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In this Feb. 26, 2013 file photo, Australian billionaire Clive Palmer speaks during a news conference in New York, about his intention to build the Titanic II. Palmer is a larger-than-life Australian multimillionaire whose headline-grabbing projects include building a replica of the Titanic and a Jurassic Park-style collection of 160 mechanized dinosaurs. (AP Photo/Seth Wenig, File)

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In this Feb. 26, 2013 file photo, Australian billionaire Clive Palmer speaks during a news conference in New York, about his intention to build the Titanic II. Palmer is a larger-than-life Australian multimillionaire whose headline-grabbing projects include building a replica of the Titanic and a Jurassic Park-style collection of 160 mechanized dinosaurs. (AP Photo/Seth Wenig, File)

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A rendering shows what the Titanic II will look like cruising at sea. Australian billionaire Clive Palmer says his plans to launch a copy of the Titanic and sail her across the Atlantic would be a tribute to those who built and backed the original. (Blue Star Line via Associated Press)

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In this rendering provided by Blue Star Line, the gymnasium on the Titanic II is shown. The ship, which Australian billionaire Clive Palmer is planning to build in China, is scheduled to sail in 2016. Palmer said his ambitious plans to launch a copy of the Titanic and sail her across the Atlantic would be a tribute to those who built and backed the original. (AP Photo/Blue Star Line)

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Australian billionaire Clive Palmer poses in front of an artist’s impression of the Titanic II, the high-tech replica of the doomed “unsinkable” liner that he plans to have ready for a maiden voyage in 2016. (Crook Publicity via Associated Press)