Australian billionaire unveils plans to build Titantic II cruise ship

Flamboyant Australian tycoon Clive Palmer unveiled his plan Tuesday for building a perfect replica of the Titanic
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Australian mining tycoon Clive Palmer unveils plans for a 'Titanic II' near-replica cruise ship at a news conference at the Intrepid Sea, Air & Space Museum on February 26, 2013 in New York City. Palmer said Titanic II would sail on her maiden passenger voyage from Southampton to New York in late 2016. (Getty Images)
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Australian mining tycoon Clive Palmer (C) speaks as Markku Kanerva of Deltamarin (L) and Helen Benziger (R), great-granddaughter of Titanic survivor Molly Brown, look on at a news conference to unveil plans for a 'Titanic II' near-replica cruise ship at the Intrepid Sea, Air & Space Museum on February 26, 2013 in New York City. Palmer said Titanic II would sail on her maiden passenger voyage from Southampton to New York in late 2016. (Getty Images)
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Australian mining tycoon Clive Palmer unveils plans for a 'Titanic II' near-replica cruise ship at a news conference at the Intrepid Sea, Air & Space Museum on February 26, 2013 in New York City. Palmer said Titanic II would sail on her maiden passenger voyage from Southampton to New York in late 2016. (Getty Images)
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Australian mining tycoon Clive Palmer (L) speaks as Helen Benziger, great-granddaughter of Titanic survivor Molly Brown, looks on at a news conference to unveil plans for a 'Titanic II' near-replica cruise ship at the Intrepid Sea, Air & Space Museum on February 26, 2013 in New York City. Palmer said Titanic II would sail on her maiden passenger voyage from Southampton to New York in late 2016. (Getty Images)
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Australian mining tycoon Clive Palmer unveils plans for a 'Titanic II' near-replica cruise ship at a news conference at the Intrepid Sea, Air & Space Museum on February 26, 2013 in New York City. Palmer said Titanic II would sail on her maiden passenger voyage from Southampton to New York in late 2016. (Getty Images)
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Australian mining tycoon Clive Palmer unveils plans for a 'Titanic II' near-replica cruise ship at a news conference at the Intrepid Sea, Air & Space Museum on February 26, 2013 in New York City. Palmer said Titanic II would sail on her maiden passenger voyage from Southampton to New York in late 2016. (Getty Images)