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Advances for Vessels' Acquisitions

12 Months Ended

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, 2021			—
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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The entire disclosure for advances for vessels' acquisitions.

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