Commitments and Contingencies

9 Months Ended

Dec. 31, 2018

11. Commitments and Contingencies

Commitments under Contracts for Scrubber Purchases

During the nine months ended December 31, 2018, we entered into contracts to purchase scrubbers to reduce sulfur emissions on ten of our VLGCs. We had the following contractual commitments related to the scrubbers purchases:


	December 31, 2018
Less than one year	$	11,110,080
One to three years		1,171,138
Total	$	12,281,218

Operating Leases

Operating lease rent expense was as follows:


	Three months ended				Nine months ended
	December 31, 2018		December 31, 2017		December 31, 2018		December 31, 2017
Operating lease rent expense	$	120,010	$	97,382	$	353,609	$	311,932

We had the following commitments as a lessee under operating leases relating to our United States, Greece, United Kingdom, and Denmark offices:


	December 31, 2018
Less than one year	$	354,133
One to three years		471,912
Three to five years		264,578
Total	$	1,090,623

Fixed Time Charter Contracts

We had the following future minimum fixed time charter hire receipts based on non-cancelable long-term fixed time charter contracts:


	December 31, 2018
Less than one year	$	25,593,113
One to three years		8,213,252
Total	$	33,806,365

Other

From time to time we expect to be subject to legal proceedings and claims in the ordinary course of business, principally personal injury and property casualty claims. Such claims, even if lacking in merit, could result in the expenditure of significant financial and managerial resources. We are not aware of any claim that is reasonably possible and should be disclosed or probable and for which a provision should be established in the accompanying unaudited interim condensed consolidated financial statements.