In a marine energy conversion chain, faults are frequently encountered in generator or rectifier, leading to a bad performance of power output. To solve this problem, a fault tolerant topology with minimized active components and increased phase number is investigated in this paper. A Phase-Shift Self-Oscillating Current Controller (PSSOCC) is firstly presented with a detailed mathematical demonstration. Some specific faults are then supposed and a detection method is therefore introduced to make detection. Finally, the idea of output power compensation is raised and verified on simulation platform. Results indicate the possibility of power compensation by regulating the reference current after a fault is detected.