The Italian government will declare a state of emergency in waters around Giglio Island if the stranded Costa Concordia starts leaking fuel.
The vessel, which has been stranded since Friday, is carry some 2,300 metric tonnes of fuel.
It is currently wedged on a rocky ledge in the middle of a natural maritime park.
A salvage operation was aborted yesterday owing to bad weather.
Rescue workers fear the Costa Concordia could slip into much deeper water and hamper their efforts to remove the wreckage.
Any declaration of a state of emergency would release special funds to avert a disaster, although there has been no detection of any fuel spilling from the ship as yet.