17. Commitments and Contingencies

Commitments under Contracts for Scrubber Purchases

During the year ended March 31, 2019, 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:


	March 31, 2019
Less than one year	$	9,785,394
One to three years		231,722
Three to five years		897,395
Total	$	10,914,511

Commitments under Contracts for BWMS Purchases

During the year ended March 31, 2019, we entered into contracts to purchase ballast water management systems (“BWMS”) on two of our VLGCs. We had the following contractual commitments related to the BWMS purchases:


	March 31, 2019
Less than one year	$	1,004,800
Total	$	1,004,800

Operating Leases

Operating lease rent expense was as follows:


	Year ended
	March 31, 2019		March 31, 2018		March 31, 2017
Operating lease rent expense	$	471,425	$	426,155	$	415,928

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


	March 31, 2019
Less than one year	$	422,604
One to three years		485,120
Three to five years		12,413
Total	$	920,137

Time Charter-in

Charter hire expenses for the VLGC time chartered in were as follows:


	Year ended
	March 31, 2019		March 31, 2018		March 31, 2017
Charter hire expenses	$	237,525	$	—	$	—

We had the following time charter-in commitments relating to one VLGC:


	March 31, 2019
Less than one year	$	7,535,000
Total	$	7,535,000

Fixed Time Charter Commitments

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


	March 31, 2019
Less than one year	$	29,100,613
One to three years		27,505,752
Total	$	56,606,365

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, which is reasonably possible and should be disclosed or probable and for which a provision should be established in the accompanying consolidated financial statements.