Consolidated Statements of Cash Flows - USD ($)	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net loss	$ (43,796,685)	$ (223,522,435)	$ (148,296,965)
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Depreciation	29,354,017	35,556,911	41,044,397
Amortization of deferred drydocking costs	4,336,669	3,327,411	1,956,344
Amortization of debt discount and debt issuance costs	5,927,984	4,532,481	2,146,316
Loss on debt extinguishment	14,968,609	0	0
Amortization of fair value below contract value of time charter acquired	(716,783)	(661,253)	(948,741)
Payment-in-kind interest on debt	10,098,401	7,327,843	0
(Gain)/loss on sale of vessels, net	(2,134,767)	101,860	5,696,675
Vessel impairment	0	129,027,862	50,872,734
Realized loss from sale of investment	0	0	462,394
Net unrealized loss on fair value of derivatives	(55,675)	0	0
Fess paid on termination of time charter contract	(1,500,000)	0	0
Stock-based compensation expense	8,738,615	2,206,690	3,969,989
Drydocking expenditures	(2,579,111)	(3,688,711)	(11,141,561)
Changes in operating assets and liabilities:
Accounts receivable	(12,156,832)	1,986,820	7,654,773
Other current and non-current assets	(331,707)	(26,799)	4,691,158
Prepaid expenses	83,196	138,801	(19,833)
Inventories	(3,236,366)	(5,302,307)	174,867
Accounts payable	335,688	(1,081,317)	(3,447,224)
Accrued interest	1,761,443	(372,360)	(130,686)
Other accrued and non-current liabilities	(1,340,366)	528,563	2,357,787
Unearned revenue	(367,359)	4,485,630	(829,193)
Net cash provided by/(used in) operating activities	7,388,971	(45,434,310)	(43,786,769)
Cash flows from investing activities:
Vessel purchases and improvements	(174,400,746)	(19,860,401)	(1,747,099)
Advance for vessel purchase	(2,201,773)	(1,926,886)	0
Proceeds from sale of investment	0	0	7,838,346
Purchase of short-term investment	(4,500,000)	0	0
Proceeds from sale of vessels	26,042,000	13,001,000	4,235,542
Purchase of other fixed assets	(189,120)	(560,348)	0
Changes in restricted cash	0	66,244	(74,918)
Net cash provided by/(used in) investing activities	(155,249,639)	(9,280,391)	10,251,871
Cash flows from financing activities:
Proceeds from common stock placement, net of issuance costs	96,030,003	85,700,535	0
Financing costs paid to lenders	(2,025,514)	0	(500,000)
Other financing costs	(3,886,104)	(3,086,947)	0
Cash used to settle net share equity awards	(289,539)	(2,938)	(1,419,228)
Net cash provided by financing activities	127,595,602	106,334,650	18,455,772
Net increase/(decrease) in cash and cash equivalents	(20,265,066)	51,619,949	(15,079,126)
Cash and cash equivalents at beginning of period	76,516,110	24,896,161	39,975,287
Cash and cash equivalents at end of period	56,251,044	76,516,110	24,896,161
Supplemental cash flow information:
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.	11,589,192	10,257,766	9,911,793
Revolver Loan
Cash flows from financing activities:
Repayments of lines of credit	(25,000,000)	(30,158,500)	0
Proceeds from Revolver Loan facility under Exit Financing Facility	0	15,158,500	40,000,000
Term Loan
Adjustments to reconcile net loss to net cash provided by/(used in) operating activities:
Amortization of debt discount and debt issuance costs	1,558,333	0	0
Cash flows from financing activities:
Proceeds from Revolver Loan facility under Exit Financing Facility	0	60,000,000	0
First Lien Facility
Cash flows from financing activities:
Repayments of lines of credit	(184,099,000)	(21,276,000)	(19,625,000)
Second Lien Facility
Cash flows from financing activities:
Repayments of lines of credit	(77,426,244)	0	0
Norwegian Bond Debt
Cash flows from financing activities:
Proceeds from long term debt	198,092,000	0	0
New First Lien Facility
Cash flows from financing activities:
Proceeds from long term debt	65,000,000	0	0
Ultraco Debt Facility
Cash flows from financing activities:
Proceeds from long term debt	$ 61,200,000	$ 0	$ 0