Titanic 2 trailer makes so much sense

Wasn't there already a Titanic 2 with Telly Savalas?

EDIT: no he was in Beyond The Poseidon Adventure, but there was 'Raise The Titanic'.

Edited at 23:24 on 30/07/10

"Only life is priceless, and making each day count."
Now, I'm seriously thinking about emailing James with my small request. Let's say, a few ounces of unobtainium.

And good to know Tit2 was shot. Too bad, it didn't die and I have to live with memory of seeing its trailer.

That alternate ending is so fucking dumb.
James Cameron's writing is so bad it gives me a tummy ache.