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MP Gordon Henderson says he has been reassured about the safety of the SS Richard Montgomery after a report showed its condition has not deteriorated.
A 2009 survey on the ship, which sunk off Sheerness in 1944 with thousands of bombs on board, revealed it was deteriorating more quickly than in recent years.
But Mr Henderson attended a meeting on Monday with transport minister Mike Penning and members of the Maritime and Coastguard Agency (MCA) to discuss a report from 2010.
They were shown sonar images taken from inside the ship, which show there has been no further decline in its condition.
The report will be published on the MCA’s website.
A survey was also undertaken in 2011, the results of which will not be available for some time, but Mr Henderson does not believe it will show anything to worry about.
He has also been reassured by the government’s response to the issue as it has committed to ensure a survey is taken every year and the results will be properly monitored.
A risk assessment is also currently being worked on and Mr Henderson has been promised the government will work with Kent County Council to ensure a civil contingency plan is in place, should something change with the vessel.
Mr Henderson also said the risk of a terrorist attack was considered very low and the exclusion zone around the ship, which is monitored 24 hours a day, would remain in place.
He added: “The issue was that the 2009 report was the last published report and it showed a deterioration in the structure of the Richard Montgomery, which brought forward the date when the government would have to make a decision on what was going to happen.
“My concern was there had not been a report since then.”
The American Liberty ship built during the Second World War sank after it became grounded on a bank and broke in two.
A salvage operation had to be abandoned and the wreck remains packed with explosives, including more than 2,000 cases of cluster fragmentation bombs, nearly 600 500lb semi-armour-piercing bombs and at least 1,000 additional 1,000lb bombs.