RMS Queen Elizabeth was sold to the city of Long Beach, California. "Queen Elizabeth" was sold to a succession of buyers, most of whom had unsuccessful plans for her. Finally "Queen Elizabeth" was sold to Hong Kong businessman Tung Chao Yung, who intended to convert her into a floating university cruise ship called Seawise University. In 1972, while undergoing refurbishment in Hong Kong harbour, fire broke out aboard under unexplained circumstances and the ship was capsized by the water used to fight the fire. In 1973, the wreck was deemed an obstruction to shipping in the area, and so was partially scrapped where
RMS Queen Elizabeth stabilisers to smooth the ride in rough seas. Two fins were fitted on each side of the hull. The fins were retractable into the hull to save fuel in smooth seas and for docking. On 29 July 1959, she was in a collision with the American freighter "American Hunter" in foggy conditions in New York Harbour and was holed above the waterline. Together with "Queen Mary" and in competition with the American liners and , "Queen Elizabeth" dominated the transatlantic passenger trade until their fortunes began to decline with the advent of the faster and more economical jet airliner in