Semisubmersible floating platforms used in offshore deep or ultradeep water environments have hull structures that are comprised of vertical cylinders (columns) connected by braces, pontoons, etc. Several of the connections between these various members are susceptible to fatigue damage. In fatigue damage assessment or fatigue reliability analysis, a global structural response analysis is typically carried out using a finite element (FE) model where internal forces or stresses in the various members are evaluated for specified sea states measured at the site. Of specific interest in the present study is the fatigue reliability analysis of brace-column connection details in a semisubmersible hull unit for selected Brazilian environmental conditions. Stress concentration factors (SCFs) for the selected critical hot spots are applied to the nominal component stresses due to axial forces and biaxial bending. The hot-spot stress response spectra are used with various spectral methods—referred to as Rayleigh, modified Rayleigh (with bandwidth correction), and Dirlik—to estimate fatigue damage using Miner's rule. Uncertainties in some parameters used in the fatigue life assessment are considered and the probability of fatigue failure in the last operational year of the structure is estimated.