This study highlights the hazards associated with the development of a fire onboard a ship, with respect to the decision‐making alternatives of its captain. In this context, a risk assessment methodology is proposed, using the AHP method, to identify the expected hazards, caused by a fire in the engine room of a ship, as a part of a contingency planning. An analysis of 77 casualties, revealed that ships aged over 15 years and/or designed to carry RO‐RO cargoes, containers, or passengers, have a relatively high frequency of fire events in their engine rooms. Furthermore, the element of time was found to be a factor, which affects the human behaviour of the captain of a ship, as fire growths.