Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Jun. 30, 2025	Jul. 30, 2025
Cover Abstract
Entity Registrant Name	DORIAN LPG LTD.
Entity Central Index Key	0001596993
Document Type	10-Q
Document Period End Date	Jun. 30, 2025
Document Quarterly Report	true
Document Transition Report	false
Securities Act File Number	001-36437
Entity Incorporation, State or Country Code	1T
Entity Tax Identification Number	66-0818228
Entity Address, Address Line One	27 Signal Road
Entity Address, City or Town	Stamford
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06902
City Area Code	203
Local Phone Number	674-9900
Title of 12(b) Security	Common stock, par value $0.01 per share
Trading Symbol	LPG
Security Exchange Name	NYSE
Amendment Flag	false
Current Fiscal Year End Date	--03-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Common Stock, Shares Outstanding		42,647,720
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1

Condensed Consolidated Balance Sheets - USD ($)	Jun. 30, 2025	Mar. 31, 2025
Current assets
Cash and cash equivalents	$ 277,921,450	$ 316,877,584
Trade receivables, net and accrued revenues	1,550,709	1,356,827
Due from related parties	74,762,042	48,090,301
Inventories	2,410,458	2,508,684
Prepaid expenses and other current assets	15,015,159	13,523,008
Total current assets	371,659,818	382,356,404
Fixed assets
Vessels, net	1,134,400,127	1,149,806,782
Vessel under construction	39,274,822	37,274,863
Total fixed assets	1,173,674,949	1,187,081,645
Other non-current assets
Deferred charges, net	21,392,990	17,237,662
Derivative instruments	2,313,652	3,497,493
Due from related parties-non-current	26,400,000	26,400,000
Restricted cash - non-current	81,464	76,028
Operating lease right-of-use assets	150,754,249	159,212,010
Other non-current assets	2,806,183	2,799,038
Total assets	1,749,083,305	1,778,660,280
Current liabilities
Trade accounts payable	14,070,845	11,549,950
Accrued expenses	6,340,991	5,387,465
Due to related parties	277,543	39,339
Deferred income	620,097	679,257
Current portion of long-term operating lease liabilities	35,397,877	34,808,203
Current portion of long-term debt	54,110,683	54,504,778
Dividends payable	1,027,746	915,150
Total current liabilities	111,845,782	107,884,142
Long-term liabilities
Long-term debt-net of current portion and deferred financing fees	485,497,697	498,773,969
Long-term operating lease liabilities	115,371,259	124,419,545
Other long-term liabilities	1,569,042	1,476,439
Total long-term liabilities	602,437,998	624,669,953
Total liabilities	714,283,780	732,554,095
Shareholders' equity
Preferred stock, $0.01 par value, 50,000,000 shares authorized, none issued nor outstanding
Common stock, $0.01 par value, 450,000,000 shares authorized, 54,324,437 and 54,324,437 shares issued, 42,647,720 and 42,747,720 shares outstanding (net of treasury stock), as of June 30, 2025 and March 31, 2025, respectively	543,244	543,244
Additional paid-in-capital	869,281,952	867,524,073
Treasury stock, at cost; 11,676,717 and 11,576,717 shares as of June 30, 2025 and March 31, 2025, respectively	(134,926,737)	(133,103,957)
Retained earnings	299,901,066	311,142,825
Total shareholders' equity	1,034,799,525	1,046,106,185
Total liabilities and shareholders' equity	$ 1,749,083,305	$ 1,778,660,280

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2025	Mar. 31, 2025
Condensed Consolidated Balance Sheets
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares issued	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	450,000,000	450,000,000
Common stock, shares issued	54,324,437	54,324,437
Common stock, shares outstanding (net of treasury stock)	42,647,720	42,747,720
Treasury stock, shares at cost	11,676,717	11,576,717

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Revenues [Abstract]
Net pool revenues - related party	$ 83,842,752	$ 109,407,054
Time charter revenues		3,414,351
Other revenues, net	369,214	1,531,637
Total revenues	84,211,966	114,353,042
Expenses
Voyage expenses	1,342,756	804,985
Charter hire expenses	10,721,911	10,645,140
Vessel operating expenses	21,911,606	20,480,279
Depreciation and amortization	18,379,147	17,170,986
General and administrative expenses	16,910,101	10,424,070
Total expenses	69,265,521	59,525,460
Other income - related parties	645,364	645,943
Operating income	15,591,809	55,473,525
Other income/(expenses)
Interest and finance costs	(7,714,797)	(9,518,430)
Interest income	2,843,446	3,728,507
Unrealized loss on derivatives	(1,183,841)	(421,627)
Realized gain on derivatives	539,429	1,717,249
Other gain, net	6,055	308,916
Total other expenses, net	(5,509,708)	(4,185,385)
Net income	$ 10,082,101	$ 51,288,140
Weighted average shares outstanding:
Basic	42,427,473	40,905,196
Diluted	42,488,024	41,115,667
Earnings per common share - basic	$ 0.24	$ 1.25
Earnings per common share - diluted	$ 0.24	$ 1.25

Condensed Consolidated Statements of Shareholders Equity - USD ($)	Common stock	Treasury Stock	Additional paid-in capital	Retained Earnings	Total
Balance - beginning at Mar. 31, 2024	$ 519,950	$ (126,837,239)	$ 772,714,486	$ 377,135,886	$ 1,023,533,083
Balance - beginning (Shares) at Mar. 31, 2024	51,995,027
Increase (Decrease) in Shareholders' Equity
Net Income (Loss)				51,288,140	51,288,140
Common share issuance	$ 20,000		84,367,701		84,387,701
Common share issuance (Shares)	2,000,000
Dividend ($1.00 per common share)				(40,619,448)	(40,619,448)
Stock-based compensation			1,275,459		1,275,459
Balance - Ending at Jun. 30, 2024	$ 539,950	(126,837,239)	858,357,646	387,804,578	1,119,864,935
Balance - ending (Shares) at Jun. 30, 2024	53,995,027
Balance - beginning at Mar. 31, 2025	$ 543,244	(133,103,957)	867,524,073	311,142,825	1,046,106,185
Balance - beginning (Shares) at Mar. 31, 2025	54,324,437
Increase (Decrease) in Shareholders' Equity
Net Income (Loss)				10,082,101	10,082,101
Dividend ($0.50 per common share)				(21,323,860)	(21,323,860)
Stock-based compensation			1,757,879		1,757,879
Purchase of treasury stock		(1,822,780)			(1,822,780)
Balance - Ending at Jun. 30, 2025	$ 543,244	$ (134,926,737)	$ 869,281,952	$ 299,901,066	$ 1,034,799,525
Balance - ending (Shares) at Jun. 30, 2025	54,324,437

Condensed Consolidated Statements of Shareholders Equity (Parenthetical) - $ / shares	3 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Condensed Consolidated Statements of Shareholders Equity
Dividends per share	$ 0.5	$ 1

Condensed Consolidated Statements of Cash Flows	3 Months Ended
Condensed Consolidated Statements of Cash Flows	Jun. 30, 2025 USD ($)	Jun. 30, 2024 USD ($)
Cash flows from operating activities:
Net income	$ 10,082,101	$ 51,288,140
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	18,379,147	17,170,986
Non-cash lease expense	8,490,242	7,901,447
Amortization of financing costs	295,249	317,511
Unrealized loss on derivatives	1,183,841	421,627
Stock-based compensation expense	1,757,879	1,275,459
Unrealized foreign currency (gain)/loss, net	(241,006)	12,181
Other non-cash items, net	21,610	(356,408)
Changes in operating assets and liabilities
Trade receivables, inventories, prepaid expenses, and other current and non-current assets	(1,574,245)	188,315
Due from related parties	(26,671,741)	(26,889,389)
Operating lease liabilities - current and long-term	(8,491,076)	(7,901,255)
Trade accounts payable	1,147,369	(1,471,968)
Accrued expenses and other liabilities	356,959	524,776
Due to related parties	238,204	(17)
Payments for drydocking costs	(4,160,059)	(1,256,621)
Net cash provided by operating activities	814,474	41,224,784
Cash flows from investing activities:
Payments for vessels under construction and other capital expenditures for vessels	(3,056,789)	(1,251,982)
Net cash used in investing activities	(3,056,789)	(1,251,982)
Cash flows from financing activities:
Repayment of long-term debt borrowings	(13,965,616)	(13,344,548)
Repurchase of common stock	(1,822,780)
Dividends paid	(21,211,264)	(40,362,938)
Proceeds from common share issuances		89,000,000
Equity offering costs paid		(4,462,214)
Net cash provided by/(used in) financing activities	(36,999,660)	30,830,300
Effects of exchange rates on cash and cash equivalents	291,277	(25,046)
Net increase/(decrease) in cash, cash equivalents, and restricted cash	(38,950,698)	70,778,056
Cash, cash equivalents, and restricted cash at the beginning of the period	316,953,612	282,583,769
Cash, cash equivalents, and restricted cash at the end of the period	278,002,914	353,361,825
Supplemental disclosure of cash flow information
Cash paid for interest, net of amounts capitalized	7,565,280	8,920,873
Cash paid for operating leases	10,735,854	10,627,185
Capitalized drydocking costs included in liabilities	5,005,670	206,717
Vessel-related capital expenditures included in liabilities	620,893	1,201,213
Unpaid dividends included in liabilities	1,027,746	1,406,175
Financing costs included in liabilities	663,600	663,600
Equity offering costs included in liabilities		150,085
Reconcilliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets to the total amount of such items reported in the statements of cash flows:
Cash and cash equivalents	277,921,450	353,286,506
Restricted cash - non-current	81,464	75,319
Cash and cash equivalents and restricted cash at end of period shown in the statement of cash flows	$ 278,002,914	$ 353,361,825

Basis of Presentation and General Information

3 Months Ended

Jun. 30, 2025

Basis of Presentation and General Information:

Basis of Presentation and General Information

1. Basis of Presentation and General Information

Dorian LPG Ltd. (“Dorian”) was incorporated on July 1, 2013 under the laws of the Republic of the Marshall Islands, is headquartered in the United States, and is engaged in the transportation of liquefied petroleum gas (“LPG”) worldwide. Specifically, Dorian and its subsidiaries (together “we”, “us”, “our”, or the “Company”) are focused on owning and operating very large gas carriers (“VLGCs”), each with a cargo carrying capacity of greater than 80,000 cbm, in the LPG shipping industry. As of June 30, 2025, our fleet consists of twenty-six VLGCs, including one dual-fuel 84,000 cbm ECO-design VLGC, or our Dual-fuel ECO VLGC; nineteen fuel-efficient 84,000 cbm ECO-design VLGCs, or our ECO VLGCs; one 82,000 cbm modern VLGC; four time chartered-in dual-fuel VLGCs, three of which are Panamax size; and one time chartered-in ECO VLGC. On November 24, 2023, we entered into a shipbuilding contract for a newbuilding Very Large Gas Carrier / Ammonia Carrier (“VLGC/AC”) with a cargo carrying capacity of 93,000 cbm that can transport LPG or ammonia and is expected to be delivered from Hanwha Ocean Co. Ltd. in the second calendar quarter of 2026. We provide in-house commercial management services for all of our vessels, including our vessels deployed in the Helios Pool (defined below), which may also receive commercial management services from MOL Energia (defined below). Excluding our time chartered-in vessels, we provide in-house technical management services for all of our vessels, including our vessels deployed in the Helios Pool.

Sixteen of our ECO-VLGCs, including one of our time chartered-in ECO-VLGCs, are equipped with exhaust gas cleaning systems (commonly referred to as “scrubbers”) to reduce sulfur emissions and, as of June 30, 2025, we have additional commitments to commission scrubbers on one of our VLGCs and on our newbuilding VLGC/AC. Additionally, one of the chartered-in dual-fuel Panamax size VLGCs is equipped with a shaft generator, which generates additional electricity that can be used to reduce fuel consumption and carbon emissions.

On April 1, 2015, Dorian and MOL Energia Pte. Ltd. (“MOL Energia”), formerly known as Phoenix Tankers Pte. Ltd., began operations of Helios LPG Pool LLC (the “Helios Pool”), which entered into pool participation agreements for the purpose of establishing and operating, as charterer, under variable rate time charters to be entered into with owners or disponent owners of VLGCs, a commercial pool of VLGCs whereby revenues and expenses are shared. Refer to Note 4 below for further description of the Helios Pool.

The unaudited interim condensed consolidated financial statements and related notes have been prepared in accordance with generally accepted accounting principles in the United States of America (“U.S. GAAP”) for interim financial information and related Securities and Exchange Commission (“SEC”) rules for interim financial reporting. Accordingly, they do not include all of the information and footnotes required by U.S. GAAP for complete financial statements. In our opinion, all adjustments necessary for a fair presentation of financial position, operating results and cash flows have been included in the unaudited interim condensed consolidated financial statements and related notes. The unaudited interim condensed consolidated financial statements and related notes should be read in conjunction with the audited consolidated financial statements and related notes for the year ended March 31, 2025 included in our Annual Report on Form 10-K filed with the SEC on May 29, 2025.

Our interim results are subject to seasonal and other fluctuations, and the operating results for any quarter are therefore not necessarily indicative of results that may be otherwise expected for the entire year.

Our subsidiaries as of June 30, 2025, which are all wholly-owned and are incorporated in the Republic of the Marshall Islands (unless otherwise noted), are listed below.

Vessel Subsidiaries


	Type of
Subsidiary	vessel	Vessel’s name	Built	CBM⁽¹⁾
CJNP LPG Transport LLC	VLGC	Captain John NP	2007	82,000
Comet LPG Transport LLC	VLGC	Comet	2014	84,000
Corsair LPG Transport LLC	VLGC	Corsair⁽²⁾	2014	84,000
Corvette LPG Transport LLC	VLGC	Corvette	2015	84,000
Dorian Shanghai LPG Transport LLC	VLGC	Cougar⁽²⁾	2015	84,000
Concorde LPG Transport LLC	VLGC	Concorde	2015	84,000
Dorian Houston LPG Transport LLC	VLGC	Cobra	2015	84,000
Dorian Sao Paulo LPG Transport LLC	VLGC	Continental	2015	84,000
Dorian Ulsan LPG Transport LLC	VLGC	Constitution	2015	84,000
Dorian Amsterdam LPG Transport LLC	VLGC	Commodore	2015	84,000
Dorian Dubai LPG Transport LLC	VLGC	Cresques⁽²⁾	2015	84,000
Constellation LPG Transport LLC	VLGC	Constellation	2015	84,000
Dorian Monaco LPG Transport LLC	VLGC	Cheyenne	2015	84,000
Dorian Barcelona LPG Transport LLC	VLGC	Clermont	2015	84,000
Dorian Geneva LPG Transport LLC	VLGC	Cratis⁽²⁾	2015	84,000
Dorian Cape Town LPG Transport LLC	VLGC	Chaparral⁽²⁾	2015	84,000
Dorian Tokyo LPG Transport LLC	VLGC	Copernicus⁽²⁾	2015	84,000
Commander LPG Transport LLC	VLGC	Commander	2015	84,000
Dorian Explorer LPG Transport LLC	VLGC	Challenger	2015	84,000
Dorian Exporter LPG Transport LLC	VLGC	Caravelle⁽²⁾	2016	84,000
Dorian Sakura LPG Transport LLC	VLGC	Captain Markos⁽²⁾	2023	84,000
Dorian LPG Ammonia Transport LLC	VLGC/AC	Hull No. 2373	2026⁽³⁾	93,000

Management and Other Subsidiaries



Subsidiary
Dorian LPG Management Corp.
Dorian LPG (USA) LLC (incorporated in USA)
Dorian LPG (UK) Ltd. (incorporated in UK)
Dorian LPG Finance LLC
Occident River Trading Limited (incorporated in UK)
Dorian LPG (DK) ApS (incorporated in Denmark)
Dorian LPG Chartering LLC
Dorian LPG FFAS LLC
Dorian LPG US Lease Finance LLC
Dorian LPG Nippon Lease LLC

(1)	CBM: Cubic meters, a standard measure for LPG tanker capacity

(2)	Operated pursuant to a bareboat charter agreement as of June 30, 2025. Refer to Note 8 below for further information.

(3)	The vessel is expected to be delivered in calendar year 2026.

Significant Accounting Policies

3 Months Ended

Jun. 30, 2025

Significant Accounting Policies:

Significant Accounting Policies

2. Significant Accounting Policies

The same accounting policies have been followed in these unaudited interim condensed consolidated financial statements as those applied in the preparation of our consolidated audited financial statements for the year ended March 31, 2025 (refer to Note 2 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025).

Recently Issued Accounting Pronouncements Not Yet Adopted:

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements with the objective to address longstanding requests from investors to provide more detailed information about expenses presented on the face of the income statement. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and

interim periods within the fiscal years beginning after December 15, 2027 with early adoption permitted. The amendments are to be applied either prospectively to financial statements issued for the reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. We are currently evaluating the impact of the adoption of ASU 2024-03 on our consolidated financial statements and related disclosures.

We have considered all other recent accounting pronouncements issued and believe that none will have a material effect on our financial statements.

Segment Reporting

3 Months Ended

Jun. 30, 2025

Segment Reporting

Segment Reporting

3. Segment Reporting

Our Company operates in the international transportation of liquid petroleum gas with its fleet of vessels, each of which has the same type of customer, similar operations and maintenance requirements, operates in the same regulatory environment, and are subject to similar economic characteristics. Based on this, we have determined that our Company operates in one reportable segment.

The Company’s Chief Executive Officer is the chief operating decision maker (“CODM”) and evaluates performance based on net income and operating income.

The following is a summary of information for our single reportable segment:


	Three months ended
(in U.S. dollars)	June 30, 2025		June 30, 2024

Total Revenues	$	84,211,966	$	114,353,042

Less:
Voyage expenses		1,342,756		804,985
Charter hire expenses		10,721,911		10,645,140
Vessel operating expenses		21,911,606		20,480,279
Other segment items ⁽¹⁾		34,643,884		26,949,113
Operating income		15,591,809		55,473,525
Nonoperating loss⁽²⁾		(5,509,708)		(4,185,385)
Net income	$	10,082,101	$	51,288,140

(1)

Other segment items include depreciation and amortization, general and administrative expenses, and other operating income and expenses.

(2)

Nonoperating loss includes interest and finance costs, interest income, gains and losses on derivatives, and other gains and losses.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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-Paragraph 41
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-41

Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 21
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-21

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 32
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-32

+ Details

Transactions with Related Parties

3 Months Ended

Jun. 30, 2025

Transactions with Related Parties:

Transactions with Related Parties

4. Transactions with Related Parties

Dorian (Hellas), S.A.

Dorian (Hellas) S.A. (“DHSA”) formerly provided technical, crew, commercial management, insurance and accounting services to our vessels and had agreements to outsource certain of these services to Eagle Ocean Transport Inc. (“Eagle Ocean Transport”), which is 100% owned by Mr. John C. Hadjipateras, our Chairman, President and Chief Executive Officer.

Dorian LPG (USA) LLC and its subsidiaries entered into an agreement with DHSA, retroactive to July 2014 and superseding an agreement between Dorian LPG (UK) Ltd. and DHSA, for the provision by Dorian LPG (USA) LLC and its subsidiaries of certain chartering and marine operation services to DHSA, for which income was earned and included in “Other income-related parties” totaling less than $0.1 million for both the three months ended June 30, 2025 and 2024.

As of June 30, 2025 less than $0.1 million was due from DHSA and included in “Due from releated parties” in the unaudited interim consolidated balance sheet. As of March 31, 2025, there was nothing due from DHSA.

Helios LPG Pool LLC

On April 1, 2015, Dorian and MOL Energia began operations of the Helios Pool, which entered into pool participation agreements for the purpose of establishing and operating, as charterer, under variable rate time charters to be entered into with owners or disponent owners of VLGCs, a commercial pool of VLGCs whereby revenues and expenses are shared. We hold a 50% interest in the Helios Pool as a joint venture with MOL Energia and all significant rights and obligations are equally shared by both parties. All profits of the Helios Pool are distributed to the pool participants based on pool points (see below for description of pool points) assigned to each vessel as variable charter hire and, as a result, there are no profits available to the equity investors as a share of equity. We have determined that the Helios Pool is a variable interest entity as it does not have sufficient equity at risk. We do not consolidate the Helios Pool because we are not the primary beneficiary and do not have a controlling financial interest. In consideration of Accounting Standards Codification (“ASC”) 810-10-50-4e, the significant factors considered and judgments made in determining that the power to direct the activities of the Helios Pool that most significantly impact the entity’s economic performance are shared, in that all significant performance activities which relate to approval of pool policies and strategies related to pool customers and the marketing of the pool for the procurement of customers for the pool vessels, addition of new pool vessels and the pool cost management, require unanimous board consent from a board consisting of two members from each joint venture investor. Further, in accordance with the guidance in ASC 810-10-25-38D, the Company and MOL Energia are not related parties as defined in ASC 850 nor are they de facto agents pursuant to ASC 810-10, the power over the significant activities of the Helios Pool is shared, and no party is the primary beneficiary in the Helios Pool, or has a controlling financial interest. As of June 30, 2025, the Helios Pool operated twenty-nine VLGCs, including twenty-six vessels from our fleet (including five vessels time chartered-in from unrelated parties) and three MOL Energia vessels.

As of June 30, 2025, we had net receivables from the Helios Pool of $100.9 million (net of amounts due to Helios Pool less than $0.3 million which are reflected under “Due to related Parties”), including $26.4 million of working capital contributed for the operation of our vessels in the pool. As of March 31, 2025, we had net receivables from the Helios Pool of $74.4 million (net of an amount due to Helios Pool of $0.1 million which are reflected under “Due to related Parties”), including $26.4 million of working capital contributed for the operation of our vessels in the pool. Our maximum exposure to losses from the pool as of June 30, 2025 is limited to the receivables from the pool. The Helios Pool does not have any third-party debt obligations. The Helios Pool has entered into commercial management agreements with each of Dorian LPG (DK) ApS and MOL Energia and has appointed both as the exclusive commercial managers of pool vessels. Fees for such services earned by Dorian LPG (DK) ApS are included in “Other income-related parties” in the unaudited interim condensed consolidated statement of operations and were $0.6 million for both the three months ended June 30, 2025, and 2024, respectively. Additionally, we receive reimbursement of expenses such as costs for security guards, war risk insurance, and certain other voyage costs for vessels operating in the Helios Pool, for which we earned $0.4 million and $0.8 million for the three months ended June 30, 2025, and 2024, respectively, and are included in “Other revenues, net” in the unaudited interim condensed consolidated statements of operations.

Through our vessel owning subsidiaries, we have chartered vessels to the Helios Pool during the three months ended June 30, 2025 and 2024. The time charter revenue from the Helios Pool is variable depending upon the net results of the pool, available days and pool points for each vessel. The Helios Pool enters into voyage and time charters with external parties and receives freight and related revenue and, where applicable, incurs voyage costs such as bunkers, port costs and commissions. At the end of each month, the Helios Pool calculates net pool revenues using gross revenues, less voyage expenses of all pool vessels, less fixed time charter hire for any chartered-in vessels, less the general and administrative expenses of the pool as variable rate time charter hire for the relevant vessel to participants based on pool points (vessel attributes such as cargo carrying capacity, scrubber-equipped, fuel efficiency, fuel-type consumed, and speed are taken into consideration) and number of days the vessel participated in the pool in the period. In accordance with the pool participation agreements, pool points are finalized in arrears every six months ending September 30 and March 31 and pool profits are reallocated based on the actual recorded speed and consumption performance for each vessel operating in the Helios Pool during the preceding six-month period. Net pool revenues, less any amounts required for working capital of the Helios Pool, are distributed, to the extent they have been collected from third-party customers of the Helios Pool. We recognize net pool revenues on a monthly basis, when each relevant vessel has participated in the pool during the period and the amount of net pool revenues for the month can be estimated reliably. Revenue earned from the Helios Pool is presented in Note 13.

- Definition

The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-5

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480990/946-20-50-6

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477968/946-235-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (d)
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-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
-SubTopic 220
-Name Accounting Standards Codification
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-Paragraph 1
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.6-07(2)(e))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479134/946-220-S99-1

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/850/tableOfContent

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-6

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 850
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483326/850-10-50-1

+ Details

Vessels, Net

3 Months Ended

Jun. 30, 2025

Vessels, Net:

Vessels, Net

5. Vessels, Net


			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2025	$	1,738,676,244	$	(588,869,462)	$	1,149,806,782
Other additions		674,691		—		674,691
Depreciation		—		(16,081,346)		(16,081,346)
Balance, June 30, 2025	$	1,739,350,935	$	(604,950,808)	$	1,134,400,127

Additions to vessels, net, mainly consisted of scrubber purchases and installation costs and other capital improvements for certain of our VLGCs during the three months ended June 30, 2025. Our vessels, with a total carrying value of $1,105.4 million and $1,120.0 million as of June 30, 2025 and March 31, 2025, respectively, are first-priority mortgaged as collateral for our long-term debt (refer to Note 8 below). Captain John NP is our only VLGC that is not first-priority mortgaged as collateral for our long-term debt as of June 30, 2025 and March 31, 2025. As of June 30, 2025, we obtained independent appraisals of the technically managed VLGCs in our fleet and concluded that there were no indicators of impairment in accordance with ASC 360 Property, Plant, and Equipment. No impairment charges were recognized for the three months ended June 30, 2025 and 2024.

Vessel Under Construction

3 Months Ended

Jun. 30, 2025

Vessel Under Construction:

Vessel Under Construction

6. Vessel Under Construction

On November 24, 2023 we entered into an agreement for a newbuilding VLGC/AC with a cargo carrying capacity of 93,000 cbm that can transport LPG or ammonia, which is expected to be delivered from Hanwha Ocean Co. Ltd. in the second calendar quarter of 2026. The analysis and movement of vessel under construction is presented in the table below.


	Net book Value
Balance, April 1, 2025	$	37,274,863
Other capitalized expenditures		1,498,739
Capitalized interest		501,220
Balance, June 30, 2025	$	39,274,822

Deferred Charges, Net

3 Months Ended

Jun. 30, 2025

Deferred Charges, Net:

Deferred Charges, Net

7. Deferred Charges, Net

The analysis and movement of deferred charges is presented in the table below:


	Drydocking
	costs
Balance, April 1, 2025	$	17,237,662
Additions		6,453,129
Amortization		(2,297,801)
Balance, June 30, 2025	$	21,392,990

Long-term Debt

3 Months Ended

Jun. 30, 2025

Long-term Debt:

Long-term Debt

8. Long-term Debt

2023 A&R Debt Facility

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the $240.0 million amended and restated debt financing facility that we entered into on December 22, 2023 with Crédit Agricole Corporate and Investment Bank (“CACIB”), ING Bank N.V. (“ING”), Skandinaviska Enskilda Banken AB (publ) (“SEB”), BNP Paribas (“BNP”), and Danish Ship Finance A/S (“DSF”) (the “2023 A&R Debt Facility”).

We were in compliance with all financial covenants as of June 30, 2025.

BALCAP Facility

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on our $83.4 million debt financing facility that we entered into on December, 29 2021 with Banc of America Leasing & Capital, LLC and other financial institutions (the “BALCAP Facility”).

We were in compliance with all financial covenants as of June 30, 2025.

Corsair Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2014-built VLGC, Corsair, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Corsair Japanese Financing”).

Cresques Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2015-built VLGC, Cresques, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Cresques Japanese Financing”).

Cratis Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2015-built VLGC, Cratis, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Cratis Japanese Financing”).

Copernicus Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2015-built VLGC, Copernicus, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Copernicus Japanese Financing”).

Chaparral Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2015-built VLGC, Chaparral, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Chaparral Japanese Financing”).

Caravelle Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2016-built VLGC, Caravelle, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Caravelle Japanese Financing”).

Cougar Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the refinancing of our 2016-built VLGC, Cougar, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Cougar Japanese Financing”).

Captain Markos Dual-Fuel Japanese Financing

Refer to Note 10 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025 for information on the financing of our 2023-built Dual-fuel VLGC, Captain Markos, pursuant to a memorandum of agreement and a bareboat charter agreement (the “Captain Markos Japanese Financing”).

Debt Obligations

The table below presents our debt obligations:


	June 30, 2025		March 31, 2025
2023 A&R Debt Facility	$	180,000,000	$	185,000,000

Japanese Financings
Corsair Japanese Financing	$	27,083,334	$	27,895,834
Cresques Japanese Financing		23,398,212		23,840,367
Cratis Japanese Financing		36,400,000		37,420,000
Copernicus Japanese Financing		36,400,000		37,420,000
Chaparral Japanese Financing		56,649,260		57,316,129
Caravelle Japanese Financing		38,000,000		39,200,000
Cougar Japanese Financing		39,200,000		40,100,000
Captain Markos Dual-Fuel Japanese Financing		50,120,000		50,960,000
Total Japanese Financings	$	307,250,806	$	314,152,330

BALCAP Facility	$	56,202,020	$	58,266,112

Total debt obligations	$	543,452,826	$	557,418,442
Less: deferred financing fees		3,844,446		4,139,695
Debt obligations—net of deferred financing fees	$	539,608,380	$	553,278,747

Presented as follows:
Current portion of long-term debt	$	54,110,683	$	54,504,778
Long-term debt—net of current portion and deferred financing fees		485,497,697		498,773,969
Total	$	539,608,380	$	553,278,747

Deferred Financing Fees

The analysis and movement of deferred financing fees is presented in the table below:


	Financing
	costs
Balance, Apri 1, 2025	$	4,139,695
Amortization		(295,249)
Balance, June 30, 2025	$	3,844,446

Leases

3 Months Ended

Jun. 30, 2025

Leases:

Leases

9. Leases

Time charter-in contracts

During the three months ended June 30, 2025, we time chartered-in a VLGC that was delivered to us in June 2025 with a duration of 12 months with no option periods. Therefore, this operating lease was excluded from operating lease right-of-use asset and lease liability recognition on our consolidated balance sheets. As of June 30, 2025, right-of-use assets and lease liabilities related to all of our time charter-in VLGCs totaled $150.8 million and were recognized on our balance sheet. Our time chartered-in VLGCs were deployed in the Helios Pool and earned net pool revenues of $14.8 million and $17.7 million for the three months ended June 30, 2025 and 2024, respectively.

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


	Three months ended
	June 30, 2025		June 30, 2024
Charter hire expenses	$	10,721,911	$	10,645,140

Office leases

We currently have operating leases for our offices in Stamford, Connecticut, USA; Copenhagen, Denmark; and Athens, Greece, which we determined to be operating leases and record the lease expense as part of general and administrative expenses in our unaudited interim condensed consolidated statements of operations. We did not enter into any new office leases and did not renew any office leases during the three months ended June 30, 2025.

Operating lease rent expense related to our office leases was as follows:


	Three months ended
	June 30, 2025		June 30, 2024
Operating lease rent expense	$	126,942	$	131,537

For our office leases and time charter-in agreements included in the balance sheets, the discount rate used ranged from 5.54% to 6.34%. The weighted average discount rate used to calculate the lease liability was 5.80%. The weighted average remaining lease term of our office leases and time chartered-in vessel as of June 30, 2025 is 53.8 months.

Our operating lease right-of-use asset and lease liabilities as of June 30, 2025 and March 31, 2025 were as follows:


Description	Location on Balance Sheet	June 30, 2025		March 31, 2025
Assets:
Non-current
Office leases	Operating lease right-of-use assets	$	687,053	$	749,451
Time charter-in VLGCs	Operating lease right-of-use assets	$	150,067,196	$	158,462,559

Liabilities:
Current
Office Leases	Current portion of long-term operating leases	$	405,290	$	380,127
Time charter-in VLGCs	Current portion of long-term operating leases	$	34,992,587	$	34,428,076

Long-term
Office Leases	Long-term operating leases	$	296,650	$	385,062
Time charter-in VLGCs	Long-term operating leases	$	115,074,609	$	124,034,483

Maturities of operating lease liabilities as of June 30, 2025 were as follows:


Less than one year	$	43,051,396
One to three years		70,634,451
Three to five years		56,953,139
More than five years		241,250
Total undiscounted lease payments		170,880,236
Less: imputed interest		(20,111,100)
Carrying value of operating lease liabilities	$	150,769,136

Common Stock

3 Months Ended

Jun. 30, 2025

Common Stock

Common Stock

10. Common Stock

On June 7, 2024, we issued 2 million shares to the public at a price of $44.50 per share with proceeds totaling $89.0 million, less (i) $2.225 per share, or $4.5 million, of underwriting discounts and commissions, and (ii) $0.1 million of legal and other offering costs included in liabilities as of June 30, 2024.

On February 2, 2022, our Board of Directors authorized the repurchase of up to $100.0 million of our common shares (the “2022 Common Share Repurchase Authority”). Under this authorization, when in force, purchases were and may be made at our discretion in the form of open market repurchase programs, privately negotiated transactions, accelerated share repurchase programs or a combination of these methods. The actual amount and timing of share repurchases are subject to capital availability, our determination that share repurchases are in the best interests of our shareholders, and market conditions. As of June 30, 2025, our total purchases under the 2022 Common Share Repurchase Authority totaled 261,500 shares for an aggregate consideration of $5.6 million. This includes 100,000 shares repurchased for $1.8 million during the three months ended June 30, 2025. We are not obligated to make any common share repurchases.

- Definition

The entire disclosure for equity.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-13

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 505
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481112/505-10-50-14

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 946
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-Paragraph 2
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-Paragraph 18
-Subparagraph (a)
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481112/505-10-50-18

+ Details

Dividends

3 Months Ended

Jun. 30, 2025

Dividends [Abstract]

Dividends

11. Dividends

On May 2, 2025, we announced that our Board of Directors declared an irregular cash dividend of $0.50 per share of our common stock to all shareholders of record as of the close of business on May 16, 2025, totaling $21.3 million. We paid $21.2 million on May 29, 2025, with the remaining $0.1 million deferred until certain shares of restricted stock vest.

This was an irregular dividend. All declarations of dividends are subject to the determination and discretion of our Board of Directors based on its consideration of various factors, including our results of operations, financial condition, level of indebtedness, anticipated capital requirements, contractual restrictions, restrictions in our debt agreements, restrictions under applicable law, our business prospects and other factors that our Board of Directors may deem relevant.

Stock-Based Compensation Plans

3 Months Ended

Jun. 30, 2025

Stock-Based Compensation Plans:

Stock-Based Compensation Plans

12. Stock-Based Compensation Plans

Our stock-based compensation expense is included within general and administrative expenses in the unaudited condensed consolidated statements of operations and was $1.8 million and $1.3 million for the three months ended June 30, 2025 and 2024, respectively. Unrecognized compensation cost was $4.1 million as of June 30, 2025 and will be recognized over a remaining weighted average life of 1.04 years. For more information on our equity incentive plan, refer to Note 14 to our consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025.

A summary of the activity of restricted shares and units awarded under our equity incentive plan as of June 30, 2025 and changes during the three months ended June 30, 2025, is as follows:


		Weighted-Average
		Grant-Date
Incentive Share/Unit Awards	Number of Shares/Units	Fair Value
Unvested as of April 1, 2025	272,996	$	36.06
Unvested as of June 30, 2025	272,996	$	36.06

No restricted shares vested during the three months ended June 30, 2025.

Revenues

3 Months Ended

Jun. 30, 2025

Revenues [Abstract]

Revenues

13. Revenues

Revenues comprise the following:


	Three months ended
	June 30, 2025		June 30, 2024
Net pool revenues—related party	$	83,842,752	$	109,407,054
Time charter revenues		—		3,414,351
Other revenues, net		369,214		1,531,637
Total revenues	$	84,211,966	$	114,353,042

Net pool revenues—related party depend upon the net results of the Helios Pool, and the available days and pool points for each vessel. Refer to Note 2 to the consolidated financial statements included in our Annual Report on Form 10-K for the year ended March 31, 2025.

Other revenues, net mainly represent claim reimbursements and income from charterers relating to reimbursement of voyage expenses, such as costs for war risk insurance and security guards.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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-Section 50
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+ Details

Financial Instruments and Fair Value Disclosures

3 Months Ended

Jun. 30, 2025

Financial Instruments and Fair Value Disclosures:

Financial Instruments and Fair Value Disclosures

14. Financial Instruments and Fair Value Disclosures

Our principal financial assets consist of cash and cash equivalents, investment securities, amounts due from related parties, derivative instruments, and trade accounts receivable. Our principal financial liabilities consist of long-term debt, accounts payable, amounts due to related parties, and accrued liabilities.

(a)

Concentration of credit risk: Financial instruments, which may subject us to significant concentrations of credit risk, consist principally of amounts due from our charterers, including the receivables from Helios Pool, and cash and cash equivalents. We limit our credit risk with amounts due from our charterers, including those through the Helios Pool, by performing ongoing credit evaluations of our charterers’ financial condition and generally do not require collateral from our charterers. We limit our credit risk with our cash and cash equivalents and restricted cash by placing it with highly-rated financial institutions and directly or indirectly highly liquid, short term highly rated debt obligations.

(b)

Interest rate risk: Our 2023 A&R Debt Facility is based on SOFR and hence we are exposed to movements thereto. We entered into interest rate swap agreements, with one in effect as of June 30, 2025, in order to hedge a majority of our variable interest rate exposure related to this facility. The notional value of this interest rate swap over its remaining life decreases at a rate to maintain a constant 80% ratio between the debt outstanding under the 2023 A&R Debt Facility and the notional amount of the swap. This interest rate swap carries a fixed interest rate of 2.8525%. We have no exposure to floating rate movements on any of our other debt financings.

(c)

Fair value measurements: Interest rate swaps are stated at fair value, which is determined using a discounted cash flow approach based on market‑based SOFR swap yield rates. SOFR swap rates are observable at commonly quoted intervals for the full terms of the swaps and, therefore, are considered Level 2 items in accordance with the fair value hierarchy. The fair value of the interest rate swap agreements approximates the amount that we would have to pay or receive for the early termination of the agreements.

The following table summarizes the location on the balance sheet of the financial assets and liabilities that are carried at fair value on a recurring basis, which comprise our financial derivatives, all of which are considered Level 2 items in accordance with the fair value hierarchy as of:


		June 30, 2025				March 31, 2025
	Other non-current assets		Long-term liabilities		Other non-current assets		Long-term liabilities
Derivatives not designated as hedging instruments	Derivative instruments		Derivative instruments		Derivative instruments		Derivative instruments
Interest rate swap agreements	$	2,313,652	$	—	$	3,497,493	$	—

The effect of derivative instruments within the unaudited interim condensed consolidated statements of operations for the periods presented is as follows:


		Three months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	June 30, 2025		June 30, 2024
Interest rate swaps—change in fair value	Unrealized loss on derivatives	$	(1,183,841)	$	(421,627)
Interest rate swaps—realized gain	Realized gain on derivatives		539,429		1,717,249
(Loss)/Gain on derivatives, net		$	(644,412)	$	1,295,622

As of June 30, 2025 and March 31, 2025, no fair value measurements for assets or liabilities under Level 1 or Level 3 were recognized in the consolidated balance sheets with the exception of Level 1 items cash and cash equivalents, restricted cash, and investment securities. We did not have any other assets or liabilities measured at fair value on a non-recurring basis during the three months ended June 30, 2025 and 2024.

(d)

Book values and fair values of financial instruments: In addition to the derivatives that we are required to record at fair value on our balance sheet (see (c) above) we have investment securities that are recorded at fair value and included in other current assets in our balance sheet. We have other financial instruments that are carried at historical cost including trade accounts receivable, equity securities, at cost, amounts due from related parties, cash and cash equivalents, restricted cash, accounts payable, amounts due to related parties and accrued liabilities for which the historical carrying value approximates the fair value due to the short-term nature of these financial instruments.

The summary of gains and losses on our investment securities included in other gain, net as stated in our unaudited interim condensed consolidated statements of operations for the periods presented is as follows:


	Three months ended
	June 30, 2025		June 30, 2024
Unrealized gain on investment securities	$	3,034	$	312,794
Net gain on investment securities	$	3,034	$	312,794

We have long-term bank debt, the 2023 A&R Debt Facility, for which we believe the carrying value approximates fair value as the facility bears interest at variable interest rates based on SOFR at June 30, 2025 and 2024, which is observable at commonly quoted intervals for the full terms of the loans, and hence are considered as a Level 2 item in accordance with the fair value hierarchy. We have long-term debt related to the Corsair Japanese Financing, Cresques Japanese Financing, Cratis Japanese Financing, Copernicus Japanese Financing, Chaparral Japanese Financing, Cougar Japanese Financing, Caravelle Japanese Financing, and Captain Markos Dual-Fuel Japanese Financing, (collectively, the “Japanese Financings”) that incur interest at a fixed rate. We have long-term debt related to the BALCAP Facility that incurs interest at a fixed rate. The Japanese Financings and BALCAP Facility are considered Level 2 items in accordance with the fair value hierarchy and the fair value of each is based on a discounted cash flow analysis using current observable interest rates. The following table summarizes the carrying value and estimated fair value of our fixed rate debt obligations as of:


	June 30, 2025				March 31, 2025
	Carrying Value		Fair Value		Carrying Value		Fair Value
Corsair Japanese Financing	$	27,083,334	$	26,851,269	$	27,895,834	$	27,449,194
Cresques Japanese Financing		23,398,212		24,819,199		23,840,367		25,079,649
Cratis Japanese Financing		36,400,000		35,042,557		37,420,000		35,683,595
Copernicus Japanese Financing		36,400,000		35,042,557		37,420,000		35,683,595
Chaparral Japanese Financing		56,649,260		56,714,617		57,316,129		56,960,711
Caravelle Japanese Financing		38,000,000		36,558,882		39,200,000		37,313,039
Cougar Japanese Financing		39,200,000		40,695,894		40,100,000		41,274,707
Captain Markos Dual-Fuel Japanese Financing		50,120,000		53,685,210		50,960,000		54,060,280
BALCAP Facility		56,202,020		54,751,437		58,266,112		56,498,815

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Earnings Per Share ("EPS")

3 Months Ended

Jun. 30, 2025

Earnings Per Share ("EPS"):

Earnings Per Share ("EPS")

15. Earnings Per Share (“EPS”)

Basic EPS represents net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period. Our restricted stock shares include rights to receive dividends that are subject to the risk of forfeiture if service requirements are not satisfied, thus these shares are not considered participating securities and are excluded from the basic weighted-average shares outstanding calculation. Diluted EPS represent net income attributable to common shareholders divided by the weighted average number of common shares outstanding during the measurement period while also giving effect to all potentially dilutive common shares that were outstanding during the period.

The calculations of basic and diluted EPS for the periods presented are as follows:


	Three months ended
(In U.S. dollars except share data)	June 30, 2025		June 30, 2024
Numerator:
Net income	$	10,082,101	$	51,288,140
Denominator:
Basic weighted average number of common shares outstanding		42,427,473		40,905,196
Effect of dilutive restricted stock and restricted stock units		60,551		210,471
Diluted weighted average number of common shares outstanding		42,488,024		41,115,667
EPS:
Basic	$	0.24	$	1.25
Diluted	$	0.24	$	1.25

There were 186,733 shares of unvested restricted stock excluded from the calculation of diluted EPS because the effect of their inclusion would be anti-dilutive for the three months ended June 30, 2025 and no shares of unvested restricted stock were excluded from the calculation of diluted EPS for anti-dilution for the three months ended June 30, 2024.

Commitments and Contingencies

3 Months Ended

Jun. 30, 2025

Commitments and Contingencies:

Commitments and Contingencies

16. Commitments and Contingencies

Commitments under Newbuilding Contracts

On November 24, 2023, we entered into an agreement for a newbuilding VLGC/AC with a cargo carrying capacity of 93,000 cbm that can transport LPG or ammonia, which is expected to be delivered from Hanwha Ocean Co. Ltd. in the second calendar quarter of 2026. As of June 30, 2025, we had the following commitments related to the construction of the newbuilding:


	June 30, 2025
Less than one year	$	86,215,922

Commitments under Contracts for Scrubbers and Other Vessel Upgrades

We had contractual commitments for contracts to fabricate scrubbers to reduce sulfur emissions and other vessel upgrades as follows:


	June 30, 2025
Less than one year	$	761,492

Time Charter-in

During the three months ended June 30, 2025, we chartered-in a VLGC for one year that was delivered to us in June 2025. We had the following time charter-in commitments relating to VLGCs:


	June 30, 2025
Less than one year	$	13,982,856

Operating Leases

We had the following commitments as a lessee under operating leases relating to our Denmark
office:


	June 30, 2025
Less than one year	$	53,867

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 that is reasonably possible and should be disclosed or probable and for which a provision should be established in the unaudited interim condensed consolidated financial statements. Also, if applicable, we record undiscounted receivables for probable loss recoveries from insurance or other parties. We are not aware of any material claim that is reasonably possible and should be disclosed in the unaudited interim condensed consolidated financial statements.

Subsequent Events

3 Months Ended

Jun. 30, 2025

Subsequent Events:

Subsequent Events

17. Subsequent Event

Dividend

On August 1, 2025, we announced that our Board of Directors has declared an irregular cash dividend of $0.60 per share of the Company’s common stock totaling approximately $25.6 million. The dividend is payable on or about August 27, 2025 to all shareholders of record as of the close of business on August 12, 2025.

Pay vs Performance Disclosure - USD ($)	3 Months Ended
Pay vs Performance Disclosure - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Pay vs Performance Disclosure
Net Income (Loss)	$ 10,082,101	$ 51,288,140

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

+ References

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Significant Accounting Policies (Policies)

3 Months Ended

Jun. 30, 2025

Significant Accounting Policies:

SEC Climate-Related Disclosures

In November 2024, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) 2024-03, Disaggregation of Income Statement Expenses (“ASU 2024-03”), which requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements with the objective to address longstanding requests from investors to provide more detailed information about expenses presented on the face of the income statement. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026, and

interim periods within the fiscal years beginning after December 15, 2027 with early adoption permitted. The amendments are to be applied either prospectively to financial statements issued for the reporting periods after the effective date or retrospectively to any or all prior periods presented in the financial statements. We are currently evaluating the impact of the adoption of ASU 2024-03 on our consolidated financial statements and related disclosures.

We have considered all other recent accounting pronouncements issued and believe that none will have a material effect on our financial statements.

Basis of Presentation and General Information (Tables)

3 Months Ended

Jun. 30, 2025

Vessel Subsidiaries

Condensed Financial Statements [Line Items]

Schedule of Dorian LPG Ltd.'s wholly-owned subsidiaries


	Type of
Subsidiary	vessel	Vessel’s name	Built	CBM⁽¹⁾
CJNP LPG Transport LLC	VLGC	Captain John NP	2007	82,000
Comet LPG Transport LLC	VLGC	Comet	2014	84,000
Corsair LPG Transport LLC	VLGC	Corsair⁽²⁾	2014	84,000
Corvette LPG Transport LLC	VLGC	Corvette	2015	84,000
Dorian Shanghai LPG Transport LLC	VLGC	Cougar⁽²⁾	2015	84,000
Concorde LPG Transport LLC	VLGC	Concorde	2015	84,000
Dorian Houston LPG Transport LLC	VLGC	Cobra	2015	84,000
Dorian Sao Paulo LPG Transport LLC	VLGC	Continental	2015	84,000
Dorian Ulsan LPG Transport LLC	VLGC	Constitution	2015	84,000
Dorian Amsterdam LPG Transport LLC	VLGC	Commodore	2015	84,000
Dorian Dubai LPG Transport LLC	VLGC	Cresques⁽²⁾	2015	84,000
Constellation LPG Transport LLC	VLGC	Constellation	2015	84,000
Dorian Monaco LPG Transport LLC	VLGC	Cheyenne	2015	84,000
Dorian Barcelona LPG Transport LLC	VLGC	Clermont	2015	84,000
Dorian Geneva LPG Transport LLC	VLGC	Cratis⁽²⁾	2015	84,000
Dorian Cape Town LPG Transport LLC	VLGC	Chaparral⁽²⁾	2015	84,000
Dorian Tokyo LPG Transport LLC	VLGC	Copernicus⁽²⁾	2015	84,000
Commander LPG Transport LLC	VLGC	Commander	2015	84,000
Dorian Explorer LPG Transport LLC	VLGC	Challenger	2015	84,000
Dorian Exporter LPG Transport LLC	VLGC	Caravelle⁽²⁾	2016	84,000
Dorian Sakura LPG Transport LLC	VLGC	Captain Markos⁽²⁾	2023	84,000
Dorian LPG Ammonia Transport LLC	VLGC/AC	Hull No. 2373	2026⁽³⁾	93,000

Management and Other Subsidiaries

Condensed Financial Statements [Line Items]

Schedule of Dorian LPG Ltd.'s wholly-owned subsidiaries



Subsidiary
Dorian LPG Management Corp.
Dorian LPG (USA) LLC (incorporated in USA)
Dorian LPG (UK) Ltd. (incorporated in UK)
Dorian LPG Finance LLC
Occident River Trading Limited (incorporated in UK)
Dorian LPG (DK) ApS (incorporated in Denmark)
Dorian LPG Chartering LLC
Dorian LPG FFAS LLC
Dorian LPG US Lease Finance LLC
Dorian LPG Nippon Lease LLC

(1)	CBM: Cubic meters, a standard measure for LPG tanker capacity

(2)	Operated pursuant to a bareboat charter agreement as of June 30, 2025. Refer to Note 8 below for further information.

(3)	The vessel is expected to be delivered in calendar year 2026.

Segment Reporting (Tables)

3 Months Ended

Jun. 30, 2025

Segment Reporting

Schedule of reportable segment information


	Three months ended
(in U.S. dollars)	June 30, 2025		June 30, 2024

Total Revenues	$	84,211,966	$	114,353,042

Less:
Voyage expenses		1,342,756		804,985
Charter hire expenses		10,721,911		10,645,140
Vessel operating expenses		21,911,606		20,480,279
Other segment items ⁽¹⁾		34,643,884		26,949,113
Operating income		15,591,809		55,473,525
Nonoperating loss⁽²⁾		(5,509,708)		(4,185,385)
Net income	$	10,082,101	$	51,288,140

(1)

Other segment items include depreciation and amortization, general and administrative expenses, and other operating income and expenses.

(2)

Nonoperating loss includes interest and finance costs, interest income, gains and losses on derivatives, and other gains and losses.

Vessels, Net (Tables)

3 Months Ended

Jun. 30, 2025

Vessels, Net:

Schedule of vessels, net


			Accumulated
	Cost		depreciation		Net book Value
Balance, April 1, 2025	$	1,738,676,244	$	(588,869,462)	$	1,149,806,782
Other additions		674,691		—		674,691
Depreciation		—		(16,081,346)		(16,081,346)
Balance, June 30, 2025	$	1,739,350,935	$	(604,950,808)	$	1,134,400,127

Vessel Under Construction (Tables)

3 Months Ended

Jun. 30, 2025

Vessel Under Construction:

Schedule of vessel under construction


	Net book Value
Balance, April 1, 2025	$	37,274,863
Other capitalized expenditures		1,498,739
Capitalized interest		501,220
Balance, June 30, 2025	$	39,274,822

Deferred Charges, Net (Tables)

3 Months Ended

Jun. 30, 2025

Deferred Charges, Net:

Schedule of movements in, and analysis of, deferred charges during period


	Drydocking
	costs
Balance, April 1, 2025	$	17,237,662
Additions		6,453,129
Amortization		(2,297,801)
Balance, June 30, 2025	$	21,392,990

Long-term Debt (Tables)

3 Months Ended

Jun. 30, 2025

Long-term Debt:

Schedule of outstanding debt obligations


	June 30, 2025		March 31, 2025
2023 A&R Debt Facility	$	180,000,000	$	185,000,000

Japanese Financings
Corsair Japanese Financing	$	27,083,334	$	27,895,834
Cresques Japanese Financing		23,398,212		23,840,367
Cratis Japanese Financing		36,400,000		37,420,000
Copernicus Japanese Financing		36,400,000		37,420,000
Chaparral Japanese Financing		56,649,260		57,316,129
Caravelle Japanese Financing		38,000,000		39,200,000
Cougar Japanese Financing		39,200,000		40,100,000
Captain Markos Dual-Fuel Japanese Financing		50,120,000		50,960,000
Total Japanese Financings	$	307,250,806	$	314,152,330

BALCAP Facility	$	56,202,020	$	58,266,112

Total debt obligations	$	543,452,826	$	557,418,442
Less: deferred financing fees		3,844,446		4,139,695
Debt obligations—net of deferred financing fees	$	539,608,380	$	553,278,747

Presented as follows:
Current portion of long-term debt	$	54,110,683	$	54,504,778
Long-term debt—net of current portion and deferred financing fees		485,497,697		498,773,969
Total	$	539,608,380	$	553,278,747

Schedule of deferred financing fees


	Financing
	costs
Balance, Apri 1, 2025	$	4,139,695
Amortization		(295,249)
Balance, June 30, 2025	$	3,844,446

Leases (Tables)

3 Months Ended

Jun. 30, 2025

Leases:

Schedule of charter hire expenses for time chartered-in VLGCs


	Three months ended
	June 30, 2025		June 30, 2024
Charter hire expenses	$	10,721,911	$	10,645,140

Schedule of operating lease rent expense


	Three months ended
	June 30, 2025		June 30, 2024
Operating lease rent expense	$	126,942	$	131,537

Schedule of operating lease right-of-use assets and liabilities


Description	Location on Balance Sheet	June 30, 2025		March 31, 2025
Assets:
Non-current
Office leases	Operating lease right-of-use assets	$	687,053	$	749,451
Time charter-in VLGCs	Operating lease right-of-use assets	$	150,067,196	$	158,462,559

Liabilities:
Current
Office Leases	Current portion of long-term operating leases	$	405,290	$	380,127
Time charter-in VLGCs	Current portion of long-term operating leases	$	34,992,587	$	34,428,076

Long-term
Office Leases	Long-term operating leases	$	296,650	$	385,062
Time charter-in VLGCs	Long-term operating leases	$	115,074,609	$	124,034,483

Schedule of maturities of operating lease liabilities


Less than one year	$	43,051,396
One to three years		70,634,451
Three to five years		56,953,139
More than five years		241,250
Total undiscounted lease payments		170,880,236
Less: imputed interest		(20,111,100)
Carrying value of operating lease liabilities	$	150,769,136

Stock-Based Compensation Plans (Tables)

3 Months Ended

Jun. 30, 2025

Stock-Based Compensation Plans:

Summary of restricted share unit activity


		Weighted-Average
		Grant-Date
Incentive Share/Unit Awards	Number of Shares/Units	Fair Value
Unvested as of April 1, 2025	272,996	$	36.06
Unvested as of June 30, 2025	272,996	$	36.06

Revenues (Tables)

3 Months Ended

Jun. 30, 2025

Revenues [Abstract]

Summary of revenues


	Three months ended
	June 30, 2025		June 30, 2024
Net pool revenues—related party	$	83,842,752	$	109,407,054
Time charter revenues		—		3,414,351
Other revenues, net		369,214		1,531,637
Total revenues	$	84,211,966	$	114,353,042

Financial Instruments and Fair Value Disclosures (Tables)

3 Months Ended

Jun. 30, 2025

Financial Instruments and Fair Value Disclosures:

Schedule of derivative instruments location on the statement of financial position


		June 30, 2025				March 31, 2025
	Other non-current assets		Long-term liabilities		Other non-current assets		Long-term liabilities
Derivatives not designated as hedging instruments	Derivative instruments		Derivative instruments		Derivative instruments		Derivative instruments
Interest rate swap agreements	$	2,313,652	$	—	$	3,497,493	$	—


		Three months ended
Derivatives not designated as hedging instruments	Location of gain/(loss) recognized	June 30, 2025		June 30, 2024
Interest rate swaps—change in fair value	Unrealized loss on derivatives	$	(1,183,841)	$	(421,627)
Interest rate swaps—realized gain	Realized gain on derivatives		539,429		1,717,249
(Loss)/Gain on derivatives, net		$	(644,412)	$	1,295,622

Schedule of derivative instruments summary of gains and losses on investment securities


	Three months ended
	June 30, 2025		June 30, 2024
Unrealized gain on investment securities	$	3,034	$	312,794
Net gain on investment securities	$	3,034	$	312,794

Schedule of carrying values and estimated fair values of fixed rate debt obligations


	June 30, 2025				March 31, 2025
	Carrying Value		Fair Value		Carrying Value		Fair Value
Corsair Japanese Financing	$	27,083,334	$	26,851,269	$	27,895,834	$	27,449,194
Cresques Japanese Financing		23,398,212		24,819,199		23,840,367		25,079,649
Cratis Japanese Financing		36,400,000		35,042,557		37,420,000		35,683,595
Copernicus Japanese Financing		36,400,000		35,042,557		37,420,000		35,683,595
Chaparral Japanese Financing		56,649,260		56,714,617		57,316,129		56,960,711
Caravelle Japanese Financing		38,000,000		36,558,882		39,200,000		37,313,039
Cougar Japanese Financing		39,200,000		40,695,894		40,100,000		41,274,707
Captain Markos Dual-Fuel Japanese Financing		50,120,000		53,685,210		50,960,000		54,060,280
BALCAP Facility		56,202,020		54,751,437		58,266,112		56,498,815

Earnings Per Share ("EPS") (Tables)

3 Months Ended

Jun. 30, 2025

Earnings Per Share ("EPS"):

Summary of components used in calculating basic and diluted EPS


	Three months ended
(In U.S. dollars except share data)	June 30, 2025		June 30, 2024
Numerator:
Net income	$	10,082,101	$	51,288,140
Denominator:
Basic weighted average number of common shares outstanding		42,427,473		40,905,196
Effect of dilutive restricted stock and restricted stock units		60,551		210,471
Diluted weighted average number of common shares outstanding		42,488,024		41,115,667
EPS:
Basic	$	0.24	$	1.25
Diluted	$	0.24	$	1.25

Commitments and Contingencies (Tables)

3 Months Ended

Jun. 30, 2025

Commitments Under Newbuilding Contracts

Other Commitments [Line Items]

Schedule of commitments and contingencies by class


	June 30, 2025
Less than one year	$	86,215,922

Commitments Under Contracts for Scrubber Purchases and Other Vessel Upgrades

Other Commitments [Line Items]

Schedule of commitments and contingencies by class


	June 30, 2025
Less than one year	$	761,492

Fixed Time Charter Contracts

Other Commitments [Line Items]

Schedule of commitments and contingencies by class


	June 30, 2025
Less than one year	$	13,982,856

Operating Leases | Denmark Office

Other Commitments [Line Items]

Schedule of commitments and contingencies by class


	June 30, 2025
Less than one year	$	53,867

Basis of Presentation and General Information (Details)	3 Months Ended
Basis of Presentation and General Information (Details)	Jun. 30, 2025 item m³	Nov. 24, 2023 m³
Capacity of standard VLGC vessels (cubic meters)	80,000
Capacity of dual-fuel ECO VLGC vessels (cubic meters)	84,000
Capacity of fuel-efficient ECO VLGC vessels (cubic meters)	84,000
Capacity of modern VLGC vessels (cubic meters)	82,000
Represents the capacity of VLGC/AC in cubic meters		93,000
Total VLGC vessels in fleet	26
Dual-fuel ECO VLGCs in fleet	1
Fuel-efficient ECO VLGCs in fleet	19
Modern VLGCs in fleet	1
Time chartered-in dual-fuel VLGCs in fleet	4
Time chartered-in dual-fuel VLGCs in fleet (Panamax size)	3
Time chartered-in ECO VLGCs in fleet	1
ECO VLGCs in fleet (equipped with scrubbers) \| item	16
Time chartered-in ECO VLGCs in fleet (equipped with scrubbers) \| item	1
Additional VLGCs with purchase commitments for scrubbers	1
Vessel Under Construction
Represents the capacity of VLGC/AC in cubic meters		93,000

Basis of Presentation and General Information - Vessel Capacity (Details)	Jun. 30, 2025 m³
CJNP LPG Transport LLC (The Captain John NP) \| 2007
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	82,000
Comet LPG Transport LLC (The Comet) \| 2014
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Corsair LPG Transport LLC (The Corsair) \| 2014
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Corvette LPG Transport LLC (The Corvette) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Shanghai LPG Transport LLC (The Cougar) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Concorde LPG Transport LLC (The Concorde) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Houston LPG Transport LLC (The Cobra) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Sao Paulo LPG Transport LLC (The Continental) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Ulsan LPG Transport LLC (The Constitution) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Amsterdam LPG Transport LLC (The Commodore) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Dubai LPG Transport LLC (The Cresques) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Constellation LPG Transport LLC (The Constellation) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Monaco LPG Transport LLC (The Cheyenne) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Barcelona LPG Transport LLC (The Clermont) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Geneva LPG Transport LLC (The Cratis) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Cape Town LPG Transport LLC (The Chaparral) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Tokyo LPG Transport LLC (The Copernicus) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Commander LPG Transport LLC (The Commander) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Explorer LPG Transport LLC (The Challenger) \| 2015
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Exporter LPG Transport LLC (The Caravelle) \| 2016
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian Sakura LPG Transport LLC (The Captain Markos) \| 2023
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	84,000
Dorian LPG Ammonia Transport LLC (Hull No. 2373) \| 2026 (Under Construction)
Vessel Subsidiaries
Capacity of vessel (in cubic meters)	93,000

Segment Reporting - Single Reportable Segment Summary (Details) - USD ($)	3 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Segment Reporting
Total Revenues	$ 84,211,966	$ 114,353,042
Voyage expenses	1,342,756	804,985
Charter hire expenses	10,721,911	10,645,140
Vessel operating expenses	21,911,606	20,480,279
Other segment items (1)	34,643,884	26,949,113
Operating income	15,591,809	55,473,525
Nonoperating loss (2)	(5,509,708)	(4,185,385)
Net income	$ 10,082,101	$ 51,288,140

Transactions with Related Parties (Details) - USD ($)	3 Months Ended
Transactions with Related Parties (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024	Mar. 31, 2025	Apr. 01, 2015
John C. Hadjipateras, CEO \| Eagle Ocean Transport, Inc.
Related Party Transaction [Line Items]
Ownership interest (as a percent)	100.00%
Dorian (Hellas), S.A. \| Dorian LPG (USA) LLC and Subsidiaries
Related Party Transaction [Line Items]
Due from related parties			$ 0
Dorian (Hellas), S.A. \| Dorian LPG (USA) LLC and Subsidiaries \| Maximum
Related Party Transaction [Line Items]
Related party income - chartering and marine operation services	$ 100,000	$ 100,000
Due from related parties	100,000
Helios LPG Pool LLC \| MOL Energia
Related Party Transaction [Line Items]
Ownership interest (as a percent)				50.00%
Related party income - management services for pool vessels	600,000	600,000
Related party income - expense reimbursements	400,000	$ 800,000
Due from related parties	$ 100,900,000		$ 74,400,000

Transactions with Related Parties - Helios LPG Pool LLC (Details)		3 Months Ended
	Apr. 01, 2015 item	Jun. 30, 2025 USD ($) item	Mar. 31, 2025 USD ($)
Related Party Transaction [Line Items]
Due to related parties \| $		$ 277,543	$ 39,339
Helios LPG Pool LLC \| MOL Energia
Related Party Transaction [Line Items]
Ownership interest (as a percent)	50.00%
Board members from each joint venture needed to approve operational activities \| item	2
Total VLGC vessels operated by the Helios Pool \| item		29
Dorian LPG owned VLGC vessels operated by the Helios Pool \| item		26
MOL Energia owned VLGC vessels operated by the Helios Pool \| item		3
Vessels time chartered-in by DLPG from 3rd parties operated by Helios Pool		5
Due from related parties \| $		$ 100,900,000	74,400,000
Due to related parties \| $		300,000	100,000
Contributed working capital \| $		$ 26,400,000	$ 26,400,000

Vessels, Net (Details) - USD ($)	3 Months Ended
Vessels, Net (Details) - USD ($)	Jun. 30, 2025	Mar. 31, 2025
Property, Plant and Equipment [Line Items]
Net book value, beginning	$ 1,187,081,645
Net book value, ending	1,173,674,949
Vessels, net
Property, Plant and Equipment [Line Items]
Vessels at cost, beginning	1,738,676,244
Other additions	674,691
Vessels at cost, ending	1,739,350,935
Accumulated depreciation balance, beginning	(588,869,462)
Depreciation	(16,081,346)
Accumulated depreciation balance, ending	(604,950,808)
Net book value, beginning	1,149,806,782
Net book value, ending	1,134,400,127
Carrying value	$ 1,105,400,000	$ 1,120,000,000

Vessel Under Construction (Details)	3 Months Ended
Vessel Under Construction (Details)	Jun. 30, 2025 USD ($)	Nov. 24, 2023 m³
Total Fixed Assets
Represents the capacity of VLGC/AC in cubic meters \| m³		93,000
Vessel Under Construction
Total Fixed Assets
Represents the capacity of VLGC/AC in cubic meters \| m³		93,000
Balance, April 1st	$ 37,274,863
Other capitalized expenditures	1,498,739
Capitalized interest	501,220
Balance, June 30th	$ 39,274,822

Deferred Charges, Net (Details)	3 Months Ended
Deferred Charges, Net (Details)	Jun. 30, 2025 USD ($)
Balance, April 1st	$ 17,237,662
Balance, June 30th	21,392,990
Drydocking Costs
Balance, April 1st	17,237,662
Additions	6,453,129
Amortization	(2,297,801)
Balance, June 30th	$ 21,392,990

Long-term Debt (Details) - USD ($) $ in Millions	Dec. 22, 2023	Dec. 29, 2021
2023 A&R Debt Facility
Total Debt Obligations
Principal amount financed	$ 240.0
BALCAP Facility
Total Debt Obligations
Principal amount financed		$ 83.4

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 5: http://www.xbrl.org/2003/role/exampleRef
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Reference 6: http://www.xbrl.org/2003/role/exampleRef
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+ Details

Long-term Debt - Outstanding Debt Obligations (Details) - USD ($)	Jun. 30, 2025	Mar. 31, 2025
Total Debt Obligations
Total debt obligations	$ 543,452,826	$ 557,418,442
Less: deferred financing fees	3,844,446	4,139,695
Debt obligations-net of deferred financing fees	539,608,380	553,278,747
Presented as follows:
Current portion of long-term debt	54,110,683	54,504,778
Long-term debt-net of current portion and deferred financing fees	485,497,697	498,773,969
Total long-term debt	539,608,380	553,278,747
2023 A&R Debt Facility/2022 Debt Facility
Total Debt Obligations
Total debt obligations	180,000,000	185,000,000
Japanese Financings
Total Debt Obligations
Total debt obligations	307,250,806	314,152,330
Corsair Japanese Financing
Total Debt Obligations
Total debt obligations	27,083,334	27,895,834
Cresques Japanese Financing
Total Debt Obligations
Total debt obligations	23,398,212	23,840,367
Cratis Japanese Financing
Total Debt Obligations
Total debt obligations	36,400,000	37,420,000
Copernicus Japanese Financing
Total Debt Obligations
Total debt obligations	36,400,000	37,420,000
Chaparral Japanese Financing
Total Debt Obligations
Total debt obligations	56,649,260	57,316,129
Caravelle Japanese Financing
Total Debt Obligations
Total debt obligations	38,000,000	39,200,000
Cougar Japanese Financing
Total Debt Obligations
Total debt obligations	39,200,000	40,100,000
Captain Markos Dual-Fuel Japanese Financing
Total Debt Obligations
Total debt obligations	50,120,000	50,960,000
BALCAP Facility
Total Debt Obligations
Total debt obligations	$ 56,202,020	$ 58,266,112

Long-term Debt - Deferred Financing Fees (Details)	3 Months Ended
Long-term Debt - Deferred Financing Fees (Details)	Jun. 30, 2025 USD ($)
Long-term Debt:
Deferred financing costs, April 1st	$ 4,139,695
Amortization	(295,249)
Deferred financing costs, June 30th	$ 3,844,446

Leases - Time Charter-in Contracts (Details) - USD ($)	3 Months Ended
Leases - Time Charter-in Contracts (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024	Mar. 31, 2025
Lessee, Lease, Description [Line Items]
Operating lease right-of-use assets	$ 150,754,249		$ 159,212,010
Time Charter-in VLGCs
Lessee, Lease, Description [Line Items]
Charter hire expenses	10,721,911	$ 10,645,140
Operating lease right-of-use assets	150,067,196		$ 158,462,559
Helios LPG Pool LLC
Lessee, Lease, Description [Line Items]
Pool revenue - time chartered-in VLGCs	$ 14,800,000	$ 17,700,000

Leases - Office Leases (Details) - USD ($)	3 Months Ended
Leases - Office Leases (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Lessee, Lease, Description [Line Items]
Operating lease weighted average discount rate	5.80%
Operating lease weighted average remaining lease term	53 months 24 days
Minimum
Lessee, Lease, Description [Line Items]
Operating lease discount rate	5.54%
Maximum
Lessee, Lease, Description [Line Items]
Operating lease discount rate	6.34%
General and Administrative Expenses
Lessee, Lease, Description [Line Items]
Operating lease rent expense	$ 126,942	$ 131,537

Leases - Operating Lease Right-of-Use Asset and Lease Liabilities (Details) - USD ($)	Jun. 30, 2025	Mar. 31, 2025
Leases
Operating lease right-of-use assets	$ 150,754,249	$ 159,212,010
Current portion of long-term operating lease liabilities	35,397,877	34,808,203
Long-term operating lease liabilities	115,371,259	124,419,545
Office Leases
Leases
Operating lease right-of-use assets	687,053	749,451
Current portion of long-term operating lease liabilities	405,290	380,127
Long-term operating lease liabilities	296,650	385,062
Time Charter-in VLGCs
Leases
Operating lease right-of-use assets	150,067,196	158,462,559
Current portion of long-term operating lease liabilities	34,992,587	34,428,076
Long-term operating lease liabilities	$ 115,074,609	$ 124,034,483

Leases - Maturities of Operating Lease Liabilities (Details)	Jun. 30, 2025 USD ($)
Leases:
Less than one year	$ 43,051,396
One to three years	70,634,451
Three to five years	56,953,139
More than five years	241,250
Total undiscounted lease payments	170,880,236
Less: imputed interest	(20,111,100)
Carrying value of operating lease liabilities	$ 150,769,136

Common Stock (Details) - USD ($)		3 Months Ended	41 Months Ended
Common Stock (Details) - USD ($)	Jun. 07, 2024	Jun. 30, 2025	Jun. 30, 2025	Feb. 02, 2022
Aggregate consideration for common share repurchases		$ 1,822,780
Public Offering \| Common Stock
Shares issued in transaction	2,000,000
Share issuance price	$ 44.5
Proceeds from issuance of shares	$ 89,000,000
Legal and other offering costs included in liabilities	$ 100,000
Public Offering \| Common Stock \| Minimum
Issuance costs, per share issued	$ 2.225
Public Offering \| Common Stock \| Maximum
Issuance costs, flat fee	$ 4,500,000
2022 Common Share Repurchase Authority \| Common Stock
Common stock repurchase authorized amount				$ 100,000,000
Treasury stock shares acquired (in shares)		100,000	261,500
Aggregate consideration for common share repurchases		$ 1,800,000	$ 5,600,000

Dividends (Details) - USD ($)	3 Months Ended
Dividends (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Dividends Payable [Line Items]
Dividends, cash paid on payment date	$ 21,211,264	$ 40,362,938
Q1 2026 Cash Dividends
Dividends Payable [Line Items]
Dividends Payable, Date Declared	May 02, 2025
Dividends Payable, Date of Record	May 16, 2025
Dividends Payable, Date to be Paid	May 29, 2025
Dividends, amount declared per share	$ 0.5
Dividends, total cash amount	$ 21,300,000
Dividends, cash paid on payment date	21,200,000
Dividends, amount deferred on payment date	$ 100,000

Stock-Based Compensation Plans - Restricted Share Unit Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Unrecognized compensation cost	$ 4.1
Weighted average life over which unrecognized compensation is expected to be recognized	1 year 14 days
General and Administrative Expenses
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Stock-based compensation expense	$ 1.8	$ 1.3
Restricted Stock Units
Incentive Share/Unit Awards
Unvested as of April 1st	272,996
Vested	0
Unvested as of June 30th	272,996
Weighted-Average Grant-Date Fair Value
Unvested as of April 1st	$ 36.06
Unvested as of June 30th	$ 36.06

Revenues (Details) - USD ($)	3 Months Ended
Revenues (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Revenues [Abstract]
Net pool revenues - related party	$ 83,842,752	$ 109,407,054
Time charter revenues		3,414,351
Other revenues, net	369,214	1,531,637
Total revenues	$ 84,211,966	$ 114,353,042

- Definition

Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss).

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
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-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 19: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1B
-Subparagraph (SX 210.13-02(a)(5))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480097/470-10-S99-1B

Reference 20: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 30
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-30

Reference 21: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 42
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482810/280-10-50-42

Reference 22: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 23: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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Reference 24: http://www.xbrl.org/2003/role/disclosureRef
-Topic 280
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-Subparagraph (a)
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-URI https://asc.fasb.org/1943274/2147482810/280-10-50-22

Reference 25: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
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-Name Accounting Standards Codification
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-Publisher FASB
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Reference 26: http://www.xbrl.org/2003/role/disclosureRef
-Topic 220
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Subparagraph (SX 210.5-03(1))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147483621/220-10-S99-2

+ Details

Financial Instruments and Fair Value Disclosures - Fair Value Measurements (Details) - USD ($)	3 Months Ended
	Jun. 30, 2025	Jun. 30, 2024	Mar. 31, 2025
Derivative Instruments
Other non-current assets - Derivative Instruments	$ 2,313,652		$ 3,497,493
Unrealized loss on derivatives	(1,183,841)	$ (421,627)
Realized gain on derivatives	539,429	1,717,249
Interest Rate Swaps \| Level 2
Derivative Instruments
Other non-current assets - Derivative Instruments	2,313,652		$ 3,497,493
Unrealized loss on derivatives	(1,183,841)	(421,627)
Realized gain on derivatives	539,429	1,717,249
Gain/(loss) on derivatives, net	$ (644,412)	$ 1,295,622

- Definition

The net change in the difference between the fair value and the carrying value, or in the comparative fair values, of derivative instruments, including options, swaps, futures, and forward contracts, held at each balance sheet date, that was included in earnings for the period.

+ References + Details

Financial Instruments and Fair Value Disclosures - Financial Instruments (Details) - US Treasury Notes - Level 1 - USD ($)	3 Months Ended
	Jun. 30, 2025	Jun. 30, 2024
Securities, Available-for-Sale
Unrealized gain/(loss) on investment securities	$ 3,034	$ 312,794
Net gain/(loss) on investment securities	$ 3,034	$ 312,794

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
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-Subparagraph (aa)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-2

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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-Subparagraph (d)
-Publisher FASB
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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-Paragraph 3
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-Publisher FASB
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
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-Section 50
-Paragraph 3
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481800/320-10-50-3

+ Details

Financial Instruments and Fair Value Disclosures - Carrying Value and Fair Value of Long-term Debt (Details) - USD ($)	Jun. 30, 2025	Mar. 31, 2025
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	$ 543,452,826	$ 557,418,442
Japanese Financings
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	307,250,806	314,152,330
Corsair Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	27,083,334	27,895,834
Corsair Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	26,851,269	27,449,194
Cresques Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	23,398,212	23,840,367
Cresques Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	24,819,199	25,079,649
Cratis Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	36,400,000	37,420,000
Cratis Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	35,042,557	35,683,595
Copernicus Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	36,400,000	37,420,000
Copernicus Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	35,042,557	35,683,595
Chaparral Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	56,649,260	57,316,129
Chaparral Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	56,714,617	56,960,711
Caravelle Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	38,000,000	39,200,000
Caravelle Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	36,558,882	37,313,039
Cougar Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	39,200,000	40,100,000
Cougar Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	40,695,894	41,274,707
Captain Markos Dual-Fuel Japanese Financing
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	50,120,000	50,960,000
Captain Markos Dual-Fuel Japanese Financing \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	53,685,210	54,060,280
BALCAP Facility
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Carrying Value	56,202,020	58,266,112
BALCAP Facility \| Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis
Fair Value	$ 54,751,437	$ 56,498,815

Earnings Per Share ("EPS") (Details) - USD ($)	3 Months Ended
Earnings Per Share ("EPS") (Details) - USD ($)	Jun. 30, 2025	Jun. 30, 2024
Numerator:
Net income	$ 10,082,101	$ 51,288,140
Denominator:
Basic weighted average number of common shares outstanding	42,427,473	40,905,196
Effect of dilutive restricted stock and restricted stock units	60,551	210,471
Diluted weighted average number of common shares outstanding	42,488,024	41,115,667
EPS:
Basic	$ 0.24	$ 1.25
Diluted	$ 0.24	$ 1.25
Unvested Restricted Stock
EPS:
Number of shares excluded from the calculation of diluted EPS	186,733	0

Commitments and Contingencies (Details)	Jun. 30, 2025 USD ($)	Nov. 24, 2023 m³
Long-Term Purchase Commitment [Line Items]
Represents the capacity of VLGC/AC in cubic meters \| m³		93,000
Commitments Under Newbuilding Contracts
Less than one year	$ 86,215,922
Commitments Under Contracts for Scrubber Purchases and Other Vessel Upgrades
Less than one year	761,492
Fixed Time Charter Commitments
Less than one year	13,982,856
Operating Lease Commitments Abstract
Less than one year	$ 53,867
Vessel Under Construction
Long-Term Purchase Commitment [Line Items]
Represents the capacity of VLGC/AC in cubic meters \| m³		93,000

Subsequent Events (Details) - Subsequent Events - Q2 2026 Cash Dividends $ / shares in Units, $ in Millions	1 Months Ended
	Aug. 04, 2025 USD ($) $ / shares
Subsequent Event
Dividends Payable, Date Declared	Aug. 01, 2025
Dividends, amount declared per share \| $ / shares	$ 0.6
Dividends, total cash amount \| $	$ 25.6
Dividends Payable, Date to be Paid	Aug. 27, 2025
Dividends Payable, Date of Record	Aug. 12, 2025