“Titanic 2″ Sets Sail….In B-Grade Quality

A movie studio famous for its “mockbuster” B-movie spoofs of Hollywood hits has set its sights on James Cameron’s epic love story, Titanic.

The Leonardo DiCaprio-Kate Winslet-assisted smash captivated audiences in 1997 and until this year, held the distinction as the world’s highest-grossing film of all-time. Ah — sounds like the perfect target for the comedic minds at Asylum Studio.

On Wednesday, the studio released the trailer for Titanic II, set 100 years after the ill-fated maiden voyage of the world’s most famous cruise-liner. The straight-to-DVD film — which uses the tagline “Looks like history is repeating itself!” — follows the Titanic II as it travels along the same route on the same day as its doomed predecessor. When a tsunami hurls an iceberg into the ship’s path the passengers and crew fight to keep the ship afloat.

Dick van Dyke’s grandson, Shane, directs and stars in the film alongside former Baywatch babe Brooke Burns and X-Men’s Bruce Davison.

Titanic 2 hits Netflix this August.

Asylum’s other outlandish spoofs include Paranormal Entity, Snakes on a Train, Terminators, Pirates of Treasure Island, and Da Vinci Treasure.