The company contracted to recover 60 shipping containers that have been stuck on the ocean floor off the Hunter coast since last year says it is confident of success.
Sydney-based Ardent Oceania recently completed a similar clean-up operation off the coast of Holland.
The company will bring a specialist salvage vessel from Asia for the Hunter job, which will involve a team of 25 who will work around the clock.
Managing director Drew Shannon, who oversaw the salvage of the Pasha Bulker from Nobbys Reef in 2007, said he was optimistic the containers lost from the YM Efficiency could be salvaged.
"Every job comes with its challenges but from what we have seen it appears the majority of the containers are still somewhat intact," he said.
"It's difficult to ascertain the likelihood or risk of further release of pollutant but we do know some containers have been damaged so we will take them on a case by case basis."
The salvage team will use a combination of remotely operated underwater vehicles and a custom built cage to lift the containers from the sea floor to the salvage ship.
"We intend to lift the container the shortest possible distance and contain it into another basket. What that does is take away the stresses on the container," Mr Shannon said.
"It will also assist as a module for containing what debris might come from the container and then we will minimise the risk of anything further coming from the container."
The clean-up operation is due to start in March after the Australian Maritime and Safety Authority awarded the $15 million salvage contract to Ardent Oceania last week.
AMSA says it was forced to organise the clean-up because the ship's owner Yang Ming had refused to undertake the operation.
It sent a $3 million bill to Yang Ming and its insurer Brittania P&I on last Friday for the cost of organising the clean-up.
It will be followed by a $12 million bill for the cost of the operation. AMSA said it expects the bills to be paid by January 18 or it will commence legal action against the company.
Yang Ming's Australian representative, Aus Ship Lawyers & Correspondents, says it has committed significant resources into the clean up and supporting affected stakeholders.
AMSA said it plans to hold a number of community briefings before the salvage project begins.
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