A study of the wave dynamics around a multiple cylindrical fishing cage system is carried out under the assumption of linear water wave theory and small-amplitude wave response. The Fourier-Bessel series expansion of the velocity potential is derived for the regions enclosed under the open-water and cage systems and the immediate vicinity. The scattering between the cages is accounted for by employing Graf's addition theorem. The porous flexible cage system is modeled using Darcy's law and the three-dimensional membrane equation. The edges of the cages are moored along their circumferences to balance its position. The unknown coefficients in the potentials are obtained by employing the matched eigenfunction method. In addition, the far-field scattering coefficients for the entire system are obtained by expanding the Bessel and Hankel functions in the plane wave representation form. Numerical results for the hydrodynamic forces, scattering coefficients, and power dissipation are investigated for various cage and wave parameters. The time simulation for the wave scattering from the cage system is investigated. The study reveals that wave loading on the cage system can be significantly reduced by the appropriate spatial arrangement, membrane tension, and porous-effect parameter. Moreover, the far-field results suggest that the cage system can also be used as a breakwater.