Vessels, Net

3 Months Ended

Jun. 30, 2021

Vessels, Net

Vessels, Net

6. Vessels, Net

			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2021	$	1,762,657,830	$	(385,629,575)	$	1,377,028,255
Other additions		4,978,922		—		4,978,922
Transfer to vessel held for sale		(62,311,861)		23,410,912		(38,900,949)
Depreciation		—		(16,476,527)		(16,476,527)
Balance, June 30, 2021	$	1,705,324,891	$	(378,695,190)	$	1,326,629,701

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, 2021. Certain of our vessels, with a total carrying value of $1,326.6 million and $1,337.4 million as of June 30, 2021 and March 31, 2021, respectively, are first-priority mortgaged as collateral for our long-term debt (refer to Note 8 below). No impairment loss was recorded for the periods presented.