With Consideration of the uncertainties of materials yield strength, still water bending moment and wave-induced bending moment, the failure equation is established based on reliability analysis method. The reliabilities of 33 ships navigating in Yangtze River are calculated using improved FOSM method, according to which the target reliability is obtained, and the partial safety factors for hull girder ultimate strength, still water bending moment and wave-induced bending moment are given. As a result the formula for probability assessment of ultimate strength is established. Verification of sample ships shows that the formula is accurate and useful.

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