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liillittf Annual the last few years and the continu- ing trend towards industry consoli- dation has emphasized the increas- ing globalization of the cruise mar- ket. North American cruise com- panies are springing to set up European and Asian markets in order to compete for passengers, namely the ever-valuable first- time cruiser, worldwide. As a pioneer of transatlantic ser- vice, a cruise line with a rich her- itage of transporting immigrants to new lands of oppportunity and soldiers and supplies to battle in times of conflict, Cunard's business is inherently global and therefore poised for success in the current market conditions. "What we have seen other cruise lines doing this summer is approaching the markets and the areas that we have been sailing for years," said Pankakoski, specifi- cally referring to Southeast Asia and Europe, adding: "Forty-five percent of our total revenues come from abroad." "Globalization has been an essen- tial part of the operations of this company. We've been a genuine global company for many years. We wish them (other cruise lines) welcome to the those markets," stated Pankakoski. His logic is that the internationalization of the industry will attract more passen- gers to Cunard's ships in much the same way as the entrance of Disney ships will attract more repeat passengers to all of the industry's ships. Return To Rumorville While speculations regarding the sale of Cunard are not currently inflamed — but also not likely to fade away until the cruise line sig- nificantly ups profits or commands another sort of big-time deal such as a new ship contract or a merger agreement — the cruise industry rumor mill remains full. A day after the Royal Caribbean International/Celebrity Cruises proposed merger was announced and before Carnival stepped in with a cash offer and rumblings of Princess' interest began, Pankakoski discussed how the merger of the cruise players would benefit the market: "I think it's a good move for the companies. It will allow them to synergize their strengths and cut down on cost." Discussing past incidences when Kvaerner placed Cunard on the sales block, he wouldn't say if any of these companies were involved in negotiations, adding mysteri- ously, "Let's just say a number of companies have been in touch in the past." With a merger-friendly shipbuild- ing executive at its helm, and for- mer Dolphin Cruise Line and Majesty Cruise Line president Capt. Paris G. Katsoufis joining the company as president and chief operating officer, the future remains bright for Cunard, whose ships are the salty, yet unmistak- ably favored seadogs of the cruise industry's infant fleet. The President's Cabin Step inside the fascinating - and colourful - world of INEXA MAGIC. It is a revolutionary new finishing system that will be the start of a new era in interior design on board ship. INEXA MAGIC will give you completely new options for design- ing cabins exactly to suit your taste. You can create cabins where walls, curtains, furniture and carpets match perfectly. The panels are no longer a restricting, but rather a creative element. You can have them in any pattern you like. The pattern of your own choice! In brief, your imagination sets the only limits. Your Design Partner Bring your ideas - hopefully your wildest ones - to us and let us be your partner in developing cabins you always wanted to design but never had the chance to realise. We're eagerly waiting for your creative input. INEXA# PANEL INEXA PANEL A/S. HOVEDGADEN 483, DK-2640 HEDEHUSENE, DENMARK. TELEPHONE: +45 46 56 37 00. FAX: +45 46 56 04 66. inexa@inexa.postnet.se, www.inexa.se Exclusive agent for the United States and Canada: Jamestown Metal Marine Sales Inc. 4710 Northwest Second Avenue, Boca Raton, Florida 33431, U.S.A. Phone: (561) 994 3900. Fax: (561) 994 3969. Circle 330 on Reader Service Card July, 1997 27
