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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2015
Revenues      
Revenues $ 152,338,278 $ 136,539,399 $ 131,501,881
Revenues – related party 1,973,643 7,592,784 9,814,000
Total revenues 154,311,921 144,132,183 141,315,881
Expenses      
Voyage expenses 13,804,032 13,618,025 15,849,855
Voyage expenses – related party 1,912,505 1,772,240 1,725,683
Charter hire expenses 3,524,770 4,054,387 4,124,960
Vessels’ operating expenses 58,618,526 55,680,993 46,477,583
Vessels’ operating expenses – related party 800,908 3,141,843 4,177,042
Dry-docking costs 3,529,047 3,613,230 1,774,905
Management fees – related party 7,205,490 7,346,180 6,452,145
General and administrative expenses (including $1,150,451, $1,187,037, and $1,209,499, to related party) 2,898,958 3,110,409 3,655,316
Depreciation 38,921,672 39,096,589 35,857,507
Impairment loss 6,461,273 5,735,086 8,238,987
Net (gain)/loss on sale of vessels 77,314 (118,427) (33,251)
Other operating costs 1,058,863
Total expenses 138,813,358 137,050,555 128,300,732
Income from operations 15,498,563 7,081,628 13,015,149
Other (expenses)/income      
Interest and finance costs (16,661,464) (14,268,148) (10,385,261)
Loss on derivatives (403,943) (767,196) (370,584)
Interest income and other income 322,868 454,472 173,083
Foreign exchange gain/(loss) 25,739 (299,056) 134,291
Other expenses, net (16,716,800) (14,879,928) (10,448,471)
Net income/(loss) $ (1,218,237) $ (7,798,300) $ 2,566,678
Earnings/(Loss) per share      
– Basic and diluted (in dollars per share) $ (0.03) $ (0.20) $ 0.06
Weighted average number of shares      
– Basic and diluted (in shares) 39,809,364 39,824,038 41,315,127