Floatel International Finds Buyer for Floatel Reliance
After a nearly six-month search, Oslo-based offshore accommodation vessel specialist Floatel International has found a buyer for one of its vessels. The company signed an agreement in principle to sell its accommodation semisub Floatel Reliance for an undisclosed fee.
The floatel will be sold for further use, and the firm deal is expected to be signed shortly. The intention is to hand over the unit to the unnamed owner during the second quarter of 2025.
The 2010-built vessel has been out of work for quite some time, with lay-up in the Canary Islands since April 2016. Floatel International had put up the vessel for sale in September last year, citing the high cost of reactivation for offshore operations and the potential 10-month reactivation period.
Despite initial hopes of selling the vessel before the end of 2024, a buyer was not secured until 2025. According to the company’s statement from last year, the vessel’s specifications did not align with the strategy to “serve tier 1 customers,” and the option of selling it for recycling was considered.