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An offshore bulk fluid transfer system and method for its deployment in both shallow and deep water is disclosed. The system is adapted for transfer of fluids between a tanker and another location. Deep water embodiments of the invention provide for a three and four stair step method for deploying the base on the sea floor. Additionally, a method of retrieving the system from the sea floor is disclosed. The offshore bulk fluid transfer system comprises a base and buoyancy tanks attached to the base flotation for the system during its transportion to a mooring location. Buoyancy tanks are adapted for flooding to allow the system to be deployed on the sea floor.