An offshore floating production, storage, and off-loading vessel has a hull of generally cylindrical or polygonal configuration surrounding a central double tapered conical moon pool and contains water ballast and oil and/or liquefied gas storage compartments. The exterior side walls of the polygonal hull have flat surfaces and sharp corners to cut ice sheets, resist and break ice, and move ice pressure ridges away from the structure. An adjustable water ballast system induces heave, roll, pitch and surge motions of the vessel to dynamically position and maneuver the vessel to accomplish ice cutting, breaking and moving operations. The moon pool shape and other devices on the vessel provide added virtual mass for increasing the natural period of the roll and heave modes, reducing dynamic amplification and resonance due to waves and vessel motion, and facilitate maneuvering the vessel. A disconnectable turret buoy at the bottom of the moon pool connects risers and mooring lines.