Police, fire, coastguard and local council officials are meeting at North Wales Police Headquarters to discuss the salvage operation of the stricken tanker which ran aground near Colwyn Bay on Tuesday evening.
ITV Wales understands a salvage expert is on the way to the scene.
One option they might consider would be to patch up the tanker and float it to safety.
The cargo ship has 40,000 litres of fuel in its tanks which may get pumped into road tankers.
The crew of the boat have been taken to a hotel
The owners of the HV Carrier, which ran aground on the north Wales coast last week, have said it is going to be demolished.
Work is continuing to remove the fuel on board the stricken cargo ship on the North Wales coast.
Commuters in Colwyn Bay have been dealing with long tailbacks after police closed the A55 to deal with the tanker that ran aground.