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Note 16 - Voyage Expenses and Vessel Operating Expenses

12 Months Ended

Dec. 31, 2016

Notes to Financial Statements

Voyage Expenses and Vessel Operating Expenses [Text Block]

16. Voyage Expenses and Vessel Operating Expenses

The amounts in the accompanying consolidated statements of operations are analyzed as follows:

		Year ended December 31,
Voyage Expenses		2014				2015				2016
Port expenses			2,278,961				3,960,574				3,306,157
Bunkers			7,553,318				8,566,490				6,117,326
Commissions			3,725,645				4,112,177				4,259,812
Other voyage expenses			529,587				936,297				1,706, 970
Total			14,087,511				17,575,538				15,390,265

		Year ended December 31,
Vessels’ Operating Expenses		2014				2015				2016
Crew wages and related costs			26,378,730				31,391,419				36,821,527
Insurance			2,028,142				2,415,028				2,421,948
Repairs and maintenance			5,194,476				5,091,916				5,724,148
Spares and consumable stores			7,120,974				7,978,592				8,514,293
Miscellaneous expenses			4,713,014				3,777,670				5,340,920
Total			45,435,336				50,654,625				58,822,836

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