Ship salvage experts had been forced to wait until Saturday morning for a high enough spring tide to refloat the vessel, after earlier attempts failed.
Clive Palmer said Friday he intends to refloat the United Australian Party, a once dominant force in Australian politics that sank without a trace in the 1940s.
It was hoped the ship would be moved by a tugboat during high tide on Saturday, but crews decided not to attempt to refloat the vessel as they were keen to "take their time" and "prepare a plan".