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MARINE FINANCE (Continued from page 10) "The biggest opportupjiji^m the industry is the 74 mjifion whoiteve expressed an invest in cruisin| said Pankal^ski, stressing tha^ effective c^mimunications with^ travel agents and the public, through /p.r. efforts and the Internet, should be made a top pri- ority in 1997. When taking his stab at market- place projections for this year, Celebrity Cruises CEO Richard Sasso assumed his usual straight shooting manner. "I think we too much about supply and .demand ... I think wp^fon't spend M)ugh time ta^ii^g about the fun- damUnliali ^hat will drive the industry ... quality, variety and innovation (QVI)," said Sasso, con- tinuing, "We cannot build ships just forja££e«size ... we must focus or Acknowledging Ihe construction trend toward melaships, Sasso said that these slips should be designed for the srecific markets they will serve an\ added that first-timers should obkled to tl ships not by price, but D^ Hit! ber- vices they will provide. Kicking a major company expan- sion into gear days before the industry panel met, the Kvaerner contract-wielding Norwegian Cruise Line CEO Kristian Siem painted a picture of an industry supportijs#^Ji no L UTrt^growth, but ecpjBfJmic recovery. "In terms of Norwegfcn Cruise Line, we've come a long way. We've had some problems," /aid Siem, continuing, "Our m resource is our peo NCL's future is briafit the cruise induj^ry develops, each role and there t valuable ... I believe .. I think as grows and impany sees its more differentia- tion. I think tjfis is good for every- body." All in all, tWe predominantly rosy projections of cruising's top play- ers seemed t\ satisfy the expecta- tions of induilto-y executives who tuned for finaiVial updates. As voiced by Rick\James, "Cruise industry executiv^ know their industry keeps goimg and going and going like tl^ Energizer Bunny." Notable Quotables: "I think Qfernival Cruise Lines' approach? to globalization has been vem/ successful." — Kristian Siem "There is a atariand in Europe for an American-sVIe product." — Richard Fain "By reducing and eliminating the panamax restriction, you can offer unparalleled choice." — Tim Harris "I think #e big ships will move out of the Caribbean." — Kirk Ranter man "I have some pre Phoenix (World will be built whenj — Bob Dickins >lems with the I think it >igs fly." "I believe we oriented than originally." — Antti Pankal e more booking- is company was >ski 104 Circle 313 on Reader Service Card Maritime Reporter/Engineering News
