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Advances for Vessels Under Construction and Acquisitions | 12 Months Ended
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Dec. 31, 2018
Property, Plant and Equipment [Abstract] |
Advances for Vessels Under Construction and Acquisitions |
5. | Advances for Vessels Under Construction and Acquisitions
The amount shown in the accompanying consolidated balance sheet as of December 31, 2017 of $61,577,818 mainly represents advance payments to ship-builders for three LPG carriers under construction contracted in 2014. On November 17, 2016 and on July 18, 2017, the Company agreed with the shipbuilder the postponement of the delivery dates of the four newbuildings for an additional charge. For the year ended December 31, 2018, these charges of $146,667 (2017: $863,333) were included in the accompanying consolidated statement of operations under the caption “Other operating costs/(income)”. For the years ended December 31, 2017 and 2018, the movement of the account, advances for vessels under construction and acquisitions was as follows:
Balance, December 31, 2016 |  |  | 55,785,801 |
Advances for vessels under construction and acquisitions |  |  | 57,805,820 |
Capitalized interest |  |  | 813,423 |
Capitalized expenses |  |  | 2,475,138 |
Vessels delivered |  |  | (55,302,364 | )
Balance, December 31, 2017 |  |  | 61,577,818 |
Advances for vessels under construction and acquisitions |  |  | 102,597,821 |
Capitalized expenses |  |  | 5,155,821 |
Vessels delivered |  |  | (169,331,460 | )
Balance, December 31, 2018 |  |  | — |

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