Floatel International

Floatel International Ltd. was established in 2006 by its board of directors and senior management team to satisfy a market demand for a new generation of offshore floatels. The vision of the Company is to own and operate the most modern, safe and reliable floatel fleet in the world to meet the increased market demand.

The Company has ordered two DP semi-submersible accommodation vessels from Keppel FELS Shipyard in Singapore. The first vessel "Floatel Superior" was delivered on March 18, 2010, 43 days ahead of schedule and commenced first charter immediately on delivery. The second vessel "Floatel Reliance" is under construction and is scheduled for delivery late 2010.