Australian billionaire building Titanic II in China

An Australian billionaire has announced plans to build a modern replica of the Titanic. It will be made in China.

Titanic Ii Clive Palmer

April 30, 2012: Australian billionaire Clive Palmer announced today that he plans to build a modern replica of the Titanic, and has scheduled its maiden voyage (from England to New York) for 2016.

The ship will be constructed by state-owned Chinese company CSC Jinling Shipyard.

“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,” said Palmer in a statement.

At a news conference Palmer said that previous attempts to build a Titanic replica failed because interested parties were unable to raise enough money and commission a shipyard.

Faithful Failure readers will recall that Palmer isn’t the first to name his seafaring vessel Titanic II. Last year, Mark Wilkinson’s Titanic II sank on its maiden voyage