I think if the resources which have been poured into Osborne SA had not been committed, then there would have been some merit in reactivating Cockatoo Island.
While I would like to see Australia be able to manufacture all the vessels needed for the RAN, one thing I fear happening is that pollies will 'fight' each other to get Defence monies spent on projects built in their respective districts and as a result, will lead to resources being expended and then squandered, duplicating capabilities like naval shipbuilding in various ports, with the facilities then competing with each other for project contracts.
Cockatoo Island Dockyards could likely be made into an effective yard to produce RAN vessels, but that would likely be at the expense of ASC/Osborne, facilities in Henderson WA, wasting the resources spent building up those facilities.
This is the problem we have had for decades, had we just concentrated on sustaining one major yard we would have had a sustainable industry for a hundred years now.
Brisbane I and Adelaide I were built at Codoc. Adelaide was delayed due to supply issues with machinery and armaments from the UK during the war, but none the less there was an experienced and capable yard that could have continued building Cruisers for the RAN between the wars and destroyers leading up to WWII.
The common-sense ordering of Australia and Canberra from Codoc would have cost less than building Albatross in compensation and buying the Cruisers from John Browns. Codoc would then have been in a position to build replacements for the retiring Town class light Cruisers in the late 30s instead of having to buy them from the UK.
This production could have continued during the war, while the trained and competent work force would have been better able to support the build of destroyers, frigates and corvettes in other yards. Williamstown for instance could have built more Tribals in less time.
Properly supported the Australian industry could have easily built a couple of Cruisers, several destroyers, and possibly even an Escort or light fleet carrier or two, in addition to the ships actually built during WWII. Maybe the pre-war panic desire to build a battle ship could have been achieved.
Post war all that would have been required would have been to keep ordering ships at regular intervals from Codoc and using other dock yards for commercial works and modernisation. If all two Battle, four Daring (build Waterhen too), three (or four) Perth, six River, six Adelaide, eight ANZAC and three Hobart had been built at Codoc we would already have our sustainable, continuous build.
