ICTSI locks down 40-year deal to operate Melbourne port

The VICT contract extended, ongoing investment raises terminal throughput.

The International Container Terminal Services, Inc. has extended the contract for its wholly owned subsidiary—Victoria International Container Terminal Ltd. (VICT)—to operate the Webb Dock East terminal at the Port of Melbourne.

The agreement with Port of Melbourne Operations Pty Ltd. moves the contract expiry from 2040 to 2066, giving the terminal a total operational life of 40 years, according to a regulatory filing.

VICT is scheduled to complete its ongoing investment programme by late 2026, which is expected to increase the terminal’s capacity to 1.6 million twenty-foot equivalent units.

The extended contract does not require significant additional capital expenditure for further capacity expansion, the filing added.