This was taken from the Obelisk viewpoint, looking over the Newcastle CBD towards Nobby's Head.
In the full size version you can see the wreck of the Sygna lying in the surf line (between the trees in the top left) which came ashore north of Stockton Beach in a similar storm in 1974, during it's maiden voyage !
According to Wikipedia, in 1940 the SS Maianbar was washed ashore near where the Pasha Bulker is now, and was dismantled on site.