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Condensed Consolidated Statements of Operations - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2021
Jun. 30, 2020
Jun. 30, 2021
Jun. 30, 2020
Income Statement [Abstract]        
Revenues, net $ 129,850,586 $ 57,391,784 $ 226,422,754 $ 131,770,103
Voyage expenses 24,522,734 23,767,747 51,137,653 50,332,105
Vessel operating expenses 23,679,665 20,232,274 45,198,104 43,932,383
Charter hire expenses 6,169,544 4,719,367 14,649,764 10,760,306
Depreciation and amortization 13,110,597 12,503,191 25,616,983 24,969,674
General and administrative expenses 7,912,970 6,767,403 15,611,180 14,728,475
Other operating expense 559,128 0 1,520,244 0
Operating lease impairment 0 352,368 0 352,368
Total operating expenses 75,954,638 68,342,350 153,733,928 145,075,311
Operating income/(loss) 53,895,948 (10,950,566) 72,688,826 (13,305,208)
Interest expense 8,799,137 8,737,079 17,050,558 17,928,894
Interest income (15,529) (56,132) (33,298) (212,989)
Realized and unrealized loss/(gain) on derivative instruments, net 35,887,315 859,814 36,597,231 (7,002,027)
Total other expense, net 44,670,923 9,540,761 53,614,491 10,713,878
Net income/(loss) $ 9,225,025 $ (20,491,327) $ 19,074,335 $ (24,019,086)
Weighted average shares outstanding        
Basic (in shares) [1] 12,168,180 10,277,946 11,950,048 10,272,484
Diluted (in shares) [1] 12,397,156 10,277,946 12,081,772 10,272,484
Per share amounts        
Basic net loss (in usd per share) [1] $ 0.76 $ (1.99) $ 1.60 $ (2.34)
Diluted net loss (in usd per share) [1] $ 0.74 $ (1.99) $ 1.58 $ (2.34)
[1] Adjusted to give effect for the 1-for-7 Reverse Stock Split that became effective as of September 15, 2020, see Note 1.