CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) (USD $)	6 Months Ended
	Jun. 30, 2011	Jun. 30, 2010
Cash flows from operating activities:
Net income (loss)	$ (7,248,559)	$ 15,585,556
Items included in net income not affecting cash flows:
Depreciation	33,055,698	27,806,738
Amortization of deferred drydocking costs	1,743,518	1,436,699
Amortization of deferred financing costs	1,918,410	1,332,743
Amortization of fair value below contract value of time charter acquired	(2,566,329)	(2,036,105)
Unrealized gain from forward freight agreements, net	308,578	0
Allowance for accounts receivable	6,586,900	0
Non-cash compensation expense	4,939,137	8,029,965
Drydocking expenditures	(1,284,121)	(1,257,783)
Changes in operating assets and liabilities:
Accounts receivable	(11,473,011)	(3,108,752)
Other assets	(635,571)	0
Prepaid expenses	931,577	1,436,657
Inventories	(5,339,055)	0
Accounts payable	2,373,987	96,531
Accrued interest	(2,339,449)	2,403,559
Accrued expenses	4,433,934	7,003,327
Deferred revenue	138,722	(654,577)
Unearned revenue	901,124	1,111,899
Net cash provided by operating activities	26,445,490	59,186,457
Cash flows from investing activities:
Vessels and vessel improvements and advances for vessel construction	(100,369,716)	(203,525,865)
Purchase of other fixed assets	(198,732)	(75,923)
Changes in restricted cash	(1,157,481)	0
Net cash used in investing activities	(101,725,929)	(203,601,788)
Cash flows from financing activities:
Bank borrowings	0	180,070,046
Changes in restricted cash	(1,500,000)	(4,500,000)
Cash used to settle net share equity awards	(1,210,177)	(365,408)
Net cash (used in) provided by financing activities	(2,710,177)	175,204,638
Net (decrease) increase in cash	(77,990,616)	30,789,307
Cash at Beginning of Period	129,121,680	71,344,773
Cash at End of Period	$ 51,131,064	$ 102,134,080