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Unaudited Condensed Consolidated Statements of Income (USD $)
 9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Revenues $ 88,627,399 $ 89,396,439
Expenses    
Voyage expenses 8,847,732 13,096,063
Vessels’ operating expenses 22,857,618 28,791,931
Dry-docking costs 2,045,656 2,575,799
Management fees 3,207,885 3,673,865
General and administrative expenses 2,151,866 1,973,265
Depreciation 21,442,465 20,589,001
Net loss/(gain) on sale of vessels (1,372,409) 5,654,178
Total expenses 59,180,813 76,354,102
Income from operations 29,446,586 13,042,337
Other (expenses)/income    
Interest and finance costs (7,250,396) (6,270,788)
Loss on derivatives (1,153,309) (2,760,836)
Interest income 169,844 38,732
Foreign exchange gain/(loss) (13,316) 54,555
Other expenses, net (8,247,177) (8,938,337)
Net income $ 21,199,409 $ 4,104,000
Earnings per share    
- Basic (in Dollars per share) $ 1.03 $ 0.20
- Diluted (in Dollars per share) $ 1.03 $ 0.20
Weighted average number of shares    
-Basic (in Shares) 20,552,568 21,029,322
-Diluted (in Shares) 20,552,568 21,029,322