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Note 6 - Vessels, Net (Tables)

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment [Table Text Block]

		Vessel cost				Accumulated Depreciation				Net Book Value
Balance, December 31, 2012			776,302,690				(141,668,019	)			634,634,671
Acquisitions			73,149,904				—				73,149,904
Depreciation for the year			—				(30,761,673	)			(30,761,673	)
Balance, December 31, 2013			849,452,594				(172,429,692	)			677,022,902
Acquisitions (transfer from Advances for Vessels under Construction and Acquisitions)			101,459,533				—				101,459,533
Disposals			(39,075,007	)			11,925,771				(27,149,236	)
Impairment loss			(16,449,131	)			10,280,384				(6,168,747	)
Depreciation for the year			—				(33,811,607	)			(33,811,607	)
Balance, December 31, 2014			895,387,989				(184,035,144	)			711,352,845

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- Definition

Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 360

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 210

-SubTopic 10

-Section S99

-Paragraph 1

-Subparagraph (SX 210.5-02.13)

-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682



Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Regulation S-X (SX)

-Number 210

-Section 02

-Paragraph 13

-Subparagraph b

-Article 5

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