Vessels Under Construction

12 Months Ended

Mar. 31, 2017

6. Vessels Under Construction


Balance, April 1, 2015	$	398,175,504
Installment payments to shipyards		867,187,966
Other capitalized expenditures		22,699,783
Capitalized interest		4,809,014
Vessels delivered (transferred to Vessels)		(1,292,872,267)
Balance, March 31, 2016		—
Balance, March 31, 2017	$	—

Other capitalized expenditures for the year ended March 31, 2016 represent LPG coolant of $5.0 million, fees paid to third party vendors of $17.3 million and $0.4 million of employee-related costs for supervision fees 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.