Note 6 - Derivative Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2017

Notes Tables

Schedule of Other Derivatives Not Designated as Hedging Instruments, Statements of Financial Performance and Financial Position, Location [Table Text Block]

Derivatives not designated as hedging instruments	Location of (gain)/loss recognized	Amount of (gain)/loss
		For the Three Months Ended					For the Six Months Ended
		June 30, 2017			June 30, 2016		June 30, 2017			June 30, 2016
FFAs	Other expense	$	(1,049,363	)	$	300,785	$	(788,715	)	$	300,785
Bunker Swaps	Other expense		(42,859	)		—		3,052			—
Total		$	(1,092,222	)	$	300,785	$	(785,663	)	$	300,785

Derivatives no t designated as hedging instruments	Balance Sheet location	Fair value of Derivatives
		June 30, 2017		December 31, 2016
FFAs	Other current assets	$	725,850		—
Bunker Swaps	Other current assets		10,759		—
Total		$	736,609		—