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Advances for Vessels' Acquisitions | 12 Months Ended
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Dec. 31, 2023
Property, Plant and Equipment [Abstract] |
Advances for Vessels' Acquisitions | 5. Advances for Vessels’ Acquisitions For the years ended December 31, 2022 and 2023, the movement of the account, advances for vessels’ acquisitions was as follows:
Balance, December 31, 202 1 |  |  | — |
Advances for vessels’ acquisitions |  |  | 23,400,000 |
Balance, December 31, 2022 |  |  | 23,400,000 |
Other capitalized expenses |  |  | 14,570 |
Balance, December 31, 2023 |  |  | 23,414,570 |
The amount of $23,400,000 paid during 2022 represents total advances paid to related parties for the acquisition of the vessels Eco Oracle and Eco Wizard (Note 3).

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