Videos Titanic II Planned by Australian Billionaire 2012

One of Australia's richest men, Clive Palmer, on Monday unveiled plans to build a 21st century version of the doomed Titanic in China, with its first voyage from England to New York set for 2016.An Australian billionaire with aspirations to enter politics has plans to launch Titanic II, a luxury ship that will be built to the same dimensions as the ill-fated passenger liner that sank 100 years ago. Clive Palmer has established shipping company Blue Star Line Pty. Ltd. and has commissioned China's state-owned
CSC Jinling Shipyard to build the ship, the businessman said in an emailed statement Monday. "It will be every bit as luxurious as the original Titanic, but of course it will have state-of-the-art 21st century technology, and the latest navigation and safety systems," Mr. Palmer said, adding the Chinese navy has been invited to escort Titanic II on its maiden voyage from England to New York, scheduled for late 2016. Mr. Palmer separately announced he has plans to run for the seat of Lilley in Queensland state under the Liberal party, which is currently held by Treasurer and Deputy Prime Minister Wayne Swan of the Labor party. Mr. Palmer and Mr. Swan have waged a war of words in recent months after the politician publicly criticized several mining-industry billionaires, including Mr. Palmer on several occasions, accusing them of impeding public policy and economic reforms.''

The original Titanic was commissioned by White Star Line and was the largest liner in the world at about 882.6 feet long and 175 feet high, and weighing about 46,000 tons, Mr. Palmer said. It sank after hitting an iceberg April 15, 1912, in one of the world's deadliest peacetime maritime disasters, costing the lives of 1,514 passengers and crew. The Titanic II was quickly surpassed by ever larger ships and today wouldn't rank among the top 20 of cruise ships. The largest cruise ship today is Royal Caribbean International's Allure of the Seas at 1,187 feet long with 5,400 passengers. Mr. Palmer said design work, in conjunction with a historical-research team, had begun on Titanic II, which will have 840 rooms and nine decks. The only changes to the original would be below the water line, including welding rather than riveting, a bulbous bow for greater fuel efficiency, diesel generation, and enlarged rudder and bow thrusters for increased maneuverability, he said.''

"Titanic II will be the ultimate in comfort and luxury, with onboard gymnasiums and swimming pools, libraries, high class restaurants and luxury cabins," he said. Mr. Palmer—who is developing coal and iron-ore assets in Australia—is building a portfolio of tourism businesses that includes the Coolum Golf and Spa resort on the country's Sunshine Coast. He said during a news conference from Brisbane that he would seek to be selected by the Liberal party to run against Mr. Swan for the Lilley seat. He said if he isn't selected, he would throw his support behind the opposition party's candidate. Mr. Swan in an online posting on Twitter said he would be "over the moon to fight" against Mr. Palmer for the Brisbane seat.''

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