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Two new ships ordered for Celebrity Cruises

first_imgCelebrity Cruises has signed a letter of intent for a new class of vessels, Royal Caribbean Cruises Ltd. and French shipbuilder STX France announced today.Two 2,900 guest, 117,000 gross registered ton ships, will be developed under the project name EDGE in order to build upon the modern luxury experience of the brand’s Millennium and Solstice class vessels.At 984 feet long, 123 feet wide and 190 feet high, Project EDGE will deliver small ship itineraries with large ship amenities.Royal Caribbean Cruises chairman and chief executive officer Richard Fain, said that these two new additions follow the company’s long term strategy.“The addition of two project EDGE vessels to our fleet delivers on our long-term strategic plan of moderate capacity growth, and continues the positive momentum the Celebrity brand has achieved in the premium segment of our industry,” Mr Fain said.These vessels also represent a significant leap forward in environmentally friendly ship design, benefiting from new technologies to drive significant fuel efficiency and an ongoing process to ensure the extensive use of sustainable materials.STX France managing director Laurent Castaing, said that the ships are innovative and STX France are excited to be a part of the collaboration.“We are excited to be collaborating with Celebrity on this dramatic step forward in premium cruise ship design, this class of ships will be designed to deliver the destination to vacationers who want to experience all the world has to offer,” Mr Castaing said.The company expects delivery of the first ship in Fall 2018, with the second vessel delivered in the early part of 2020, the order is contingent upon the completion of customary conditions, including financing.Source = ETB Travel News: Lewis Wisemanlast_img read more

Report Home Prices 3 Undervalued Nationally

first_img Share Report: Home Prices 3% Undervalued Nationally October 6, 2014 508 Views in Daily Dose, Data, Featured, Newscenter_img Home Prices Home Values Housing Bubble Trulia 2014-10-06 Tory Barringer Despite inching closing to the tipping point, home prices still haven’t reached a stage where fears of a bubble are justified, says Trulia.The company recently released its third quarter Bubble Watch report, which measures whether home prices are over- or undervalued relative to their fundamental value. Comparing current movements to long-term trends, the report suggests home prices nationally remain 3 percent undervalued, a step up from 5 percent in the second quarter.During the housing bubble of the last decade, house prices surged to 34 percent overvaluation at their peak (in Q1 2006) before diving to 13 percent undervaluation in their trough (Q1 2012).As of the third quarter, seven of the nation’s top 100 markets were more than 10 percent overvalued, five of which are located in the inventory-starved state of California. The top overvalued market at the moment is Austin (19 percent overvalued), which—like most Texas metros—avoided the worst of the crash and has actually bounced back higher than it was in 2006.On the other hand, while a number of California’s major markets—Los Angeles, Orange County, San Francisco, Riverside-San Bernardino, San Jose, and Oakland—are high on the list of overvalued metros, they’re all still well short of the peaks they hit during the last bubble.What’s more, a scatterplot measure of annual price changes (as of August) suggests little relationship between the most overvalued markets and the markets where prices are rising fastest—a positive sign, says Trulia Chief Economist Jed Kolko.”Price gains in overvalued markets are a sign that we’re headed for danger, while price gains in undervalued markets are probably just a sign of getting back toward normal,” he said.He concluded: “All this means that bubbles should not be our top housing worry today. Our latest Housing Barometer shows that weak construction and subpar young-adult employment are the recovery’s big red flags. By contrast, prices are slowing to a sustainable pace and staying within striking distance of normal.”last_img read more