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Note 4 - Vessels, Net | 6 Months Ended
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Jun. 30, 2019
Notes to Financial Statements |
Property, Plant and Equipment Disclosure [Text Block] |
4. | Vessels, net:
The balances in the accompanying unaudited interim condensed consolidated balance sheets are analyzed as follows:
|  | Vessel Cost |  | Accumulated Depreciation |  | Net Book Value
Balance, December 31, 2018 |  |  | 196,784 |  |  |  | (16,149 | ) |  |  | 180,635 |
— Transferred from advances for vessels acquisitions / under construction |  |  | 38,744 |  |  |  | - |  |  |  | 38,744 |
— Advances paid |  |  | 147,632 |  |  |  | - |  |  |  | 147,632 |
— Capitalized expenses |  |  | 2,844 |  |  |  | - |  |  |  | 2,844 |
— Depreciation |  |  | - |  |  |  | (5,305 | ) |  |  | (5,305 | )
Balance, June 30, 2019 |  |  | 386,004 |  |  |  | (21,454 | ) |  |  | 364,550 |
The Company's vessels have been mortgaged as security under its loan facilities (see Note 7 ). On January 30, March 13, April 5 and May 9, 2019, the Company took delivery of M/T Eco California, M/T Eco Marina Del Ray, M/T Eco Bel Air and M/T Eco Beverly Hills respectively from Hyundai (the first two vessels from Hyundai Mipo Vinashin and the second two vessels from Hyundai Mipo Dockyard).

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- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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