Effects of the alloying elements, Sn and Sb, on the corrosion resistance of modified AH 32 steel for the cargo oil tanks (COT) were examined using an electrochemical test and weight loss measurement. All experiments were carried out in acidic chloride solution (0.14 M HCl and 10 wt% NaCl, pH 0.85) at 30°C, simulating the inner bottom plate of COT. It was clearly found that the small amount addition of Sn and Sb improved the corrosion resistance of modified AH 32 steel, which is confirmed by the higher polarization resistance of AH 32 steel modified with Sn and Sb addition compared with that of the base steel. X-ray photoelectron spectroscopy analysis of the corroded surface after immersion of 72 h presented that the AH 32 steel modified with Sn and Sb addition created the protective corrosion products including SnO2 and Sb2O5. These oxides act as high corrosion inhibitor to anodic corrosion reaction, and hence leading to the improvement in the corrosion resistance of the modified AH 32 steels.