Financial Instruments and Fair Value Disclosures (Tables)

3 Months Ended

Jun. 30, 2018

Financial Instruments and Fair Value Disclosures

Schedule of financial derivatives

		June 30, 2018				March 31, 2018
	Other non-current assets		Long-term liabilities		Other non-current assets		Long-term liabilities
Derivatives not designated as hedging instruments	Derivative instruments		Derivative instruments		Derivative instruments		Derivative instruments
Interest rate swap agreements	$	15,972,515	$	—	$	14,264,899	$	—

Schedule of effect of derivative instruments on the consolidated statement of operations

		Three months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	June 30, 2018		June 30, 2017
Interest Rate Swap—Change in fair value	Unrealized gain/(loss) on derivatives	$	1,707,616	$	(2,370,191)
Interest Rate Swap—Realized gain/(loss)	Realized gain/(loss) on derivatives		782,565		(612,863)
Gain/(loss) on derivatives, net		$	2,490,181	$	(2,983,054)

Summary of carrying value and estimated fair value of Japanese Financings

	June 30, 2018				March 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Corsair Japanese Financing	$	49,833,333	$	46,584,864	$	50,645,833	$	50,645,833
Concorde Japanese Financing		54,384,615		50,574,308		55,192,308		55,192,308
Corvette Japanese Financing		54,923,077		51,046,026		55,730,769		55,730,769
CJNP Japanese Financing		21,591,875		21,508,713		—		—
CMNL Japanese Financing		20,473,363		20,395,106		—		—
CNML Japanese Financing	$	22,720,387	$	22,629,188	$	—	$	—