Billionaire releases plans for Titanic replica set to sail in 2016

An Australian billionaire is getting ready to build a new version of the Titanic that could set sail in late 2016.Palmer unveiled blueprints for the famously doomed ship's namesake Tuesday at the Intrepid Sea, Air and Space Museum in New York. He said construction is scheduled to start soon in China.Palmer said 40,000 people have expressed interest in tickets for the maiden voyage, taking the original course from Southampton, England, to New York. He said people are inspired by his quest to replicate one of the most famous vessels in history.We all live on this planet, we all breathe the same air and, of course, the Titanic is about the things we've got in common," he said. "It links three continents."The original Titanic was the world's largest and most luxurious ocean liner when it hit an iceberg in the North Atlantic and sank on April 15, 1912. Only 700 people of the more than 2,200 on board survived the most famous maritime disaster in history, partly because there were not enough lifeboats to carry everyone.