| Schedule of property and equipment, net |
Property
and equipment, net consist of the following:
Schedule
of property
and equipment, net
| | |
2024 | | |
2023 | |
| | |
As of December 31, | |
| | |
2024 | | |
2023 | |
| At Cost: | |
| | | |
| | |
| Dry-docking expenditures | |
$ | 14,342,245 | | |
$ | 10,511,691 | |
| Furniture and fixtures | |
| 58,174 | | |
| 62,362 | |
| Motor vehicles | |
| 252,916 | | |
| 245,090 | |
| Real property | |
| 784,966 | | |
| 808,459 | |
| Renovation and improvements | |
| 185,072 | | |
| 193,118 | |
| Tools and equipment | |
| 1,498,228 | | |
| 711,322 | |
| Vessels | |
| 34,399,919 | | |
| 35,304,935 | |
| Total, at cost | |
| 51,521,520 | | |
| 47,836,977 | |
| Less: Accumulated depreciation | |
| (19,388,059 | ) | |
| (14,663,651 | ) |
| Total, net | |
$ | 32,133,461 | | |
$ | 33,173,326 | |
|