Partly it not a human breath record in the way you think your thinking of the "freediving record", the other responders have also mad this mistake.
Peter Colat's record is really an assisted record as for he breathed in PURE oxygen for 30 minutes. <- This is the big factor as it means his body is super oxygenated with far more oxygen in the bloodstream than for a normal person. From this you can see that his oxygen levels are increased, and his total inculding in his lungs is likely to at lest 2 times that of a normal person at sea level. (Would be interested in what the exact change is).
This gives a real air equivalent of 9 mins and 40.5 secs if his oxygen levels are rased to 2x normal.
The record for time underwater with normal air ("static apnea" record) is 11 minutes and 35 seconds and is held
held by Stefan Missoud.