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Consolidated Statements of Operations (USD $)
 12 Months Ended
Dec. 31, 2013
Dec. 31, 2012
Dec. 31, 2011
Revenues      
Voyage revenue (Note 8) $ 40,850,051 $ 54,921,697 $ 64,129,511
Related party revenue (Note 18) 240,000 240,000 240,000
Commissions (including $766,304, $641,104 and $474,466, respectively, to related party) (Note 9, 15) (1,936,381) (2,673,703) (2,972,967)
Net revenue 39,153,670 52,487,994 61,396,544
Operating expenses      
Voyage expenses (Note 15) 1,537,898 1,329,668 777,902
Vessel operating expenses (including $392,731, $347,840, and $399,665 , respectively, to related party) (Note 9, 15) 25,191,250 25,075,139 26,249,339
Dry-docking expenses 3,816,699 1,616,425 3,148,111
Vessel depreciation (Note 5) 19,983,772 17,385,608 18,348,556
Related party management fees (Note 9) 4,891,024 4,984,098 5,810,095
Other general and administrative expenses (including $1,225,000, $1,850,000, and $1,900,000, respectively, to related party) (Note 9, 13) 3,542,619 3,661,426 2,986,507
Net loss on sale of vessels (including $43,823 and $76,183 to related party) (Note 5) 1,935,019 8,568,234  
Impairment loss 78,207,462    
Other income (Note 20)   (254,604) (735,707)
Total operating expenses 139,105,743 62,365,994 56,584,803
Operating (loss)/income (99,952,073) (9,878,000) 4,811,741
Other income/(expenses)      
Interest and other financing costs (1,845,776) (1,977,226) (2,191,235)
Loss on derivatives, net (Note 17) (177,132) (637,403) (1,498,122)
Foreign exchange (loss)/gain (10,143) 8,321 (17,122)
(Loss)/gain on trading securities   20,373 (235,750)
Other income (Note 18) 196,196    
Interest income 387,292 484,886 248,892
Other expenses, net (1,449,563) (2,101,049) (3,693,337)
Equity loss in joint venture (Note 18) (2,023,191) (1,219,692) (2,415)
Net income/(loss) $ (103,424,827) $ (13,198,741) $ 1,115,989
Earnings/(Loss) per share - basic (Note 14) (in Dollars per share) $ (2.28) $ (0.34) $ 0.04
Weighted average number of shares outstanding during the year, basic (Note 14) (in Shares) 45,442,841 38,950,100 31,794,381
(Loss)/Earnings per share - diluted (Note 14) (in Dollars per share) $ (2.28) $ (0.34) $ 0.04
Weighted average number of shares outstanding during the year, diluted (Note 14) (in Shares) 45,442,841 38,950,100 31,846,080