\n| \n \n(1)<\/p>\n<\/td>\n | \n \nTCE, adjusted net income, adjusted EPS and adjusted EBITDA are non-U.S. GAAP measures. Refer to the reconciliation of revenues to TCE, net income to adjusted net income, EPS to adjusted EPS and net income to adjusted EBITDA included in this press release under the heading \u201cFinancial Information.\u201d<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \nJohn C. Hadjipateras, Chairman, President and Chief Executive Officer of the Company, commented, \u201cAn increase in transportation demand because of geopolitical disruption contributed to our record financial results in the quarter ended June 30, 2026. The dislocations and uncertainty are continuing to result in high volatility and extraordinary freight rates in the current quarter. We declared our 19th consecutive quarterly irregular dividend, completed several sales, and placed an order with HD Hyundai for a dual-fuel 90,000 cbm ship for delivery in Q3 2029. We are fortunate that our seafarers are safe and grateful to them and our shore side groups for their contribution to this record quarter\u2019s results.\u201d<\/p>\n First Quarter Fiscal Year 2027 Results Summary<\/b><\/p>\n \nNet income amounted to $138.3 million, or $3.24 per diluted share, for the three months ended June 30, 2026, compared to $10.1 million, or $0.24 per diluted share, for the three months ended June 30, 2025.<\/p>\n \nAdjusted net income amounted to $107.2 million, or $2.52 per diluted share, for the three months ended June 30, 2026, compared to adjusted net income of $11.3 million, or $0.27 per diluted share, for the three months ended June 30, 2025. Adjusted net income for the three months ended June 30, 2026 is calculated by adjusting net income for the same period to exclude a gain on disposal on vessel of $30.1 million and an unrealized gain on derivative instruments of $0.9 million. Please refer to the reconciliation of net income to adjusted net income, which appears later in this press release.<\/p>\n \nThe $95.9 million increase in adjusted net income for the three months ended June 30, 2026, compared to the three months ended June 30, 2025, is primarily attributable to (i) increases of $103.7 million in revenues and $0.2 million in interest income; and (ii) decreases of $3.4 million in general and administrative expenses, $1.8 million in vessel operating expenses, $0.9 million in voyage expenses, $0.8 million in depreciation and amortization expenses; partially offset by increases of (i) $11.9 million in charter hire expenses, $1.7 million in profit sharing expenses, and $1.0 million in interest and finance costs; and (ii) a reduction of $0.3 million in realized gain on derivatives.<\/p>\n \nThe TCE rate per available day for our fleet was $75,926 for the three months ended June 30, 2026, a 91.1% increase from $39,726 for the same period in the prior year. Please see footnote 5 to the table in \u201cFinancial Information\u201d below for information related to how we calculate TCE.<\/p>\n \nVessel operating expenses per vessel per calendar day decreased to $10,356 for the three months ended June 30, 2026 compared to $11,466 in the same period in the prior year. Please see \u201cVessel Operating Expenses\u201d below for more information.<\/p>\n Revenues<\/i><\/b><\/p>\n \nRevenues, which represent net pool revenues\u2014related party and other revenues, net, were $187.9 million for the three months ended June 30, 2026, an increase of $103.7 million, or 123.1%, from $84.2 million for the three months ended June 30, 2025, primarily due to higher average TCE rates and increased available days. TCE rates rose by $36,200 per available day from $39,726 for the three months ended June 30, 2025 to $75,926 for the three months ended June 30, 2026, primarily due to higher spot rates; partially offset by higher bunker prices. The Baltic Exchange Liquid Petroleum Gas Index, an index published daily by the Baltic Exchange for the spot market rate for the benchmark Ras Tanura-Chiba route (expressed as U.S. dollars per metric ton), averaged $199.694 during the three months ended June 30, 2026 compared to an average of $63.500 during the three months ended June 30, 2025. The average price of very low sulfur fuel oil (expressed as U.S. dollars per metric ton) from Singapore and Fujairah increased from $511 during the three months ended June 30, 2025, to $863 during the three months ended June 30, 2026. Additionally, available days for our fleet increased from 2,086 for the three months ended June 30, 2025 to 2,469 for the three months ended June 30, 2026, mainly driven by an increase in the number of vessels in our fleet, and a decrease in the number of vessels drydocked.<\/p>\n Charter Hire Expenses<\/i><\/b><\/p>\n \nCharter hire expenses for the vessels chartered in from third parties were $22.6 million for the three months ended June 30, 2026 compared to $10.7 million for the three months ended June 30, 2025. The increase of $11.9 million, or 110.9%, was mainly driven by an increase in time chartered-in days from 370 for the three months ended June 30, 2025 to 546 for the three months ended June 30, 2026. Additionally, there was an increase in the average rate per time chartered-in day.<\/p>\n Vessel Operating Expenses<\/i><\/b><\/p>\n \nVessel operating expenses were $20.1 million during the three months ended June 30, 2026, or $10,356 per vessel per calendar day, which is calculated by dividing vessel operating expenses by calendar days for the relevant time period for the technically-managed vessels that were in our fleet, decreased by $1.8 million, or 8.1% from $21.9 million for the three months ended June 30, 2025. The decrease of $1,110 per vessel per calendar day, from $11,466 for the three months ended June 30, 2025 to $10,356 per vessel per calendar day for the three months ended June 30, 2026 was mainly a result of a decrease of $1,310 per vessel per calendar day of non-capitalizable drydock-related operating expenses. Excluding non-capitalizable drydock-related operating expenses, daily operating expenses increased by $200 from $10,108 for the three months ended June 30, 2025 to $10,308 for the three months ended June 30, 2026, mainly as a result of increases in spares and stores and repairs and maintenance costs.<\/p>\n General and Administrative Expenses<\/i><\/b><\/p>\n \nGeneral and administrative expenses were $13.5 million for the three months ended June 30, 2026, a decrease of $3.4 million, or 20.2%, from $16.9 million for the three months ended June 30, 2025. The decrease was primarily driven by a decrease of $4.3 million in cash bonuses as a result of the timing of the recognition of discretionary cash bonuses in the three months ended June 30, 2025 compared to the three months ended June 30, 2026, due to the implementation of the Annual Cash Incentive Plan (the \u201cACIP\u201d), which is recognized throughout the fiscal year. This was partially offset by increases of $0.4 million in employee-related costs and benefits, $0.3 million in stock-based compensation, and $0.2 million in other general and administrative expenses.<\/p>\n Gain on Disposal of Vessel<\/i><\/b><\/p>\n \nGain on disposal of vessel amounted to $30.1 million for the three months ended June 30, 2026 and was attributable to the sale of the 2015-built VLGC Cobra<\/i>. There was no gain on disposal of vessel for the three months ended June 30, 2025.<\/p>\n Interest and Finance Costs<\/i><\/b><\/p>\n \nInterest and finance costs amounted to $8.7 million for the three months ended June 30, 2026, an increase of $1.0 million, or 12.7%, from $7.7 million for the three months ended June 30, 2025. The increase of $1.0 million during this period was mainly due to (i) an increase of $0.7 million in loan expenses, (ii) a decrease of $0.5 million in capitalized interest, and (iii) an increase of $0.3 million in amortization of deferred financing fees, partially offset by (iv) a reduction of $0.5 million in interest on our long-term debt. The decrease in interest on our long-term debt was driven by a reduction in average indebtedness, excluding deferred financing fees, from $553.0 million for the three months ended June 30, 2025 to $537.9 million for the three months ended June 30, 2026.<\/p>\n Unrealized Gain \/ Loss on Derivatives<\/i><\/b><\/p>\n \nUnrealized gain on derivatives amounted to $0.9 million for the three months ended June 30, 2026, compared to a loss of $1.2 million for the three months ended June 30, 2025. The $2.1 million difference is primarily attributable to changes in forward SOFR yield curves and changes in notional amounts.<\/p>\n Fleet<\/b><\/p>\n \nThe following table sets forth certain information regarding our fleet as of July 30, 2026.<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Scrubber<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Time<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Capacity<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n ECO<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Equipped<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Charter-Out<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (Cbm)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Shipyard<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Year Built<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Vessel(1)<\/sup><\/b><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n and\/or Dual-Fuel<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Employment<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Expiration(2)<\/sup><\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Dorian VLGCs<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Captain John NP(3)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n82,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2007<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Comet(4)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ2 2027<\/p>\n<\/td>\n<\/tr>\n | \n| \n Corvette(4)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cougar(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ2 2029<\/p>\n<\/td>\n<\/tr>\n | \n| \n Concorde<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Continental<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ2 2030<\/p>\n<\/td>\n<\/tr>\n | \n| \n Constitution<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Commodore<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ2 2027<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cresques(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHanwha Ocean<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cheyenne<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Clermont<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cratis(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHanwha Ocean<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Chaparral(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ3 2027<\/p>\n<\/td>\n<\/tr>\n | \n| \n Copernicus(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHanwha Ocean<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Commander(4)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ1 2027<\/p>\n<\/td>\n<\/tr>\n | \n| \n Challenger<\/i><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2015<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool-TCO(7)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \nQ2 2030<\/p>\n<\/td>\n<\/tr>\n | \n| \n Caravelle(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2016<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Captain Markos(5)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nKawasaki<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nDF<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Areion(3)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n93,000<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHanwha Ocean<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2026<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS\/DF<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total<\/i><\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 1,603,000<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Time chartered-in VLGCs<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n Future Diamond(8)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n80,876<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2020<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nS<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n HLS Citrine(9)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n86,090<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nDF<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n HLS Diamond(9)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n86,090<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nDF<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Cristobal(10)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n86,980<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nHyundai<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2023<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nDF<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n Crystal Asteria(11)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n84,229<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nKawasaki<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2021<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nX<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nDF<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n BW Tokyo(12)<\/sup><\/i><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n83,271<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nMitsubishi<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2009<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \nPool(6)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\n| ______________________________<\/td>\n<\/tr>\n | \n| \n \n(1)<\/p>\n<\/td>\n | \n \nRepresents vessels with very low revolutions per minute, long-stroke, electronically controlled engines, larger propellers, advanced hull design, and low friction paint.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(2)<\/p>\n<\/td>\n | \n \nRepresents calendar year quarters.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(3)<\/p>\n<\/td>\n | \n \nVessel is capable of carrying ammonia cargo.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(4)<\/p>\n<\/td>\n | \n \nVessel is fitted to carry ammonia cargo.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(5)<\/p>\n<\/td>\n | \n \n\u00a0Operated pursuant to a bareboat chartering agreement. See Note 8 to our unaudited interim condensed consolidated financial statements.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(6)<\/p>\n<\/td>\n | \n \n\u201cPool\u201d indicates that the vessel operates in the Helios Pool on a voyage charter with a third party and we receive a portion of the pool profits calculated according to a formula based on the vessel\u2019s pro rata performance in the pool.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(7)<\/p>\n<\/td>\n | \n \n\u201cPool-TCO\u201d indicates that the vessel is operated in the Helios Pool on a time charter out to a third party and we receive a portion of the pool profits calculated according to a formula based on the vessel\u2019s pro rata performance in the pool.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(8)<\/p>\n<\/td>\n | \n \nVessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2027.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(9)<\/p>\n<\/td>\n | \n \nVessel has a Panamax beam and is currently time chartered-in to our fleet with an expiration during the first calendar quarter of 2030 and purchase options beginning in year seven.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(10)<\/p>\n<\/td>\n | \n \nVessel has a Panamax beam and shaft generator and is currently time chartered-in to our fleet with an expiration during the third calendar quarter of 2030 and purchase options beginning in year seven.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(11)<\/p>\n<\/td>\n | \n \nVessel is currently time chartered-in to our fleet with an expiration during the third calendar quarter of 2026.<\/p>\n<\/td>\n<\/tr>\n | \n| \n \n(12)<\/p>\n<\/td>\n | \n \nVessel is currently time chartered-in to our fleet with an expiration during the second calendar quarter of 2028. Vessel operates under a framework agreement in which the vessel\u2019s revenues and charter hire-in expenses are split equally with an unrelated third party.<\/p>\n<\/td>\n<\/tr>\n<\/table>\n Market Outlook & Update<\/b><\/p>\n \nGeopolitical developments dominated LPG markets throughout the second calendar quarter of 2026 (\u201cQ2 2026\u201d), driven by the Middle East conflict and effective closure of the Strait of Hormuz. This caused significant volatility in crude and refined products, with average monthly Brent prices rising to $133 per barrel in April from $68 per barrel at the start of the year. Despite higher crude prices, average LPG prices declined over the quarter, especially in the Far East, where monthly propane prices fell from $909 per metric ton in March to $657 per metric ton by quarter-end. Relative to crude, Far East propane weakened from 66% of Brent in the first calendar quarter of 2026 (\u201cQ1 2026\u201d) to 59% in Q2 2026.<\/p>\n \nIn the West, the propane market evolved differently, with the U.S. strengthening its position as the primary balancing supplier. Robust NGL production and new, flexible new export infrastructure following Enterprise’s Neches River Terminal start-up in April 2026, underscored this trend. Total U.S. LPG exports increased from approximately 18 million metric tons (\u201cMMT\u201d) in Q1 2026 to more than 21 MMT in Q2 2026, reaching a record 7.3 MMT in May. Export growth was supported by strong NGL production and inventories above the five-year average, adding pressure on U.S. LPG prices. Propane averaged 34% of WTI during Q2 2026, compared with 39% in Q1 2026 and 51% in Q2 2025. Butane also weakened from 51% of WTI in Q1 2026 to 47% in Q2 2026, but held up better due to demand for more evenly split cargoes, particularly from India after the loss of Middle Eastern supply.<\/p>\n \nIn Northwest Europe, propane and butane flat prices increased during Q2 2026 in line with higher crude oil prices. However, on a relative basis both products weakened against Brent. Propane declined from an average of 59% of Brent in Q1 2026 to 46% in Q2 2026, while butane fell from 65% to 62% over the same period.<\/p>\n \nPetrochemical economics improved markedly in Q2 2026, with margins returning to positive territory for both propane- and naphtha-based ethylene production in Northwest Europe, supporting some ethylene capacity restarts after maintenance outages in the Netherlands and Portugal. In the Far East, naphtha steam cracker margins remained negative, while propane-based production returned to profitability. Average propane steam cracker margins increased to approximately $244 per metric ton, compared with an average loss of $53 per metric ton in Q1 2026. Propane Dehydrogenation margins also recovered, averaging more than $120 per metric ton, supported by stronger propylene and polypropylene prices.<\/p>\n \nDespite improving petrochemical margins, Chinese LPG imports remained subdued at the start of the quarter as many market participants adopted a cautious wait-and-see approach amid continuing geopolitical uncertainty. Imports fell to just 1.6 MMT in April before recovering steadily to 2.3 MMT by the end of the quarter. Nevertheless, volumes remained below 2025 levels, with total Q2 2026 imports reaching 7.3 MMT compared with 9.3 MMT during the second calendar quarter of 2025. This also reflects the abrupt halt to regular exports from the Middle East in March for April discharge.<\/p>\n \nVLGC freight rates increased sharply in Q2 2026, with the Baltic Index averaging around $190 per metric ton, up from approximately $95 per metric ton in Q1 2026. The increase was driven primarily by geopolitical tensions in the Middle East, which tightened the effective supply-demand balance through vessel rerouting, fleet repositioning, reduced prompt availability, and longer voyage durations. Robust U.S.\u2013Asia export flows also increased ton-mile demand as U.S. cargoes replaced lost Middle East volumes. Freight markets were further supported by elevated war-risk insurance premiums, higher bunker prices, Panama Canal congestion and costs, and shipowner reluctance to re-enter the Arabian Gulf, creating operational inefficiencies and sustained pressure on rates.<\/p>\n \nDuring Q2 2026, the global VLGC fleet expanded moderately with the delivery of nine new vessels. Looking ahead, a further 155 VLGCs\/VLACs\u2014equivalent to approximately 13.9 million cbm of carrying capacity\u2014are scheduled for delivery through calendar year 2030, including 50 new orders placed during the second quarter. The average age of the global fleet now stands at approximately 11.9 years, while the combined VLGC\/VLAC orderbook has increased to around 35.7% of the existing fleet.<\/p>\n \nThe above market outlook update is based on information, data and estimates derived from industry sources available as of the date of this release, and there can be no assurances that such trends will continue or that anticipated developments in freight rates, export volumes, the VLGC orderbook or other market indicators will materialize. This information, data and estimates involve a number of assumptions and limitations, are subject to risks and uncertainties, and are subject to change based on various factors. You are cautioned not to give undue weight to such information, data and estimates. We have not independently verified any third-party information, verified that more recent information is not available and undertake no obligation to update this information unless legally obligated.<\/p>\n Financial Information<\/b><\/p>\n \nThe following table presents our selected financial data and other information for the periods presented:<\/p>\n \n\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n Three months ended<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n (in U.S. dollars, except fleet data)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n June 30, 2026<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n June 30, 2025<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Statement of Operations Data<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRevenues<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n187,884,848<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n84,211,966<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nExpenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nVoyage expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n422,621<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,342,756<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nCharter hire expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n22,614,002<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n10,721,911<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nProfit sharing expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n1,676,988<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nVessel operating expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n20,143,217<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n21,911,606<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nDepreciation and amortization<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n17,649,067<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n18,379,147<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nGeneral and administrative expenses<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n13,500,048<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n16,910,101<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total expenses<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 76,005,943<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 69,265,521<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nGain on disposal of vessel<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n30,116,869<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u2014<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther income\u2014related parties<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n669,079<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n645,364<\/p>\n<\/td>\n<\/tr>\n | \n| \n Operating income<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 142,664,853<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n 15,591,809<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nOther income\/(expenses)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest and finance costs<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(8,695,333)<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(7,714,797)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nInterest income<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,979,719<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n2,843,446<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nUnrealized gain\/(loss) on derivatives<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n932,965<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n(1,183,841)<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nRealized gain on derivatives<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n286,510<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n539,429<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nOther gain\/(loss), net<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n116,308<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n6,055<\/p>\n<\/td>\n<\/tr>\n | \n| \n Total other expenses, net<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (4,379,831)<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n (5,509,708)<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n Net income<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 138,285,022<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n $<\/b><\/p>\n<\/td>\n | \n 10,082,101<\/b><\/p>\n<\/td>\n<\/tr>\n\n| \n \nEarnings per common share\u2014basic<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n3.25<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n0.24<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nEarnings per common share\u2014diluted<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n3.24<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n0.24<\/p>\n<\/td>\n<\/tr>\n | \n| \n Financial Data<\/b><\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n<\/tr>\n | \n| \n \nAdjusted EBITDA(1)<\/sup><\/p>\n<\/td>\n| \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n165,430,566<\/p>\n<\/td>\n | \n \n\u00a0<\/p>\n<\/td>\n | \n \n$<\/p>\n<\/td>\n | \n \n38,578,336<\/p>\n<\/td>\n<\/tr>\n | \n| \n | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | |