A turret/vessel bearing arrangement and method for replacing bearings in situ without removing other bearings. The bearings are capable of being separated. A removable axial spacer secures the vessel and the turret into engagement with the upper and lower thrust bearings. Removal of the spacer allows increased separation between vessel and turret flanges that sandwich the thrust bearings. The mid radial bearing assembly includes one or more radially arranged bearing pads that allow for limited axial displacement of the turret with respect to the vessel during thrust bearing replacement while still bearing radial loads and allowing rotation. The addition of a temporary thrust bearing allows the vessel to weathervane about the turret while thrust bearing are replaced in situ.