Rumor: Chinese Company to Build Titanic II?

The Sydney Morning Herald is reporting that Queensland billionaire mining magnate Clive Palmer is looking to build a new ship, which will be christened the Titanic II.

Palmer said his new company Blue Star Line Pty Ltd had commissioned the state-owned Chinese company CSC Jinling Shipyard to build a near replica of the ill-fated Titanic. The cost has not yet been revealed.

Palmer said the companies had signed a memorandum of understanding to build the cruise liner in China, with the ship's maiden voyage from England to North America scheduled for late 2016. He claimed that the ship would be as upscale as its predecessor, and that it would have "state-of-the-art 21st century technology and the latest navigation and safety systems." 

Asked if the Titanic II could sink, Palmer reportedly replied, "Of course it will sink if you put a hole in it."

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