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Note 17 - Derivative Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Derivatives not designated as hedging instruments	Balance Sheet Location	December 31, 2012	December 31, 2013
Interest rate swap contracts	Current liabilities – Derivatives	1,718,438	697,889
Interest rate contracts	Long-term liabilities – Derivatives	675,130	319,859
Total derivative liabilities		2,393,568	1,017,748

Derivative Instruments, Gain (Loss) [Table Text Block]

Derivatives not designated as hedging instruments	Location of gain (loss) recognized	Year Ended December 31, 2011	Year Ended December 31, 2012	Year Ended December 31, 2013
FFA contracts – Fair value	Change in fair value of derivatives	(574,336)	-	-
FFA contracts   - Realized loss	Change in fair value of derivatives	910,088	(2,247)	-
Interest rate – Fair value	Change in fair value of derivatives	(76,516)	1,057,928	1,375,820
Interest rate contracts   - Realized loss	Change in fair value of derivatives	(1,758,158)	(1,693,084)	(1,552,952)
Total loss on derivatives		(1,498,122)	(637,403)	(177,132)

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- Definition

Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4A

-Subparagraph (b)

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5618551-113959



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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4C

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624171-113959

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- Definition

Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position.

+ References

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

-Publisher FASB

-Name Accounting Standards Codification

-Topic 815

-SubTopic 10

-Section 50

-Paragraph 4B

-URI http://asc.fasb.org/extlink&oid=7476318&loc=SL5624163-113959

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