Vessels, Net

3 Months Ended

Jun. 30, 2022

Vessels, Net

Vessels, Net

5. Vessels, Net

			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2022	$	1,638,075,449	$	(400,013,759)	$	1,238,061,690
Other additions		299,592		—		299,592
Depreciation		—		(15,087,869)		(15,087,869)
Balance, June 30, 2022	$	1,638,375,041	$	(415,101,628)	$	1,223,273,413

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, 2022. Our vessels, with a total carrying value of $1,184.7 million and $1,198.7 million as of June 30, 2022 and March 31, 2022, respectively, are first-priority mortgaged as collateral for our long-term debt (refer to Note 7 below). Captain John NP is our only VLGC that is not first-priority mortgaged as collateral for our long-term debt as of June 30, 2022 and March 31, 2022. No impairment loss was recorded for the periods presented.