Queensland mining billionaire Clive Palmer says he plans to travel third class when his Titanic replica makes its maiden voyage in 2016.

Mr Palmer showed off designs for the Titanic II during a press conference on board a mothballed aircraft carrier in New York overnight.

He said the Titanic II, which will be built in China, should be ready to launch in 2016 and would have three passenger classes, just like the original Titanic.

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He said passengers would have to wear period costumes and would be prevented from mingling with passengers from other classes.

And the flamboyant tycoon said he would be travelling below decks in third class like Leonardo DiCaprio in the 1997 blockbuster Titanic.

"I'll be looking forward to it as you bang the drum and play the fiddle, twirling around like Leonardo does," he said.

In the interests of period correctness, Mr Palmer said the giant cruise liner would not have any televisions or internet facilities.

But he declined to repeat the boast of the original Titanic's makers, who declared their ship was unsinkable when it sailed from Southampton in 1912.

Some 1,500 people died on Titanic's maiden voyage when it hit an iceberg in the North Atlantic en route to New York.

"Anything will sink if you put a hole in it," Mr Palmer said at the New York City dock which Titanic had been due to berth at in 1912.

"I think it would be very cavalier to say it."

The love boat

Mining tycoon Clive Palmer unveils plans for the Titanic II at a news conference in New York City ( AFP: Mario Tama/Getty Images )

Mr Palmer, who created the company Blue Star Line last year to build his ship, rejected suggestions that his plan was disrespectful to those who died in the 1912 disaster.

"It's important to remember them and remember the courage they had and what they did and what they stand for," he said.

"We've got to remember who we are and where we come from.

"It doesn't hurt to ponder a while and think back to the values that were there in 1912, when men thought of women differently, when the age of chivalry was not dead."

And he said he thought the idea of a voyage on the Titanic II was a "romantic concept".

"We need to reconsider how many times have we not spent enough time with our partners - we see increasing divorce rates all over the world," he said.

"I think the romance of the Titanic - there's not enough love in the world and we want to make the Titanic a ship of peace.

"Certainly all of us in this age we live in could want to take a little bit of time to spend with our partners.

"I'm very excited about it because it's all about love. It's all about you, your partner, Romeo and Juliet, Rose and Jack, what a thing to be excited about. Why aren't I excited about it? When did you spend five days with your wife? You need to do it, get on a cruise, but get on the Titanic II."

However he declined to say how much the ship will cost.

"It's not about the money - I've got enough money for it - I think that's all that matters," he said.

"We're not saying what the final cost is because it's a private venture - [it] doesn't rely on any public money, doesn't have any other investors in it.

"As long as I've got the resolve and the will to carry it through, it will happen."

On the projected 2016 launch date, he said: "If it takes longer, it takes longer. But we'll do it - we've got a big pile of money."

The original Titanic.

All mod cons

While the Titanic II will be a replica of the original ship, Mr Palmer said it would have better safety features, with a helicopter pad and satellite navigation systems.

"We've got 130 per cent more than is required under the regulations on lifesaving devices - from life boats to a whole lot of other advanced equipment," he said.

"We're in constant contact on radio 24 hours a day, which they weren't."

The ship will be built by Chinese state-owned CSC Jinling Shipyard, which is already building four ore carriers for Mr Palmer's mining business.

However, he says the contract to build Titanic II has not yet been signed.

"Probably next week, something like that - most things I say I'll do, I do," he said.

Helen Benziger, a descendant of Titanic survivor Margaret Brown, better known as the Unsinkable Molly Brown, said at the press conference the ship would be a chance to experience the sort of grace and civility she said was sometimes lacking in the modern world.

"It's a chance to go back in time," Ms Benziger, who has joined the project's advisory board, said.

ABC/Reuters