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v3.22.2.2

Vessels (Tables) | 6 Months Ended | 9 Months Ended | 11 Months Ended
--- | --- | --- | ---
Jun. 30, 2022 | Jun. 30, 2021 | Dec. 31, 2021 | Nov. 29, 2021
Summary of vessels, net | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ |  | Vessel Cost |  | Accumulated Depreciation |  | Net Book Value
Balance, December 31, 2021 | ​ | $ | 46,082 | ​ | $ | (354) | ​ | $ | 45,728
– Additions for improvements | ​ |  | 378 | ​ |  | — | ​ |  | 378
– Depreciation for the period | ​ |  | — | ​ |  | (2,024) | ​ |  | (2,024)
Balance, June 30, 2022 | ​ | $ | 46,460 | ​ | $ | (2,378) | ​ | $ | 44,082
|  | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​
​ |  | Vessel Cost |  | Depreciation |  | Net Book Value
– Vessels contributed by DSI | ​ | $ | 46,040 |  | ​ | — |  | $ | 46,040
– Additions and improvements | ​ |  | 42 |  | ​ | — |  | ​ | 42
– Depreciation for the period | ​ |  | — |  | ​ | (354) |  | ​ | (354)
Balance, December 31, 2021 | ​ | $ | 46,082 | ​ | $ | (354) | ​ | $ | 45,728
OceanPal Inc. Predecessors |  |  |  |
Summary of vessels, net |  | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​ | ​
​ |  | Vessel Cost |  | Depreciation |  | Net Book Value
Balance, December 31, 2020 | ​ | $ | 47,405,161 | ​ | $ | (15,155,862) | ​ | $ | 32,249,299
– Additions for improvements | ​ |  | 29,477 | ​ |  | — | ​ |  | 29,477
– Depreciation for the period | ​ |  | — | ​ |  | (1,071,390) | ​ |  | (1,071,390)
Balance, June 30, 2021 | ​ | $ | 47,434,638 | ​ | $ | (16,227,252) | ​ | $ | 31,207,386
|  | The amounts reflected in Vessels, net in the accompanying combined carve-out balance sheet as of December 31, 2020 are analyzed as follows:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Accumulated | ​ | ​
​ | ​ | Vessel Cost | ​ | Depreciation | ​ | Net Book Value
Balance, December 31, 2019 |  | $ | 38,600,196 |  | $ | (13,139,306) |  | $ | 25,460,890
– Additions for improvements |  | ​ | 1,474,965 |  | ​ | — |  | ​ | 1,474,965
– Vessel fair value adjustment |  | ​ | 200,500 |  | ​ | — |  | ​ | 200,500
– Vessel transferred from held for sale |  | ​ | 7,129,500 |  | ​ | — |  | ​ | 7,129,500
– Depreciation for the period |  | ​ | — |  | ​ | (2,016,556) |  | ​ | (2,016,556)
Balance, December 31, 2020 | ​ | $ | 47,405,161 | ​ | $ | (15,155,862) | ​ | $ | 32,249,299

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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 -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(13)) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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- Details
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