In the about last twenty years, more attention has been focused on marine safety on board cargo vessels. This is due to the serious cargo ship accidents taking place during the period. In the maritime industry, International Maritime Organization (IMO) implements the principles of risk management to assess risks and evaluate costs and benefits, support to decision making process. The use of risk analysis methods as decision support tools aims at enhancing maritime safety including protection of life, health, the marine environment and property. They also achieve a balance between the various technical and operational issues, including the human element, maritime safety, protection of the marine environment and costs.