"We fear that if nothing changes there will be a major disaster. We could see a very large oil spill or a large loss of life - or both," said a spokesman for the association.
The ASOC report has been timed to coincide with the IMO’s Marine Environment Protection Committee (MEPC), which is meeting in London this week.
"The IMO is the only body that can agree stringent vessel standards, equipment and procedures in order to protect human life and the marine environment for all vessels using Antarctic waters," said James Barnes, ASOC's executive director, in a statement reported by the BBC.
The ASOC is a US-based environmental lobby group which includes over 100 organizations around the world.
Supporters of a ban on using IFO bunker fuel in Antarctic waters say a spill of fuel oil would have a significant environmental impact as the fuel would coalesce in the cold water, making it exceptionally difficult to clean up.
There have been at least six shipping incidents in little more than a year which carried a risk of major contamination in Antarctic waters, the most serious being the holing of the cruise ship M/S Explorer in November last year.