The government appointed Rachel Johnson, formerly of Transport for NSW as the VPCM's inaugural chief executive officer and announced that she would report to the Port of Melbourne Corporation until it was privatised.
[6][7] On 19 September, the government finalised the 50-year lease of the port to a corporation comprising the Queensland Investment Corporation, the Future Fund of the Australian government, the Canadian firm OMERS and the United States fund manager Global Infrastructure Partners for an upfront payment of A$9,700,000,000.
[8] Minister for Ports Luke Donnellan announced the appointment of a board of directors on 3 November 2016.
[10] In May 2017, after the release of a report by the Australian Transport Safety Bureau into the breakaway of the Spirit of Tasmania II from its moorings at Station Pier, the VPCM announced a new weather warnings service on its traffic management radio channel.
[13] This role includes the employment of a Harbourmaster to oversee port operations,[10] and the engagement of other maritime contractors.