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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2018
Dec. 31, 2017
Dec. 31, 2016
Revenues      
Revenues $ 164,330,202 $ 152,338,278 $ 136,539,399
Revenues - related party   1,973,643 7,592,784
Total revenues 164,330,202 154,311,921 144,132,183
Expenses      
Voyage expenses 18,649,258 13,804,032 13,618,025
Voyage expenses - related party 2,037,917 1,912,505 1,772,240
Charter hire expenses 6,150,780 3,524,770 4,054,387
Vessels' operating expenses 59,920,278 58,618,526 55,680,993
Vessels' operating expenses - related party 514,500 800,908 3,141,843
Dry-docking costs 3,617,577 3,529,047 3,613,230
Management fees - related party 7,027,195 7,205,490 7,346,180
General and administrative expenses (including $1,187,037, $1,209,499, and $1,294,722 to related party) 3,046,962 2,898,958 3,110,409
Depreciation 41,258,142 38,921,672 39,096,589
Impairment loss 11,351,821 6,461,273 5,735,086
Net (gain)/loss on sale of vessels 763,925 77,314 (118,427)
Other operating costs/(income) (549,804) 1,058,863  
Total expenses 153,788,551 138,813,358 137,050,555
Income from operations 10,541,651 15,498,563 7,081,628
Other (expenses)/income      
Interest and finance costs (23,286,547) (16,661,464) (14,268,148)
Loss on derivatives (11,982) (403,943) (767,196)
Interest income and other income 587,477 322,868 454,472
Foreign exchange (loss)/gain (107,119) 25,739 (299,056)
Other expenses, net (22,818,171) (16,716,800) (14,879,928)
Net loss $ (12,276,520) $ (1,218,237) $ (7,798,300)
Loss per share      
- Basic and diluted $ (0.31) $ (0.03) $ (0.20)
Weighted average number of shares      
- Basic and diluted 39,860,563 39,809,364 39,824,038