Abstract: We analyzed the ultimate strength of a bulk carrier using the incremental-iterative approach based on the Common Structural Rules for Bulk Carrier by IACS. Hence a program in FORTRAN language was developed to calculate the ultimate strength of the box structure and the bulk carrier. The sensitivity of several parameters to the ultimate hull bending moment of the bulk carrier was discussed. The ultimate strength of hull is dependent largely on the yield stress and the plate thickness. The calculation results obtained by the program were also compared with the results of related literature reported in the International Ship and Offshore Structures Congress. The comparison indicated that the program developed is reliable and has a good accuracy.