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Consolidated Statement of Cash Flows (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
OPERATING ACTIVITIES      
Net loss $ (3,842,603) $ (4,539,093) $ (2,975,270)
Non-cash items:      
Depreciation 8,388,208 6,195,416 5,343,091
Amortization of deferred drydock expenditure 1,420,814 441,491 0
Share based compensation 571,321 11,250 16,674
Amortization of deferred finance charges 772,787 254,547 290,391
Deferred tax -benefit) / expense 0 24,341 (16,099)
Changes in operating assets and liabilities:      
Receivables, trade 120,980 1,126,119 (1,629,497)
Working capital advances 1,039,384 2,098,612 (1,331,321)
Prepayments (248,092) 26,518 (214,710)
Advances and deposits (1,470,614) 145,540 (419,243)
Other receivables 176,449 (104,521) 155,121
Inventories (465,226) (44,449) (315,842)
Payables, trade 1,485,259 324,688 1,401,642
Charter revenue received in advance 955,555 411,705 (14,968)
Other payables 3,569 (70,993) (86,532)
Amounts due to related parties (600,000) 625,397 (25,397)
Accrued interest on loans 54,645 17,965 219,233
Deferred drydock expenditure (242,263) (2,959,280) 0
Net cash provided by operating activities 8,120,173 3,985,253 397,273
INVESTING ACTIVITIES      
Payments for acquisition of vessels and equipment (63,497,023) (1,330,198) (41,381,029)
Payments for vessels under construction (81,072,100) (13,560,194) (15,418,751)
Payments for other non-current assets (68,435) (51,122) (120,774)
Net cash used in investing activities (144,637,558) (14,941,514) (56,920,554)
FINANCING ACTIVITIES      
Short-term revolving credit facility 0 (30,265,000) 15,495,000
Proceeds from long-term debt 47,030,000 38,700,000 32,000,000
Repayments of long term debt (25,270,000) (37,200,000) (4,400,000)
Proceeds from capital leases 31,500,000 0 0
Repayments of capital leases (1,120,985) 0 0
Payments for deferred finance charges (1,333,312) (1,719,423) (1,255,205)
Net proceeds from equity offering 128,429,204 0 0
Payment of dividend (1,191,300) 0 0
Shareholder contributions 500 51,314,503 14,940,000
Net cash provided by financing activities 178,044,107 20,830,080 56,779,795
Net increase in cash and cash equivalents 41,526,722 9,873,819 256,514
Cash and cash equivalents at the beginning of the year 15,334,123 5,460,304 5,203,790
Cash and cash equivalents at the end of the year 56,860,845 15,334,123 5,460,304
Cash paid during the year for:      
Interest payments, net of capitalised interest 3,619,005 3,235,270 2,570,847
Taxation $ 33,963 $ 42,998 $ 12,063