Because LinkedList implements Queue, whereas ArrayList does not.
Queue<Object> myQueue = new LinkedList<>(); // Works, LinkedList implements Queue
Queue<Object> myQueue = new ArrayList<>(); // Doesn't compile, ArrayList doesn't implement queue
Now, if you so wished, you could write a new class implementing Queue, and using an ArrayList as its backing container, but I don't see the appeal since you can already initialize a LinkedList from an ArrayList. Arguably, there could be some performance on the List methods (if you implemented it too) but there would be little to none on the Queue methods.
Sources:
Javadoc for Queue, LinkedList and ArrayList
Queueclass?java.util.Queueis an interface.