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Transactions with Related Parties (Tables) | 12 Months Ended
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Dec. 31, 2021
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 |  | 2019 |  |  | 2020 |  |  | 2021 |
Management fees |  | Management fees – related party |  |  | 5,730,910 |  |  |  | 5,599,351 |  |  |  | 5,831,900 |
Brokerage commissions |  | Voyage expenses – related party |  |  | 1,788,543 |  |  |  | 1,799,209 |  |  |  | 1,867,100 |
Superintendent fees |  | Vessels’ operating expenses – related party |  |  | 104,000 |  |  |  | 38,000 |  |  |  | 117,000 |
Crew management fees |  | Vessels’ operating expenses – related party |  |  | 862,500 |  |  |  | 912,500 |  |  |  | 948,750 |
Commissions - vessels sold |  | Net loss on sale of vessels |  |  | 109,000 |  |  |  | 54,000 |  |  |  | 81,000 |
Commissions - vessel held for sale |  | Impairment loss |  |  | — |  |  |  | — |  |  |  | 125,000 |
Executive compensation |  | General and administrative expenses |  |  | 1,118,491 |  |  |  | 994,840 |  |  |  | 1,028,386 |
Rental expense |  | General and administrative expenses |  |  | 87,192 |  |  |  | 90,121 |  |  |  | 97,726 |
|  |  |  | December 31, |
|  | Location in balance sheet |  | 2019 |  |  | 2020 |  |  | 2021 |
Commissions - vessels purchased |  | Vessels, net |  |  | — |  |  |  | 435,000 |  |  |  | 289,347 |
Supervision fees |  | Advances for vessel under construction/Vessels, net |  |  | — |  |  |  | 210,970 |  |  |  | 236,521 |

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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. + References No definition available. + Details
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