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Advances for Vessels Under Construction and Vessels, net | 6 Months Ended
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Jun. 30, 2024
Advances for Vessels Under Construction and Vessels, net [Abstract] |
Advances for Vessels Under Construction and Vessels, net | 6. Advances for vessels under construction and Vessels, net It is in the Company’s normal course of business from time to time to acquire and sell vessels. Accordingly, for the six months ended June 30, 2024, the Company entered into the below transactions. Vessels under construction On February 8, 2024, the Company signed an agreement to order through Marubeni Corporation or its guaranteed nominee, an unaffiliated third party, two 81,200 dwt methanol dual fuel new-building Kamsarmax dry bulk vessels, for a purchase price of $ 46,000 each, built at Tsuneishi Group (Zhoushan) Shipbuilding Inc., China. The vessels are expected to be delivered to the Company by the second half of 2027 and the first half of 2028 respectively. On February 15, 2024, the Company paid the first instalment, which amounted to $ 8,050 for each vessel, representing 17.5 % of the contract price. As of June 30, 2024, advances for vessels under construction amounted to $ 16,583 , including $ 472 of capitalized interest. Vessel Disposals On January 19, 2024, the Company, through a wholly owned subsidiary, entered into an agreement with an unrelated third party to sell the vessel Artemis for the sale price of $ 12,990 , resulted in gain amounting to $ 1,572 . The vessel was delivered to the new owners on March 5, 2024. On February 22, 2024, the Company, through a wholly owned subsidiary, entered into an agreement with an unrelated third party to sell the vessel Houston for the sale price of $ 23,300 . The vessel was delivered to the new owners on September 4, 2024 (Note 15). The amount reflected in Vessels, net in the accompanying consolidated balance sheets is analyzed as follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2023 $ 1,114,247 $ (214,055) $ 900,192 - Additions for vessel improvements 118 - 118 - Vessel disposals (20,993) 10,266 (10,727) - Depreciation for the period - (19,260) (19,260) - Vessel held for sale (25,008) 6,583 (18,425) Balance, June 30, 2024 $ 1,068,364 $ (216,466) $ 851,898

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- Definition The entire disclosure for advances for vessels under construction and Vessels, net. + References No definition available. + Details
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- References No definition available. + Details
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