Advances for Vessels

12 Months Ended

Dec. 31, 2025

Advances For Assets Acquisition And Assets Under Construction

Advances for Vessels

Advances for Vessels

Advances for vessels are comprised of the following:

Balance, January 1, 2024	$	89,703
Advances paid, including capitalized expenses and interest	143,869
Transferred to vessel cost (refer to Note 4)	(148,368)
Balance, December 31, 2024	$	85,204
Advances paid, including capitalized expenses and interest	42,032
Transferred to vessel cost (refer to Note 4)	(39,937)
Balance, December 31, 2025	$	87,299

Advances paid for vessels represent advances paid for vessel acquisitions, vessels under construction and vessel improvements and comprise payments of installments that were due to the respective shipyard or third-party sellers, capitalized interest, certain capitalized expenses and expenditures for major improvements and regulatory compliance. During the years ended December 31, 2024 and December 31, 2025, such payments were made for the following vessels:

•During the year ended December 31, 2024: advances for Ammoxostos, Kerynia, Pedhoulas Fighter, Pedhoulas Farmer, Efrossini and Hull 11167, Hull 11202, Hull 6303, Hull 386 and Hull 387 and BWTS and Scrubbers retrofitting and improvements for several vessels; and

•During the year ended December 31, 2025: advances for Efrossini and Hull 6303, Hull 11666, Hull 11667, Hull 386 and Hull 387 and improvements for several vessels.