It began operation on 25 October 2020, and replaced the western half of the F4 Cross Harbour ferry service.

It was originally created to promote tourist and traveller pilgrimage to the Darling Harbour precinct after its redevelopment in the 1980s.

King Street Wharf served as the route's terminus during the majority of its later lifespan before it was replaced by Barangaroo.

[a] The wharf was opened as part of an initiative to promote pilgrimage to the new Darling Harbour precinct and its new attractions, such as the Aquarium.

[2] One of the many recommendations of the "Walker Report" was to create a new ferry terminal at Darling Harbour, to ease congestion on the network, especially at Circular Quay.

When created in the 1980s, the route first consisted of stops at McMahons Point, Balmain East and Sydney Aquarium.

Additional stops at Milsons Point, Balmain and Pyrmont were included on the route in the early 2000s, however, Balmain was later removed from the route and an inquiry into Sydney Ferries in 2007 advised the creation of a new terminal at Darling Harbour be built, which would become Barangaroo.

The Pyrmont Bay wharf could only be accessed on the Darling Harbour to Circular Quay service.

The First Fleet ferries are a series of compact, catamaran double decker vessels, which include a third deck for crew, designed to carry up to 396 passengers.