The L.A. Times is reporting that Australian mining tycoon Clive Palmer plans to one-up James Cameron’s Titanic 3D by building a real-life replica of the ill-fated cruise ship, to set sail in 2016.  Apparently, he’s already got the Chinese state-owned CSC Jinling Shipyard on board.  What could possibly go wrong?

Palmer, considered one of Australia’s National Living Treasures (right up there with Olivia Newton-John and Kylie Minogue—seriously!) has experience in dealing with China through his company Minerology, which kinda sounds like the name of a 70’s prog rock band.  But why would an Aussie billionaire engage the Chinese government to rebuild a century-old vessel that sunk while travelling between England and the United States?

Good question.  Let’s just hope that it doesn’t make a pit stop somewhere off the coast of Newfoundland…