) recently won a contract from the Finnish Transport Agency (FTA)
to provide power solutions including Azipod propulsion units and an
electric power plant for the Arctech Helsinki Shipyard. The
financial terms of the deal remain undisclosed.
The vessel was conceptualized by experts at Aker Arctic
Technology and ILS. The design required it to be adept at meeting
the challenging conditions at the sea while simultaneously being
responsive to the open sea oil spill conditions. The vessel also
demanded to be enabled to execute its towing functions throughout
the year, especially amid inclement weather conditions. ABB's
technology was selected among several bidders for the contract.
The scope of the contract requires ABB to provide
state-of-the-art icebreaker vessels to sustain the harsh conditions
at the Baltic Sea. The company will be manufacturing the vessel
using advanced technology that makes it efficient yet easy to
maintain. The vessel, which is expected to be completed by 2016,
will be one of its kinds, possessing dual fuel capability that will
cut down on both the emission levels and costs as it will be fueled
by liquefied natural gas (LNG).
ABB's three-pod propulsion solution having a 6MW Azipod unit
placed at the bow and a couple of 6.5MW units that will be
positioned at the stern of the vessel will ensure optimum
efficiency levels along with ease of movement across the ice-ridges
in the sea.
ABB has been a pioneer in podded propulsion technology. The
increasing safety and regulatory norms for sea transport have been
driving ABB's business as its Azipod technology has met the most
stringent norms in the industry. The high-demand Azipod propulsion
system was jointly developed by ABB and Helsinki shipyard in
1987. Besides strengthening the company's relations with
Finland, this contract will also benefit both the entities
significantly going forward.
ABB currently has a Zacks Rank #5 (Strong Sell). Some
better-ranked stocks that can be considered at the present include
AO Smith Corp.
). All these stocks carry a Zacks Rank #2 (Buy).
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