Vessels and vessel improvements (Tables)

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Schedule Of Vessel And Vessel Improvements

The Vessel and vessel improvements activity for the years ended December 31, 2019 and 2018 is below:

	December 31, 2019		December 31, 2018
Vessel and vessel improvements at the beginning of the year	$	682,944,936	$	690,236,419
Advance paid for vessel purchase	2,040,000		2,201,773
Purchase of vessels and vessel improvements	143,477,720		41,487,795
Sale of vessels	(14,757,027)		(10,354,855)
Reclassification to vessels held for sale	—		(8,458,444)
Scrubbers and BWTS	56,267,925		—
Depreciation expense	(34,014,470)		(32,167,752)
Vessels and vessel improvements at the end of the year	$	835,959,084	$	682,944,936