While the Norwegian Kvaerner Group has presented its bid to acquire Trafalgar House, Kvaerner has sent different signals regarding its interest in Cunard Line.

First, Kvaerner made it clear it intended to sell Cunard to help finance the acquisition of Trafalgar House; secondly, in somewhat of a turn-around, Kvaerner suggested it may keep Cunard. That decision may also have been prompted by the lack of buyers and to avoid a low-priced distress sale.

The industry has subsequently been popping with rumors of take-over candidates including P&O, Carnival Corporation and Royal Caribbean Cruise Line of which both Carnival and RCCL have since said they were not interested.

In the meantime, there is business as usual at Cunard which has also undergone a dramatic restructuring to make the line profitable again.