Liquid hydrogen represents a potential candidate for a climate neutral fuel for shipping. The utilization of this fuel necessitates the implementation of safe and reliable bunkering operations. This paper employs a quantitative risk assessment to compare the safety of bunkering liquid hydrogen with the safety of bunkering LNG. Initially, a frequency analysis is conducted using an event tree. It can be demonstrated, that the occurrence of the hazardous events, pool fire, flash fire and explosion, is more frequent with liquid hydrogen than with LNG. In the second step, the consequence analysis determines necessary safety distances for the hazardous events under consideration. For the events of pool fire and explosion, LNG-bunkering requires higher safety distances. Liquid hydrogen-bunkering requires higher distances for flash fire event. Since the safety distances for flash fire events are largest, they define the distances for the system. However, the consequences of flash fire events are subject to greater uncertainties and require further investigation. Overall, hazardous events occur more often with liquid hydrogen-bunkering, but LNG-bunkering requires in two out of three cases larger safety distances.