On 10 July 1911, the Commonwealth Naval Forces were renamed the Royal Australian Navy.
The memorial was unveiled by Queen Elizabeth II on 3 March 1986, on the occasion of the 75th anniversary of the formation of the RAN.
[1] Bronze figures feature in the memorial and show the daily activities of naval life; the geometric forms, such as the anchor chain, depict elements of a ship.
(The memorials along Anzac Parade were specifically exempted from water restrictions during the drought of 2005.)
The memorial is also known as Sailors and Ships – Interaction and Interdependence, and was designed and executed by Ante Dabro in collaboration with Lester Firth and Associates, and Robert Woodward.