CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED) (USD $)	9 Months Ended
	Sep. 30, 2011	Sep. 30, 2010
Cash flows from operating activities:
Net income (loss)	$ (13,120,770)	$ 23,811,709
Items included in net income not affecting cash flows:
Depreciation	51,014,334	44,151,616
Amortization of deferred drydocking costs	2,445,175	2,285,674
Amortization of deferred financing costs	3,014,720	2,246,917
Amortization of fair value below contract value of time charter acquired	(3,833,571)	(3,424,205)
Loss (Gain) from sale of vessel	509,076	(291,011)
Unrealized gain from forward freight agreements, net	377,889	0
Allowance for accounts receivable	6,586,900	0
Non-cash compensation expense	6,958,931	11,694,957
Drydocking expenditures	(2,074,115)	(1,505,520)
Changes in operating assets and liabilities:
Accounts receivable	(16,264,471)	(4,028,033)
Other assets	(2,528,419)	(60,582)
Prepaid expenses	(198,860)	85,783
Inventories	(5,087,644)	(884,234)
Accounts payable	3,309,380	612,861
Accrued interest	(2,495,987)	(3,739,062)
Accrued expenses	8,709,633	11,630,204
Deferred revenue	19,244	(262,098)
Unearned revenue	(233,646)	3,473,602
Net cash provided by operating activities	37,107,799	85,798,578
Cash flows from investing activities:
Vessels and vessel improvements and advances for vessel construction	(155,686,543)	(266,422,482)
Purchase of other fixed assets	(342,932)	(188,993)
Proceeds from sale of vessel	22,511,226	21,055,784
Changes in restricted cash	(1,131,519)	0
Net cash used in investing activities	(134,649,768)	(245,555,691)
Cash flows from financing activities:
Bank borrowings	0	223,494,867
Repayment of bank debt	(21,875,735)	0
Changes in restricted cash	19,000,000	(5,500,000)
Cash used to settle net share equity awards	(1,429,982)	(445,230)
Net cash (used in) provided by financing activities	(4,305,717)	217,549,637
Net (decrease) increase in cash	(101,847,686)	57,792,524
Cash at beginning of period	129,121,680	71,344,773
Cash at end of period	$ 27,273,994	$ 129,137,297