| Vessels, net/Advances for vessel acquisition |
| 6. |
Vessels, net/Advances for vessel acquisition:
|
The amounts in the accompanying unaudited condensed consolidated balance sheets are analyzed as follows:
|
|
|
Vessel Cost
|
|
|
Accumulated
depreciation
|
|
|
Net Book Value
|
|
|
Balance December 31, 2024
|
|
$
|
80,411,456
|
|
|
$
|
(7,643,663
|
)
|
|
$
|
72,767,793
|
|
|
Improvements, and other vessel costs
|
|
|
17,470
|
|
|
|
—
|
|
|
|
17,470
|
|
|
Spin-off of Handysize tanker vessel (Note 1)
|
|
|
(8,912,837
|
)
|
|
|
2,199,697
|
|
|
|
(6,713,140
|
)
|
|
Depreciation
|
|
|
—
|
|
|
|
(2,009,356
|
)
|
|
|
(2,009,356
|
)
|
|
Balance June 30, 2025
|
|
$
|
71,516,089
|
|
|
$
|
(7,453,322
|
)
|
|
$
|
64,062,767
|
|
| (b) |
Advances for vessel acquisition:
|
|
|
|
Advances for
vessel acquisition
|
|
|
Balance December 31, 2024
|
|
$
|
—
|
|
|
Advances for vessel acquisition
|
|
|
5,442,500
|
|
|
Balance June 30, 2025
|
|
|
5,442,500
|
|
On May 30, 2025, the Company, through Quicksilver, entered into an agreement to purchase a 2021-built MR (MR2 class) tanker vessel from an
unaffiliated third party for a purchase price of $36.25 million. The Company paid an amount of $5.4 million, which represents a 15%
advance of the purchase price. The vessel M/T Wonder Altair was delivered to the Company on July 11, 2025.
|