NEW YORK — What could possibly go wrong?

An Australian billionaire is getting ready to build a new version of the Titanic that could set sail in late 2016.

Clive 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....