Based on effective composite material failure criteria and property limited degradation model, axial compressive ultimate strength of composite laminated stiffened panels are analyzed by nonlinear laminated degenerated 3D finite element analysis, which is based on incremental continuum-based updated Lagrangian formulation. Comparison between analytical solutions and test results in this article indicates that this article provides an effective and practical method to evaluate the axial compressive ultimate strength of composite laminated stiffened panels. Using this method, ultimate strength of hull girders made of continuous basalt fiber composite materials are analyzed . Comparing the results，it can be seen that the ship hull in basalt fiber composite materials has equivalent longitudinal ultimate strength to S-2 glass fiber composite materials, basalt fiber composite material could replace the S-2 glass fiber composite materials used in shipbuilding engineering. The gist for building ship with basalt fiber composite materials was provided by this paper.