Billionaire's Superyacht Runs Aground Again: An Irony of Titanic-Sized Proportions

Adding irony on top of irony, this happened just as Clive Palmer recently relaunched his Titanic II project, an ambitious plan to build a replica of the doomed Titanic and send it cruising around the globe. The coincidence is so strange it almost feels like the universe might be trying to tell Palmer something.

The second grounding was less severe than the first, and MY Australia was released after some 5 hours. But the superyacht is back in the marina, presumably to receive repairs.

Second grounding in less than a year

In October 2023, video of superyacht Australia grounded on a sandbank off the coast of Singapore went viral. The vessel remained "stranded" for many hours and had to be rescued by several tugboats, but not before it became the laughing stock of social media.

Clive Palmer, a former politician and a controversial billionaire, is also a passionate car collector and a self-professed Titanic romantic since at least 2010, which is when he first publicly launched the idea of building a functional, operational Titanic replica.

Compared to the Titanic, his 56-meter (183-foot) Australia superyacht, a 2012 Benetti classic leisure craft that he bought in 2021, is downright puny. If he had trouble finding a captain that would keep it from hitting sandbanks in shallow waters, imagine what would happen with a Titanic replica, savage commenters noted online. We're paraphrasing, but you get the idea.

At the end of last week, Australia ran into trouble – and another sandbank – again. This time, it happened in Palmer's home country as the vessel was getting ready to head out. Moored at Southport Yacht Club, it crossed the Gold Coast Seaway channel and came out to open sea before returning to the marina again and departing later for the second time.

This time, though, it changed direction once out of the channel and sailed into shallow waters, getting stuck on a sandbank. Local reports note that Australia was "stranded" for 4 to 5 hours before it was rescued by a Coast Guard tugboat and returned back to the marina – presumably for repairs.

A Benetti classic

As of this writing, there's no word on whether either of these two incidents was caused by human error or some kind of malfunction with the vessel. For what it's worth, Australia is a superyacht with excellent pedigree and an impressive track record as a popular charter vessel.

Delivered in 2012 as Ulysses, it was also named Bash while owned by billionaire Graeme Hart, who sold it to Palmer in 2021. Estimated at some $40 million, Australia comes with an exterior design by Stefano Natucci and original interiors by Benetti, but these have been through at least a couple of refits, so they might be completely different than how they started out. Power comes from twin Caterpillar engines maxing out at 16 knots (18.4 mph/30 kph), while accommodation onboard is for 12 guests and 12 crew.

Comparatively a smaller-size superyacht, Australia delivers the kind of amenities that guarantee multi-generational appeal and bragging rights for any billionaire, including multiple water features, several bars, a wellness area, and lavish finishes that rival deluxe resorts.

In 2021, when Palmer bought it, Australia was pulled off the charter market, so whatever upgrades it's had under current ownership remain a secret.

Plans for the second coming of the Titanic

The second incident involving Australia has also gone viral, though not for the reasons you'd think. The conversation around it is less about superyacht Australia or whatever issues it might have had, but more about Palmer's plans for the Titanic II, just like it happened last year.

In other words, commenters online are having a hard time reconciling Palmer's grandiose plans with his apparent inability to keep his own medium-size superyacht afloat. If he can't keep Australia from hitting sandbanks, what guarantee would the passengers of Titanic II have that the gigantic cruise liner won't meet the same fate as the original did in 1912?

Titanic II comes with an estimated budget of $500 million to $1 billion, but no shipyard has been announced yet as the builder. It's owned by Palmer's company, Blue Star Line, and it will be a 9-decker measuring 269 meters (882.5 feet) in length, 32.2 meters (105.6 feet) in width, and an interior volume of 56,000 GT.

According to Palmer himself, Titanic II will be an almost exact, period-correct replica of the original Titanic, but hiding modern features – including safety features, better navigation, and more lifeboats to go around to third-class passengers as well. Palmer describes it as more than a cruise liner and more than a luxury experience: Titanic II is a symbol of love and peace, and a nostalgic tribute to when both were far more common than they are today, he says.

Admitting that he's ever the optimist, Palmer also says that he's hoping 2027 is the year when Titanic II will be in service. Hopefully, by that time, he'll have figured out how to keep his own superyacht afloat without further incidents.

A Gold Coast Billionaire's superyacht has hit troubled waters when it struck a sandbar and got stuck. It took four hours to free Clive Palmer's pride and joy, but now questions are being asked, how it happened. https://t.co/VZ3A1cHvFd @_jordanquinn #7NEWS pic.twitter.com/aXYpIOVElN

— 7NEWS Brisbane (@7NewsBrisbane) June 7, 2024