This study focuses on the dynamic reactions of a Floating Production Storage and Offloading (FPSO) vessel to hydrodynamic wave-induced loads, particularly during side-by-side (SBS) offloading operations. The research employs the AQWA software package to simulate realistic in-situ environmental conditions and proposes a novel multi-dimensional spatiotemporal risk assessment method, known as the Gaidai risk assessment method. This method is designed to handle large datasets and complex, multidimensional systems, providing a more accurate and reliable evaluation of dynamic system failure, hazard, and damage risks. The study validates the Gaidai method by applying it to FPSO and LNG vessels, demonstrating its effectiveness in assessing the reliability of critical mooring/hawser strains. The method's advantages include the ability to handle high-dimensional systems and provide a full Life Time Distribution (LTD) rather than just an expected lifetime value. The research also discusses the experimental validation of the method and its potential applications in various marine and offshore systems.This study focuses on the dynamic reactions of a Floating Production Storage and Offloading (FPSO) vessel to hydrodynamic wave-induced loads, particularly during side-by-side (SBS) offloading operations. The research employs the AQWA software package to simulate realistic in-situ environmental conditions and proposes a novel multi-dimensional spatiotemporal risk assessment method, known as the Gaidai risk assessment method. This method is designed to handle large datasets and complex, multidimensional systems, providing a more accurate and reliable evaluation of dynamic system failure, hazard, and damage risks. The study validates the Gaidai method by applying it to FPSO and LNG vessels, demonstrating its effectiveness in assessing the reliability of critical mooring/hawser strains. The method's advantages include the ability to handle high-dimensional systems and provide a full Life Time Distribution (LTD) rather than just an expected lifetime value. The research also discusses the experimental validation of the method and its potential applications in various marine and offshore systems.