XML 47 R31.htm IDEA: XBRL DOCUMENT

Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2020

Related Party Transactions [Abstract]

Summary of Charged By Our Related Parties

The amounts charged by the Company’s related parties comprised the following:


				Year ended December 31,
		Location in statement of operations		2018				2019				2020
Management fees		Management fees – related party			7,027,195				5,730,910				5,599,351
Brokerage commissions		Voyage expenses – related party			2,037,917				1,788,543				1,799,209
Superintendent fees		Vessels’ operating expenses – related party			137,000				104,000				38,000
Crew management fees		Vessels’ operating expenses – related party			377,500				862,500				912,500
Commissions - vessels sold		Net loss on sale of vessels			184,000				109,000				54,000
Commissions - vessels sold		Impairment loss			212,650				—				—
Executive compensation		General and administrative expenses			1,210,036				1,118,491				994,840
Rental expense		General and administrative expenses			84,686				87,192				90,121


				December 31,
		Location in balance sheet		2018				2019				2020
Commissions - vessels purchased		Vessels, net			1,598,858				—				435,000
Supervision fees		Vessels, net			1,790,789				—				—
Supervision fees		Advances for vessel under construction			—				—				210,970