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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2020
Jun. 30, 2019
Jun. 30, 2020
Jun. 30, 2019
Income Statement [Abstract]        
Revenues, net $ 57,391,784 $ 69,391,315 $ 131,770,103 $ 146,780,912
Voyage expenses 23,767,747 20,907,155 50,332,105 46,813,295
Vessel expenses 20,232,274 19,958,408 43,932,383 40,052,114
Charter hire expenses 4,719,367 11,179,480 10,760,306 22,671,386
Depreciation and amortization 12,503,191 9,761,322 24,969,674 19,168,430
General and administrative expenses 6,767,403 8,040,811 14,728,475 16,450,730
Operating lease impairment 352,368 0 352,368 0
Gain on sale of vessels 0 (966,802) 0 (5,073,349)
Total operating expenses 68,342,350 68,880,374 145,075,311 140,082,606
Operating (loss)/income (10,950,566) 510,941 (13,305,208) 6,698,306
Interest expense 8,737,079 6,733,156 17,928,894 13,495,159
Interest income (56,132) (393,164) (212,989) (827,482)
Loss on debt extinguishment 0 0 0 2,268,452
Realized and unrealized loss/(gain) on derivative instruments, net 859,814 163,105 (7,002,027) (2,275,150)
Total other expense, net 9,540,761 6,503,097 10,713,878 12,660,979
Net loss $ (20,491,327) $ (5,992,156) $ (24,019,086) $ (5,962,673)
Weighted average shares outstanding:        
Basic (in shares) 71,945,621 71,348,524 71,907,387 71,316,093
Diluted (in shares) 71,945,621 71,348,524 71,907,387 71,316,093
Per share amounts:        
Basic net loss (in usd per share) $ (0.28) $ (0.08) $ (0.33) $ (0.08)
Diluted net loss (in usd per share) $ (0.28) $ (0.08) $ (0.33) $ (0.08)