Thanks for the info Peter, here are 3 small portions from articles on different websites on Google.
The wood was highly prized for its golden yellow colour, fine grain and natural oils that resisted rotting. The chemical that gives the timber its unique smell and preservative qualities is methyl eugenol
Today, the tree is wholly protected and cannot be felled. However, wood on the forest floor, or buried in river beds, remains usable after hundreds of years and is still prized by modern woodworkers.
They were intrigued by the fact that the logs had evidently been lying there for many years, but were intact, untouched by the rot and insects that normally decompose fallen timber. They speculated that this timber might be the solution to the previously intractable problems experienced by wooden boat builders - how to stop the voracious marine borer or screw worm. They were right; it turned out to be the best boat building timber in the world.
Basically, it has natural anti rot and anti bug oil, and is good to work with and smells great!!!Amos
ps give more Bird's Eye Huon!!!