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Unaudited Condensed Consolidated Statements of Operations - USD ($)
 6 Months Ended
Jun. 30, 2017
Jun. 30, 2016
Revenues    
Voyage revenue $ 19,278,103 $ 14,544,476
Related party revenue 120,000 120,000
Commissions (including $180,828 and $240,976, respectively, to related party) (1,095,439) (778,714)
Net revenue 18,302,664 13,885,762
Operating expenses    
Voyage expenses 2,003,598 907,725
Vessel operating expenses (including $121,166 and $117,705, respectively, to related party) 10,320,414 9,295,507
Dry-docking expenses 118,603 1,173,833
Vessel depreciation 4,273,776 4,381,540
Related party management fees 1,763,084 1,584,385
Gain on sale of vessel (516,561) (10,597)
Loss on termination of newbuilding contract 1,448,268
Other general and administrative expenses (including $1,000,000 and $1,000,000, respectively, to related party) 1,905,548 1,869,221
Total operating expenses 19,868,462 20,649,882
Operating loss (1,565,798) (6,764,120)
Other income/(expenses)    
Interest and other financing costs (1,626,900) (915,774)
Loss on derivatives, net (29,053) (264,887)
Other investment income 683,141
Foreign exchange loss (19,859) (27,132)
Interest income 16,099 9,605
Other expenses, net (1,659,713) (515,047)
Equity loss in joint venture (752,556)
Impairment of investment in joint venture (14,000,000)
Net loss (3,225,511) (22,031,723)
Dividend Series B Preferred shares (885,785) (847,417)
Earnings / Net loss available to common shareholders $ (4,111,296) $ (22,879,140)
Loss per share, basic and diluted (in dollars per share) $ (0.37) $ (2.82)
Weighted average number of shares outstanding, basic & diluted (in shares) 11,030,754 8,104,860