Abstract: One of the most relevant problems in ship construction and maintenance nowadays is corrosion in ballast tanks of modern merchant vessels. On the one hand, there is a general consensus that the economic lifespan of such a vessel depends, to a large degree, upon the corrosion state of its ballast tanks, while on the other hand these ballast tanks, located between the outer hull and the cargo tanks, makes routine inspection and maintenance a difficult task. Today, ship's ballast tanks are usually constructed in steel and protected with an epoxy coating backed up by sacrificial zinc anodes. Such a construction has been applied without significant alterations for many years. The objective of this economic study is to compare this construction method with some potential alternatives. The considered alternatives are: (1) an increase in structural scantlings, eliminating the necessity to replace corroded at a cost of real cargo carrying capacity of the ship, (2) application of the novel and more durable TSCF25 coating (3), the use of corrosion resistant steel in ship construction and (4) a standard PSPC15 coating combined with lifetime lasting aluminum sacrificial anodes. A cost model was used to evaluate these alternative options together with sensitivity analysis. It is concluded that the durable coating and the use of lifetime lasting aluminum anodes are bound to improve the actual basic tank concept. Corrosion resistant steel becomes attractive when the steel price becomes competitive.