The current crude oil tanker is constructed as a double-hull structure which consists of an oil tank and a water ballast tank whose surface is coated with epoxy paint to prevent corrosion. Since the cracks that developed in the epoxy coating have caused corrosion of the interface of the water ballast tank, the identification of the parameters for crack development is important. In addition, the moisture absorption by the epoxy coating can cause deterioration of bond strength, which results in delamination of the coating and accelerates the corrosion at the interface. In this study, after the mechanical and thermo-mechanical properties of epoxy paints were measured, the residual stresses induced by the temperature change and cure shrinkage were calculated by the finite element analysis, which were compared with the experimental results. Also, the pull-off tests were performed to investigate the deterioration of the bond strength of epoxy coatings due to moisture absorption. It was found that the thermo-mechanical properties such as the coefficient of thermal expansion and glass transition temperature of the coating materials had dominant effects on the crack resistance rather than the cure shrinkage; the moisture penetration to the bonding interface caused interfacial failure and a significant deterioration of bond strength.