​

  ​ ​ ​

​

​

  ​ ​ ​

Dry-docking and

  ​ ​ ​

​

​

​

​

Vessels’ cost

​

special survey costs

​

Total

Cost

​

  ​

​

  ​

​

  ​

Balance – January 1, 2025

​

$

1,138,221,805

​

$

21,843,553

​

$

1,160,065,358

Fully amortized Drydock component

​

—

​

​

(1,600,000)

​

​

(1,600,000)

Additions

​

1,720,000

​

​

3,218,335

​

​

4,938,335

Balance – December 31, 2025

​

$

1,139,941,805

​

​

23,461,888

​

​

1,163,403,693

Transfer from Advances for acquisition of vessels

​

293,346,265

​

2,400,000

​

295,746,265

Additions

​

111,560

​

​

374,842

​

​

486,402

Balance – June 30, 2026

​

$

1,433,399,630

​

​

26,236,730

​

​

1,459,636,360

​

​

​

​

​

​

​

​

​

​

Accumulated Depreciation

​

​

​

​

​

​

​

​

Balance – January 1, 2025

​

$

(195,677,625)

​

$

(5,790,213)

​

$

(201,467,838)

Fully amortized Drydock component

​

—

​

​

1,600,000

​

​

1,600,000

Depreciation charge for the year

​

(37,111,815)

​

​

(4,306,861)

​

​

(41,418,676)

Balance – December 31, 2025

​

$

(232,789,440)

​

​

(8,497,074)

​

​

(241,286,514)

Depreciation charge for the period

​

(22,251,596)

​

​

(2,485,854)

​

​

(24,737,450)

Balance – June 30, 2026

​

​

(255,041,036)

​

​

(10,982,928)

​

​

(266,023,964)

​

​

​

​

​

​

​

​

​

​

Net Book Value – December 31, 2025

​

$

907,152,365

​

$

14,964,814

​

$

922,117,179

Net Book Value – June 30, 2026

​

$

1,178,358,594

​

$

15,253,802

​

$

1,193,612,396