18. Commitments and Contingencies

Commitments under Contracts for Scrubber Purchases

We had contractual commitments to purchase scrubbers to reduce sulfur emissions as of:


	March 31, 2020
Less than one year	$	4,112,466
Total	$	4,112,466

Commitments under Contracts for Ballast Water Management Systems Purchases

We had contractual commitments to purchase ballast water management systems as of:


	March 31, 2020
Less than one year	$	937,400
Total	$	937,400

Operating Leases

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


	March 31, 2020
Less than one year	$	423,901
One to three years		278,446
Total	$	702,347

Time Charter-in

We had the following time charter-in commitments relating to VLGCs either currently in our fleet or contracted to be delivered to our fleet as of:


	March 31, 2020
Less than one year	$	18,363,500
One to three years		18,366,000
Total	$	36,729,500

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 as of:


	March 31, 2020
Less than one year	$	18,230,858
One to three years		25,852,500
Total	$	44,083,358

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.