Abstract: A single point mooring terminal or system which can be used for ship mooring and cargo transfer, which includes a spar type floating buoy combined with a tethered underwater buoy concentric to the spar buoy. The underwater buoy is in the form of a collar which is mounted around the spar buoy and is completely submerged and anchored to the seabed by collar mooring lines. The spar buoy is free to move vertically within the collar, but is restrained from lateral and rotary movements by the collar. Thus, the collar restrains lateral movement of the spar buoy while introducing a minimal tilting moment. A mooring swivel can be mounted on the collar of the underwater buoy, and to which the bow mooring line of a ship can be attached to permit the ship to swing freely around the buoy system.