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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2019
Dec. 31, 2018
Dec. 31, 2017
Revenues      
Revenues $ 144,259,312 $ 164,330,202 $ 152,338,278
Revenues – related party     1,973,643
Total revenues 144,259,312 164,330,202 154,311,921
Expenses      
Voyage expenses 15,201,978 18,649,258 13,804,032
Voyage expenses – related party 1,788,543 2,037,917 1,912,505
Charter hire expenses 6,268,988 6,150,780 3,524,770
Vessels' operating expenses 48,619,594 59,920,278 58,618,526
Vessels' operating expenses – related party 966,500 514,500 800,908
Dry-docking costs 1,094,306 3,617,577 3,529,047
Management fees – related party 5,730,910 7,027,195 7,205,490
General and administrative expenses (including $1,209,499, $1,294,722, and $1,205,683 to related party) 3,706,320 3,046,962 2,898,958
Depreciation 37,693,733 41,258,142 38,921,672
Impairment loss 993,916 11,351,821 6,461,273
Net loss on sale of vessels 485,516 763,925 77,314
Other operating costs/(income)   (549,804) 1,058,863
Total expenses 122,550,304 153,788,551 138,813,358
Income from operations 21,709,008 10,541,651 15,498,563
Other (expenses)/income      
Interest and finance costs (20,978,065) (23,286,547) (16,661,464)
Gain on deconsolidation of subsidiaries 145,000    
Loss on derivatives (107,550) (11,982) (403,943)
Interest income and other income 846,271 587,477 322,868
Foreign exchange gain/(loss) (8,235) (107,119) 25,739
Other expenses, net (20,102,579) (22,818,171) (16,716,800)
(Loss)/Income before equity in income of investees 1,606,429 (12,276,520) (1,218,237)
Equity gain in joint ventures 486,695    
Net (Loss)/Income $ 2,093,124 $ (12,276,520) $ (1,218,237)
(Loss)/earnings per share      
– Basic and diluted $ 0.05 $ (0.31) $ (0.03)
Weighted average number of shares      
– Basic and diluted 39,800,434 39,860,563 39,809,364