The present invention is a deep draft partially submersible and buoyant floating vessel comprised of at least three independent vertical columns. The columns have an upper column with an upper column diameter and a lower column integrally connected to the upper column with a lower column diameter smaller than the upper column diameters. The lower column contains a variable ballast, a free flooding ballast, and a lower column fixed ballast. The lower pontoon is connected to each lower column opposite the upper column. The lower pontoon has lower pontoon fixed ballast means. A deck is located on the columns for supporting a tensioner assembly.