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On a cold April night in 1912, the world-famous Titanic met with disaster. An underwater spur from an iceberg gashed a 300-foot hole in the hull of the luxury oceanliner sending 2,400 passengers into the frigid, dark North Atlantic. Only 705 passengers survived.

Photo Credit: Public Domain

Many factors contributed to the Titanic’s devastating end, including rushing launch to beat the competition, not enough lifeboats and a faulty hull design. The Titanic was a romantic idea with plenty of press around the notion it was, “unsinkable.”

Now, an Australian billionaire is working on Titanic II, an exact replica–sans the clearly flawed design, of course–to sail the same route from Southamption, England, to New York.

Photo Credit: By Roderick Eime – Titanic II And Statue Of Liberty, CC BY 2.0

Clive Palmer is a mining magnate who is seeing his dream of bringing the Titanic sailing experience to life come true with his own shipping company, Blue Star Line. Working with a Chinese ship builder, he aims to make the voyage in 2022.

“Blue Star Line will create an authentic Titanic experience, providing passengers with a ship that has the same interiors and cabin layout as the original vessel, while integrating modern safety procedures, navigation methods and 21st century technology to produce the highest level of luxurious comfort,” says Palmer.

The gigantic project was proposed with an anniversary sail in mind, which would have taken place in 2012. But a controversial financial dispute involving royalty payments owed Blue Star Line’s parent company and Palmer’s flagship company, Mineralogy, from the Chinese government pushed the deal back.

Apparently matters have been settled. According to a statement released by Blue Star Lines, building has resumed–full steam ahead.

“Millions have dreamt of sailing on her, seeing her in port and experiencing her unique majesty. Titanic ll will be the ship where those dreams come true.”

Photo Credit: Twentieth Century Fox

Romance, controversy, stormy North Atlantic seas, shrimp cocktail? Where do we sign up?