XML 32 R52.htm IDEA: XBRL DOCUMENT v2.4.0.6
Commitments and Contingencies (Details Textual) (USD $)
1 Months Ended 3 Months Ended 12 Months Ended 0 Months Ended 3 Months Ended 12 Months Ended
Jul. 31, 2011
Nov. 30, 2010
Dec. 31, 2005
Dec. 31, 2011
Dec. 31, 2012
Dec. 31, 2011
Dec. 31, 2010
Mar. 03, 2011
Jan. 03, 2013
Korea Line Corporation [Member]
Dec. 31, 2012
Korea Line Corporation [Member]
Dec. 31, 2012
Letter Of Credit [Member]
Dec. 31, 2012
Until January 2014 [Member]
Jul. 28, 2011
First To Seventh Year [Member]
Jul. 28, 2011
Eight Year [Member]
Monthly Technical Management Fees (per vessel)         $ 10,194 $ 9,705 $ 9,562              
Restricted Cash and Cash Equivalents                     276,056      
Operating Leases, Rent Expense         1,339,389 1,185,843 744,875              
Year Of Lease Expiration   2013 2018                      
Adjusted Chartered Rate Value               17,000            
Adjusted Chartered Rate Value Minimum         17,000                  
Adjusted Chartered Rate Value Maximum         21,000                  
Daily Time Charter Rate On Vessels         18,000             18,300    
Profit Percentage Above Daily Time Charter Rate         50.00%                  
Korea Line Corporation Comprehensive Agreement Description         On October 14, 2011, following a vote by the interested creditors, the Korean court approved a Rehabilitation Plan, pursuant to which 37% of the Company's claim in respect of the period up to February 15, 2011 will be paid in cash installments from 2012 through 2021. The majority of the cash payment installments will be paid in the last five years, and the remaining 63% of the said claim will be converted to KLC stock. On July 2, 2012 the Company took possession of the KLC stock. The KLC stock is designated as Available for sale and is reported at fair value, with unrealized gains and losses recorded in shareholders' equity as a component of accumulated other comprehensive income.                  
Valuation Of Klc Stock Fair Value         197,509                  
Allowance for Loan and Lease Losses, Provision for Loss, Net       6,586,900                    
Allowance for Loan and Lease Losses, Provision for Loss, Gross       1,811,320                    
Allowance for Loan and Lease Losses, Recoveries of Bad Debts       1,269,070                    
Allowance for Loan and Lease Losses, Write-offs       3,506,510                    
Hire Rate Payable (per day)                         13,500 13,750
Contract Receivable                 63,700,000          
Stock Issued During Period, Shares, Share-based Compensation, Forfeited                   1,224,094        
Contract Receivable, Due in Next Twelve Months                 10,000,000          
Contract Receivable, Due after Year One                 53,700,000          
Reduction Of Long Term Receivable Due To Amendment                 5,500,000          
Stockholders' Equity Note, Stock Split                 1 to 15 ratio          
Convertion Of Long Term Receivable Percentage                 5.00%          
Assessed Preliminary Value                 $ 32,000,000          
Commitments And Contingencies Agreement Description On July 28, 2011, the Company entered into an agreement to charter-in a 37,000 dwt newbuilding Japanese vessel that is expected to be delivered between May and October 2014 for seven years with an option for additional one year.