In 1851 the Hunter River Steam Navigation Company, with the intention of expanding its operations changed its name to the Australasian Steam Navigation Company.
In the year of 1880, the Queensland Steam Navigation Company was formed and a great rivalry built up between it and the Australasian Steam Navigation Company. Fare prices dropped rapidly as the two concerns competed with each other for available patronage. Six years later, both companies found themselves in financial difficulties.
In 1886 therefore, the Australasian Steam Navigation Co. agreed to sell its assets to its rival the Queensland Steam Navigation Company .
