Vessels, net (Tables)

12 Months Ended

Dec. 31, 2023

Vessels, net [Abstract]

Vessels, net

The amounts in the consolidated balance sheets are analyzed as follows:

	Vessel Cost		Accumulated Depreciation			Net Book Value
Balance, December 31, 2021		163,501		(6,916	)		156,585
— Transferred from advances for vessels under construction		245,763		-			245,763
— Depreciation		-		(13,289	)		(13,289	)
Balance, December 31, 2022		409,264		(20,205	)		389,059
— Depreciation		-		(14,349	)		(14,349	)
Balance, December 31, 2023		409,264		(34,554	)		374,710

Transfers to Vessels, Net

In 2022, the Company took delivery of the following vessels and hence advances paid and capitalized expenses relating to these vessels were transferred from Advances for vessels under construction to Vessels, net:

Vessel Name	Delivery Date	Yard Installments		Capitalized Expenses		Final Cost
M/T Julius Caesar	January 17, 2022		90,008		2,056		92,064
M/T Legio X Equestris	March 2, 2022		89,995		2,138		92,133
M/T Eco Oceano CA	March 4, 2022		60,250		1,316		61,566
Total 2022			240,253		5,510		245,763