An offshore floating production, storage, and off-loading vessel has a monolithic non ship-shaped hull of polygonal configuration surrounding a central double tapered conical moon pool and contains water ballast and oil storage compartments. The exterior side walls of the 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 capable of 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. The vessel may be moored by a disconnectable turret buoy received in a support frame at the bottom of the moon pool and to which flexible well risers and mooring lines are connected.