In the last 10 years, the importance of whipping on the extreme hull girder loads has received much attention from designers and classification societies. The most common practice to evaluate the ultimate strength of a relatively soft floating structure is to compare the maximum dynamic vertical bending moment after a slamming event with the quasi-static hull girder capacity. Some aspects regarding the current procedure remain unclear, like the capability of the current hydro-elastic methods to accurately predict the extreme dynamic response on the basis of a linear elastic structural model. Moreover, the whipping-induced stresses have a higher frequency than the ordinary wave-induced stresses; hence, the dynamic effects may provide additional strength reserves for the structure and should be investigated. Therefore, the aim of this paper is to investigate the dynamic ultimate strength of stiffened panels considering real loading scenarios, associated with wave loads and whipping response.