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Transactions with Related Parties (Tables)
 12 Months Ended
Dec. 31, 2021
Transactions with Related Parties [Abstract]  
Transactions with Related Parties
During the years ended December 31, 2019, 2020, and 2021, the Company incurred the following charges in connection with related party transactions, which are included in the accompanying consolidated statements of comprehensive income/ (loss):
 

  
Year ended
December 31,
2019
    
Year ended
December 31,
2020
    
Year ended
December 31,
2021
  
Management fees-related parties
                  
Management fees – Pavimar (a)
  
$
212,300
    
$
768,000
    
$
4,761,000
  
Management fees – Castor Ships (c)
    
—
      
162,500
      
1,983,750
  
                         
Included in Voyage expenses
                        
Charter hire commissions – Castor Ships (c)(d)
  
$
40,471
    
$
29,769
    
$
1,671,145
  
                         
Included in Interest and finance costs
                        
Interest expenses (b) – Thalassa
  
$
162,500
    
$
305,000
    
$
204,167
  
                         
Included in General and administrative expenses
                        
Administration fees  – Castor Ships (c)
  
$
—
    
$
400,000
    
$
1,200,000
  
                         
Included in Vessels’ cost
                        
Sale & purchase commission – Castor Ships (c)
  
$
—
    
$
138,600
    
$
3,406,400
  

As of December 31, 2020, and 2021, balances with related parties consisted of the following:
 
   
December 31,
2020
    
December 31,
2021
  
Assets:
            
Due from Pavimar (a) – current
  
$
1,559,132
    
$
—
  
Due from Pavimar (a) – non-current
     —       810,437  
Liabilities:
                
Due to Pavimar (a) – current
    —       3,909,885  
Related party debt (b) – Thalassa
  
$
5,000,000
    
$
—
  
Accrued loan interest (b) – Thalassa
    
405,000
      
—
  
Voyage commissions, management fees and other expenses due to Castor Ships (c)
    
1,941
      
597,684