By plane
There are flights north to Santiago 1 hour 40 minutes and south to Punta Arenas 2 hours.
By bus
Buses pull in at the large and bustling termnial in the middle of town close to the harbour. Many departures to cities in the north, as well as services to Chiloé Island. Cruz del Sur are the fastest, since they own many of the ferries crossing the strait and the bus bypasses the waiting line. Buses to Bariloche in Argentina takes around 7 hours.
By ship
Navimag has boats to and from Punta Arenas and Puerto Chacabuco. The latter costs Ch$ 38000 pp, Ch$ 100000 for a car. Other companies whose name and routes change frequently have ferries to Chaiten on the carretera austral. Many departures in summer, but often only one per week in winter. The ferry to Chiloé Island leaves about 50 km south west of town, takes 30 min and cost Ch$ 1000 pp and Ch$ 8300 for a car.
Naviera Austral connects Puerto Montt with Chaiten. Ferry leaves at midnight and journey takes 10-12 hours. Simple seat costs Ch$19100, berths are two times more expensive. Check the Naviera Austral website for current schedule: (http://www.navieraustral.cl)
Kémelbus now has a service called "ruta bimodal" which takes passengers to Chaitén by bus and ship in a daily, 10-hour scenic trip through the fjords south of Puerton Montt.