A sequel to the 1997 Academy Award winning film Titanic will reportedly be released on 24 August 2010 and according to metro.co.uk the promotional trailer for Titanic 2 has become "the laughing stock of the film industry".

The film is about a modern luxury liner being launched on the 100th anniversary of the original voyage. The twist in the tale? The "Titanic 2" faces the same fate as its predecessor when a tsunami flings the ship into an iceberg which causes all kinds of mayhem aboard.

metro.co.uk describes the sequel as "the world?s most pointless sequel" and it seems it won't be starring Kate Winslet and DiCaprio this time, but rather actors Brooke Burn and Marie Westrbook will take the lime light.

The Independent reported that the Titanic 2 was thought of as the world's "least likely sequel in the history of Hollywood".

Directed by Shane Van Dyke and taken on by a small independent studio, The Asylum, we're wondering whether there'll be any money to be made here.

The original film, starring Kate Winslet and Leonardo DiCaprio grossed #1-billion pounds at the box office but its sequel is to be released straight on DVD reported The Independent.

Metro.co.uk reported that the film trailer was released online and have warned readers that "it's going to be bad".

Watch the trailer here