diff --git a/src/openttd.cpp b/src/openttd.cpp
index be9cd54ead..e5bce69e52 100644
--- a/src/openttd.cpp
+++ b/src/openttd.cpp
@@ -1776,6 +1776,15 @@ bool AfterLoadGame(void)
 		}
 	}
 
+	/* Buoys do now store the owner of the previous water tile, which can never
+	 * be OWNER_NONE. So replace OWNER_NONE with OWNER_WATER. */
+	if (CheckSavegameVersion(46)) {
+		Station *st;
+		FOR_ALL_STATIONS(st) {
+			if (st->IsBuoy() && IsTileOwner(st->xy, OWNER_NONE)) SetTileOwner(st->xy, OWNER_WATER);
+		}
+	}
+
 	return true;
 }