Structural reliability analysis of a pontoon-type Very Large Floating Structure (VLFS) of rectangular planar shape surrounded by gravity-type breakwater in extreme waves is performed considering the damage of breakwater. Bending and shear collapses are considered for floating structure, while overturning damage for breakwater. The ultimate bending and shear strengths of the floating structure are calculated using Idealized Structural Unit Method (ISUM) and FEM. The calculated failure probability of floating structure is compared with the specified target safety level. It has been found that the considered floating structure is most likely to fail in the bending collapse mode in transverse waves and that the corresponding failure probability satisfies the target level.

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