Cameron Oakley, 25, of Portland, did not apply for bail in Warrnambool Magistrates Court on Wednesday morning.

He has been charged with murder after the fatal stabbing of 24-year-old man Lachlan Hutchins in Portland during the early hours of Tuesday morning.

Mr Oakley was remanded in custody to appear in court again on December 6 for a committal mention hearing.

Lawyer Karin Temperley said her client's custody management issues included being a long-time cannabis user, who experienced mental health issues, including depression and anxiety.

She said Mr Oakley had received direct threats while in custody and his mother, who appeared in court, believed her son would be vulnerable if sent to Port Phillip Prison.

Magistrate Franz Holzer ordered a hand-up police brief be prepared by October 25.

Police sources say Mr Oakley and Mr Hutchins knew each other and were both at a toilet block in Henty Street about midnight Monday.

Just before 12.30am Tuesday Mr Hutchins presented at the Portland Base Hospital with upper body and neck injuries.

He had lost a lot of blood and despite treatment went into cardiac arrest.

A Victoria Police Homicide squad member confirmed today that Mr Oakley had given detectives a version of events during a recorded interview before he was charged with murder late on Wednesday.

Mr Oakley was the subject on an intense manhunt in Portland on Tuesday.

Have you signed up to The Standard's daily newsletter and breaking news emails? You can register below and make sure you are up to date with everything that's happening in the south-west.