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Note 17 - Investment in Joint Venture (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Equity Method Investments [Table Text Block]

	2010			2011			2012

Current assets		7,432,566			7,732,697			10,912,327
Long-term assets		167,386,946			217,878,004			242,007,329
Current liabilities		8,002,899			16,908,232			6,051,142
Long-term liabilities		65,834,481			107,737,239			127,316,330
Members’ contributions		105,750,000			105,750,000			132,000,000
Voyage revenue		4,479,908			29,233,585			27,428,223
Net revenue		4,367,197			28,107,669			26,216,805
Operating income / (loss)		(3,388,490	)		6,357,218			(2,018,854	)
Net loss		(4,017,868	)		(16,902	)		(8,413,047	)

- Definition

Tabular disclosure of equity method investments in common stock. The disclosure may include: (a) the name of each investee or group of investments for which combined disclosure is appropriate, (2) the percentage ownership of common stock, (3) the difference, if any, between the carrying amount of an investment and the value of the underlying equity in the net assets and the accounting treatment of difference, if any, and (4) the aggregate value of each identified investment based on its quoted market price, if available.

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