Floating offshore wind turbines (FOWTs) are an opportunity for floating production storage and offloading units (FPSOs) to reduce emissions. To avoid long connecting power cables with long transmission distances between a FOWT and an FPSO, the novel concept of a suspended power cable in a large water depth of 1000 m is investigated in this study. The power cable is kept floating between the sea surface and the seabed without touching either of them. A catenary configuration and two configurations with subsea buoys attached at different locations along the cable are investigated. The OC3-Hywind 5 MW reference FOWT is set up with a deepwater mooring system, and a spread-moored FPSO is modeled with characteristics similar to existing FPSOs. Steady-state and dynamic simulations are carried out in the numerical software OrcaFlex. The different configurations are first evaluated in steady-state analyses. The largest tensions are observed for the catenary configuration, whereas it shows the lowest horizontal cable excursions. Buoys attached along the center section of the cable lift it into regions with strong currents. This results in a large horizontal excursion of the cable and large tensions. The suspended configuration with buoys attached evenly over the cable results in significantly lower tensions than the other two configurations. It is studied further with dynamic analyses. The tensions at the floater hang-offs increase by a maximum of 24% compared to steady-state results indicating that dynamic analysis is crucial for the design of suspended cable configurations.