With the decline in the popularity of the transatlantic route, both ships were replaced by Queen Elizabeth 2 in 1969. Queen Mary was retired from service on 9 December 1967, and was sold to the city of Long Beach, California. Queen Elizabeth was sold to a succession of buyers, most of whom had adventurous and unsuccessful plans for her. Finally she was sold to a Hong Kong businessmen Tung Chao Yung who intended to convert her into a floating University cruise ship. In 1972, while undergoing refurbishment in Hong Kong harbour, she caught fire under mysterious circumstances and was capsized by the water used to fight the fire. In 1973, her wreck was deemed an obstruction, and she was partially scrapped where she lay.
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