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v3.25.1

Vessels, net (Tables) | 12 Months Ended
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Dec. 31, 2024
Property, Plant and Equipment [Abstract] |
Summary of Vessels, Net | The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:
|  | Vessel cost |  |  | Accumulated Depreciation |  |  | Net Book Value |
Balance, December 31, 2022 |  |  | 828,019,413 |  |  |  | (199,540,960 | ) |  |  | 628,478,453 |
Impairment loss |  |  | (15,722,992 | ) |  |  | 12,906,119 |  |  |  | (2,816,873 | )
Disposals |  |  | (78,933,759 | ) |  |  | 15,908,259 |  |  |  | (63,025,500 | )
Transfer to Assets held for sale |  |  | (34,633,200 | ) |  |  | — |  |  |  | (34,633,200 | )
Depreciation for the year |  |  | — |  |  |  | (23,707,797 | ) |  |  | (23,707,797 | )
Balance, December 31, 2023 |  |  | 698,729,462 |  |  |  | (194,434,379 | ) |  |  | 504,295,083 |
Additions |  |  | 129,996,020 |  |  |  | — |  |  |  | 129,996,020 |
Depreciation for the year |  |  | — |  |  |  | (26,076,687 | ) |  |  | (26,076,687 | )
Balance, December 31, 2024 |  |  | 828,725,482 |  |  |  | (220,511,066 | ) |  |  | 608,214,416 |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -SubTopic 10 -Topic 360 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482099/360-10-50-1 + Details
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