Fixed Assets (Tables)

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property Plant and Equipment Schedule of Significant Acquisitions

The carrying amounts of these vessels, including unamortized drydocking costs, are as follows: 

	March 31,		December 31,
	2022		2021
	(unaudited)
m/v NORDIC ODYSSEY (1)	$	22,013,577	$	22,456,407
m/v NORDIC ORION (1)	22,644,443		23,057,114
m/v NORDIC OSHIMA (1)	25,282,336		25,612,412
m/v NORDIC OLYMPIC (1)	25,644,067		25,982,802
m/v NORDIC ODIN (1)	25,736,888		26,073,841
m/v NORDIC OASIS (1)	27,295,943		27,650,350
m/v NORDIC NULUUJAAK (2) (5)	38,591,766		38,949,402
m/v NORDIC QINNGUA (2) (5)	38,485,687		38,838,142
m/v NORDIC SANNGIJUQ (2) (5)	38,033,150		38,377,457
m/v NORDIC SIKU(2) (5)	38,430,562		38,776,359
m/v BULK ENDURANCE	22,900,240		23,069,545
m/v BULK COURAGEOUS (5)	16,206,507		16,356,730
m/v BULK CONCORD (5)	19,945,837		—
m/v BULK NEWPORT	11,265,188		11,566,639
m/v BULK FREEDOM	8,213,564		8,476,937
m/v BULK PRIDE	13,214,227		13,560,656
m/v BULK SPIRIT (5)	12,144,251		12,293,336
m/v BULK INDEPENDENCE	13,323,295		13,466,530
m/v BULK FRIENDSHIP (5)	14,311,411		14,526,423
m/v BULK VALOR	17,639,541		17,797,021
m/v BULK PROMISE	18,135,576		18,306,557
m/v BULK PANGAEA (3)	—		11,802,463
MISS NORA G PEARL (4)	2,603,219		2,714,931
	472,061,275		469,712,054
Other fixed assets, net	2,236,000		2,200,756
Total fixed assets, net	$	474,297,275	$	471,912,810
Right of Use Assets (5)
m/v BULK PODS	$	13,214,603	$	12,661,804
m/v BULK DESTINY	20,563,538		20,074,619
m/v BULK TRIDENT	12,099,155		12,459,336
	$	45,877,296	$	45,195,759

(1) Vessels are owned by NBHC, a consolidated joint venture in which the Company has a two-third ownership interest at March 31, 2022 and December 31, 2021, respectively.

(2) Vessels are owned by NBP, a consolidated joint venture in which the Company has a 50% ownership interest at March 31, 2022 and December 31, 2021.

(3) On April 20, 2022, the Company signed a memorandum of agreement to sell the m/v Bulk Pangaea for $8.6 million after brokerage commissions. The Company recorded an impairment charge of $3.0 million, and recorded the carrying amount of the vessel as vessels held for sale in its Consolidated Balance Sheet as of March 31, 2022.

(4) Barge is owned by a 50% owned consolidated subsidiary.

(5) Refer to Note 7, "Commitments and Contingencies," of our Financial Statements for additional information related to the vessels under finance lease.