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Unaudited Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues [Abstract]        
Net pool revenues - related party $ 79,877,644 $ 137,851,402 $ 189,284,698 $ 242,237,953
Time charter revenues 2,432,989 6,475,768 5,847,340 12,899,240
Other revenues, net 122,847 371,292 1,654,484 1,124,176
Total revenues 82,433,480 144,698,462 196,786,522 256,261,369
Expenses        
Voyage expenses 752,552 1,221,228 1,557,537 1,519,611
Charter hire expenses 9,851,068 12,068,419 20,496,208 22,615,229
Vessel operating expenses 19,539,916 20,977,119 40,020,195 40,819,505
Depreciation and amortization 17,370,662 17,045,919 34,541,648 33,701,236
General and administrative expenses 16,458,650 13,578,648 26,882,720 22,796,785
Total expenses 63,972,848 64,891,333 123,498,308 121,452,366
Other income - related parties 635,454 680,950 1,281,397 1,301,383
Operating income 19,096,086 80,488,079 74,569,611 136,110,386
Other income/(expenses)        
Interest and finance costs (9,438,273) (10,314,881) (18,956,703) (20,718,730)
Interest income 4,461,174 2,030,752 8,189,681 3,720,972
Unrealized gain/(loss) on derivatives (5,583,238) 1,560,594 (6,004,865) 4,419,868
Realized gain on derivatives 1,654,119 1,928,217 3,371,368 3,775,981
Other gain/(loss), net (761,263) 819,904 (452,347) 925,325
Total other income/(expenses), net (9,667,481) (3,975,414) (13,852,866) (7,876,584)
Net income $ 9,428,605 $ 76,512,665 $ 60,716,745 $ 128,233,802
Weighted average shares outstanding:        
Basic 42,491,949 40,281,518 41,703,983 40,205,425
Diluted 42,600,848 40,405,417 41,869,209 40,388,380
Earnings per common share - basic $ 0.22 $ 1.90 $ 1.46 $ 3.19
Earnings per common share - diluted $ 0.22 $ 1.89 $ 1.45 $ 3.18