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Note 5 - Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2014

Disclosure Text Block [Abstract]

Schedule of Long-term Debt Instruments [Table Text Block]

Borrower		December 31, 2013				June 30, 2014
Prospero Maritime Inc.			-				1,906,250
Allendale Investments S.A.			-				1,906,250
Eternity Shipping Company			-				1,906,250
Pillory Associates Corporation			-				1,906,250
Eirini Shipping Ltd.			-				15,300,000
Xingang Shipping Ltd. / Alcinoe Shipping Ltd			5,000,000				4,600,000
Manolis Shipping Ltd.			5,840,000				5,520,000
Saf Concord Shipping Ltd.			5,250,000				4,750,000
Eleni Shipping Ltd.			5,400,000				-
Pantelis Shipping Corp.			7,360,000				6,800,000
Aggeliki Shipping Ltd.			4,864,000				4,258,000
Noumea Shipping Ltd.			11,930,000				10,585,000
			45,644,000				59,438,000
Less: Current portion			(12,862,000	)			(14,617,000	)
Long-term portion		$	32,782,000			$	44,821,000

Schedule of Future Annual Loan Repayments [Table Text Block]

To June 30:
2015			14,617,000
2016			16,056,000
2017			14,225,000
2018			4,840,000
2019			9,700,000
Total		$	59,438,000

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Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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