Vessels Under Construction

9 Months Ended

Dec. 31, 2015

6. Vessels Under Construction


Balance, April 1, 2015	$	398,175,504
Installment payments to shipyards		814,098,361
Other capitalized expenditures		21,184,618
Capitalized interest		4,661,154
Vessels delivered (transferred to Vessels)		(1,211,595,756)
Balance, December 31, 2015	$	26,523,881

Other capitalized expenditures for the nine months ended December 31, 2015 represent LPG coolant of $4.8 million and fees paid to third party vendors of $16.4 million for supervision and other newbuilding pre‑delivery costs including engineering and technical support, liaising with the shipyard, and ensuring key suppliers are integrated into the production planning process.