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The Chairman of Blue Star Line Mr Clive Palmer confirmed in London 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 unrivaled attention, intrigue and mystery in every port she visits," he added.