use an if statement for both conditions.
for the shipping:
<?php if ($row_RecordsetName['ShippingColumn']==NULL && $row_RecordsetName['ShippingColumn'] =="") { ?>
Shipping is free
<?php } ?>
for the image:
<?php if ($row_RecordsetName['ImageColumn']!=NULL && $row_RecordsetName['ShippingColumn'] !="") { ?>
Show the image
<?php } ?>