It’s alleged they used a shipping vessel named Dalrymple to ferry drugs between NSW ports and a larger ship stationed out at sea that held drugs smuggled from Chile.
About 500 kilograms of cocaine was seized from a dinghy at Brooklyn on the NSW Central Coast.
Several of the men were arrested on board the Dalrymple vessel as it docked at Sydney Fish Market on Christmas night.
The operation by NSW Police, Australian Federal Police and Australian Border Force has been running for more than two-and-a-half years.
Police say they have seized 500 kilograms of cocaine and more than 600 kilograms of the same drug in Tahiti which they will allege was destined for Australia.
Authorities valued the total amount of cocaine seized at $360 million.