Financial Instruments and Fair Value Disclosures (Tables)

6 Months Ended

Sep. 30, 2018

Financial Instruments and Fair Value Disclosures

Schedule of financial derivatives

		September 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	$	17,023,975	$	—	$	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	September 30, 2018		September 30, 2017
Interest Rate Swap—Change in fair value	Unrealized gain/(loss) on derivatives	$	1,051,460	$	652,160
Interest Rate Swap—Realized gain/(loss)	Realized gain/(loss) on derivatives		830,991		(435,920)
Gain/(loss) on derivatives, net		$	1,882,451	$	216,240

		Six months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	September 30, 2018		September 30, 2017
Interest Rate Swap—Change in fair value	Unrealized gain/(loss) on derivatives	$	2,759,076	$	(1,718,031)
Interest Rate Swap—Realized gain/(loss)	Realized gain/(loss) on derivatives		1,613,556		(1,048,783)
Gain/(loss) on derivatives, net		$	4,372,632	$	(2,766,814)

Summary of carrying value and estimated fair value of Japanese Financings

	September 30, 2018				March 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Corsair Japanese Financing	$	49,020,833	$	45,410,069	$	50,645,833	$	50,645,833
Concorde Japanese Financing		53,576,923		49,330,698		55,192,308		55,192,308
Corvette Japanese Financing		54,115,385		49,792,999		55,730,769		55,730,769
CJNP Japanese Financing		21,230,000		20,993,639		—		—
CMNL Japanese Financing		20,130,942		19,894,012		—		—
CNML Japanese Financing	$	22,369,038	$	22,098,229	$	—	$	—