As an important part of lifeline engineering in the development and utilization of marine resources, the submarine fluid-filled pipeline is a complex coupling system which is subjected to both internal and external flow fields. By utilizing Kennard's shell equations and combining with Helmholtz equations of flow field, the coupling equations of submarine fluid-filled pipeline for n=0 axisymmetrical wave motion are set up. Analytical expressions of wave speed are obtained for both s=1 and s=2 waves, which correspond to a fluid-dominated wave and an axial shell wave, respectively. The numerical results for wave speed and wave attenuation are obtained and discussed subsequently. It shows that the frequency depends on phase velocity, and the attenuation of this mode depends strongly on material parameters of the pipe and the internal and the external fluid fields. The characteristics of PVC pipe are studied for a comparison. The effects of shell thickness/radius ratio and density of the contained fluid on the model are also discussed. The study provides a theoretical basis and helps to accurately predict the situation of submarine pipelines, which also has practical application prospect in the field of pipeline leakage detection.