By Giulia Petroni

 

ABB Ltd. said Tuesday that it has secured an order of around $150 million to power five vessels built by Italian shipbuilder Fincantieri SpA.

The Swiss engineering company said the cruise ships will be powered with the Azipod propulsion system, which increases operational efficiency and reduces fuel consumption by up to 20% compared to conventional systems. The total propulsion power will be of 178 megawatts.

The vessels will enter service between 2023 and 2026, according to ABB.

 

Write to Giulia Petroni at giulia.petroni@wsj.com

 

(END) Dow Jones Newswires

November 17, 2020 04:43 ET (09:43 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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