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Consolidated Statements of Operations - USD ($)
 12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Revenues      
Revenues $ 143,527,769 $ 152,760,888 $ 150,204,527
Total revenues 143,527,769 152,760,888 150,204,527
Expenses      
Voyage expenses 11,429,716 20,306,407 20,342,186
Voyage expenses – related party 1,779,488 1,871,071 1,867,100
Vessels' operating expenses 52,206,248 53,909,328 60,443,813
Vessels' operating expenses – related party 911,250 1,035,450 1,065,750
Dry-docking costs 2,641,706 2,954,575 5,285,490
Management fees – related party 4,531,920 5,242,990 5,831,900
General and administrative expenses (including $1,126,112, $1,012,829, and $1,074,549 to related party) 5,331,029 3,404,141 4,337,013
Depreciation 23,707,797 27,814,901 37,125,903
Impairment loss 2,816,873 3,167,034 44,616,214
Net loss/(gain) on sale of vessels (7,645,781) 408,637 304,210
Total expenses 97,710,246 120,114,534 181,219,579
(Loss)/Income from operations 45,817,523 32,646,354 (31,015,052)
Other (expenses)/income      
Interest and finance costs (9,956,712) (12,076,300) (12,678,101)
Gain on derivatives 237,618 1,698,462 240,153
Interest income 3,712,239 1,098,789 26,379
Foreign exchange (loss)/gain (190,722) 23,373 (23,288)
Other expenses, net (6,197,577) (9,255,676) (12,434,857)
(Loss)/Income before equity in earnings of investees 39,619,946 23,390,678 (43,449,909)
Equity earnings in joint ventures 12,316,883 10,862,687 8,326,701
Net (Loss)/Income $ 51,936,829 $ 34,253,365 $ (35,123,208)
Earnings/(Loss) per share      
Basic $ 1.38 $ 0.9 $ (0.93)
Diluted $ 1.37 $ 0.9 $ (0.93)
Weighted average number of shares      
Basic 37,166,449 37,961,560 37,858,437
Diluted 37,236,951 37,961,673 37,858,437