Related Party Transactions (Tables)

12 Months Ended

Dec. 31, 2022

Amounts and notes payable to related parties consist of the following:


	December 31, 2021		Activity		December 31, 2022
Included in trade accounts receivable and voyage revenue on the consolidated balance sheets and statements of income, respectively:
Trade receivables due from King George Slag(i)	$	—	$	—	$	—

Included in accounts payable and accrued expenses on the consolidated balance sheets:
Trade payables due to Seamar (i)	$	2,847,910	$	(1,204,104)	$	1,643,806
Commissions payable (trade payables) (ii)	38,896		(38,896)		—

Included in current related party notes payable on the consolidated balance sheets:
Interest payable – 2011 Founders Note	242,852		(242,852)		—
Total current related party notes payable	$	242,852	$	(242,852)	$	—

i.Seamar Management S.A. ("Seamar") Seamar Management S.A. ("Seamar") is a joint venture of which the Company owns 51% at December 31, 2022 and 2021.

ii.Phoenix Bulk Carriers (Brasil) Intermediacoes Maritimas Ltda. - a wholly-owned company of a member of the Board of Directors