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Vessels, net (Tables)
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
Summary of Vessels, Net
The amounts shown in the accompanying consolidated balance sheets are analyzed as follows:
 
                         
 
  
Vessel cost
 
  
Accumulated
Depreciation
 
  
Net Book
Value
 
Balance, December 31, 2019
   
 
1,087,601,983
 
   
 
(252,449,580
) 
   
 
835,152,403
 
Additions
      44,894,678        —          44,894,678  
Impairment loss
      (14,511,735 )       10,654,428        (3,857,307 ) 
Disposals
      (6,500,000 )       100,378        (6,399,622 ) 
Depreciation for the year
      —          (37,455,093 )       (37,455,093 ) 
    
 
 
     
 
 
     
 
 
  
Balance, December 31, 2020
   
 
1,111,484,926
 
   
 
(279,149,867
) 
   
 
832,335,059
 
Transfer from Advances for vessel under construction and acquisitions (Note 5)
      30,366,897        —          30,366,897  
Other additions
 
 
1,227,314
 
 
 
—  
 
 
 
1,227,314
 
Impairment loss
      (169,553,060 )       124,936,846        (44,616,214 ) 
Disposals
      (8,100,000 )       —          (8,100,000 ) 
Transfer to Vessel held for sale
      (12,250,000 )       —          (12,250,000 ) 
Spin-off
of tankers (Note 1)
      (80,500,000 )       —          (80,500,000 ) 
Depreciation for the year
      —          (37,125,903 )       (37,125,903 ) 
Balance, December 31, 2021
   
 
872,676,077
 
   
 
(191,338,924
) 
   
 
681,337,153