Published Monday, 30 April 2012
The original Titanic setting sail on her maiden voyage from Southampton. (© National Museums Northern Ireland.)
Clive Palmer - a mining magnate, who has also announced his intention to contest the next federal election - has commissioned the Chinese state-owned CSC Jinling Shipyard to build a near replica of the ill-fated liner.
According to the Sydney Morning Herald, Mr Palmer has claimed that his ship 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".
Of course it will sink if you put a hole in it - it will be designed as a modern ship with all the technology to ensure that doesn't happen.
He also paid tribute to the workers at Belfast's Harland and Wolff shipyard, who created the original Titanic.
"These people produced work that is still marveled at more than 100 years later and we want that spirit to go on for another 100 years," Mr Palmer said.
Titanic was commissioned by the White Star Line company and sank on her maiden voyage from Southampton to New York in 1912, with commemorations going on around the world 100 years later.
It is not yet known how much it will cost Mr Palmer's company, Blue Star Line Pty Ltd, to commission Titanic II.
According to Mr Palmer, the Chinese navy has been invited to escort Titanic II on its maiden voyage - which has been scheduled for late 2016 and will also be from Southampton to New York.