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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 9 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2018
Dec. 31, 2017
Revenues.        
Revenues $ 55,113,295 $ 44,545,589 $ 123,565,119 $ 120,300,082
Expenses        
Voyage expenses 287,221 386,637 822,618 1,901,603
Vessel operating expenses 16,773,634 15,794,381 50,834,364 48,420,108
Depreciation and amortization 16,430,363 16,466,322 49,133,072 49,224,187
General and administrative expenses 5,156,573 5,536,028 18,768,996 19,492,082
Professional and legal fees related to the BW Proposal 7,766,847   10,020,436  
Total expenses 46,414,638 38,183,368 129,579,486 119,037,980
Other income—related parties 614,633 633,883 1,843,782 1,905,836
Operating income (loss) 9,313,290 6,996,104 (4,170,585) 3,167,938
Other income/(expenses)        
Interest and finance costs (10,000,018) (8,683,257) (30,526,971) (24,763,421)
Interest income 413,546 103,446 1,326,442 147,488
Unrealized gain/(loss) on derivatives (6,669,266) 3,771,160 (3,910,190) 2,053,129
Realized gain/(loss) on derivatives 881,276 (369,941) 2,494,832 (1,418,724)
Gain on early extinguishment of debt       4,117,364
Other gain/(loss), net (157,480) (147,097) (205,858) (238,465)
Total other income/(expenses), net (15,531,942) (5,325,689) (30,821,745) (20,102,629)
Net income/(loss) $ (6,218,652) $ 1,670,415 $ (34,992,330) $ (16,934,691)
Weighted average shares outstanding Basic (in shares) 54,441,203 54,086,431 54,356,060 54,013,164
Weighted average shares outstanding Diluted (in shares) 54,441,203 54,242,947 54,356,060 54,013,164
Earnings/(loss) per common share – basic (in dollars per share) $ (0.11) $ 0.03 $ (0.64) $ (0.31)
Earnings/(loss) per common share – diluted (in dollars per share) $ (0.11) $ 0.03 $ (0.64) $ (0.31)
Net pool revenue - related party        
Revenues.        
Revenues $ 46,683,295 $ 31,610,427 $ 94,816,738 $ 80,554,166
Time charter revenue        
Revenues.        
Revenues 8,370,000 12,498,849 28,477,881 37,570,898
Voyage charter revenue        
Revenues.        
Revenues   335,244   2,068,491
Other revenues, net        
Revenues.        
Revenues $ 60,000 $ 101,069 $ 270,500 $ 106,527