There will be a new Titanic to sail the ocean. Australian mining entrepreneur Clive Palmer  unveiled blueprints for Titanic II, a modern replica of the sunken ocean liner, although he stopped short saying it was unsinkable. "Anything will sink if you put a huge hole in it" he said.

The ship will largely recreate the design and decor of the  original, but add some new things like air conditioning, enough life boats to handle everyone, and more modern cooling systems.

Like the original there will be 3 classes and will boast period clothing if you should want to dress up and pretend you are on the original. Much of the deck and brass design will look like the original too, they've even gone as far as hiring a string quartet to play on the deck.

According to Yahoo! news "It's not about the money," Palmer said. "I've got enough money for it, I think that's all that matters." Forbes estimated Palmer's net worth to be $795 million in 2012. He describes himself as a billionaire.

"Oh, probably next week, something like that," Palmer said, when asked when that would happen. "Most things I say I'll do I do."

He hoped construction would begin later this year, and that the maiden voyage, recreating the trans-Atlantic crossing of the original, would take place in 2016, he said.

"But if it takes longer, it takes longer," he said. "But we'll do it. We've got a big pile of money."

Jaime Katz, an analyst who tracks the cruise industry, said Titanic II may find it difficult to compete with established cruise lines, particularly the economies of scale of their larger fleets. She said the Titanic II could be marketed to wealthier passengers and could draw repeat business by varying its routes rather than focusing on trans-Atlantic crossings.

"People are going to be really cautious or superstitious regarding getting on a second version of the Titanic, or it could be a really compelling idea for history buffs who really want to live the story or the legend behind it," Katz said.

"There's an audience for all sorts of cruises," she said.

Titanic II will operate as a cruise ship, and passengers will find 1912-style clothing in their rooms should they wish to dress up and pretend they are living in an earlier era as they visit facsimiles of the original gilded first-class dining and smoking rooms, if they have the appropriate ticket.

Although the classes will be kept largely separate, Palmer said he was considering offering ticket packages that would allow passengers to experience all three classes during a typical six-day Atlantic crossing.

Prices for the tickets will be announced later. That will be an interesting press conference.

Helen Benziger, a descendant of Titanic survivor Margaret Brown, better known as the Unsinkable Molly Brown, has said it would be a great way to step back in time and experience something lacking in the real world. She is also on the advisory board.

So, who plays the love interest in Titanic II?