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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Dec. 31, 2018
Revenues      
Revenues $ 145,003,021 $ 144,259,312 $ 164,330,202
Total revenues 145,003,021 144,259,312 164,330,202
Expenses      
Voyage expenses 12,259,795 15,201,978 18,649,258
Voyage expenses – related party 1,799,209 1,788,543 2,037,917
Charter hire expenses 318,606 6,268,988 6,150,780
Vessels' operating expenses 52,344,721 48,619,594 59,920,278
Vessels' operating expenses – related party 950,500 966,500 514,500
Dry-docking costs 3,640,327 1,094,306 3,617,577
Management fees – related party 5,599,351 5,730,910 7,027,195
General and administrative expenses (including $1,294,722, $1,205,683 and $1,084,961 to related party) 2,301,308 3,706,320 3,046,962
Depreciation 37,455,093 37,693,733 41,258,142
Impairment loss 3,857,307 993,916 11,351,821
Net loss on sale of vessels 1,134,854 485,516 763,925
Other operating income     (549,804)
Total expenses 121,661,071 122,550,304 153,788,551
Income from operations 23,341,950 21,709,008 10,541,651
Other (expenses)/income      
Interest and finance costs (14,129,893) (20,978,065) (23,286,547)
Gain on deconsolidation of subsidiaries 0 145,000  
Loss on derivatives (50,976) (107,550) (11,982)
Interest income and other income 167,794 846,271 587,477
Foreign exchange loss (54,374) (8,235) (107,119)
Other expenses, net (14,067,449) (20,102,579) (22,818,171)
(Loss)/Income before equity in earnings of investees 9,274,501 1,606,429 (12,276,520)
Equity earnings in joint ventures 2,709,984 486,695  
Net (Loss)/Income $ 11,984,485 $ 2,093,124 $ (12,276,520)
(Loss)/Earnings per share      
– Basic and diluted $ 0.31 $ 0.05 $ (0.31)
Weighted average number of shares      
– Basic and diluted 38,357,893 39,800,434 39,860,563