Vessels, net (Tables)

6 Months Ended

Jun. 30, 2026

The balances in the accompanying unaudited interim condensed consolidated balance sheets are analyzed as follows:

	Vessel Cost			Accumulated Depreciation			Net Book Value
Balance, December 31, 2025		311,593			(43,127	)		268,466
— Foreign currency translation differences		(827	)		12			(815	)
— Depreciation		-			(5,051	)		(5,051	)
Balance, June 30, 2026		310,766			(48,166	)		262,600

An analysis of Advances for vessels under construction is as follows:

	Advances for vessels under construction
Balance, December 31, 2025		18,207
— Advances paid		61,020
— Capitalized expenses		1,259
— Capitalized Imputed Interest		1,156
— Disposals		(18,292	)
— Foreign currency translation differences		(409	)
Balance, June 30, 2026		62,941