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Note 5 - Vessels, Net (Tables)

12 Months Ended

Dec. 31, 2013

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

		Costs				Accumulated Depreciation				Net Book Value
Balance, January 1, 2012			326,449,124				(89,385,246	)			237,063,878
-      Depreciation for the year			-				(17,385,608	)			(17,385,608	)
-      Sale of vessels			(19,318,073	)			6,574,549				(12,743,524	)
Balance, December 31, 2012			307,131,051				(100,196,305	)			206,934,746
-      Depreciation for the year			-				(19,983,772	)			(19,983,772	)
-      Sale of vessels			(20,272,071	)			11,014,234				(9,257,837	)
-      Purchase of vessels			5,978,062				-				5,978,062
- Impairment loss			(154,876,848	)			76,669,386				(78,207,462	)
Balance, December 31, 2013			137,960,194				(32,496,457	)			105,463,737

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph b

-Article 5

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