Before even getting to the plot, such as I was able to piece together, some attention needs to be paid to the production values, if you can call them that.
No attention was paid at all to continuity, some exterior scenes and establishing shots use the 1936-vintage Queen Mary, moored in Long Beach, CA; while other outside scenes utilize some of the most god-awful CGI animation I've ever seen, which appears to depict the 1912-vintage Titanic. The ship shifts from a '30s three funnel liner to a pre-WWI four funnel liner and back again multiple times, the colors of the funnels even changes between red and yellow and the name sometimes disappears from the bow.
The permanent rock breakwater surrounding the Queen Mary can bee seen in some parts where the ship is supposed to be out at sea, along with glimpses of the Long Beach skyline in a few parts. No attempt at all was made to disguise the fact that the location ship never left port.
Interiors were filmed in either rented motel rooms, office elevator lobbies, or the main concourse in a suburban shopping mall. The engine room scenes are clearly a concrete basement with air conditioning equipment.
Extras in "action" scenes either stumble around aimlessly with no expression or intentionally trip over their own feet. All sound effects, including screaming, were added post production with no cause visible.
Now, back to the plot. Its bad. Like flimsy soft core porno bad. Some millionaire has financed the construction of an exact replica of the Titanic, which has set out on its maiden voyage from New York in 2012, on the 100th anniversary of the original. In a shocking coincidence, global warming simultaneously causes a massive ice sheet to break off from Greenland and drift toward the ship. Oh, and a tsunami. A massive, massive tsunami was caused somehow and is actually propelling the iceberg toward the ship at greater than the speed of sound. Yes, that fast. Also, only the ship is endangered and not all of Europe and North America, as might be expected from a tsunami of such biblical proportions. Part way through the movie, the actors appear to lose interest in the iceberg threat, and it is forgotten and replaced solely with the tsunami, which doesn't capsize the ship, but merely damages the hull in the same place as the original Titanic. Also, it destroys half the lifeboats- that is one smart killer wave.
I was really hoping this would be one of those campy movies that are so bad their almost good and can be appreciated ironically as unintentional comedy, but "Titanic 2" is just too bad even for that. This movie has no redeeming features whatsoever and is merely a colossal waste of time and resources. All copies of this film should be collected and shot into the sun, lest future generations find them and judge our civilization based on this affront to all taste and decency.
I'm just glad I watched this as a free bootleg on the Internet, if I had actually paid to buy or rent this, I would probably be setting something on fire right now.