Floatel International
Floatel International owns and operates four purpose-built semi-submersible offshore accommodation and construction support units, chartering them on long-term contracts to international oil and gas operators in harsh marine environments such as the North Sea, Brazil, and Australia.
- Company typePrivate
- Founded2006
- HeadquartersOslo, Norway
- Headcount251–500
- GTM typeB2B
- OfferingServices
What Floatel International does
Floatel International Ltd, incorporated in Bermuda and headquartered in Oslo, Norway, is a privately held offshore service provider that owns and operates a fleet of four purpose-built semi-submersible accommodation and construction support units for the international oil and gas industry. Founded in 2006 and operationally active since 2010, Floatel currently operates four vessels — Floatel Superior (delivered 2010, 440 single cabins), Floatel Victory (delivered 2013, 560-person capacity), Floatel Endurance (delivered 2015, 440 single cabins), and Floatel Triumph (delivered 2016, 560-person capacity) — following the 2025 divestiture of Floatel Reliance. All units were built at the Keppel FELS Shipyard in Singapore (now Seatrium Pioneer Yard) and are equipped with Kongsberg DP3 dynamic positioning systems, 38-metre hydraulic telescopic gangways, helidecks with refuelling facilities, deck cranes with up to 120 MT lifting capacity, full hospital facilities, and hotel-standard amenities including IPTV with video-on-demand, cinema, gymnasium, sauna, hobby rooms, and quality catering. Two units (Superior, Endurance) hold DNV class notations including Accommodation(N) Unit, BIS, DYNPOS(AUTRO), and HELDK for operations on the Norwegian Continental Shelf; Victory and Triumph carry ABS class notations including Accommodation Service, Column Stabilized Unit, DPS-3, and Fire Fighting Vessel Class 2 for worldwide operations excluding Norway. The fleet has accumulated over 13,200 operating days at an average commercial uptime of 99.8%.
The company generates revenue exclusively through direct, project-based long-term charter contracts negotiated directly with major oil and gas operators — there are no intermediaries, resellers, or marketplace channels. Pricing is contract-specific and not publicly disclosed. The go-to-market motion is enterprise field sales, with charter enquiries handled via [email protected] and active customer relationships including Equinor (Skarv, Bacalhau), Aker BP (Skarv), Vår Energi (Jotun), Shell (Prelude), Woodside (Scarborough), Inpex (Ichthys), Cenovus Energy (Canada), Karoon Energy (Bauna), and Brava Energia. In Q1 2026 the company reported revenue of USD 37.3 million and recurring EBITDA of USD 3.7 million on fleet utilisation of 72% (all four units on charter), with a firm orderbook of approximately USD 342 million as of 31 March 2026 and a cash position of USD 69 million. Floatel completed a USD 350 million senior secured bond refinancing in 2024 and is led by CEO Peter Jacobsson (40 years offshore), CFO Tomas Hjelmstierna, COO Per Marzelius, and CTO Christoffer Rutgersson, with board representation from Keppel Ltd (Chairman Kevin Chng, Director Kee Huat Loh) and EV Private Equity (Executive Chairman Kjell E Jacobsen, former CEO of Seadrill).
Floatel International firmographics
Firmographics- Name
- Floatel International
- Legal name
- Floatel International Ltd
- Website
- https://floatel.no
- Company type
- Private
- Founded year
- 2006
- Operating status
- Operating
- Headcount range
- 251–500 employees
- Short description
- Floatel International owns and operates four purpose-built semi-submersible offshore accommodation and construction support units, chartering them on long-term contracts to international oil and gas operators in harsh marine environments such as the North Sea, Brazil, and Australia.
- Ownership category
- akta.pro rank
Floatel International industry classification
Industry- Product category
- Offshore Accommodation & Construction Support Services
- NAICS
- Other Support Activities for Water Transportation (488390), Support Activities for Water Transportation (4883), Commercial Air, Rail, and Water Transportation Equipment Rental and Leasing (532411)
- SIC
- Water Transportation (4400)
- akta.pro primary industry
- Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters) (EUALABAJ)
- akta.pro secondary industry
- Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS) (TLADABAL)
Keywords
Where Floatel International is headquartered
LocationHeadquarters
- HQ city
- Oslo
- HQ country
- Norway
- HQ region
- Europe
Offices6 records
Markets served
Floatel International business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Infrastructure, Operations, Personnel, Supply Chain, Technology or R&D
Revenue model
- Vessel Charter Contracts: Floatel generates revenue primarily through long-term charter contracts for its four offshore accommodation and construction support units. Contracts are project-based with varying durations (typically months to multi-year), providing high day rates in exchange for full-service accommodation, construction support, and catering. Revenue for Q1 2026 was USD 37.3 million. The company operates in a capital-intensive, asset-heavy business model with recurring EBITDA of USD 3.7 million in Q1 2026.
- MSU (Maintenance and Safety Unit) Services: Specialized maintenance and safety unit services provided to oil and gas operators, converting letters of intent into firm contracts. Floatel Victory secured 3-month and 6-month MSU contracts with Equinor and Brava Energia respectively in Brazil, with scheduled commencement mid-2026 and Q4 2026.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Charter-based pricing for offshore accommodation units |
Go-to-market motion1 record
Distribution channels1 record
Marketing channels3 records
Floatel International product offering
Product offeringCore offering
Floatel International provides offshore accommodation and construction support services through a fleet of four semi-submersible vessels (Floatel Superior, Floatel Victory, Floatel Endurance, and Floatel Triumph). The company charters these units — each equipped with DP3 dynamic positioning, telescopic gangways, deck cranes, helidecks, and hotel-standard cabins and amenities — directly to oil and gas operators on project-based, long-term contracts for offshore construction, maintenance, production, and MSU services worldwide.
Product overview
Floatel International operates a fleet of four semi-submersible offshore accommodation and construction support units: Floatel Superior, Floatel Endurance, Floatel Victory, and Floatel Triumph. These vessels provide accommodation, construction support, and logistics services for offshore energy operations in harsh environmental conditions. The fleet ranges from 440 to 560 person capacity and operates globally, with units certified for operations including the Norwegian Continental Shelf, UK Sector, Brazil, Australia, and other offshore regions worldwide.
Differentiator
Problem solved
Functional benefit
Products and services
- Floatel Superior Semi-submersible accommodation and construction support unit with 440 single-bed cabins and DP3 dynamic positioning, certified for worldwide operation including the Norwegian Sector, designed for harsh conditions in the Northern North Sea. Features include telescopic gangway, helideck, deck cranes, and hospital facilities.
- Floatel Victory Semi-submersible accommodation and construction support unit with accommodation for 560 people (42 single-bed cabins and 259 two-men cabins), equipped with Kongsberg DP3 dynamic positioning and certified to ABS class notations. Designed for worldwide operation (except Norway), including harsh conditions in the Northern North Sea.
- Floatel Endurance Semi-submersible accommodation and construction support unit with 440 single-bed cabins, equipped with Kongsberg DP3 dynamic positioning and certified to DNV class notations. Designed for worldwide operation including the Norwegian Continental Shelf and harsh conditions in the Northern North Sea.
- Floatel Triumph Semi-submersible accommodation and construction support unit with accommodation for 560 people in one and two-bed cabins, equipped with Kongsberg DP3 dynamic positioning and certified to ABS class notations. Designed for worldwide operation (except Norway) including harsh conditions in the Northern North Sea.
- MSU (Maintenance and Safety Unit) Services Specialized maintenance and safety unit (MSU) services provided to oil and gas operators, combining accommodation and dedicated maintenance support during offshore maintenance campaigns. Sold on multi-month charter contract basis to operators such as Equinor (Bacalhau, Brazil) and Brava Energia.
Quantifiable outcome
- 99.8% average commercial uptime
- +3 more outcomes
Companies that use Floatel International
Customer profileNamed customers9 records
Segments1 record
Ideal customer profiles1 record
Floatel International technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature5 records
Floatel International partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- 2Secureminor2Secure provides Floatel International's independent whistleblowing channel, screening incoming reports for potential conflicts of interest before forwarding to the Floatel Whistleblowing Working Group. Reports can be submitted via phone (+46 (0)77-177 99 77) or web portal (wb.2secure.se) 24/7. Company codes: Floatel International Group (ovv249), Floatel International AB (flt960), Floatel Crew AS (wxp702).
Scale indicators9 records
Recent moves5 records
Expansion highlights4 records
Floatel International competitors and assessment
Company assessmentBroad incumbents
- Solstad Offshore: Solstad Offshore operates a large fleet of platform supply vessels (PSVs), anchor handling tug supply (AHTS) vessels, and subsea construction vessels globally. Comparable to Floatel as a Norwegian offshore vessel operator, though Solstad's portfolio is broader and excludes floatel/accommodation specialists.
- Siem Offshore: Siem Offshore operates offshore support vessels including PSVs, AHTS, and subsea construction/ROV-support vessels, with growing activity in offshore wind. Comparable to Floatel as a Norwegian-connected offshore vessel operator serving similar E&P and emerging offshore wind customers.
- DOF Group: DOF Group operates a global fleet of offshore support vessels (PSVs, AHTS, subsea construction, ROV) primarily serving the Brazilian, North Sea, and Asia Pacific offshore markets. Comparable to Floatel as an offshore vessel operator serving major IOCs and NOCs, including Brazil — a key Floatel geography.
- BOURBON: BOURBON is a French offshore vessel operator providing PSVs, AHTS, and crew boats to global oil & gas customers. Comparable to Floatel as a global offshore marine service provider, though BOURBON focuses on shallow-water crew/PSV logistics rather than floatel accommodation.
- MISC Berhad: MISC Berhad operates a diversified offshore and shipping fleet including floating production systems and offshore support vessels, with strong Asia Pacific presence. Comparable to Floatel as an offshore vessel operator serving Malaysian/Asian E&P operators and with growing offshore wind ambitions.
- Vroon Offshore: Vroon Offshore operates PSVs, AHTS vessels, and subsea support vessels serving offshore energy markets in NW Europe, Mediterranean, West Africa, and Asia Pacific. Comparable to Floatel as a large offshore vessel operator serving oil & gas operators in similar geographies.
- Tidewater: Tidewater is the largest global operator of offshore support vessels (PSVs, AHTS, crew boats) serving more than 60 countries. Comparable to Floatel as an offshore marine service provider to E&P operators, though Tidewater is much larger and does not operate floatel/accommodation vessels.
Regional players
- Edison Chouest Offshore: Edison Chouest Offshore is a US-based offshore vessel operator with a large fleet of PSVs, AHTS, and specialty vessels concentrated in the Gulf of Mexico. Comparable to Floatel as an offshore vessel provider to oil & gas, though its geographic focus (US Gulf) overlaps only partially with Floatel's global footprint.
Direct peers
- AKOFS Offshore: AKOFS Offshore (a wholly owned subsidiary of Akastor ASA) operates offshore support services including well intervention and marine logistics for the Norwegian oil & gas market. Comparable to Floatel as a Norwegian-headquartered offshore service provider serving the same North Sea operators.
- Prosafe: Prosafe is the most direct floatel competitor, operating semi-submersible accommodation and service support vessels globally. Both companies compete for the same harsh-environment, DP3-classed charter contracts with major E&P operators, particularly on the Norwegian Continental Shelf.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Floatel International social profiles
Digital presenceFloatel International compliance and trust
Trust signalCompliance7 records
Floatel International financial estimates
Financial estimateRevenue estimate
Valuation estimate
Floatel International leadership team
Management profileNumber of profiles
Profiles8 records
Floatel International subsidiaries and ownership
Company hierarchySubsidiaries5 records
Floatel International funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Floatel International M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Floatel International
What does Floatel International do?
Floatel International provides offshore accommodation and construction support services through a fleet of four semi-submersible vessels (Floatel Superior, Floatel Victory, Floatel Endurance, and Floatel Triumph). The company charters these units — each equipped with DP3 dynamic positioning, telescopic gangways, deck cranes, helidecks, and hotel-standard cabins and amenities — directly to oil and gas operators on project-based, long-term contracts for offshore construction, maintenance, production, and MSU services worldwide.
Is Floatel International a public or private company?
Floatel International is a private company. It is classified as corporate owned and is currently operating.
When was Floatel International founded?
Floatel International was founded in 2006. It employs 251 to 500 people.
Where is Floatel International based?
Floatel International is headquartered in Oslo, Norway, in the Europe region.
How does Floatel International make money?
Two revenue lines are on record. Vessel Charter Contracts are the primary driver. The others are MSU (Maintenance and Safety Unit) Services.
Who are Floatel International's main competitors?
Broad incumbents on record are Solstad Offshore, Siem Offshore, DOF Group, BOURBON, MISC Berhad, Vroon Offshore and Tidewater. Edison Chouest Offshore is listed as a regional player. Direct peers are AKOFS Offshore and Prosafe.
Does Floatel International have an API?
No public API is recorded for Floatel International.
What industry is Floatel International in?
Floatel International's product category is Offshore Accommodation & Construction Support Services. Its primary akta.pro industry code is EUALABAJ, Offshore Marine & Aviation Support (PSVs, AHTS, Crew Boats, Helicopters), with a secondary code of TLADABAL, Offshore Support & Marine Logistics Vessel Operators (PSV/AHTS). Its NAICS code is 488390 and its SIC code is 4400.