Many longitudinally-arranged pipes in ships are equipped with loops as a measure to reduce stresses caused by displacement loads conveyed from the hull girder bending and/or thermal loads of carried fluid of non-ambient temperature. But as the loops have some negative effects such as causing extra manufacturing cost and occupying extra space, the number and the dimensions of the loops need to be minimized. In the meanwhile, a design formula for pipe loops has been developed by modeling them as a spring element of which stresses and axial stiffness are calculated based on the beam theory. But as the beam theory turns out to be inappropriate to deal with the complex structural behavior in the curved corner portion of the loop, this paper aims at improving the previously developed design formula by adopting correction factors which can allow for the gap between the results of beam theory and a more accurate analysis. This paper adopts a finite element analysis with two-dimensional shell elements with some validation work for it. The paper ends with a sample application of the proposed formulas showing their accuracy and efficiency.