The nineteen-year-old fisherman washed from the rocks at Port Kembla yesterday has been identified as Berkeley teen Brenden Buxton Hurd.
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A wide-scale search continues for the man, but police say it is now considered a recovery effort.
"We have a very good chance of finding him. The chances of finding him alive however are slim. He's been in the water for some time now," Superintendent Craig Ireland said.
Police said Mr Buxton Hurd was fishing with friends on the rock shelf on Anzac day when a wave swept him into the water.
Two men jumped into the water to rescue Mr Buxton Hurd, but quickly found themselves in trouble.
One of the men was pulled from the water by surf lifesavers, while the other was able to pull himself back onto the rock shelf.
The major search operation began yesterday shortly after 4pm.
"There was a number of people down here fishing at the time who raised the alarm to emergency services," Surf Life Saving Illawarra Duty Officer Anthony Turner said.
Emergency Services, Police, NSW ambulance, Lifeguard services and Surf Life Saving all assisted in the search yesterday until the light faded, he said.
They resumed this morning at 7:30am.
Jetskis, rescue boats, drones, and dye are all being used in the search effort.
"The conditions are fairly good today," Mr Turner said.
"When we arrived this morning it was a bit drizzly, but the conditions have cleared up for us and the swell has dropped," he said.
The rock shef at Hill 60 is notoriously dangerous, and several fisherman have died there.
"It has been notorious over the last two years, and there has been multiple deaths in this location," he said.
Police have emphasised the importance of wearing a lifejacket while fishing. It is believed the men were not wearing lifejackets at the time.
"We can't state the importance of lifejackets, especiially in an isolated location like this," Superintendent Ireland said.
"A freak wave can come at anytime," he said.
Mr Buxton Hurd's family have set up a Gofundme for him, raising funds for a funeral.