v3.26.1
Vessel Under Construction
12 Months Ended
Mar. 31, 2026
Vessel Under Construction:  
Vessel Under Construction

7. Vessel Under Construction

On November 24, 2023 we entered into an agreement for a newbuilding VLGC/AC with a cargo carrying capacity of 93,000 cbm that can transport LPG or ammonia, which was delivered from Hanwha Ocean Co. Ltd. in March 2026. The analysis and movement of the vessel under construction is presented in the table below:

Net book Value

Balance, April 1, 2024

$

23,829,678

Installment payments

 

11,900,370

Other capitalized expenditures

 

1,118,209

Capitalized interest

426,606

Balance, March 31, 2025

  ​ ​ ​

$

37,274,863

 

Installment payments

85,705,832

Other capitalized expenditures

3,743,539

Capitalized interest

2,517,350

Vessel delivered (transferred to Vessels, Net)

 

(129,241,584)

Balance, March 31, 2026

 

$