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Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Revenues      
Voyage revenue $ 54,921,697 $ 64,129,511 $ 54,422,489
Related party revenue 240,000 240,000  
Commissions (including $612,998,$766,304 and $641,104, respectively, to related party) (2,673,703) (2,972,967) (1,944,473)
Net revenue 52,487,994 61,396,544 52,478,016
Operating expenses      
Voyage expenses 1,329,668 777,902 1,596,569
Vessel operating expenses (including $417,523, $392,731 and $347,840, respectively, to related party) 25,075,139 26,249,339 21,507,192
Dry-docking expenses 1,616,425 3,148,111 6,537,733
Vessel depreciation 17,385,608 18,348,556 17,979,750
Related party management fees 4,984,098 5,810,095 4,892,006
Other general and administrative expenses (including $1,165,000, $1,225,000 and $1,850,000, respectively, to related party) 3,661,426 2,986,507 3,026,941
Net loss on sale of vessels (including $43,823 to related party) 8,568,234    
Other income (254,604) (735,707) (2,352,946)
Total operating expenses 62,365,994 56,584,803 53,187,245
Operating (loss)/income (9,878,000) 4,811,741 (709,229)
Other income/(expenses)      
Interest and other financing costs (1,977,226) (2,191,235) (1,498,216)
Loss on derivatives, net (637,403) (1,498,122) (4,221,817)
Foreign exchange gain/(loss) 8,321 (17,122) (3,200)
(Loss)/gain on trading securities 20,373 (235,750) (173,375)
Interest income 484,886 248,892 538,820
Other expenses, net (2,101,049) (3,693,337) (5,357,788)
Equity loss in joint venture (1,219,692) (2,415) (538,833)
Net (loss)/income $ (13,198,741) $ 1,115,989 $ (6,605,850)
(Loss)/Earnings per share - basic (in Dollars per share) $ (0.34) $ 0.04 $ (0.21)
Weighted average number of shares outstanding during the year, basic (in Shares) 38,950,100 31,794,381 31,636,633
(Loss)/Earnings per share - diluted (in Dollars per share) $ (0.34) $ 0.04 $ (0.21)
Weighted average number of shares outstanding during the year, diluted (in Shares) 38,950,100 31,846,080 31,636,633