Now Hiring — Want to Be the Captain of the Titanic 2?

Very rarely are sequels as good as the original but in the case of the Titanic, the second attempt has nowhere to go but up so the Titanic II is looking for a captain.

Australian billionaire Clive Palmer has announced plans to build a replica of the ill-fated cruise ship (updated with modern amenities, of course) and is looking for an experienced sailor to lead the Titanic II's first voyage from Southampton, England to New York in 2016.

Palmer says he has already had eight applicants, including cruise ship and supertanker captains, but he will continue to take applications through the end of 2015. There is still time to polish up your resume but don’t start writing your resignation letter from your current job just yet. Although Palmer’s ambitious plan is to have the ship operating by 2016, no construction contracts have been signed and Palmer doesn’t even have an official budget yet. For comparison purposes, the original Titanic—which sank after hitting an iceberg on its maiden voyage in 1912—took 26 months to build.

Palmer is no stranger to larger-than-life ideas. He recently announced plans to construct 117 life-sized animatronic dinosaurs at a resort and golf course on the Australian Coast. He’s also hinted that he’d like to eventually clone a real dinosaur, but we all know how well that worked out.