News suddenly all over the spotlights about the Australian billionaire Clive Palmer declared to build a replica of the ill fated Titanic. This announcement came amid the centenary anniversary when the mega ship Titanic sank in 1912. Roughly worth 500 million USD, the Tianic II is said to be placed at the Chinese state owned CSC Jinling Shipyard in Nanjing, China.

 

And today we finally get confirmation from Jinling’s top figure on the intention despite rumors yesterday indicating there’s no such deal.

 

Mr. Palmer himself could not be reached for comment at this moment. And besides this sea going ambition into luxury cruise line market, the tycoon also has diversified his investment into sports, hotels and recreational venues.

I guess there are 3 aspects why the mining giant is pursuing the high profile remake project with China.

 

1.       He unveiled his Titanic plan just an hour before a separate announcement that he would stand against Australian Treasurer Wayne Swan in his seat of Lilley at a federal election. Another Titanic will surely be a strong stimulant to his supporters and other voters. A man with a big blue print in mind is a man to chair the seat? Let’s wait and see.

2.       This time he successfully made his name famous all over the world again. People who don’t know about him before will Google him, people who already know about him will dig him further. I trust it will bring certain positive effect on his tourism business in Queensland.

3.       Famous saying goes if you have money and network in China, a shit load of fortune you can make. So we can see his move as the olive branch to China, by paving the way to a State backed entity CSC group, it’s much easier for his future investment in China or Jiangsu in particular if any. Maybe there are more orders of cargo ships and mining joint ventures.

 

Traditionally European yards account for 70% of global cruise ship and yacht newbuildings, with Italy’s Fincantieri Cantieri Navali Italiani SpA, Norway’s STX Europe AS and Germany’s Meyer Werft GmbH as the largest players. But Asian especially Chinese yards have become more attractive for their lower cost and improvement of technology and skills.

 

Anyway this is a good start, and hopefully more and more Chinese shipbuilding companies can and will produce top class cruise ships bearing the grace of Le Cœur de la Mer in the near future.