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Transactions with Related Parties (Tables) | 12 Months Ended
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Dec. 31, 2023
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 |  | 2021 |  |  | 2022 |  |  | 2023 |
Management fees |  | Management fees – related party |  |  | 5,831,900 |  |  |  | 5,242,990 |  |  |  | 4,531,920 |
Brokerage commissions |  | Voyage expenses – related party |  |  | 1,867,100 |  |  |  | 1,871,071 |  |  |  | 1,779,488 |
Superintendent fees |  | Vessels’ operating expenses – related party |  |  | 117,000 |  |  |  | 120,000 |  |  |  | 110,500 |
Crew management fees |  | Vessels’ operating expenses – related party |  |  | 948,750 |  |  |  | 915,450 |  |  |  | 800,750 |
Commissions – vessels sold |  | Net loss/(gain) on sale of vessels |  |  | 81,000 |  |  |  | 120,250 |  |  |  | 728,150 |
Commissions – assets held for sale |  | Impairment loss |  |  | 125,000 |  |  |  | 108,000 |  |  |  | 353,400 |
Executive compensation |  | General and administrative expenses |  |  | 1,028,386 |  |  |  | 924,503 |  |  |  | 970,382 |
Rental expense |  | General and administrative expenses |  |  | 97,726 |  |  |  | 88,326 |  |  |  | 104,167 |

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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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