Vessels, Net

9 Months Ended

Dec. 31, 2018

Vessels, Net

Vessels, Net

5.  Vessels, Net

			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2018	$	1,728,987,980	$	(189,876,147)	$	1,539,111,833
Other additions		2,706,699		—		2,706,699
Depreciation		—		(48,667,621)		(48,667,621)
Balance, December 31, 2018	$	1,731,694,679	$	(238,543,768)	$	1,493,150,911

Additions to vessels, net mainly consisted of the first installment on the purchase of scrubbers for ten of our VLGCs during the nine months ended December 31, 2018. Our vessels, with a total carrying value of $1,493.2 million and $1,539.1 million as of December 31, 2018 and March 31, 2018, respectively, are first‑priority mortgaged as collateral for our long-term debt (refer to Note 6 below). No impairment loss was recorded for the periods presented.