$LPG
DORIAN LPG LTD.

2023 Q3 Form 10-Q Financial Statement

#000159699323000045 Filed on August 02, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $144.7M $111.6M
YoY Change 90.47% 45.22%
Cost Of Revenue $13.30M $10.85M
YoY Change 97.74% 75.55%
Gross Profit $131.4M $100.7M
YoY Change 89.77% 42.57%
Gross Profit Margin 90.81% 90.28%
Selling, General & Admin $13.60M $9.218M
YoY Change 66.34% -2.07%
% of Gross Profit 10.35% 9.15%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $17.00M $16.66M
YoY Change 6.67% 5.35%
% of Gross Profit 12.94% 16.54%
Operating Expenses $50.90M $45.10M
YoY Change 23.83% 8.14%
Operating Profit $80.49M $55.62M
YoY Change 186.05% 92.15%
Interest Expense -$4.100M -$3.585M
YoY Change -45.0% -30.33%
% of Operating Profit -5.09% -6.45%
Other Income/Expense, Net -$3.975M -$315.8K
YoY Change -49.2% -92.3%
Pretax Income $76.50M $51.72M
YoY Change 276.63% 108.15%
Income Tax
% Of Pretax Income
Net Earnings $76.51M $51.72M
YoY Change 276.7% 108.15%
Net Earnings / Revenue 52.88% 46.36%
Basic Earnings Per Share $1.90 $1.29
Diluted Earnings Per Share $1.89 $1.28
COMMON SHARES
Basic Shares Outstanding 40.39M 40.38M
Diluted Shares Outstanding 40.41M 40.38M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $192.0M $155.5M
YoY Change 35.89% 0.02%
Cash & Equivalents $192.0M $155.5M
Short-Term Investments
Other Short-Term Assets $15.70M $11.43M
YoY Change 71.66% 13.41%
Inventory $2.685M $2.378M
Prepaid Expenses
Receivables $1.011M $4.373M
Other Receivables $65.99M $67.74M
Total Short-Term Assets $277.4M $241.5M
YoY Change 33.21% 4.88%
LONG-TERM ASSETS
Property, Plant & Equipment $1.238B $1.403B
YoY Change 0.4% 12.39%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $9.500M $11.31M
YoY Change
Other Assets $83.42K $23.77M
YoY Change -96.18% 4041.36%
Total Long-Term Assets $1.507B $1.462B
YoY Change 17.68% 13.07%
TOTAL ASSETS
Total Short-Term Assets $277.4M $241.5M
Total Long-Term Assets $1.507B $1.462B
Total Assets $1.784B $1.704B
YoY Change 19.86% 11.83%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $12.45M $11.27M
YoY Change 43.73% 42.13%
Accrued Expenses $5.095M $30.48M
YoY Change -2.81% 503.12%
Deferred Revenue $278.1K
YoY Change 7617.2%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due $53.32M $53.22M
YoY Change 2.48% 2.48%
Total Short-Term Liabilities $105.3M $96.63M
YoY Change 48.34% 34.86%
LONG-TERM LIABILITIES
Long-Term Debt $578.2M $591.2M
YoY Change -2.0% -2.29%
Other Long-Term Liabilities $1.454M $130.2M
YoY Change 3.53% 7475.52%
Total Long-Term Liabilities $755.4M $721.4M
YoY Change 27.58% 18.77%
TOTAL LIABILITIES
Total Short-Term Liabilities $105.3M $96.63M
Total Long-Term Liabilities $755.4M $721.4M
Total Liabilities $860.7M $818.1M
YoY Change 29.8% 20.46%
SHAREHOLDERS EQUITY
Retained Earnings $279.1M $243.2M
YoY Change 50.68% 18.47%
Common Stock $519.6K $516.5K
YoY Change 0.73% 0.62%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $923.3M $885.6M
YoY Change
Total Liabilities & Shareholders Equity $1.784B $1.704B
YoY Change 19.86% 11.83%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $76.51M $51.72M
YoY Change 276.7% 108.15%
Depreciation, Depletion And Amortization $17.00M $16.66M
YoY Change 6.67% 5.35%
Cash From Operating Activities $100.3M $63.27M
YoY Change 103.95% 85.56%
INVESTING ACTIVITIES
Capital Expenditures $5.100M $2.345M
YoY Change -1247.23% -73.26%
Acquisitions
YoY Change
Other Investing Activities -$2.000M $0.00
YoY Change 11.01% -100.0%
Cash From Investing Activities -$7.100M -$2.345M
YoY Change 216.1% -65.65%
FINANCING ACTIVITIES
Cash Dividend Paid $700.0K $400.0K
YoY Change 75.0% -99.6%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $13.24M
YoY Change -76.51%
Cash From Financing Activities -56.70M -54.05M
YoY Change -6.85% -50.07%
NET CHANGE
Cash From Operating Activities 100.3M 63.27M
Cash From Investing Activities -7.100M -2.345M
Cash From Financing Activities -56.70M -54.05M
Net Change In Cash 36.50M 6.867M
YoY Change -361.88% -108.45%
FREE CASH FLOW
Cash From Operating Activities $100.3M $63.27M
Capital Expenditures $5.100M $2.345M
Free Cash Flow $95.20M $60.92M
YoY Change 91.84% 140.55%

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IncreaseDecreaseInOtherNoncurrentAssets
-60960
CY2023Q2 lpg Increase Decrease In Operating Lease Liabilities Current And Long Term
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrentAndLongTerm
-5864274
CY2022Q2 lpg Increase Decrease In Operating Lease Liabilities Current And Long Term
IncreaseDecreaseInOperatingLeaseLiabilitiesCurrentAndLongTerm
-2421271
CY2023Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
474385
CY2022Q2 us-gaap Increase Decrease In Accounts Payable
IncreaseDecreaseInAccountsPayable
-899490
CY2023Q2 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
-277192
CY2022Q2 us-gaap Increase Decrease In Accrued Liabilities And Other Operating Liabilities
IncreaseDecreaseInAccruedLiabilitiesAndOtherOperatingLiabilities
532888
CY2023Q2 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
73985
CY2022Q2 us-gaap Increase Decrease In Due To Related Parties
IncreaseDecreaseInDueToRelatedParties
-5898
CY2023Q2 lpg Increase Decrease In Payments For Drydocking Costs
IncreaseDecreaseInPaymentsForDrydockingCosts
2268317
CY2022Q2 lpg Increase Decrease In Payments For Drydocking Costs
IncreaseDecreaseInPaymentsForDrydockingCosts
6736
CY2023Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
63265349
CY2022Q2 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
34094374
CY2023Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2344946
CY2022Q2 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
8768399
CY2022Q2 lpg Payments To Acquire Other Fixed Assets
PaymentsToAcquireOtherFixedAssets
62286
CY2022Q2 lpg Proceeds From Sale Of Marketable Securities
ProceedsFromSaleOfMarketableSecurities
2003458
CY2023Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2344946
CY2022Q2 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6827227
CY2022Q2 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
50000000
CY2023Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
13238108
CY2022Q2 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
56358620
CY2023Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
323221
CY2022Q2 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
952250
CY2022Q2 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
1036330
CY2023Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
40491657
CY2022Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
99912142
CY2023Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-54052986
CY2022Q2 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-108259342
CY2023Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-116102
CY2022Q2 us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-252834
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
6751315
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-81245029
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
148873650
CY2023Q2 lpg Capitalized Drydocking Costs Included In Liabilities
CapitalizedDrydockingCostsIncludedInLiabilities
1588716
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
236836914
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155624965
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155591885
CY2023Q2 lpg Cash Paid During Period For Interest Excluding Interest Capitalized To Vessels
CashPaidDuringPeriodForInterestExcludingInterestCapitalizedToVessels
9693964
CY2022Q2 lpg Cash Paid During Period For Interest Excluding Interest Capitalized To Vessels
CashPaidDuringPeriodForInterestExcludingInterestCapitalizedToVessels
6566630
CY2023Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
9710098
CY2022Q2 us-gaap Operating Lease Payments
OperatingLeasePayments
2520795
CY2022Q2 lpg Capitalized Drydocking Costs Included In Liabilities
CapitalizedDrydockingCostsIncludedInLiabilities
6735
CY2023Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
1482839
CY2022Q2 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
123656
CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
1146934
CY2022Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
919643
CY2023Q2 lpg Financing Costs Incurred But Not Yet Paid
FinancingCostsIncurredButNotYetPaid
663600
CY2022Q2 lpg Financing Costs Incurred But Not Yet Paid
FinancingCostsIncurredButNotYetPaid
930467
CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
155548745
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
155518158
CY2023Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
76220
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents Noncurrent
RestrictedCashAndCashEquivalentsNoncurrent
73727
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155624965
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
155591885
CY2023Q2 lpg Capacity Of Standard Vlgc Vessel In Cubic Meters
CapacityOfStandardVlgcVesselInCubicMeters
80000
CY2023Q2 lpg Number Of Very Large Gas Carrier Vessels With Minimum Eighty Thousand Capacity
NumberOfVeryLargeGasCarrierVesselsWithMinimumEightyThousandCapacity
25
CY2023Q2 lpg Number Of Dual Fuel Eco Design Vlgcs Having84000 Cbm
NumberOfDualFuelEcoDesignVlgcsHaving84000Cbm
1
CY2023Q2 lpg Capacity Of Dual Fuel Eco Design Vlgc Vessel In Cubic Meters
CapacityOfDualFuelEcoDesignVlgcVesselInCubicMeters
84000
CY2023Q2 lpg Number Of Fuel Efficient Very Large Gas Carrier Vessels Eighty Four Thousand Capacity
NumberOfFuelEfficientVeryLargeGasCarrierVesselsEightyFourThousandCapacity
19
CY2023Q2 lpg Capacity Of Fuel Efficient Eco Design Vlgc Vessel In Cubic Meters
CapacityOfFuelEfficientEcoDesignVlgcVesselInCubicMeters
84000
CY2023Q2 lpg Number Of Very Large Gas Carrier Vessels Eighty Two Thousand Capacity
NumberOfVeryLargeGasCarrierVesselsEightyTwoThousandCapacity
1
CY2023Q2 lpg Capacity Of Modern Design Vlgc Vessel In Cubic Meters
CapacityOfModernDesignVlgcVesselInCubicMeters
82000
CY2023Q2 lpg Number Of Dual Fuel Time Chartered In Vlgcs
NumberOfDualFuelTimeCharteredInVlgcs
2
CY2023Q2 lpg Number Of Very Large Gas Carrier Time Chartered In Vessels
NumberOfVeryLargeGasCarrierTimeCharteredInVessels
2
CY2023Q2 lpg Number Of Vessels That Have Exhaust Gas Cleaning Scrubbers
NumberOfVesselsThatHaveExhaustGasCleaningScrubbers
13
CY2023Q2 lpg Number Of Chartered In Vessels That Have Exhaust Gas Cleaning Scrubbers
NumberOfCharteredInVesselsThatHaveExhaustGasCleaningScrubbers
1
CY2023Q2 lpg Number Of Vessels That Had Contracts For Exhaust Gas Cleaning Scrubbers Purchases
NumberOfVesselsThatHadContractsForExhaustGasCleaningScrubbersPurchases
3
CY2023Q1 lpg Drydocking Costs
DrydockingCosts
8367301
CY2023Q2 lpg Drydocking Costs Additions
DrydockingCostsAdditions
3622743
CY2023Q2 lpg Drydocking Costs Amortization
DrydockingCostsAmortization
793921
CY2023Q2 lpg Drydocking Costs
DrydockingCosts
11196123
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
650324325
CY2023Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
663562433
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5880533
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6195087
CY2023Q2 lpg Debt Obligations Net Of Deferred Financing Fees
DebtObligationsNetOfDeferredFinancingFees
644443792
CY2023Q1 lpg Debt Obligations Net Of Deferred Financing Fees
DebtObligationsNetOfDeferredFinancingFees
657367346
CY2023Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
53217116
CY2023Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
53110676
CY2023Q2 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
591226676
CY2023Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
604256670
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
644443792
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
657367346
CY2023Q1 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
6195087
CY2023Q2 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
314554
CY2023Q2 us-gaap Deferred Finance Costs Net
DeferredFinanceCostsNet
5880533
CY2023Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
18300000
CY2022Q2 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
6800000
CY2023Q2 lpg Charter Hire Expenses
CharterHireExpenses
10546810
CY2022Q2 lpg Charter Hire Expenses
CharterHireExpenses
5402145
CY2023Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
153022
CY2022Q2 us-gaap Operating Lease Expense
OperatingLeaseExpense
154464
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0586
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P72M
CY2023Q2 lpg Lease Balance Sheet Disclosure Table Textblock
LeaseBalanceSheetDisclosureTableTextblock
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;line-height:1.19;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:22.28%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;width:37.22%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:22.28%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Description</b></p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:37.22%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Location on Balance Sheet</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.18%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">June 30, 2023</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:15.16%;border-bottom:1.5pt solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;"><b style="font-weight:bold;">March 31, 2023</b></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Assets:</b></p></td><td style="vertical-align:bottom;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="color:#ff0000;font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="color:#ff0000;font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Non-current</b></p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="color:#ff0000;font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="color:#ff0000;font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Office leases</p></td><td style="vertical-align:bottom;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Operating lease right-of-use assets</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1,534,322</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1,654,498</p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Time charter-in VLGCs</p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Operating lease right-of-use assets</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 150,775,395</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 156,524,900</p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Liabilities:</b></p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Current</b></p></td><td style="vertical-align:bottom;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Office Leases</p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Current portion of long-term operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 444,964</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 436,810</p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Time charter-in VLGCs</p></td><td style="vertical-align:bottom;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Current portion of long-term operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 23,117,175</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 22,970,745</p></td></tr><tr><td style="vertical-align:bottom;white-space:nowrap;width:22.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:37.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;"><b style="font-weight:bold;">Long-term</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:center;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;text-align:right;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Office Leases</p></td><td style="vertical-align:bottom;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Long-term operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1,102,325</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 1,228,328</p></td></tr><tr><td style="vertical-align:bottom;width:22.28%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Time charter-in VLGCs</p></td><td style="vertical-align:bottom;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;width:37.22%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;margin:0pt;">Long-term operating leases</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.32%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 127,658,220</p></td><td style="vertical-align:bottom;white-space:nowrap;width:3.37%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;line-height:1.19;margin:0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.86%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:center;margin:0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:12.3%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;line-height:1.19;text-align:right;margin:0pt 3pt 0pt 0pt;"> 133,554,155</p></td></tr></table>
CY2023Q2 lpg Operating Lease Right Of Use Asset Office Lease
OperatingLeaseRightOfUseAssetOfficeLease
1534322
CY2022Q2 lpg Operating Lease Right Of Use Asset Office Lease
OperatingLeaseRightOfUseAssetOfficeLease
1654498
CY2023Q2 lpg Operating Lease Right Of Use Asset Time Charter
OperatingLeaseRightOfUseAssetTimeCharter
150775395
CY2022Q2 lpg Operating Lease Right Of Use Asset Time Charter
OperatingLeaseRightOfUseAssetTimeCharter
156524900
CY2023Q2 lpg Operating Lease Liability Current Office Leases
OperatingLeaseLiabilityCurrentOfficeLeases
444964
CY2022Q2 lpg Operating Lease Liability Current Office Leases
OperatingLeaseLiabilityCurrentOfficeLeases
436810
CY2023Q2 lpg Operating Lease Liability Current Time Charter
OperatingLeaseLiabilityCurrentTimeCharter
23117175
CY2022Q2 lpg Operating Lease Liability Current Time Charter
OperatingLeaseLiabilityCurrentTimeCharter
22970745
CY2023Q2 lpg Operating Lease Liability Noncurrent Office Leases
OperatingLeaseLiabilityNoncurrentOfficeLeases
1102325
CY2022Q2 lpg Operating Lease Liability Noncurrent Office Leases
OperatingLeaseLiabilityNoncurrentOfficeLeases
1228328
CY2023Q2 lpg Operating Lease Liability Noncurrent Time Charter
OperatingLeaseLiabilityNoncurrentTimeCharter
127658220
CY2022Q2 lpg Operating Lease Liability Noncurrent Time Charter
OperatingLeaseLiabilityNoncurrentTimeCharter
133554155
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
31721935
CY2023Q2 lpg Lessee Operating Lease Liability Payments Due In Two And Three Years
LesseeOperatingLeaseLiabilityPaymentsDueInTwoAndThreeYears
64137818
CY2023Q2 lpg Lessee Operating Lease Liability Payments Due In Four And Five Years
LesseeOperatingLeaseLiabilityPaymentsDueInFourAndFiveYears
49023487
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
35353139
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
180236379
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
27913695
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
152322684
CY2023Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.00
CY2023Q2 us-gaap Dividends Common Stock
DividendsCommonStock
40400000
CY2023Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
40100000
CY2023Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
300000
CY2023Q2 us-gaap Payments Of Dividends
PaymentsOfDividends
400000
CY2022Q1 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
100000000.0
CY2023Q2 lpg Share Repurchase Authority Treasury Stock Shares Acquired
ShareRepurchaseAuthorityTreasuryStockSharesAcquired
50000
CY2023Q2 lpg Treasury Stock Value Acquired Cost Method To Date
TreasuryStockValueAcquiredCostMethodToDate
700000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
1400000
CY2023Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P1Y8M23D
CY2023Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
111562907
CY2022Q2 us-gaap Revenue From Contract With Customer Excluding Assessed Tax
RevenueFromContractWithCustomerExcludingAssessedTax
76823722
CY2023Q2 us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
421253
us-gaap Marketable Securities Unrealized Gain Loss
MarketableSecuritiesUnrealizedGainLoss
768335
us-gaap Marketable Securities Realized Gain Loss
MarketableSecuritiesRealizedGainLoss
776770
CY2023Q2 us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
421253
us-gaap Marketable Securities Gain Loss
MarketableSecuritiesGainLoss
1545105
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
51721137
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
24847720
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
40137687
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
39898485
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
241148
CY2022Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
226220
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40378835
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
40124705
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.29
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.62
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.28
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.62
CY2023Q2 lpg Scrubber Purchases Contractual Obligation Due In Next Twelve Months
ScrubberPurchasesContractualObligationDueInNextTwelveMonths
4254526
CY2023Q2 lpg Time Charter In Purchases Contractual Obligation Due In Next Twelve Months
TimeCharterInPurchasesContractualObligationDueInNextTwelveMonths
11855833
CY2023Q2 lpg Time Charter In Purchases Contractual Obligation Due In Second And Third Year
TimeCharterInPurchasesContractualObligationDueInSecondAndThirdYear
21600000
CY2023Q2 lpg Time Charter In Purchases Contractual Obligation Due In Fourth And Fifth Year
TimeCharterInPurchasesContractualObligationDueInFourthAndFifthYear
21600000
CY2023Q2 lpg Time Charter In Purchases Contractual Obligation Due After Fifth Year
TimeCharterInPurchasesContractualObligationDueAfterFifthYear
21600000
CY2023Q2 lpg Time Charter In Purchases Contractual Obligation
TimeCharterInPurchasesContractualObligation
76655833
CY2023Q2 lpg Number Of Newbuild Dual Fuel Panamax Lpg Vessels
NumberOfNewbuildDualFuelPanamaxLpgVessels
1
CY2023Q2 lpg Period Of Very Large Gas Carrier Vessels That Have Charter In Commitments To Be Delivered
PeriodOfVeryLargeGasCarrierVesselsThatHaveCharterInCommitmentsToBeDelivered
P1Y
CY2023Q2 us-gaap Contractual Obligation Due In Next Twelve Months
ContractualObligationDueInNextTwelveMonths
21060000
CY2023Q2 us-gaap Contractual Obligation Due In Second And Third Year
ContractualObligationDueInSecondAndThirdYear
4522986
CY2023Q2 us-gaap Contractual Obligation
ContractualObligation
25582986

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