But the owner of Yarra Timber - whose main business is recycling wharves - knew a thing or two about salvage. "The punt operated from the end of my yard and I got to know it," he recalls of the purchase 14 years ago.

"I just knew with transport congestion it was only a matter of time before it became viable."

With upwards of 100 commuters now paying the ferryman on fine, sunny days, the success of the service has exceeded even its owner's expectations.

The turning point came when the state government - faced with a strong campaign by Greens MP Colleen Hartland - committed the necessary funding to extend the service, allowing weekday commuters, particularly cyclists, to hop aboard.

The government's $1.4 million investment meant the operators, who have been running the weekend service at a loss for 14 years, could drop fares from $7 to $4 for the return trip on weekdays. Weekend fares remain $7 return.

Since the subsidised commuter service started on October 10, the punt has carried more than 5000 passengers, 94per cent of them cyclists.

Now Mr Horner hopes to increase the service frequency by changing the route and cutting the transit time from 10 minutes to under five.

It's a pleasure cruise even for the punt operators.

Indeed skipper Mark Spisbah is not giving up the helm any time soon. He loves the job so much he bought into the company as co-owner.

Transport Minister Terry Mulder last week described the first weekday quarter figures as pleasing and encouraged others to take a punt.