Judging by the enthusiasm with which people on the Bellarine Peninsula have taken the chance to ride on Friday's trial service, the answer is yes.

Tickets for the one-off return trip sold out within 14 hours when they went on sale this week, organisers say, raising hopes that there is enough demand to make a regular service viable.

A crowd of 400 people will meet at Portarlington's new, $15 million safe harbour on Friday morning to take the ferry to Docklands, then spend a mere hour at the windblown Victoria Harbour before they make the 1½-hour journey back across Port Phillip Bay.

They have paid just $25 each for the four-hour round trip, less than patrons of the trial ferry service between Wyndham Harbour and Docklands were initially charged, before low numbers forced the operator to slash prices to match train fares last month.

Businessman Paul Little, who is behind Port Phillip Ferries, which runs both services, said it was too soon to commit to a regular Portarlington service, though signs were "encouraging".

"At this stage we are evaluating the continuity and level of demand for a daily service for Portarlington, but early signs are encouraging," Mr Little said.

The fate of the Wyndham to Docklands service that has been operating since May appears bleak, though.

"Wyndham on the other hand has been disappointing as solid demand needed for a regular service has not been there," he said.

The Wyndham Explorer will ferry people from Portarlington to Docklands. Picture by Joe Armao

The Portarlington ferry's maiden voyage is the culmination of nine years' work for John Rae and Geoff Henderson, two retirees who live on the Bellarine Peninsula and can see a real hunger among locals for the service.

Mr Rae said he believed the case for a ferry between Portarlington and Melbourne was stronger than the Wyndham offering, because there are few options on the "public transport-starved" Bellarine Peninsula.

"Ferries, when they are up against other public transport, struggle," Mr Rae said. "A ferry will be slower on water than a train if they are both leaving at the same time and covering the same distance."

The 88-minute journey time across the bay is competitive with driving and easily beats the two-hour bus-train combination.

It will be quicker still, at an estimated 73 minutes, if Port Phillip Ferries can convince the Port of Melbourne to lift the speed limit on the Yarra River.

The ferry will travel across the bay at 25 knots, slow to 10 knots when it reaches the mouth of the Yarra, then drop to just five knots when it passes beneath the West Gate Bridge, the same speed limit boats must keep to on Albert Park Lake.

Nick Easy, the Port of Melbourne's chief executive, said the corporation would not raise the limit until it was satisfied it is safe to do so.

"Port Phillip Ferries understand that Port of Melbourne Corporation will not consider any changes to speed limits in the Yarra River until a detailed risk assessment is undertaken which is their responsibility to complete," he said.

Bellarine residents, meanwhile, are preparing for an on-water celebration on Friday.

Jenny Edmanson, who runs the Portarlington post office, said the town was abuzz.

"There is a lot excitement about the prospect of having a different mode of transport and I think it would be great for Portarlington, but not only Portarlington, people from Ocean Grove and Queenscliff and all round the Bellarine," she said.