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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
Revenues      
Revenues $ 136,539,399 $ 131,501,881 $ 122,158,892
Revenues – related party 7,592,784 9,814,000 9,814,000
Total revenues 144,132,183 141,315,881 131,972,892
Expenses      
Voyage expenses 13,618,025 15,849,855 12,474,090
Voyage expenses – related party 1,772,240 1,725,683 1,613,421
Charter hire expenses 4,054,387 4,124,960 320,804
Vessels’ operating expenses 55,680,993 46,477,583 41,335,984
Vessels’ operating expenses – related party 3,141,843 4,177,042 4,099,352
Dry-docking costs 3,613,230 1,774,905 465,681
Management fees – related party 7,346,180 6,452,145 5,501,675
General and administrative expenses (including $1,394,025, $1,150,451, and $1,187,037, to related party) 3,110,409 3,655,316 3,150,929
Depreciation 39,096,589 35,857,507 33,811,607
Impairment loss 5,735,086 8,238,987 6,168,747
Net gain on sale of vessels (118,427) (33,251)
Total expenses 137,050,555 128,300,732 108,942,290
Income from operations 7,081,628 13,015,149 23,030,602
Other (expenses)/income      
Interest and finance costs (14,268,148) (10,385,261) (9,314,539)
Loss on derivatives (767,196) (370,584) (1,348,384)
Interest income and other income/(expenses) 454,472 173,083 456,924
Foreign exchange (loss)/gain (299,056) 134,291 (138,777)
Other expenses, net (14,879,928) (10,448,471) (10,344,776)
Net income/(loss) $ (7,798,300) $ 2,566,678 $ 12,685,826
Earnings/(Loss) per share      
– Basic and diluted (in dollars per share) $ (0.20) $ 0.06 $ 0.32
Weighted average number of shares      
– Basic and diluted (in shares) 39,824,038 41,315,127 39,305,644