Vessels, Net

3 Months Ended

Jun. 30, 2020

Vessels, Net

Vessels, Net

5. Vessels, Net

			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2020	$	1,757,285,233	$	(319,626,400)	$	1,437,658,833
Other additions		3,280,549		—		3,280,549
Depreciation		—		(16,416,669)		(16,416,669)
Balance, June 30, 2020	$	1,760,565,782	$	(336,043,069)	$	1,424,522,713

Additions to vessels, net mainly consisted of scrubber purchase and installation costs and other capital improvements for certain of our VLGCs during the three months ended June 30, 2020. Our vessels, with a total carrying value of $1,424.5 million and $1,437.7 million as of June 30, 2020 and March 31, 2020, 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.