Vessels, Net

9 Months Ended

Dec. 31, 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		5,382,833		—		5,382,833
Depreciation		—		(49,701,629)		(49,701,629)
Balance, December 31, 2020	$	1,762,668,066	$	(369,328,029)	$	1,393,340,037

Additions to vessels, net mainly consisted of scrubber purchase and installation costs and other capital improvements for certain of our VLGCs during the nine months ended December 31, 2020. Certain of our vessels, with a total carrying value of $1,350.1 million and $1,437.7 million as of December 31, 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.