Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net income/(loss)	$ 12,574,684	$ (43,796,685)	$ (223,522,435)
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Depreciation	32,364,359	29,354,017	35,556,911
Amortization of deferred drydocking costs	5,353,102	4,336,669	3,327,411
Amortization of debt discount and debt issuance costs	1,913,651	5,927,984	4,532,481
Loss on debt extinguishment	0	14,968,609	0
Amortization of fair value below contract value of time charter acquired	(681,898)	(716,783)	(661,253)
Payment-in-kind interest on Second Lien Facility	0	10,098,401	7,327,843
Cash paid towards Payment-in-kind interest on Second Lien Facility	0	(17,426,244)	0
(Gain)/loss on sale of vessels, net	(335,160)	(2,134,767)	101,860
Vessel impairment	0	0	129,027,862
Net unrealized loss/(gain) on fair value of derivatives	315,748	(55,675)	0
Fees paid on termination of time charter contract	0	(1,500,000)	0
Stock-based compensation expense	9,207,480	8,738,615	2,206,690
Drydocking expenditures	(8,323,191)	(2,579,111)	(3,688,711)
Changes in operating assets and liabilities:
Accounts receivable	(3,465,025)	(12,156,832)	1,986,820
Other current and non-current assets	(207,234)	(331,707)	(26,799)
Prepaid expenses	(1,625,113)	83,196	138,801
Inventories	(2,024,706)	(3,236,366)	(5,302,307)
Accounts payable	993,557	335,688	(1,081,317)
Accrued interest	(54,684)	1,761,443	(372,360)
Other accrued and non-current liabilities	(1,125,638)	(1,340,366)	528,563
Unearned revenue	590,531	(367,359)	4,485,630
Net cash provided by/(used in) operating activities	45,470,463	(10,037,273)	(45,434,310)
Cash flows from investing activities:
Purchase of vessels and vessel improvements	(41,404,328)	(174,400,746)	(19,860,401)
Advance for vessel purchase	(2,040,000)	(2,201,773)	(1,926,886)
Cash paid for scrubbers, ballast water treatment systems and other assets	(12,342,317)	0	0
Proceeds/(purchase) of short-term investment	4,500,000	(4,500,000)	0
Proceeds from sale of vessels	20,545,202	26,042,000	13,001,000
Purchase of other fixed assets	(272,067)	(189,120)	(560,348)
Net cash used in investing activities	(31,013,510)	(155,249,639)	(9,346,635)
Cash flows from financing activities:
Proceeds from common stock placement, net of issuance costs	0	96,030,003	85,700,535
Financing costs paid to lenders	0	(2,025,514)	0
Other financing costs	(2,465,037)	(3,886,104)	(3,086,947)
Cash received from exercise of stock options	4,865	0	0
Cash used to settle net share equity awards	(2,559,104)	(289,539)	(2,938)
Net cash provided by financing activities	7,380,724	145,021,846	106,334,650
Net increase/(decrease) in cash, cash equivalents and restricted cash	21,837,677	(20,265,066)	51,553,705
Cash, cash equivalents and restricted cash at beginning of year	56,325,961	76,591,027	25,037,322
Cash, cash equivalents and restricted cash at end of year	78,163,638	56,325,961	76,591,027
Supplemental cash flow information:
Non-cash accruals for Scrubbers and ballast water systems included in Accounts payable and Other accrued liabilities	5,801,867	0	0
Cash paid during the period for interest excluding payment of accumulated payment-in-kind interest on the Second Lien Facility paid on December 8, 2017 of $17.7 million.	23,884,565	11,589,192	10,257,766
Revolver Loan
Cash flows from financing activities:
Proceeds from lines of credit	0	0	15,158,500
Term Loan
Adjustments to reconcile net income/(loss) to net cash provided by/(used in) operating activities:
Amortization of debt discount and debt issuance costs	16,424,449	1,558,333	0
First Lien Facility
Cash flows from financing activities:
Repayments of lines of credit	0	(184,099,000)	(21,276,000)
First Lien Facility | Revolver Loan
Cash flows from financing activities:
Repayments of lines of credit	0	(25,000,000)	(30,158,500)
Second Lien Facility
Cash flows from financing activities:
Repayments of lines of credit	0	(60,000,000)	0
Second Lien Facility | Term Loan
Cash flows from financing activities:
Proceeds from lines of credit	0	0	60,000,000
Norwegian Bond Debt
Cash flows from financing activities:
Proceeds from long term debt	0	198,092,000	0
Repayments of long-term debt	(4,000,000)	0
New First Lien Facility
Cash flows from financing activities:
Repayments of lines of credit	(5,000,000)	0	0
Proceeds from long term debt	0	65,000,000
Ultraco Debt Facility
Cash flows from financing activities:
Proceeds from long term debt	$ 21,400,000	$ 61,200,000	$ 0