The ASNCo was formerly known as the Hunter River Steam Navigation Company which established a shipyard on this site in 1846. In 1855 the ASNCo opened a 100 metre long slipway for the construction and repair of ships of up to 2000 tonnes.
During construction works near this location in 2003 these two iron propellers were uncovered. Their style suggests they were cast around the 1860s-80s.
Close inspection indicates they had been removed from two different ships and stored; forgotten and finally buried in landfill on the edge of the site when the works closed in 1895.
In the 50 years that the shipyard operated a number of paddle wheel and propeller-driven passenger and cargo ships were constructed and repaired here.
The first ship wholly constructed here was the Ballaarat in 1853, after which the park at the northern end of Darling Island has been named.
In 1863 a gunboat, the Pioneer, was launched for service in New Zealand during the Anglo-Maori Wars. At its peak the ASNCo operated a fleet of some 26 ships, trading along the Australian coast, and between America, Asia and Africa.
The company's administration office and warehouse, built in the 1880s, was an ornate brick building that can still be seen in The Rocks on the western side of Circular Quay.
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