A billionaire who is planning to build a new version of the Titanic insists it's no gimmick.

Professor Clive Palmer told journalists on Saturday he was not motivated by money.

The mining magnate wants his Titanic II passenger liner to sail from Southampton to New York in just three years.

titanic

Do we really need a new Titanic?

Speaking at a press conference at the Ritz hotel in central London, he said: "Money wasn't my primary consideration for this."

He then joked: "But it looks like, unfortunately, I'll make a lot of money out of it!"

The Queensland businessman's plans have been questioned by critics, who say the Titanic II project will never be a reality and Prof Palmer is simply trying to create headlines.

Asked what he thought of the sceptical reports, he said: "Well, I'd just say it's bullsh*t really.


"We're building four ships now bigger than the Titanic at the shipyard.

"I'm not somebody with no money. I've got enough money to build the Titanic ten times over if I wanted.

"So, there's no need for publicity. I'm trying to avoid the media if I can."

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  • In this rendering provided by Blue Star Line, the Titanic II is shown cruising at sea. 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)

  • In this rendering provided by Blue Star Line, the third class dining room 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)

  • In this rendering provided by Blue Star Line, the Turkish bath 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)

  • In this rendering provided by Blue Star Line, the Titanic II is shown cruising at sea. 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)

  • In this rendering provided by Blue Star Line, the swimming pool 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.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)

  • 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)

  • Clive Palmer

    Australian billionaire Clive Palmer speaks during a news conference about his intention to build the Titanic II in New York, Tuesday, Feb. 26, 2013. Palmer is planning to build the ship in China and it is scheduled to sail in 2016. (AP Photo/Seth Wenig)

  • Clive Palmer

    Australian billionaire Clive Palmer speaks during a news conference about his intention to build the Titanic II in New York, Tuesday, Feb. 26, 2013. Palmer is planning to build the ship in China and it is scheduled to sail in 2016. (AP Photo/Seth Wenig)

  • In this rendering provided by Blue Star Line, the grand staircase on the Titanic II is shown. The replica 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)

  • In this rendering provided by Blue Star Line, the grand staircase on the Titanic II is shown. The replica 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)

  • Clive Palmer

    Australian billionaire Clive Palmer speaks during a news conference about his intention to build the Titanic II in New York, Tuesday, Feb. 26, 2013. Palmer is planning to build the ship in China and it is scheduled to sail in 2016. (AP Photo/Seth Wenig)

  • US-AUSTRALIA-CHINA-TITANIC-SHIPPING-HISTORY-TOURISM

    Markku Kanerva , Director of Sales Deltamarin Ltd, talks about plans for building a perfect replica of the Titanic at a news conference February 26, 2013 in New York. Flamboyant Australian tycoon Clive Palmer unveiled his plan Tuesday for building a perfect replica of the Titanic -- plus a lot of extra lifeboats. More than a century after the original, supposedly unsinkable ocean liner hit an iceberg and went down in the North Atlantic, Palmer says he thinks the time has come to complete the unfinished journey to New York. 'The Titanic was the ship of dreams. Titanic II is the ship where dreams will come true,' Palmer said in New York at the project's official launch. AFP PHOTO/DON EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)

  • US-AUSTRALIA-CHINA-TITANIC-SHIPPING-HISTORY-TOURISM

    Australian tycoon Clive Palmer talks about his plan for building a perfect replica of the Titanic at a news conference February 26, 2013 in New York. More than a century after the original, supposedly unsinkable ocean liner hit an iceberg and went down in the North Atlantic, Palmer says he thinks the time has come to complete the unfinished journey to New York.'The Titanic was the ship of dreams. Titanic II is the ship where dreams will come true,' Palmer said in New York at the project's official launch. AFP PHOTO/DON EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)

  • US-AUSTRALIA-CHINA-TITANIC-SHIPPING-HISTORY-TOURISM

    Helen Benziger,Margaret 'Molly' Brown's great grandaughter, talks about plans for building a perfect replica of the Titanic at a news conference February 26, 2013 in New York. Flamboyant Australian tycoon Clive Palmer unveiled his plan Tuesday for building a perfect replica of the Titanic -- plus a lot of extra lifeboats. More than a century after the original, supposedly unsinkable ocean liner hit an iceberg and went down in the North Atlantic, Palmer says he thinks the time has come to complete the unfinished journey to New York. 'The Titanic was the ship of dreams. Titanic II is the ship where dreams will come true,' Palmer said in New York at the project's official launch. Brown, who became known as 'The Unsinkable Molly Brown,' was an American socialite, philanthropist, and activist who became famous due to her survival of the 1912 sinking of the RMS Titanic, after exhorting the crew of Lifeboat No. 6 to return to look for survivors. AFP PHOTO/DON EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)

  • US-AUSTRALIA-CHINA-TITANIC-SHIPPING-HISTORY-TOURISM

    Helen Benziger,Margaret 'Molly' Brown's great grandaughter, talks about plans for building a perfect replica of the Titanic at a news conference February 26, 2013 in New York. Flamboyant Australian tycoon Clive Palmer unveiled his plan Tuesday for building a perfect replica of the Titanic -- plus a lot of extra lifeboats. More than a century after the original, supposedly unsinkable ocean liner hit an iceberg and went down in the North Atlantic, Palmer says he thinks the time has come to complete the unfinished journey to New York. 'The Titanic was the ship of dreams. Titanic II is the ship where dreams will come true,' Palmer said in New York at the project's official launch. Brown, who became known as 'The Unsinkable Molly Brown,' was an American socialite, philanthropist, and activist who became famous due to her survival of the 1912 sinking of the RMS Titanic, after exhorting the crew of Lifeboat No. 6 to return to look for survivors. AFP PHOTO/DON EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)

  • US-AUSTRALIA-CHINA-TITANIC-SHIPPING-HISTORY-TOURISM

    Australian tycoon Clive Palmer talks about his plan for building a perfect replica of the Titanic at a news conference February 26, 2013 in New York. More than a century after the original, supposedly unsinkable ocean liner hit an iceberg and went down in the North Atlantic, Palmer says he thinks the time has come to complete the unfinished journey to New York.'The Titanic was the ship of dreams. Titanic II is the ship where dreams will come true,' Palmer said in New York at the project's official launch. AFP PHOTO/DON EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)

  • US-AUSTRALIA-CHINA-TITANIC-SHIPPING-HISTORY-TOURISM

    Australian tycoon Clive Palmer talks about his plan for building a perfect replica of the Titanic at a news conference February 26, 2013 in New York. More than a century after the original, supposedly unsinkable ocean liner hit an iceberg and went down in the North Atlantic, Palmer says he thinks the time has come to complete the unfinished journey to New York.'The Titanic was the ship of dreams. Titanic II is the ship where dreams will come true,' Palmer said in New York at the project's official launch. AFP PHOTO/DON EMMERT (Photo credit should read DON EMMERT/AFP/Getty Images)