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Long-term Debt (Tables) | 12 Months Ended
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Dec. 31, 2018
Debt Disclosure [Abstract] |
Schedule of Debt |
Term Loans |  | Drawn |  | December 31, |  | Movement in 2018 |  |  | December 31,
Issue Date |  | Maturity Date |  | Amount |  | 2017 |  | Additions |  | Repayments |  |  | 2018
February 12, 2008 |  | February 19, 2020 |  | 40,250,000 |  | 14,375,000 |  | — |  |  | (2,500,000 | ) |  | 11,875,000
July 30, 2008 |  | November 4, 2020 |  | 33,240,000 |  | 15,789,000 |  | — |  |  | (1,939,000 | ) |  | 13,850,000
October 9, 2008 |  | October 9, 2020 |  | 29,437,000 |  | 6,310,000 |  | — |  |  | (6,310,000 | ) |  | —
December 14, 2018 |  | December 18, 2023 |  | 14,094,184 |  | 17,114,365 |  | — |  |  | (3,020,181 | ) |  | 14,094,184
April 14, 2014 |  | April 14, 2020 |  | 20,400,000 |  | 13,100,000 |  | — |  |  | (1,400,000 | ) |  | 11,700,000
March 27, 2018 |  | March 1, 2024 |  | 27,675,000 |  | 27,950,000 |  | — |  |  | (2,750,000 | ) |  | 25,200,000
March 1, 2011 |  | June 20, 2020 |  | 43,250,000 |  | 26,375,000 |  | — |  |  | (3,000,000 | ) |  | 23,375,000
September 23, 2013 |  | September 30, 2020 |  | 45,212,500 |  | 23,739,007 |  | — |  |  | (8,494,310 | ) |  | 15,244,697
March 24, 2014 |  | July 31, 2022 |  | 50,225,000 |  | 39,235,000 |  | — |  |  | (3,605,000 | ) |  | 35,630,000
April 16, 2014 |  | April 16, 2020 |  | 30,000,000 |  | 19,005,000 |  | — |  |  | (2,705,000 | ) |  | 16,300,000
December 14, 2018 |  | December 18, 2023 |  | 9,480,000 |  | 10,360,000 |  | — |  |  | (880,000 | ) |  | 9,480,000
June 20, 2014 |  | January 8, 2023 |  | 20,925,000 |  | 17,020,000 |  | — |  |  | (1,420,000 | ) |  | 15,600,000
December 20, 2013 |  | June 30, 2023 |  | 67,200,000 |  | 55,515,000 |  | — |  |  | (3,960,000 | ) |  | 51,555,000
December 24, 2015 |  | December 14, 2022 |  | 22,400,000 |  | 19,413,344 |  | — |  |  | (1,493,328 | ) |  | 17,920,016
July 4, 2014 |  | September 3, 2021 |  | 22,750,000 |  | 19,093,750 |  | — |  |  | (1,625,000 | ) |  | 17,468,750
July 29, 2014 |  | July 7, 2023 |  | 25,350,000 |  | 20,596,875 |  | — |  |  | (2,112,500 | ) |  | 18,484,375
December 7, 2017 |  | December 11, 2022 |  | 22,275,000 |  | 10,500,000 |  | 11,775,000 |  |  | (2,755,000 | ) |  | 19,520,000
May 18, 2016 |  | December 31, 2025 |  | 65,650,000 |  | 31,484,500 |  | 33,150,000 |  |  | (3,585,240 | ) |  | 61,049,260
March 1, 2017 |  | April 17, 2026 |  | 70,787,500 |  | — |  | 70,787,500 |  |  | (3,162,501 | ) |  | 67,624,999
Total |  |  |  |  |  | 386,975,841 |  | 115,712,500 |  |  | (56,717,060 | ) |  | 445,971,281
Current portion of long-term debt |  |  |  |  |  | 42,580,323 |  |  |  |  |  |  |  | 42,433,562
Current portion of long-term debt associated with vessels held for sale |  |  |  |  |  | — |  |  |  |  |  |  |  | 30,150,000
Long term debt |  |  |  |  |  | 344,395,518 |  |  |  |  |  |  |  | 373,387,719
Total debt |  |  |  |  |  | 386,975,841 |  |  |  |  |  |  |  | 445,971,281
Current portion of deferred finance charges |  |  |  |  |  | 613,716 |  |  |  |  |  |  |  | 706,725
Current portion of deferred finance charges associated with vessels held for sale |  |  |  |  |  | — |  |  |  |  |  |  |  | 73,644
Deferred finance charges non-current |  |  |  |  |  | 1,453,677 |  |  |  |  |  |  |  | 1,873,466
Total deferred finance charges |  |  |  |  |  | 2,067,393 |  |  |  |  |  |  |  | 2,653,835
Total debt |  |  |  |  |  | 386,975,841 |  |  |  |  |  |  |  | 445,971,281
Less: Total deferred finance charges |  |  |  |  |  | 2,067,393 |  |  |  |  |  |  |  | 2,653,835
Total debt, net of deferred finance charges |  |  |  |  |  | 384,908,448 |  |  |  |  |  |  |  | 443,317,446
Less: Current portion of long-term debt, net of current portion of deferred finance charges |  |  |  |  |  | 41,966,607 |  |  |  |  |  |  |  | 41,726,837
Less: Current portion of long-term debt associated with vessels held for sale, net of current portion of deferred finance charges |  |  |  |  |  | — |  |  |  |  |  |  |  | 30,076,356
|  |  |  |  |  | 342,941,841 |  |  |  |  |  |  |  | 371,514,253
Schedule of Maturities of Long-term Debt | The annual principal payments to be made, for the abovementioned loans, after December 31, 2018 are as follows:
December 31, |  | Amount |
2019 |  |  | 72,583,562 |
2020 |  |  | 59,421,264 |
2021 |  |  | 67,040,014 |
2022 |  |  | 86,626,911 |
2023 |  |  | 63,483,131 |
Thereafter |  |  | 96,816,399 |
Total |  |  | 445,971,281 |

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