Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Net loss	$ (39,294,848)	$ (70,377,128)
Depreciation	56,129,127	56,388,161
Amortization of deferred drydocking costs	1,333,900	1,862,195
Amortization of deferred financing costs	6,271,128	4,428,572
Amortization of fair value below contract value of time charter acquired	(10,280,559)	(3,574,012)
Payment-in-kind interest on debt	21,724,749	8,101,953
Unrealized gain from forward freight agreements, net		246,110
Investment	(4,925,952)
Realized loss from investment	10,613,082
Gain on time charter agreement termination	(29,033,503)
Allowance for accounts receivable		5,351,609
Non-cash compensation expense	4,328,178	7,012,714
Drydocking expenditures	(2,378,717)	(1,085,541)
Accounts receivable	(1,840,197)	(5,185,340)
Other assets	(4,132,227)	2,089,633
Prepaid expenses	216,427	708,671
Inventories	(27,883)	269,672
Accounts payable	702,955	(1,169,678)
Accrued interest	(2,162,321)	(861,935)
Accrued expenses	(4,448,680)	505,953
Deferred revenue	(3,766,413)	(471,017)
Unearned revenue	628,764	(1,596,072)
Net cash provided by (used in) operating activities	(342,990)	2,644,520
Proceeds from sale of investment	2,199,243
Vessels improvements	(92,100)	(58,521)
Purchase of other fixed assets	(41,630)	(48,497)
Changes in restricted cash	209,813	394,362
Net cash provided by investing activities	2,275,326	287,344
Deferred financing costs	(48,000)	(9,382,792)
Cash used to settle net share equity awards	(78,535)	(65,138)
Net cash used in financing activities	(126,535)	(9,447,930)
Net increase / (decrease) in cash	1,805,801	(6,516,066)
Cash at beginning of period	18,119,968	25,075,203
Cash at end of period	$ 19,925,769	$ 18,559,137