v3.26.1
Note 14 - Derivative Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2025
Notes Tables  
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value [Table Text Block]

Derivatives not designated as hedging instruments

Balance Sheet Location

 

December 31, 2024

   

December 31, 2025

 

Interest rate swap contract

Current assets - Derivatives

    120,675       -  

FFA contracts

Current assets – Derivatives

    -       84,510  

Interest rate swap contract

Long-term assets – Derivatives

    144,523       -  

Total derivatives assets

      265,198       84,510  
Derivative Instruments, Gain (Loss) [Table Text Block]

Derivatives not designated as hedging instruments

Location of gain / (loss) recognized

 

Year Ended December 31, 2023

   

Year Ended December 31, 2024

   

Year Ended December 31, 2025

 

Interest rate swap contracts – Change in fair value

Gain / (loss) on derivatives, net

    (1,923,681 )     86,340       (265,198 )

Interest rate swap contracts - Realized gain

Gain / (loss) on derivatives, net

    1,941,446       218,454       136,513  

FFA contracts – Change in fair value

Gain / (loss) on derivatives, net

    (1,328,550 )     1,287,720       84,510  

FFA contracts – Realized gain / (loss)

Gain / (loss) on derivatives, net

    2,529,160       (954,817 )     -  

Total gain / (loss) on derivatives, net

      1,218,375       637,697       (44,175 )