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v3.25.1

Transactions with Related Parties (Tables) | 12 Months Ended
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Dec. 31, 2024
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 income |  | 2022 |  |  | 2023 |  |  | 2024 |
Management fees |  | Management fees – related Party |  |  | 5,242,990 |  |  |  | 4,531,920 |  |  |  | 4,258,240 |
Brokerage commissions |  | Voyage expenses – related Party |  |  | 1,871,071 |  |  |  | 1,779,488 |  |  |  | 2,063,228 |
Superintendent fees |  | Vessels’ operating expenses – related party |  |  | 120,000 |  |  |  | 110,500 |  |  |  | 120,000 |
Crew management fees |  | Vessels’ operating expenses – related party |  |  | 915,450 |  |  |  | 800,750 |  |  |  | 755,002 |
Supervision fees |  | Vessels, net |  |  | — |  |  |  | — |  |  |  | 1,100,000 |
Commissions – vessels purchased |  | Vessels, net |  |  | — |  |  |  | — |  |  |  | 1,170,000 |
Commissions – vessels sold |  | Net loss/(gain) on sale of vessels |  |  | 120,250 |  |  |  | 728,150 |  |  |  | — |
Commissions – assets held for sale |  | Impairment loss |  |  | 108,000 |  |  |  | 353,400 |  |  |  | — |
Executive compensation |  | General and administrative expenses |  |  | 924,503 |  |  |  | 970,382 |  |  |  | 946,007 |
Rental expense |  | General and administrative expenses |  |  | 88,326 |  |  |  | 104,167 |  |  |  | 103,445 |

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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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