AUSTRALIA: ‘Titanic’ the epic film directed by James Cameron in 1997, starring Leonardo DiCaprio and Kate Winslet, gave an account of the death of more than 1,500 people on the sinking of the RMS Titanic – the world’s most luxurious ocean liner in that time. This year Titanic was once again released in 3D to celebrate a 100 Years of the original movie.

Continuing the tradition created of some sorts, post the 100th anniversary of the sinking of the original Titanic ship, Australian billionaire Clive Palmer has announced his plans to build the Titanic II.

Palmer, being Australia’s 5th wealthiest person, announced his intention to develop a state of the art copy of the Titanic ship, commissioning a Chinese shipbuilder. "It will be every bit as luxurious as the original Titanic, but will have state-of-the-art 21st-century technology and the latest navigation and safety systems," Palmer said in a statement.

He said that his project would be, "a tribute to the spirit of the men and women who worked on the original Titanic." Its maiden voyage is scheduled in the later half of  2016, from England to New York, like the original.

"The diesel-powered ship will have four smoke stacks like the coal-powered original, but they will be purely decorative. The most obvious changes from the original Titanic would be below the water line, including welding rather than rivets, a bulbous bow for greater fuel efficiency and enlarged rudder and bow thrusters for increased maneuverability," Palmer explained.