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Fixed Assets
 12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment [Abstract]  
Fixed Assets FIXED ASSETS
 
At December 31, fixed assets consisted of the following: 
 20232022
Vessels and vessel upgrades$576,153,211 $565,107,408 
Capitalized dry docking18,408,282 15,409,851 
 594,561,493 580,517,259 
Accumulated depreciation and amortization(124,477,977)(106,652,852)
Vessels, vessel upgrades and capitalized dry docking, net470,083,516 473,864,407 
Land and building2,571,585 2,541,085 
Computers, equipment and internal use software4,147,346 2,311,076 
Other fixed assets6,718,931 4,852,161 
Accumulated depreciation(2,537,276)(2,191,816)
Other fixed assets, net4,181,655 2,660,345 
Total fixed assets, net$474,265,171 $476,524,752 

At December 31, vessels under finance leases consisted of the following: 
20232022
Vessels under finance lease$40,933,207 56,061,223 
Accumulated depreciation and amortization(10,539,384)(12,139,654)
Vessels under finance lease, net$30,393,823 $43,921,569 
 
The net carrying value of the Company’s fleet consists of the following: 
 December 31,
20232022
Owned vessels 
m/v NORDIC ODYSSEY (1)
18,949,524 20,685,092 
m/v NORDIC ORION (1)
19,789,942 21,406,429 
m/v NORDIC OSHIMA (1)
22,938,264 24,292,108 
m/v NORDIC OLYMPIC (1)
23,306,330 24,627,857 
m/v NORDIC ODIN (1)
23,411,836 24,726,033 
m/v NORDIC OASIS (1)
24,853,935 26,232,723 
m/v NORDIC NULUUJAAK (2) (4)
36,088,312 37,518,857 
m/v NORDIC QINNGUA (2) (4)
36,018,502 37,428,322 
m/v NORDIC SANNGIJUQ (2) (4)
35,623,004 37,000,230 
m/v NORDIC SIKU (2) (4)
36,009,984 37,393,171 
m/v BULK ENDURANCE21,859,034 23,106,438 
m/v BULK PRUDENCE26,533,530 — 
m/v BULK COURAGEOUS (4)
15,145,246 15,755,839 
m/v BULK CONCORD (4)
18,965,726 19,394,966 
m/v BULK NEWPORT— 10,211,578 
m/v BULK FREEDOM8,150,075 7,464,118 
m/v BULK PRIDE11,194,335 12,174,942 
m/v BULK SPIRIT (4)
12,970,111 11,703,170 
m/v BULK SACHUEST16,487,253 17,188,278 
m/v BULK INDEPENDENCE13,752,517 14,879,681 
m/v BULK FRIENDSHIP (4)
12,810,712 13,680,578 
m/v BULK VALOR16,434,083 17,106,444 
m/v BULK PROMISE16,970,026 17,619,467 
MISS NORA G. PEARL (3)
1,821,235 2,268,086 
$470,083,516 $473,864,407 
Other fixed assets, net4,181,655 2,660,345 
Total fixed assets, net$474,265,171 $476,524,752 
Vessels under finance lease (4)
m/v BULK XAYMACA11,623,719 13,082,596 
m/v BULK DESTINY$18,770,104 $19,814,777 
m/v BULK TRIDENT— 11,024,196 
$30,393,823 $43,921,569 


(1)Vessels are owned by NBHC, a consolidated joint venture in which the Company has a two-third ownership interest at December 31, 2023         and December 31, 2022.

(2)Vessels are owned by NBP, a consolidated joint venture in which the Company has a 50% ownership interest at December 31, 2023 and 2021.

(3)Barge is owned by a 50% owned consolidated subsidiary.

(4)Refer to Note 10, "Finance Leases," of our Financial Statements for additional information related to the vessels under finance lease.
The Company capitalized dry-docking costs on three vessels in 2023 and four vessels in 2022. The amortization period of the capitalized dry docking costs is within the remaining useful life of these vessels and is amortized over the estimated period to next drydocking. The Company capitalized drydocking costs totaling $4.2 million and $6.0 million in the twelve months ended December 31, 2023 and 2022, respectively. These costs are recorded in Fixed assets, net or Finance lease right of use assets, net in the Consolidated Balance Sheets.