Aussie billionaire's dream come true: Titanic II

(AP) CANBERRA, Australia - An Australian billionaire said Monday he'll build a high-tech replica of the Titanic at a Chinese shipyard and its maiden voyage in late 2016 will be from England to New York, just like its namesake planned.

Weeks after the 100th anniversary of the sinking of the original Titanic, Clive Palmer announced Monday he has signed a memorandum of understanding with state-owned Chinese company CSC Jinling Shipyard to build the Titanic II.

"It will be every bit as luxurious as the original Titanic, but ... will have state-of-the-art 21st-century technology and the latest navigation and safety systems," Palmer said in a statement. He called the project "a tribute to the spirit of the men and women who worked on the original Titanic."

More than 1,500 people died after the Titanic hit an iceberg in the North Atlantic on its first voyage. It was the world's largest and most luxurious ocean liner at the time.

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Palmer built a fortune on real estate on Australia's Gold Coast tourist strip before becoming a coal mining magnate. BRW magazine reported he was Australia's fifth-richest person last year with more than 5 billion Australian dollars ($5.2 billion).

Palmer said at a news conference that previous attempts to build a Titanic replica failed because proponents failed to raise enough money and commission a shipyard. The Titanic II is the first of four luxury cruise ships Palmer has commissioned CSC Jinling Shipyard to build.

Palmer did not provide a cost estimate. He said he had established a new shipping company, Blue Star Line Pty. Ltd., and that design work for the Titanic II has begun with assistance from a historical research team.

The diesel-powered ship will have four smoke stacks like the coal-powered original, but they will be purely decorative.

The most obvious changes from the original Titanic would be below the water line, including welding rather than rivets, a bulbous bow for greater fuel efficiency and enlarged rudder and bow thrusters for increased maneuverability, Palmer said.

Brett Jardine, general manager for Australia and New Zealand in the industry group International Cruise Council, said Titanic II would be small by modern standards but could prove viable at the top end of the luxury market.

"From a marketing point of view, many will embrace it and perhaps there'll be some that wouldn't," Jardine said.

"If you've got a niche, it's going to work. Why go out there and try to compete with the mass market products that are out there now?" he added.

While the Titanic II would carry around 1,680 passengers, most modern cruise ships create economies of scale by catering for more than 2,000 passengers, he said.

Among the world's largest passenger ships, Allure of the Seas is 295 feet longer than the 886-foot Titanic and has 2,700 cabins.

[djberson]

I like it! For one thing, it is a traditional design, and an eye-pleasing ship unlike everything else being built today. Secondly, it was the biggest in its day, but small by today's standards. I like smaller ships, and especially ones that let you experience the feeling of traveling on the sea.

[ToolMangler1]

I will tour that Ship, Photograph it and everything else that can be done (While it remains tied to the dock), but I will never sail on it out of respect for GOD and those that died on the original.. I doubt very much that this ship will sink (unless sabotaged)...

[enlightenu]

God did not build the original. I believe the Ark, or his direction thereof, was his only maritime venture.

[MIO42]

I just finished the Book
Building another seems frivolous ,but not really
To gaze at a replica is to reaffirm that Trajedy never lerks far from any of our lives.
We may be smug ,confident and oblivious to those around us who struggle with adversity on a daily basis.
We need emblems such as the Titanic to keep us on an even keel
To acknowledge the struggle does not always have Happy endings,and to appreciate each other in Myriad ways before Trajedy is laid bare at our feet
None of us has a free get out of jail card

[Forty-Four]

Amen

[billpl-2009]

....I'm not getting on that boat

[wtcmedic911]

Chineese quality... good luck with those welds especially in cold north atlantic waters.

[klusk66]

Let's hope it's not an EXACT replica and that the water compartments go all the way up to the next floor. And that the Captain doesn't feel like he has anything to prove, while carrying so many people on board. We'll see.

[Forty-Four]

That wouldn't have mattered anyway if you saw the special with James Cameron near the anniversary. Besides, the article mentioned it will be a replica with 21st century technology and modern safety innovationsl

[AnnieDanny]

Expensive "toys". Billionaires are coming up with interesting pet projects these days. EXPENSIVE pet projects. Frivolous projects. Things that don't fix the earth or humanity in any way. I'd be more impressed if a billionaire could solve some of the world's problems. Seems as if they have the means to make a real difference, but they enjoy doing strange stuff like this.

[Forty-Four]

What? Because someone has money they aren't allowed to use it? What good is money if not to spend it at some point? It isn't all up to one (or a few) people to solve all of the world's problems

[enlightenu]

This is a business venture!!! Did you read the article little miss annie???

[cbswayne]

Yeah, enough with the China-bashing. Don't you think with that much money and reputation at stake, tight control over the entire build will be taken? Do you think western companies that manufacture in China simply call up a Chinese company, tell them they want something built, then just hope the Chinese builder ships them a product somewhat close to what they paid to have made?

[Forty-Four]

I still say he have it built in Harland and Wolff. Besides, it won't be a true maiden voyage if the ship has to sail from China to England before it's maiden voyage anyway

[Forty-Four]

Just build it at Harland and Wolff where the original was built...also, don't let the expansion joints be made in the same manner. One of the secret changes made between Titanic and Britannic were the formation of the expansion joints. Titanic's came to a point, which is were it is presumed the ship split. As every engineer knows, points are weak. Britannic's featured a circle at the bottom rather than a point...thus, Titanic is in several pieces and Britannic (for the most part) is on one piece (the superstructure anyway)

[KansasCity-2012]

Building a full size Titanic replica has considerable appeal for nostalgic reasons.

Those posting the China-bashing entries need to recall how 150 years ago, Chinese were living here and employed to help in the construction of the Trans-American railroad working for Central Pacific.

It is sad that capitalism in China became beneficial to only a small minority that it became easy to eliminate in 1949 with the Mao Tse Tsung Revolution. Free market economics have returned to China and now the USA depends upon their success to survive.

Chinese are not inferior by any standard. They cater to their market and listen to the consumers. Americans like nice quality today with 'Throw-Away' use tomorrow, a form of planned obsolescence.

The Liberty Ships built in WW-II by the USA had short life and were built with attrition in mind. Many aircraft were built the same way.

The Titanic's two sister ships: Britannic and Olympic also sank, although the loss of life was considerably less and the cause was not self-inflicted.

[djberson]

Olympic did not sink. She lived to a ripe old age, then sailed under her own power to a scrapyard.