If you check the API for List you'll notice it says:
Interface List<E>
Being an interface means it cannot be instantiated (no new List() is possible).
If you check that link, you'll find some classes that implement List:
All Known Implementing Classes:
AbstractList, AbstractSequentialList, ArrayList, AttributeList, CopyOnWriteArrayList, LinkedList, RoleList, RoleUnresolvedList, Stack, Vector
Some of those can be instantiated (the ones that are not defined as abstract class). Use their links to know more about them, I.E: to know which fits better your needs.
The 3 most commonly used ones probably are:
 List<String> supplierNames1 = new ArrayList<String>();
 List<String> supplierNames2 = new LinkedList<String>();
 List<String> supplierNames3 = new Vector<String>();
Bonus:
You can also instantiate it with values, in an easier way, using the Arrays class, as follows:
List<String> supplierNames = Arrays.asList("sup1", "sup2", "sup3");
System.out.println(supplierNames.get(1));
But note you are not allowed to add more elements to that list, as it's fixed-size.