Vessels, Net

6 Months Ended

Sep. 30, 2023

Vessels, Net:

Vessels, Net

5. Vessels, Net

			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2023	$	1,724,463,634	$	(460,535,029)	$	1,263,928,605
Other additions		6,444,872		—		6,444,872
Depreciation		—		(31,946,055)		(31,946,055)
Balance, September 30, 2023	$	1,730,908,506	$	(492,481,084)	$	1,238,427,422

Additions to vessels, net, mainly consisted of scrubber purchases and installation costs and other capital improvements for certain of our VLGCs during the six months ended September 30, 2023. Our vessels, with a total carrying value of $1,203.9 million and $1,227.8 million as of September 30, 2023 and March 31, 2023, respectively, are first-priority mortgaged as collateral for our long-term debt (refer to Note 6 below). Captain John NP is our only VLGC that is not first-priority mortgaged as collateral for our long-term debt as of September 30, 2023 and March 31, 2023. No impairment loss was recorded for the periods presented.