XML 49 R34.htm IDEA: XBRL DOCUMENT

Investments in Joint Ventures (Tables)

12 Months Ended

Dec. 31, 2023

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Entity Joint Ventures

Details of each of the Company’s joint ventures at December 31, 2022 and 2023 are as follows:


				Proportion of ownership interest held by the Company
Name of joint venture		Principal activity		December 31, 2022				December 31, 2023
Spacegas Inc.		Ownership and operation of the vessel “Gas Defiance”			50.1	%			50.1	%
Financial Power Inc.		Ownership and operation of the vessel “Gas Shuriken”			50.1	%			50.1	%
Cannes View Inc		Ownership and operation of the vessel “Gas Haralambos”			50.1	%			50.1	%
Colorado Oil and Gas Inc.		Ownership and operation of the vessel “Eco Lucidity”			50.1	%			50.1	%
Frost Investments Corp. Inc.		Ownership and operation of the vessel “Eco Nebula” 1			50.1	%			50.1	%
MGC Agressive Holdings Inc.		Ownership and operation of the vessels “Eco Evoluzione”* 2 and “Eco Etheral” 3 and “Eco Sorcerer” 4			51.0	%			51.0	%

1	The vessel Eco Nebula was sold to an unrelated party on August 9, 2022

2	The vessel Eco Evoluzione was sold to an unrelated party on March 29, 2023

3	The vessel Gaschem Bremen was renamed Eco Ethereal on April 18, 2023

4	The vessel Eco Sorcerer was delivered to the fleet on October 6, 2023

Schedule of Equity Investment Activity

Below is a table of equity investment activity:


		Year Ended December 31,
		2022				2023
Beginning balance		$	53,323,032			$	46,632,720
Dividends received			(17,552,999	)			(19,278,000	)
Equity earnings			10,862,687				12,316,883

Investments in joint ventures		$	46,632,720			$	39,671,603