This is/was a theme-park attraction.  As far as I can tell, propulsion was by the sternwheel; steering in the narrow waterway was by an underwater guide rail.
The boat ceased operating from Dec.12, and is only a static display.  That coincided with the removal of the authentic steam locos on the park railway, and replacing them with a steam-outline diesel.
See the album at: <www.parkz.com.au/search/photos/location/ride-39/sort/oldest>

Roderick B Smith
Rail News Victoria Editor