A new numerical approach is proposed to address problems of free liquid vibrations in axisymmetric compound rigid shells using a singular boundary method. The liquid is supposed to be perfect and incompressible, and its flow is irrotational so the liquid velocity can be presented as a potential gradient. The approximation of a small fluid surface elevation is used, and the free surface function is presented as a sum of the fluid-filled shell height and the small elevation function. A series expansion of the potential function about stationary states is used. To find the stationary states, an eigenvalue problem is formulated. Eigenvalues and eigenvectors are obtained using the singular boundary method with the origin intensity factor as the singular integral over the singular boundary element. The numerical results for free vibration analysis of cylindrical shells, obtained by singular boundary method and direct boundary element methods, are compared. Different compound rigid shells are considered in numerical simulations of free liquid vibrations.