Semi-submersible floating decanters and methods of use are provided. The decanters are moveable between a non-decant position and a decant position, and include a float forming an internal cavity, the float having a central annulus, a weir having an inlet opening and positioned within the center of the annulus and fixedly connected to the float forming a passage between the float and the weir, and a discharge conduit connected to the weir for discharging a supernatant fluid therefrom. A depth adjusting mechanism is provided for moving the decanter within a liquid between a non-decant position wherein the inlet opening is above the surface of the liquid and a decant position wherein the inlet opening is positioned within the supernatant to allow the supernatant to be withdrawn, the depth adjusting mechanism including a pumping mechanism for moving a fluid relative to the internal cavity.