CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Cash flows from operating activities
Net income (loss)	$ (14,819,749)	$ 26,844,650	$ 33,287,271
Items included in net income not affecting cash flows:
Depreciation and amortization	69,887,121	59,503,895	41,380,917
Amortization of deferred drydocking costs	3,196,984	3,441,583	2,948,341
Amortization of deferred financing costs	4,172,604	3,202,455	1,373,998
Write-off of deferred financing costs	0	0	3,383,289
Amortization of fair value (below) above contract value of time charter acquired	(5,088,268)	(4,754,407)	(2,643,820)
Loss (gain) on sale of vessel	509,076	(291,011)	0
Unrealized (gain) loss on derivatives, net	(373,868)	127,758	0
Allowance for accounts receivable	1,811,320	0	0
Non-cash compensation expense	8,907,089	14,741,813	13,977,974
Changes in operating assets and liabilities:
Accounts receivable	(1,405,602)	(6,923,045)	(3,085,613)
Prepaid expenses	(510,184)	1,529,725	(1,691,645)
Inventories	(7,893,279)	(3,190,052)	0
Other assets	(2,527,269)	(70,001)	0
Accounts payable	4,553,558	3,799,940	252,273
Accrued interest	(4,526,690)	(4,211,361)	1,429,939
Accrued expenses	5,972,108	2,022,756	805,743
Drydocking expenditures	(2,809,406)	(2,827,534)	(4,477,244)
Deferred revenue	(448,024)	159,467	4,684,138
Unearned charter hire revenue	(311,404)	1,233,199	(1,100,700)
Net cash provided by operating activities	58,296,117	94,339,830	90,524,861
Cash flows from investing activities:
Vessels and vessel improvements and Advances for vessel construction	(179,105,635)	(301,795,862)	(228,530,198)
Purchase of other fixed assets	(356,631)	(255,713)	(94,065)
Proceeds from sale of vessel	22,511,226	21,055,784	0
Investment	(955,093)	0	0
Changes in restricted cash	119,923	0	0
Net cash used in investing activities	(157,786,210)	(280,995,791)	(228,624,263)
Cash flows from financing activities
Issuance of common stock	0	0	99,999,997
Equity issuance costs	0	0	(2,708,951)
Bank borrowings	0	251,183,596	159,215,000
Repayment of debt	(21,875,735)	0	(48,645,523)
Changes in restricted cash	19,000,000	(6,014,285)	(2,000,000)
Deferred financing costs	0	0	(4,515,623)
Cash used to settle net share equity awards	(1,680,649)	(736,443)	(1,109,587)
Net cash provided by (used in) financing activities	(4,556,384)	244,432,868	200,235,313
Net increase/(decrease) in Cash	(104,046,477)	57,776,907	62,135,911
Cash at beginning of period	129,121,680	71,344,773	9,208,862
Cash at end of period	25,075,203	129,121,680	71,344,773
Supplemental cash flow information:
Cash paid during the period for Interest (including capitalized interest and commitment fees of $3,200,486, $13,725,858 and $26,643,519 in 2011, 2010 and 2009, respectively)	$ 48,498,289	$ 57,480,100	$ 52,760,344