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Note 4(b) - Vessels, Net | 6 Months Ended
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Jun. 30, 2021
Notes to Financial Statements |
Property, Plant and Equipment Disclosure [Text Block] |
4.b | 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, 2020 |  |  | 146,345 |  |  |  | (10,053 | ) |  |  | 136,292 |
— Transferred from advances for vessels under construction |  |  | 126,646 |  |  |  | - |  |  |  | 126,646 |
— Impairment |  |  | (6,644 | ) |  |  | 5,484 |  |  |  | (1,160 | )
— Transferred to Vessels held for sale |  |  | (25,887 | ) |  |  | - |  |  |  | (25,887 | )
— Depreciation |  |  | - |  |  |  | (3,339 | ) |  |  | (3,339 | )
Balance, June 30, 2021 |  |  | 240,460 |  |  |  | (7,908 | ) |  |  | 232,552 |
The Company's vessel’s titles have been transferred to their respective financing banks under each respective vessel’s sale and leaseback agreement as a security, in the case of vessels sold and leased back and in the case of vessels financed via bank loans the respective vessels have been mortgaged as security under each loan facility.

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