Titanic II: The Titanic replica, complete with smokestacks (decorative) and lifeboats (improved), has already sold 40,000 tickets to re-attempt the 'unsinkable' ship's doomed cruise from England to New York.
An Australian billionaire is getting ready to build Titanic II, a new version of the Titanic that could set sail in late 2016.
Palmer said 40,000 people have expressed interest in tickets for the maiden voyage, taking the original course from Southampton, England, to New York. He said people are inspired by his quest to replicate one of the most famous vessels in history.
"We all live on this planet, we all breathe the same air and, of course, the Titanic is about the things we've got in common," he said. "It links three continents."
The original Titanic was the world's largest and most luxurious ocean liner when it hit an iceberg in the North Atlantic and sank on April 15, 1912. Only 700 people of the more than 2,200 on board survived the most famous maritime disaster in history, partly because there were not enough lifeboats to carry everyone.
Palmer said an unknown when the original ship sailed — climate change — may play into a positive for the new ship's fate.
"One of the benefits of global warming is there hasn't been as many icebergs in the North Atlantic these days," Palmer said.