Note 6 — Vessels:

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Vessel Acquisitions and Construction Commitments

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Between August 2023 and March 2024, the Company entered into agreements to construct six dual-fuel ready LNG 73,600 dwt LR1 Product Carriers at K Shipbuilding Co., Ltd.’s shipyard for an aggregate cost of approximately $359 million. The first two LR1 newbuildings were delivered during the second half of 2025 and the third and fourth LR1 newbuildings were delivered to the Company in March and April 2026, respectively. The last two LR1 newbuildings are expected to be delivered by the third quarter of 2026. The remaining commitments on the contracts for the construction of the three LR1 newbuilds as of March 31, 2026 were $121.7 million, of which approximately $115.6 million is expected to be drawn from the ECA Credit Facility in accordance with the delivery schedule.

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Disposal/Sales of Vessels

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During the three months ended March 31, 2026, the Company delivered one 2007-built MR, four 2008-built MRs, one 2010-built VLCC, and one 2012-built VLCC for net proceeds of $222.8 million and recognized a gain of $88.2 million.

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