Why Is This Australian Billionaire Recreating The Titanic?

(Time) Titanic II: Retro Genius, or Just Another Bad Remake?

By Katherine Cooney@kccooneyApril 30, 2012

An Australian billionaire has signed up with a Chinese shipyard to create a replica of the world’s most famous metaphor for human overconfidence.

If the James Cameron 3D release of Titanic wasn’t a realistic enough experience for those fascinated by the ill-fated ship, an Australian billionaire will now make it possible to sail on an exact replica of the RMS Titanic — get ready for Titanic II.

Weeks after the 100th anniversary of the ship’s sinking, Clive Palmer, Australia’s fifth-richest person according to BRW Magazine, announced Monday that he has signed a memorandum of understanding with CSC Jinling Shipyard, a state-owned Chinese company, to build an exacting replica of the early 20th-Century luxury liner.

Titanic II will sail from England to New York on its maiden voyage, scheduled for late 2016.  Palmer told the Associated Press that, “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.”

(MORE: Should the Titanic‘s Artifacts Stay Under Water?)

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Also see 73 Year Old Billionaire CNN Founder Ted TurnerHow Did We Get So Big So Fast?Who Will Be the First Hip-Hop Billionaire? and Buffettology: Lessons from the Greatest

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