Titanic vision refloated
Cashed-up Palmer plans to set sail
QUEENSLAND billionaire Clive Palmer has refloated plans to build a replica version of the doomed Titanic passenger liner, three years after the project was suspended due to a lack of cash.
Mr Palmer first announced he would build the Titanic II in 2012, with a projected maiden voyage set for 2016 but the project was suspended in 2015 after financial snags.
Speaking from London, Mr Palmer yesterday said cash flow issues with the project had been resolved after Chinese company Citic was last year ordered to pay “hundreds of millions of dollars” worth of royalties which will help him fund the ambitious project.
It is understood the project will not breach a current court-ordered freeze on more than half a billion dollars of Mr Palmer’s private and business assets.
The order to freeze Mr Palmer’s assets was made by the Supreme Court in May as part of a mammoth legal battle over the collapse of Queensland Nickel, whose liquidators claim creditors are still owed millions of dollars.
While no timeline has yet been provided for the project, a spokesman for Mr Palmer said the billionaire was speaking with shipping yards and suppliers during his current overseas travels in Europe and that work on the ship would begin “immediately”.
The 56,000-tonne ship is expected to cater for more than 2400 passengers plus crew and will offer an “authentic” Titanic experience but with modern perks including improved communication and radar equipment to make sure it doesn’t meet a similar fate to its predecessor, which sunk in 1912 in the North Atlantic Ocean, killing more than 1500 people.
“Titanic II is a unique project that will generate unprecedented international exposure and public interest,” Mr Palmer said.
“The ship will follow the original journey, carrying passengers from Southampton to New York, but she will also circumnavigate the globe, inspiring and enchanting people while attracting unrivalled attention, intrigue and mystery in every port she visits.”
The project will be run by Blue Star Line, a subsidiary of Mr Palmer’s flagship company Mineralogy.
Mr Palmer yesterday also released an eight-minute video showing the ship’s specifications and class systems featuring actors dressed in period costumes.
“Blue Star Line will create an authentic Titanic experience, providing passengers with a ship that has the same interiors and cabin layout as the original vessel, while integrating modern safety procedures, navigation methods and 21st century technology to produce the highest level of luxurious comfort,’’ he said.
IS A UNIQUE PROJECT THAT WILL GENERATE UNPRECEDENTED INTERNATIONAL EXPOSURE AND PUBLIC INTEREST CLIVE PALMER