I love how this guy never gets into anything technical. (It’s a video, for anyone who wants to skip it). My husband made the comment that it sounds like a Monty Python sketch.
More like a Clarke & Dawe sketch, I’d say. 
I love it too.
Someone posted that here last fall… Hilarious sketch!
This was a real incident in 1991. This one, I think. Senator Bob Collins was the then Minister for Shipping.
Clarke and Dawe have been doing these current events sketches for some time. See here for recent ones.
A less funny angle to this is that the Coroner made a public comment on Collins’ death in the last week or so. An ugly business - he was eventually successful in killing himself just prior to his trial on numerous child sex charges.
They also did a series called The Games, a mockumentary on the organizing of the Sydney Olympics, that’s one of the funniest shows I’ve ever seen.
What kind of materials can the ship be made of?
Well, carboard’s right out!
Anything else?
Cardboard derivatives… 
"Paper…paper’s out. "
I love that video. I practically have it memorized and it never fails to make me laugh.