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Vessels, net | 12 Months Ended
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Dec. 31, 2023
Vessels, net [Abstract] |
Vessels, net |
4. | 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 |
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 |
As of December 31, 2023 all the titles of ownership of our vessels are held by the respecting vessel lenders to secure the relevant sale and lease back financing transactions (see Note 7).

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