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Secured Long-term Debt (Tables)
 12 Months Ended
Dec. 31, 2022
Debt Disclosure [Abstract]  
Schedule of Long-Term Debt Instruments
Long-term debt consists of the following:  
December 31, 2022December 31, 2021
Interest Rate (%) (1)
Maturity Date
Bulk Nordic Odyssey (MI) Corp., Bulk Nordic Orion (MI) Corp. Senior Secured Term Loan Facility (2) (3)
14,395,409 16,224,189 2.95 %December 2027
Bulk Nordic Oshima (MI) Corp., Bulk Nordic Odin (MI) Corp., Bulk Nordic Olympic (MI) Corp., Bulk Nordic Oasis (MI) Corp. Secured Term Loan Facility (2) (3) (4)
44,600,000 49,400,000 3.38 %June 2027
The Amended Senior Facility - Dated May 13, 2019 (formerly The Amended Senior Facility - Dated December 21, 2017) (5)
–Bulk Nordic Six Ltd. - Tranche A (2)
10,099,993 11,166,661 4.39 %May 2024
–Bulk Nordic Six Ltd. - Tranche B
2,070,000 2,330,000 6.03 %May 2024
–Bulk Pride - Tranche C (2)
3,000,000 4,100,000 5.39 %May 2024
–Bulk Independence - Tranche E (2)
10,500,000 11,500,000 3.54 %May 2024
Bulk Freedom Loan Agreement— 2,600,000 June 2022
Bulk Valor Corp. Loan and Security Agreement (2)
11,424,507 12,718,279 3.29 %June 2028
Bulk Promise Corp. (2)
11,069,630 12,453,926 5.45 %October 2027
Bulk Sachuest (2)
$8,500,000 $— 6.19 %October 2029
109 Long Wharf Commercial Term Loan374,466 484,066 6.39 %April 2026
Total$116,034,005 $122,977,121 
Less: unamortized bank fees (6)
(1,431,736)(1,697,209)
$114,602,269 $121,279,912 
Less: current portion(15,782,530)(15,443,115)
Secured long-term debt, net$98,819,739 $105,836,797 

(1)As of December 31, 2022.
(2)Interest rates on the loan facilities are fixed.
(3)The borrowers under this facility are owned by NBHC. The Company has two-third's ownership interest and STST has one-third ownership interest in NBHC. NBHC is consolidated in accordance with ASC 810-10 and as such, amounts pertaining to the non-controlling ownership held by the third parties in the financial position of NBHC are reported as non-controlling interest in the accompanying balance sheets.
(4)On April 26, 2021, NBHC entered into a new Senior Secured Term Loan Facility with two new lenders. The agreement advanced $53.0 million in respect of the m/v Nordic Oshima, m/v Nordic Olympic, m/v Nordic Odin and m/v Nordic Oasis. The agreement requires repayment of the advance in 24 equal quarterly principal installments of $1.2 million beginning on June 15, 2021 and a balloon payment of $24.2 million due in June 2027.
(5)This facility is cross-collateralized by the vessels m/v Bulk Endurance, m/v Bulk Pride, and m/v Bulk Independence and is guaranteed by the Company.
(6)A portion of unamortized debt issuance costs were reclassified as a reduction of the finance leases liabilities. Refer to Note 10 "Finance Leases" for additional information.
Schedule of Maturities of Long-Term Debt
The future minimum annual payments under the debt agreements are as follows: 
 Years ending December 31,
2023$15,782,530 
202430,751,725 
202510,476,019 
202610,638,024 
202739,955,014 
Thereafter8,430,693 
 $116,034,005