| Schedule of Fair Value Measurements |
Schedule of Fair Value Measurements
| | |
Carrying Amount | | |
Estimated Fair | |
| | |
Level 1 | | |
Level 2 | | |
Level 3 | | |
Value | |
| December 31, 2024 | |
| | | |
| | | |
| | | |
| | |
| Investment in equity securities | |
$ | - | | |
$ | - | | |
$ | 88,908 | | |
$ | 88,908 | |
| | |
| | | |
| | | |
| | | |
| | |
| December 31, 2023 | |
| | | |
| | | |
| | | |
| | |
| Investment in equity securities | |
$ | - | | |
$ | - | | |
$ | 4,343 | | |
$ | 4,343 | |
|
| Schedule of Residual Value Rate and Useful Life of Property, Plant and Equipment |
The
residual value rate and useful life of property, plant and equipment are summarized as follows:
Schedule of Residual Value Rate and Useful Life of Property, Plant and Equipment
| Property,
Plant and Equipment |
|
Useful
Life |
| Dry-docking
expenditures |
|
2.5
years from the date of dry dock |
| Furniture
and fittings |
|
5
– 10 years |
| Leased
property |
|
Over
the life of the lease |
| Leasehold
improvements |
|
5
-10 years |
| Motor
vehicles |
|
5
years |
| Real
properties |
|
40
years |
| Shipping
tools, equipment and computers |
|
2
- 10 years |
| Vessels |
|
9
– 25 years |
|
| Schedule of Revenue By Reportable Segments |
Schedule of Revenue By Reportable Segments
| | |
2024 | | |
2023 | | |
2022 | |
| | |
Years Ended December 31, | |
| | |
2024 | | |
2023 | | |
2022 | |
| Revenue | |
$ | 688,607,542 | | |
$ | 633,079,773 | | |
$ | 702,095,390 | |
| Cost of revenue | |
| (672,562,832 | ) | |
| (620,989,960 | ) | |
| (688,832,965 | ) |
| Selling and marketing expenses | |
| (39,664 | ) | |
| (101,302 | ) | |
| (70,600 | ) |
| General and administrative expenses | |
| (5,249,099 | ) | |
| (5,127,137 | ) | |
| (5,730,970 | ) |
| Depreciation expenses | |
| (4,758,014 | ) | |
| (4,257,189 | ) | |
| (2,974,083 | ) |
| Other segment (expenses) income | |
| (3,952,786 | ) | |
| 354,527 | | |
| (1,258,650 | ) |
| Net income of single operating segment | |
$ | 2,045,147 | | |
$ | 2,958,712 | | |
$ | 3,228,122 | |
|