Australian shipping company Blue Star Line has entered into a memorandum of understanding (MoU) with AVIC Kaixin (Beijing) ship industry, making it a partner for the Titanic II project.

On behalf of Blue Star, AVIC will engage in the promotion of the Titanic II project as well as coordinate with sponsors from China.

Blue Star chairman Clive Palmer said: "This is a great opportunity for China to showcase its products and promote its artisans and industries to the world."

AVIC International Maritime Holdings chairman Diao Weicheng said: "AVIC and Deltamarin will cooperate with Blue Star Line on this project [and] we are confident Titanic II will be a story of success."

"We are confident Titanic II will be a story of success." 

In April 2012, Blue Star commissioned CSC Jinling Shipyard for the construction of Titanic II in China, and a year later appointed Deltamarin to undertake the project development phase.

"The first project development phase has been completed," Palmer added.

"Currently, the focus is on the evaluation and the project master plan development and more information will be available once this phase is completed."

Titanic II is a replica of the original Titanic ship. It is planned to be launched from its construction base in China in 2018, with its maiden passenger voyage from Southampton to New York scheduled for 2016.