The International Maritime Organization and the EU are ramping up regulations to reduce greenhouse gas emissions from ships, setting ambitious targets for the coming years. As the industry faces tightening environmental standards, shipowners and operators are under pressure to transition to lower-carbon fuels. The IMO's 2023 GHG Strategy aims to cut emissions by 20% by 2030 and 70% by 2040, with new regulations on zero- and low-emission fuels expected in 2025. Similarly, the EU Emissions Trading System and FuelEU Maritime package are geared towards incentivizing greener ship operations and decarbonizing onboard fuels. However, challenges such as fuel readiness, safety issues, and storage complexities remain unresolved. To assist in this transition, ClassNK has introduced Transition Support Services to help clients navigate the shift to decarbonization. These services cover alternative fuels, energy efficiency technologies, and CO2 capture systems, tailored to individual needs. The report 'ClassNK Alternative Fuels Insight' 2.0 delves into the evolving landscape of alternative fuels in shipping, forecasting increased investments and a shift towards new fuels powering over 1,000 ships by 2026. While methanol-fueled ships are gaining traction, LNG is projected to dominate the alternative fuel ship orderbook. The overview stresses the importance of aligning fuel selection with ship characteristics and routes, considering additional costs and storage requirements. ClassNK predicts a cost gap of 1.5 to four times between alternative fuels and conventional fuel oil by 2030, with costs expected to align as production scales up. The report also anticipates growth in blue hydrogen, green methanol, and green ammonia production capacities, outlining timelines for their market penetration. Recognizing the role of biofuels in reducing CO2 emissions, ClassNK highlights their cost-effectiveness compared to hydrogen-based fuels. However, supply limitations and regulatory uncertainties pose challenges to their widespread adoption. Understanding emission factors, compliance costs, and fuel properties is crucial for informed decision-making. As the industry evolves, ClassNK emphasizes the need for a thorough understanding of regulations, fuel properties, and emission impacts. The report aims to provide ongoing updates to reflect industry trends and support stakeholders in navigating the complexities of decarbonizing international shipping.