One easier way to do it, though maybe not completely rigorous, is to assume the shape has mirror symmetry about some axis (this is reasonable, since if one shape satisfies the maximal area property, so will its mirror image, and so if there is a unique such shape, it must have this symmetry). Then you make the x-axis this axis of symmetry, and find a function y, corresponding to one half of the shape (this also assumes half of the shape passes the vertical line test and so corresponds to a function, which is maybe less defensible). The problem reduces to finding a function y(x) such that the perimeter:
P=2 \int_0^L \sqrt{1+\left(\frac{dy}{dx}\right)^2 } dx
is minimal subject to the constraint:
A(y)=2 \int_0^L y dx=A_0
(note how this is equivalent to maximizing the area for a constant perimeter) The Euler Lagrange equations are modified to include a constraint in a manner similar to the method of Lagrange multipliers. Namely, if you want to extremize the integral of f(y,y',x) subject to the constraint that the integral of g(y,x) is some constant, y must satisfy:
\frac{\partial f}{\partial y} -\frac{d}{dx} \left( \frac{\partial f}{\partial y'}\right) - \lambda \frac{\partial g}{\partial y} =0
where \lambda is a constant. I'm not sure how you would include a constraint that depended on y', which is why I rephrased the question to minimize perimeter. You should be able to show that y is the equation of a semi-circle, as expected.