This paper provides an in-depth analysis of alternative fuels, including liquefied natural gas (LNG), hydrogen, ammonia, and biofuels, assessing their feasibility based on operational requirements, availability, safety concerns, and the infrastructure needed for large-scale adoption. Moreover, it examines hybrid and fully electric propulsion systems, considering advancements in battery technology and the integration of renewable energy sources, such as wind and solar power, to further reduce SOV emissions. Key findings from this research indicate that LNG serves as a viable short- to medium-term solution for reducing GHG emissions in the SOV sector, due to its relatively lower carbon content compared to MDO and HFO. This paper finally insists that while LNG presents an immediate opportunity for emission reduction in the SOV sector, a combination of hydrogen, ammonia, and hybrid propulsion systems will be necessary to meet long-term decarbonisation goals. The findings underscore the importance of coordinated industry efforts, technological innovation, and supportive regulatory frameworks to overcome the technical, economic, and infrastructural challenges associated with decarbonising the maritime industry.