Vessels, net (Tables)

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Summary of Vessels, Net

The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:

	Vessel cost			Accumulated Depreciation			Net Book Value
Balance, December 31, 2021		872,676,077			(191,338,924	)		681,337,153
Additions		748,848			—			748,848
Impairment loss		(22,779,899	)		19,612,865			(3,167,034	)
Disposals		(12,046,017	)		—			(12,046,017	)
Transfer to Assets held for sale		(10,579,596	)		—			(10,579,596	)
Depreciation for the year		—			(27,814,901	)		(27,814,901	)
Balance, December 31, 2022		828,019,413			(199,540,960	)		628,478,453
Additions		—			—			—
Impairment loss		(15,722,992	)		12,906,119			(2,816,873	)
Disposals		(78,933,759	)		15,908,259			(63,025,500	)
Transfer to Assets held for sale		(34,633,200	)		—			(34,633,200	)
Depreciation for the year		—			(23,707,797	)		(23,707,797	)
Balance, December 31, 2023		698,729,462			(194,434,379	)		504,295,083