Alongside the economic growth demands for further use of resources increase as well. As a result of this transportation of industrial products all over the world will also increase, in particular through shipping. In this study a new innovative concept for transport of cargo, the CargoXpress vessel, is presented and analysed over the life cycle in terms of costs and environmental effects. In the life cycle cost analysis the influence of future price scenarios for LNG-fuel and structural material is investigated through sensitivity analysis. For the environmental study life cycle assessment is used according to ISO 14044:2006. In direct comparative analysis the environmental impacts and costs over the life cycle of the new vessel is compared to road transport by truck. Then also analysis is made by selecting different existing transport scenarios were the new vessel is compared to road transports. The results from both cost and environmental analysis clearly present benefits for transporting goods with the CargoXpress vessel. Regarding the cost several factors in combination plays an important role for the outcome as initial investment cost, price development of fuel and interest rate. For the environmental analysis the innovative vessel is shown to be the preferable alternative.