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http://www.bloomberg.com/news/2012-04-30/titanic-ii-to-be-built
Titanic II Planned by Billionaire Palmer in Chinese Yard
Australian billionaire Clive Palmer plans to build a 21st-century replica of
the Titanic and sail it from England to New York accompanied by the Chinese
navy by the end of 2016.
Palmer has signed a first-stage agreement with Nanjing- based CSC Jinling
Shipyard to build the ship as part of a planned fleet of luxury liners, the
Gold Coast, Queensland-based businessman said in an e-mailed statement today
. Palmer’s investments include property developments, coal and iron-ore
mining projects, a nickel smelter, a soccer team and a horse stud.
Enlarge image
The Titanic sits under scaffolding in the spring of 1911 in this photo made
available to the media by the Library of Congress. Source: Library of
Congress (George Grantham Bain Collection) via Bloomberg
Audio Download: Dr. Ballard Describes Discovering Sunken Titanic
Enlarge image
Clive Palmer, chairman of Mineralogy Pty. Photographer: Patrick Hamilton/
Bloomberg
“It will be every bit as luxurious as the original Titanic, but of course
it will have state-of-the-art 21st century technology and the latest
navigation and safety systems,” said Palmer, 58. “We have invited the
Chinese navy to escort Titanic II on its maiden voyage to New York.”
The Titanic, commissioned by White Star Line, was the largest liner in the
world when built at just under 270 meters (886 feet) and 53 meters high. It
sank after hitting an iceberg east of Newfoundland on April 15, 1912,
costing the lives of 1,514 passengers and crew, according to the statement.
Among those killed was Benjamin Guggenheim, an heir to the Guggenheim mining
and smelting empire.
Palmer’s ship will have the same dimensions as the original Titanic, with
840 rooms on nine decks as well as gymnasiums, swimming pools, libraries and
restaurants, he said.
Coal Boilers
A historical research team had started design work on the ship, which would
also include an exhibition room in place of the original’s coal boilers to
“showcase Queensland and its abundance of opportunities,” he said in the
statement.
A person on duty at the managing director’s office of CSC Jinling said by
phone that while he wasn’t aware of the deal, it may have been signed by
the company’s marketing and sales department. Today is a public holiday in
China.
Blue Star Line was registered on April 18 as a wholly-owned subsidiary of
Palmer’s Mineralogy Pty., according to its only document filed with
Australia’s securities regulator. Palmer and Derek Payne, manager of his
Cold Mountain horse stud, are the only officers listed in the three-page
filing.
Fifth-Richest Australian
The mining magnate has a fortune of A$5.05 billion ($5.3 billion) and is
Australia’s fifth-richest person, according to BRW magazine rankings. He is
developing coal and iron-ore mines in Australia, including the $8 billion
China First coal project in Queensland state. Last year, he dropped plans to
sell shares in his company Resourcehouse Ltd. in Hong Kong after commodity
prices fell.
Palmer said Chinese companies want to break into cruise- ship building.
European companies, led by Italy’s Fincantieri Cantieri Navali Italiani SpA
, Norway’s STX Europe AS and Germany’s Meyer Werft GmbH, dominate the
global cruise ship- building market, according to a 2010 presentation by
Samsung Heavy Industries Co. Mitsubishi Heavy Industries Ltd. (7011) last
November completed two ships for Carnival Corp. (CCL)
“The Chinese ship-building industry with our assistance wants to be a major
player in this market,” he said.
Separately today, Palmer announced he planned to challenge Australia’s
Treasurer Wayne Swan in the seat of Lilley in Queensland state at a federal
election due next year.
He attracted controversy in March after he was quoted in local media saying
that groups opposed to Australia’s coal industry, including the Australian
Greens party and environmental lobby Greenpeace, were “funded by the CIA.” |
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