September 27, 2018
PALMER BUILDING TITANIC ll
The Chairman of Blue Star Line Mr Clive Palmer confirmed in London today that work has recommenced by Blue Star Line to build Titanic ll and to put Titanic ll into service on the London – New York route across the Atlantic.
Clive Palmer last announced progress on the Titanic ll project in 2015 when work was suspended due to his flagship company, Mineralogy, being in dispute with Chinese Government owned Citic Limited over the non-payment of hundreds of millions of dollars of royalties owed to Palmer companies.
“Citic Limited was just exporting millions of dollars of Mineralogy resources and refusing to pay for them,” Mr Palmer said.
In late 2017 the Western Australian Supreme Court ordered that Citic Limited pay hundreds of millions of dollars in back royalty payments to Blue Star Line’s parent company Mineralogy. Blue Star Line has the support of its holding company to build and operate Titanic ll. Each year Citic is required to continue to make substantial royalty payments.
Mr Palmer confirmed that the financial constraints brought about by the failure of Citic to pay Mineralogy its financial entitlements were responsible for work on the project being suspended. Now those matters have been resolved, work has recommenced to build and operate Titanic ll.
Mr Palmer was in London to confirm and issue a video showing the final technical specifications of the ship.
“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,’’ Mr Palmer said.
“Titanic II is a unique project that will generate unprecedented international exposure and public interest.
“The ship will follow the original journey, carrying passengers from Southampton to New York, but she will also circumnavigate the globe, inspiring and enchanting people while attracting unrivalled attention, intrigue and mystery in every port she visits.
“Titanic ll will offer exclusive rights for global partners to leverage the Titanic ll brand for use in their licensing, advertising and marketing campaigns.
“Blue Star Line will deliver unparalleled global reach for our partners’ brands and products, penetrating a diverse range of markets across the world.
“In 1912 the Titanic was the ship of dreams. For over a century Titanic’s legend has been powered by mystery, intrigue and respect for all she stood for.
“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,’’ Mr Palmer said.
In 2012 Mr Palmer was elected by the popular vote of the Australian people as a National Living Treasure, awarded by the National Trust.
He was named as the Mining Entrepreneur of the decade in 2012 by Government Australia magazine.
Mr Palmer served in the House of Representatives in the 44th parliament of Australia and has a strong commitment to public service both in Australia and internationally.
He remains one of Australia’s wealthiest and most successful citizens with the Australian Financial Review estimating his personal wealth at approximately $3 billion in 2018.
Mr Palmer’s projects and companies have been responsible for creating over 60,000 jobs in Australia over the last 30 years.
See what Titanic ll will look like, deck by deck, with highlights of key features here: https://youtu.be/QhRPvYbNDNE