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Consolidated Statements of Income - USD ($)
 12 Months Ended
Dec. 31, 2024
Dec. 31, 2023
Dec. 31, 2022
Revenues      
Revenues $ 167,262,185 $ 143,527,769 $ 152,760,888
Total revenues 167,262,185 143,527,769 152,760,888
Expenses      
Voyage expenses 9,594,880 11,429,716 20,306,407
Voyage expenses – related party 2,063,228 1,779,488 1,871,071
Vessels' operating expenses 48,961,137 52,206,248 53,909,328
Vessels' operating expenses – related party 875,002 911,250 1,035,450
Dry-docking costs 5,312,614 2,641,706 2,954,575
Management fees – related party 4,258,240 4,531,920 5,242,990
General and administrative expenses (including $1,012,829, $1,074,549 and $1,049,452 to related party) 10,309,693 5,331,029 3,404,141
Depreciation 26,076,687 23,707,797 27,814,901
Impairment loss 0 2,816,873 3,167,034
Net loss/(gain) on sale of vessels (46,384) (7,645,781) 408,637
Total expenses 107,405,097 97,710,246 120,114,534
Income from operations 59,857,088 45,817,523 32,646,354
Other (expenses)/income      
Interest and finance costs (9,062,562) (9,956,712) (12,076,300)
Gain on derivatives 99,286 237,618 1,698,462
Interest income 3,416,221 3,712,239 1,098,789
Foreign exchange gain/(loss) (70,692) (190,722) 23,373
Other expenses, net (5,617,747) (6,197,577) (9,255,676)
Income before equity in earnings of investees 54,239,341 39,619,946 23,390,678
Equity earnings in joint ventures 15,622,836 12,316,883 10,862,687
Net Income $ 69,862,177 $ 51,936,829 $ 34,253,365
Earnings per share      
Basic $ 1.91 $ 1.38 $ 0.9
Diluted $ 1.9 $ 1.37 $ 0.9
Weighted average number of shares      
Basic 35,237,059 37,166,449 37,961,560
Diluted 35,333,160 37,236,951 37,961,673