Floatel’s 2016-built vessel finds another job in Australian waters

July 4, 2025, by Melisa Cavcic

Floatel International, a Norwegian offshore accommodation provider, has won a new contract for a nine-year-old semi-submersible accommodation vessel off the coast of Australia.

Floatel Triumph; Source: Floatel International

After securing a letter of intent (LOI) with an undisclosed client offshore Western Australia for the Floatel Triumph unit, which was converted into a firm contract in March 2025, with an expected start date from Q4 2025 and duration of three to five months, the Norwegian player has now got hold of another firm contract for the same vessel.

The new 35-day assignment offshore Australia, with an option for the unnamed client to extend the deal, is expected to begin in the fourth quarter of 2026. Inpex extended the charter for Floatel Triumph this year from 210 to 225 firm days, with an additional 65 option days.

The 2016-built Floatel Triumph semi-submersible accommodation and construction support unit, which is equipped with the Kongsberg dynamic positioning system for station keeping, certified to DP3 class, can accommodate 560 people.

“This contract reinforces Floatel International’s strong presence in the Australian offshore accommodation sector and highlights the company’s ongoing commitment to delivering high-quality services to its clients,” highlighted Floatel.

The company completed the sale of Floatel Reliance at the end of May 2025 and transferred the unit to the new owner. Three out of four active units were on charter during the first quarter of 2025, with a 44% utilization, excluding Floatel Reliance.

The firm’s total contract backlog, excluding options, was approximately $391 million as of March 31, 2025. Floatel Victory’s contract with Equinor at Peregrino was prolonged until the end of 2025, but the operator has the option to extend the charter period by an additional two months.

Letters of intent for Floatel Endurance and Floatel Superior were all converted into firm contracts. The latter was moored in Ågotnes, Norway, earlier this year, where it underwent a special periodic survey (SPS) and preparation for its six-month charter with Equinor.