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Vessels, net (Tables) | 12 Months Ended
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Dec. 31, 2023
Vessels, net [Abstract] |
Vessels, net | The amounts in the consolidated balance sheets are analyzed as follows:
|  | Vessel Cost |  |  | Accumulated Depreciation |  |  | Net Book Value |
Balance, December 31, 2021 |  |  | 163,501 |  |  |  | (6,916 | ) |  |  | 156,585 |
— Transferred from advances for vessels under construction |  |  | 245,763 |  |  |  | - |  |  |  | 245,763 |
— Depreciation |  |  | - |  |  |  | (13,289 | ) |  |  | (13,289 | )
Balance, December 31, 2022 |  |  | 409,264 |  |  |  | (20,205 | ) |  |  | 389,059 |
— Depreciation |  |  | - |  |  |  | (14,349 | ) |  |  | (14,349 | )
Balance, December 31, 2023 |  |  | 409,264 |  |  |  | (34,554 | ) |  |  | 374,710 |
Transfers to Vessels, Net | In 2022, the Company took delivery of the following vessels and hence advances paid and capitalized expenses relating to these vessels were transferred from Advances for vessels under construction to Vessels, net:
Vessel Name | Delivery Date |  | Yard Installments |  |  | Capitalized Expenses |  |  | Final Cost |
M/T Julius Caesar | January 17, 2022 |  |  | 90,008 |  |  |  | 2,056 |  |  |  | 92,064 |
M/T Legio X Equestris | March 2, 2022 |  |  | 89,995 |  |  |  | 2,138 |  |  |  | 92,133 |
M/T Eco Oceano CA | March 4, 2022 |  |  | 60,250 |  |  |  | 1,316 |  |  |  | 61,566 |
Total 2022 |  |  | 240,253 |  |  |  | 5,510 |  |  |  | 245,763 |

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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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