Vessels, net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Analysis of Vessels, Net

An analysis of vessels, net is as follows:

	Vessel Cost			Accumulated depreciation			Net book value
Balance as at January 1, 2022		231,714,888			(111,751,904	)		119,962,984
Acquisitions and improvements		118,678,560			—			118,678,560
Depreciation for the year		—			(12,290,463	)		(12,290,463	)
Balance as at December 31, 2022		350,393,448			(124,042,367	)		226,351,081
Acquisitions and improvements		39,004,423			—			39,004,423
Impairment loss (Note 1)		(10,894,124	)		1,898,101			(8,996,023	)
Disposal		(57,938,600	)		26,555,487			(31,383,113	)
Spin-off of drybulk carriers (Note 1)		(28,500,000	)					(28,500,000	)
Depreciation for the year		—			(15,629,116	)		(15,629,116	)
Balance as at December 31, 2023		292,065,147			(111,217,895	)		180,847,252