In this study, the roll damping of a polar environmental transport ship (PETS) is estimated using viscous CFD method, and the parametric roll is simulated based on time-domain Rankine panel method. This method's reliability is validated by contrasting the simulation results with the experimental data of C11 container ship. The roll damping of C11 container ship is estimated using CFD method and improved Ikeda's method, respectively. Then, the time-domain Rankine panel method is adopted to simulate the roll motions of C11 container ship, and the simulation results are contrasted with experimental data. It confirms that the roll damping is calculated by CFD method and the roll motions of ships are simulated based on time-domain Rankine panel method has good applicability. Finally, the influence of wave steepness, wavelength, and the ratio of encounter frequency ωe to natural roll frequency ωroll on the parametric roll of PETS are studied. It is found that the maximum roll angle of PETS increases along with wave steepness. As the wavelength increases, the possibility of parametric roll for PETS is also increasing. When the parametric roll of PETS occurs, the ωe/ωroll tends to increase.