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Condensed Interim Consolidated Statements of Comprehensive Income - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2015
Sep. 30, 2014
Sep. 30, 2015
Sep. 30, 2014
REVENUE        
Revenue $ 47,182,310 $ 18,861,206 $ 116,110,860 $ 45,076,068
OPERATING EXPENSES        
Commissions and voyage related costs 7,959,724 3,070,280 22,626,960 3,615,964
Vessel operating expenses 11,932,106 7,924,360 32,410,042 20,430,678
Depreciation 6,629,516 4,081,901 17,252,021 10,505,031
Amortization of deferred dry dock expenditure 447,775 511,249 1,617,799 1,467,087
General and administrative expenses 2,792,312 2,091,411 7,635,934 6,288,234
Total operating expenses 29,761,433 17,679,201 81,542,756 42,306,994
Profit from operations 17,420,877 1,182,005 34,568,104 2,769,074
Interest expense and finance costs (3,806,461) (1,056,730) (7,945,689) (2,946,752)
Interest income 4,665 3,077 10,688 13,377
Profit / (loss) before taxes 13,619,081 128,352 26,633,103 (164,301)
Income tax (17,102) (11,054) (43,688) (37,108)
Net profit / (loss) $ 13,601,979 $ 117,298 $ 26,589,415 $ (201,409)
Earnings / (loss) per share, basic and diluted $ 0.522 $ 0.004 $ 1.022 $ (0.008)
Weighted average number of shares outstanding, basic and diluted 26,079,260 26,100,000 26,025,191 24,042,308