When Cunard's Queen Elizabeth broke out in fire in 1972, capsizing in Hong Kong harbor, it spelled the end for the venerable ocean liner, which launched in 1938. Now, some 69 years after its first birth, Cunard is breathing new life into the name with the announcement that it will build a new Queen Elizabeth, scheduled to enter service in fall 2010, with the capability of hosting 2,092 passengers within her 92,000-ton frame. Italian shipbuilder, Fincantieri, will build the ship at an all-in cost of $700 million. Carol Marlow, president of Cunard Line, said that the decision to build a new Cunard vessel came as a result of strong booking response for Queen Victoria, which begins operations in December. Her Majesty The Queen of England even gave Cunard her blessing toward using the Queen Elizabeth name. Design details and itineraries for Queen Elizabeth, will be announced in due time, Cunard said.