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Vessels, net and advances for vessels under construction (Tables) | 12 Months Ended
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Dec. 31, 2022
Vessels Net And Advances For Vessels Under Construction |
Vessels, net and advances for vessels under construction (Table) | Vessels, net and advances for vessels under construction (Table)
| Vessel cost |  | Accumulated depreciation |  | Net book value
Balance as at January 1, 2021 | $ | 923,020 |  | $ | (210,823) |  | $ | 712,197
Vessel acquisitions |  | 1,256,858 |  |  | — |  |  | 1,256,858
Vessel disposals |  | (180,358) |  |  | 36,123 |  |  | (144,235)
Improvements |  | 374 |  |  | — |  |  | 374
Depreciation for the year |  | — |  |  | (43,336) |  |  | (43,336)
Balance as at December 31, 2021 | $ | 1,999,894 |  | $ | (218,036) |  | $ | 1,781,858
Vessel acquisitions |  | 121,583 |  |  | — |  |  | 121,583
Advances for vessels under construction – related party (Note 4) |  | 24,000 |  |  | — |  |  | 24,000
Vessel disposals |  | (143,692) |  |  | 63,159 |  |  | (80,533)
Improvements |  | 1,873 |  |  | — |  |  | 1,873
Depreciation for the year |  | — |  |  | (66,884) |  |  | (66,884)
Balance as at December 31, 2022 | $ | 2,003,658 |  | $ | (221,761) |  | $ | 1,781,897
Vessels, net and advances for vessels under construction - Disposals (Table) | Vessels, net and advances for vessels under construction - Disposals (Table)
Vessel |  | M/V Agamemnon |  |  | M/V Archimidis |  |  | Total
Sale price | $ | 65,000 |  | $ | 65,000 |  | $ | 130,000
Carrying value on sale |  | (41,806) |  |  | (38,727) |  |  | (80,533)
Other sale expenses |  | (1,099) |  |  | (1,093) |  |  | (2,192)
Gain on sale | $ | 22,095 |  | $ | 25,180 |  | $ | 47,275
Vessels, net and advances for vessels under construction - Disposals (Table) | Vessels, net and advances for vessels under construction - Disposals (Table)
Vessel |  | M/V CMA CGM Magdalena |  |  | M/V Adonis |  |  | Total
Sale price | $ | 99,000 |  | $ | 96,000 |  | $ | 195,000
Carrying value on sale |  | (71,598) |  |  | (72,637) |  |  | (144,235)
Other sale expenses |  | (2,018) |  |  | (1,935) |  |  | (3,953)
Gain on sale | $ | 25,384 |  | $ | 21,428 |  | $ | 46,812

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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