While the maritime transportation sector plays a critical role in the global economy, it also significantly contributes to greenhouse gas emissions. This study examines the energy efficiency, technical feasibility, and environmental impacts of ammonia as an alternative fuel in maritime transportation. The contributions of regulatory initiatives, such as the IMO's Energy Efficiency Existing Ship Index (EEXI) and the EU's FuelEU Maritime initiative, in promoting the use of low-carbon fuels to reduce emissions are discussed. The study evaluates the chemical and physical properties of ammonia, challenges associated with its combustion and production processes, with a focus on integrating renewable energy sources for green ammonia production. Findings suggest that ammonia's low reactivity and wide availability make it a promising sustainable fuel. However, overcoming challenges such as combustion difficulties and toxicity will require technological advancements. This comprehensive analysis provides an in-depth perspective on the potential contributions of ammonia to achieving decarbonization goals in the maritime sector, as well as the obstacles that must be addressed.