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Vessels, net (Tables) | 12 Months Ended
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Dec. 31, 2025
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, 2023 |  |  | 409,264 |  |  |  | (34,554 | ) |  |  | 374,710 |
— Depreciation |  |  | - |  |  |  | (13,336 | ) |  |  | (13,336 | )
Balance, December 31, 2024 |  |  | 409,264 |  |  |  | (47,890 | ) |  |  | 361,374 |
— Additions |  |  | 28,017 |  |  |  | (1,556 | ) |  |  | 26,461 |
— Rubico Spin-off |  |  | (126,646 | ) |  |  | 18,716 |  |  |  | (107,930 | )
— Foreign currency translation differences |  |  | 958 |  |  |  | (126 | ) |  |  | 832 |
— Depreciation |  |  | - |  |  |  | (12,271 | ) |  |  | (12,271 | )
Balance, December 31, 2025 |  |  | 311,593 |  |  |  | (43,127 | ) |  |  | 268,466 |
Advances for Vessels Under Construction Contract | An analysis of Advances for vessels under construction is as follows:
|  | Advances for vessels under construction |
Balance, December 31, 2024 |  |  | - |
— Additions |  |  | 8,567 |
— Advances paid |  |  | 7,599 |
— Capitalized expenses |  |  | 1,082 |
— Capitalized Imputed interest |  |  | 629 |
— Foreign currency translation differences |  |  | 330 |
Balance, December 31, 2025 |  |  | 18,207 |

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- Definition Tabular disclosure of advances for vessels under construction. + References No definition available. + Details
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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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