Floatel Victory secures Brazil contract, CEO presents strategic outlook

Floatel International Ltd has converted a letter of intent for its Floatel Victory vessel into a firm contract for Maintenance and Safety Unit (MSU) services offshore Brazil. The assignment, scheduled to begin in February 2026, is for four months with an option for extension. This new contract contributes to Floatel International's backlog, which stands at $347 million as of August 2025, with an additional $164 million in options.

Chief executive Peter Jacobsson is presenting at the Pareto Securities' Energy Conference today, September 10, 2025. The presentation highlights Floatel International's modern fleet of four semi-submersible units, delivered between 2010 and 2016, offering high-quality offshore accommodation and construction support. The company maintains a robust shareholder structure, with Keppel Group holding 49.9%, other investors 40.1%, and management 10.0%.

The presentation also details the company's financial standing and upcoming capital expenditures projected to be $28.0 million in 2024, $14.3 million in 2025E, and $45.1 million in 2026E. Floatel International continues to focus on maintaining and modernizing its fleet, exploring strategic mergers and acquisitions, and diversifying into new markets.