Oliver Smith, The Daily Telegraph, August 27, 2013
Discussing the Titanic II project with AFP reporters this week, he said: "We've all been in love, I've been in love, I'm in love at the moment. And if you're not in love you long to be in love. What's wrong with love? It's very, very easy to make war - we have armies, we have navies, we have air forces - but it's a lot harder to make peace.
“And by taking Titanic II, by recreating that... we've built it with a concept of love that we all want. And that's what's common to man - in China, in Europe and the United States. And that's why it has got such universal appeal.”
Mr Palmer first announced his intention to build the Titanic replica last year. Since then he has made similarly heart-felt comments about the nature of his project.
In February, during a dramatic speech, he claimed the Titanic II would be “a ship of peace”, adding that the original vessel, which sank in 1912, killing 1,523 passengers and crew, "represents the spirit of man. The spirit of love. The hope that all men have for peace on earth in our time and goodwill to all men. Titanic comes from a time when the world was different. When there was a different culture, different ways of living. When people worked with each other more. And as James Cameron reminds us... my heart will go on.”
In May he announced that a number of applications had already been received for the position of captain on board the new vessel, and claimed that staff benefits would include “bragging rights” and “falling in love”.
"There will be a certain elitism to say you've worked on Titanic II," he said. "They'll get to have a 20-course dinner in first class. [Staff accommodation] will be in better quality cabins than the passengers. I think you'd fall in love and get married. It will be a ship full of love."
Wealthy Americans have reportedly offered up to $1 million (£643,000) each for the chance to join the inaugural cruise from Southampton to New York, which is scheduled to take place in late 2016.
The vessel will be built to resemble the original, with the only upgrades being air conditioning, a hospital and a helipad.
Mr Palmer has suggested that there will be no televisions or internet access, and said that passengers will be provided with period clothing should they wish to dress up.
Just like in 1912, there will be three passenger classes. Even the gym and the swimming pool will be almost identical to those on the 1912 ship.
One crucial upgrade will be the number of lifeboats. The original Titanic, carrying 2,224 passengers and crew, was sunk after hitting an iceberg during its maiden voyage on April 15 1912.
It had 16 wooden lifeboats which accommodated just 1,178 people – a third of the total capacity.
The new ship will be able to carry 2,435 passengers and 900 crew. Crucially it will have lifeboats that can carry 2,700 and a life rafts with an additional capacity of 800.
A 10-metre model of the ship, designed by German firm Hamburg Ship Model Basin, will take to the water next month as part of the testing process.
Mr Palmer, who was estimated to be worth $795 million (£511m) by Forbes in 2012 and describes himself as a billionaire, has refused to say how much the venture would cost.
He made his fortune in mining, but also owns a number of holiday resorts. The Titanic II isn’t his only business venture apparently inspired by a Nineties blockbuster film. Last year he reportedly took an interest in cloning a dinosaur to attract guests to the Palmer Coolum Resort near Brisbane. He has since announced plans to install more than 100 mechanical dinosaurs at the resort.
He is also standing in next month's Australian election after founding his own political party this year.