In the first report the authors proposed a procedure of life assessment of ships and offshore structures, and it was shown, that special attention should be paid to fatigue strength as well as prevention of corrosion on hull structures for ageing ships. In this report is described a result of a risk assessment to a fatigue strength of a hull structure for a model of VLCC that is assumed as operating for 25 years. Results of assessment indicate that she will have capability of achieving a 25 year life if the superior program among the practically feasible maintenance and inspection strategies is applied to.