Numerical methodology to solve ship springing problem, which is basically fluid-structure interaction problem, was explored in this study. Solution of this hydroelasticity problem was sought by coupling higher order B-spline Rankine panel method and finite element method in time domain, each of which is introduced for fluid and structure domain respectively. Even though varieties of different combinations in terms of numerical scheme are possible and have been tried by many researchers to solve the problem, no systematic study regarding the characteristics of each scheme has been done so far. Here, extensive case studies have been done on the numerical schemes especially focusing on the iteration method, FE analysis of beam-like structure, handling of forward speed problem and so on. Two different iteration scheme, Newton style one and fixed point iteration, were tried in this study and results were compared between the two. For the solution of the FE-based equation of motion, direct integration and modal superposition method were compared with each other from the viewpoint of its efficiency and accuracy. Finally, calculation of second derivative of basis potential, which is difficult to obtain with accuracy within grid-based method like BEM was discussed.