Initially, the coal industry was extremely sceptical of the Hunter Ports proposal. Residents were aghast because they thought they had won the battle to restrict any new loaders to Kooragang Island.

Early on, some coal watchers wondered whether the BHP proposal was a Tinkler tactic to secure more capacity at Kooragang for his proposed Maules Creek mine at Gunnedah. Then, on December 12, Whitehaven Coal announced it would buy Maules Creek and another Tinkler company, Boardwalk Resources, leading analysts to wonder whether the magnate was preparing to cash in his chips.

A month later, however, Mr Tinkler is hitting top gear with the loader plan. He and his executives have a major meeting with state government agencies on Tuesday to discuss the proposal, which was formally lodged on November 28.

Port Waratah Coal Services - the proponent of Newcastle's planned fourth loader, known as T4 - says it does not want to get into a "slanging match" with Hunter Ports. But if the state government decides to seriously consider the Tinkler Group's unsolicited proposal, PWCS will have little choice but to engage in debate.

Regardless of who builds it or where it is, Newcastle will need a fourth coal-loader in the next few years. But a fifth is unlikely for a long time, if ever.

As things stand, T4 is the industry choice. PWCS and other coal and infrastructure companies have worked closely with state and federal agencies to plot the growth of coal exports. The Tinkler plan throws that process into disarray.

For the public, the biggest question may well revolve around what is lost - the opportunity cost - if two-thirds of the BHP site is given over to a coal-loader.

For many years the politicians said the steelworks site would be the state's next container terminal. Proposals have come and gone, however, and Port Botany continues to dominate the container trade.