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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Time charter revenue $ 195,779,495 $ 189,630,465 $ 97,977,389
Commissions (including $1,075,274, $2,370,381 and $2,350,919, respectively, to related party) (6,422,112) (6,936,221) (4,085,717)
Net revenue 189,357,383 182,694,244 93,891,672
Operating expenses / (income)      
Voyage expenses 1,284,375 2,476,854 624,734
Vessel operating expenses (including $233,635, $353,842 and $344,624, respectively, to related party) 42,004,155 37,667,191 29,739,437
Dry-docking expenses 3,373,648 9,506,675 4,094,693
Vessel depreciation 22,835,469 18,522,217 7,203,198
Related party management fees 5,720,831 4,920,063 4,294,789
General and administrative expenses (including $2,460,000, $2,420,000 and $2,650,000, respectively, to related party) 4,744,907 4,571,030 3,491,120
Net loss / (gain) on sale of vessel (5,158,370) 0 9,417
Impairments loss 13,832,716 0 0
Other operating income (2,727,114) (1,610,000) (1,298,318)
Gain on time charter agreements termination (15,984,253) 0 0
Total operating expenses, net 69,926,364 76,054,030 48,159,070
Operating income 119,431,019 106,640,214 45,732,602
Other (expenses)/ income      
Interest and other financing costs (including $50,000, $0 and $0, respectively, to related party) (6,431,007) (5,072,619) (2,779,729)
(Loss) / gain on derivatives, net 178,128 4,355,657 (27,141)
Foreign exchange gain / (loss) (33,634) 54,235 34,418
Interest income 1,404,773 267,429 3,510
Other expenses, net (4,881,740) (395,298) (2,768,942)
Net income 114,549,279 106,244,916 42,963,660
Dividends to Series B preferred shares 0 0 (255,324)
Preferred deemed dividend 0 0 (345,628)
Net income attributable to common shareholders $ 114,549,279 $ 106,244,916 $ 42,362,708
Weighted average number of shares outstanding during the year, basic (in shares) 6,931,280 7,181,561 6,976,905
Earnings per share attributable to common shareholders - basic (in dollars per share) $ 16.53 $ 14.79 $ 6.07
Weighted average number of shares outstanding during the year, diluted (in shares) 6,936,060 7,190,107 6,993,405
Earnings per share attributable to common shareholders - diluted (in dollars per share) $ 16.52 $ 14.78 $ 6.06