Top Ships (TOPS) 6-K 9 Sep 21 2021 Q2 Current report (foreign) Financial data

Document And Entity Information

Document And Entity Information	6 Months Ended
	Jun. 30, 2021
Document Information [Line Items]
Entity Central Index Key	0001296484
Entity Registrant Name	TOP SHIPS INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2021
Document Type	6-K
Document Period End Date	Jun. 30, 2021
Entity File Number	001-37889
Entity Address, Address Line One	1 Vas. Sofias & Meg.
Entity Address, Postal Zip Code	151 24
Entity Address, City or Town	Athens
Entity Address, Country	GR

Unaudited Interim Condensed Con

Unaudited Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
CURRENT ASSETS:
Cash and cash equivalents	$ 8,393	$ 19,328
Trade accounts receivable	57	0
Prepayments and other	653	904
Inventories	671	514
Vessels held for sale (Note 4c)	25,887	24,340
Total current assets	35,661	45,086
FIXED ASSETS:
Advances for vessels under construction (Note 4a)	3,200	31,654
Vessels, net (Note 4b)	232,552	136,292
Right of use assets from operating leases (Note 6)	41,280	45,222
Other fixed assets, net	539	548
Total fixed assets	277,571	213,716
OTHER NON CURRENT ASSETS:
Restricted cash (Note 7)	4,000	4,000
Investments in unconsolidated joint ventures	25,426	28,230
Investments in affiliates (Note 1)	8,425	0
Deposit asset	2,000	2,000
Total other non-current assets	39,851	34,230
Total assets	353,083	293,032
CURRENT LIABILITIES:
Current portion of long-term debt (Note 7)	10,061	5,324
Debt related to vessels held for sale (Note 7)	19,314	0
Due to related parties (Note 5)	6,189	5,159
Accounts payable	2,535	2,544
Accrued liabilities	1,382	959
Unearned revenue	3,976	2,074
Current portion of derivative financial instruments (Note 11)	0	66
Current portion of Operating lease liabilities (Note 6)	9,601	9,288
Total current liabilities	53,058	25,414
NON-CURRENT LIABILITIES:
Non-current portion of long term debt (Note 7)	145,711	99,295
Non-current portion of Operating lease liabilities (Note 6)	28,864	33,805
Other non-current liabilities	275	300
Total non-current liabilities	174,850	133,400
Total liabilities	227,908	158,814
MEZZANINE EQUITY:
Preferred stock; 11,264 Series E Shares issued and outstanding at December 31, 2020 and June 30, 2021 with $0.01 par value (Note 12)	13,517	13,517
STOCKHOLDERS’ EQUITY:
Preferred stock, $0.01 par value; 20,000,000 shares authorized; of which 100,000 Series D shares were outstanding at December 31, 2020 and June 30, 2021	1	1
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 39,831,972 shares issued and outstanding at December 31, 2020 and June 30, 2021	398	398
Additional paid-in capital	454,947	465,672
Accumulated deficit	(343,688)	(345,370)
Total stockholders’ equity	111,658	120,701
Total liabilities, mezzanine equity and stockholders’ equity	353,083	293,032
Series E Preferred Stock [Member]
MEZZANINE EQUITY:
Preferred stock; 11,264 Series E Shares issued and outstanding at December 31, 2020 and June 30, 2021 with $0.01 par value (Note 12)	$ 13,517	$ 13,517

Unaudited Interim Condensed C_2

Unaudited Interim Condensed Consolidated Balance Sheets (Parentheticals) - $ / shares	Jun. 30, 2021	Dec. 31, 2020
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	20,000,000	20,000,000
Common stock, par value (in dollars per share)		$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	39,831,972	39,831,972
Common stock, shares outstanding (in shares)	39,831,972	39,831,972
Series E Preferred Stock [Member]
Preferred stock, series E shares, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, series E shares, issued (in shares)	11,264	11,264
Preferred stock, series E shares, outstanding (in shares)	11,264	11,264
Series D Preferred Stock [Member]
Preferred stock, shares outstanding (in shares)	100,000	100,000

Unaudited Interim Condensed C_3

Unaudited Interim Condensed Consolidated Statements of Comprehensive Loss / Income - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
REVENUES:
Total revenues	$ 25,310	$ 32,594
EXPENSES:
Voyage expenses	608	1,209
Operating lease expenses	5,378	0
Other vessel operating expenses	7,919	11,218
Vessel depreciation	3,339	7,172
Management fees-related parties (Note 5)	1,661	4,573
Dry-docking costs	26	356
Gain on sale of vessels	0	(5,291)
Other operating loss	0	4,050
Impairment on vessels (Note 4c)	1,160	0
General and administrative expenses	963	972
Operating income	4,256	8,335
OTHER INCOME (EXPENSES):
Interest and finance costs	(2,837)	(10,551)
(Loss)/ gain on derivative financial instruments	66	(849)
Equity gains in unconsolidated joint ventures	197	168
Interest income	0	29
Total other expenses, net	(2,574)	(11,203)
(Loss) / Net Income	1,682	(2,868)
Less: Deemed dividend for beneficial conversion feature of Series E Shares	0	(1,067)
Less: Deemed dividend equivalents on Series E Shares related to redemption value	0	(3,099)
Less: Dividends of Series E Shares (Note 5)	(915)	(932)
Net (loss) / income and comprehensive (loss) / income attributable to common shareholders	$ 767	$ (7,966)
(Loss) / Earnings per common share, basic and diluted (Note 10) (in dollars per share)	$ 0.02	$ (1.09)
Weighted average common shares outstanding, basic and diluted (in shares)	39,831,972	7,302,633
Time Charter Contracts [Member]
REVENUES:
Total revenues	$ 25,310	$ 32,594

Unaudited Interim Condensed C_4

Unaudited Interim Condensed Consolidated Statements of Mezzanine and Stockholders' Equity - USD ($) $ in Thousands	Series E Convertible Preferred Stock [Member]Mezzanine Equity [Member]	Series E Convertible Preferred Stock [Member]Additional Paid-in Capital [Member]	Series E Convertible Preferred Stock [Member]	Mezzanine Equity [Member]	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	AOCI Attributable to Parent [Member]	Total
Balance (in shares) at Dec. 31, 2019				15,724	100,000	347,813
Balance at Dec. 31, 2019				$ 18,083	$ 1	$ 3	$ 411,583	$ (322,552)	$ (1,361)	$ 87,674
Net Income (loss)								(2,868)		(2,868)
Stock-based compensation							(17)			(17)
Issuance of common stock pursuant to equity offerings (in shares)						33,071,356
Issuance of common stock pursuant to equity offerings						$ 331	105,996			106,327
Cashless exercises of Class A Warrants (in shares)						67,200
Cashless exercises of Class A Warrants						$ 1	(1)			0
Issuance of Series E Shares (in shares)	14,350
Issuance of Series E Shares	$ 14,350	$ 0	$ 0
Deemed dividend equivalents on Series E Shares related to redemption value				$ 3,099			(3,099)			(3,099)
Redemptions of Series E Shares (in shares)				(21,364)
Redemptions of Series E Shares				$ (24,569)			0			0
Reversal of costs related to equity offerings							235			235
Excess of consideration over carrying value of acquired assets							(62,000)			(62,000)
Dividends of Series E shares (in shares)				2,554
Dividends of Series E shares				$ 2,554			932			932
Dividends of Series E shares				(2,554)			(932)			(932)
Beneficial conversion feature related to the issuance of Series E Shares				(1,067)			1,067			1,067
Deemed dividend related to beneficial conversion feature of Series E Shares				$ 1,067			(1,067)			(1,067)
Other comprehensive loss									1,361	1,361
(Loss) / Net Income								(2,868)		(2,868)
Balance (in shares) at Jun. 30, 2020				11,264	100,000	33,486,369
Balance at Jun. 30, 2020				$ 13,517	$ 1	$ 335	451,765	(325,420)	$ 0	126,681
Balance (in shares) at Dec. 31, 2020				11,264	100,000	39,831,972
Balance at Dec. 31, 2020				$ 13,517	$ 1	$ 398	465,672	(345,370)		120,701
Net Income (loss)								1,682		1,682
Stock-based compensation							(17)			(17)
Excess of consideration over carrying value of acquired assets							(9,793)			(9,793)
(Loss) / Net Income								1,682		1,682
Dividends of Series E shares (Note 5)							(915)			(915)
Balance (in shares) at Jun. 30, 2021				11,264	100,000	39,831,972
Balance at Jun. 30, 2021				$ 13,517	$ 1	$ 398	$ 454,947	$ (343,688)		$ 111,658

Unaudited Interim Condensed C_5

Unaudited Interim Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Net Cash (used in) / provided by Operating Activities	$ 9,347	$ (278)
Cash Flows from Investing Activities:
Advances for vessels under construction	(98,257)	(90,927)
Net proceeds from sale / exchange of vessels (Note 1)	10,000	109,624
Investments in affiliates	(4,599)	0
Net fixed assets sales	0	35
Net Cash provided by / (used in) Investing Activities	(90,830)	11,287
Cash Flows from Financing Activities:
Proceeds from debt (Note 7)	74,800	60,200
Principal payments of debt (Note 7)	(3,418)	(9,484)
Prepayment of debt	0	(81,738)
Consideration paid in excess of purchase price over book value of vessels	0	(60,850)
Proceeds from equity offerings	0	113,795
Equity offerings costs	0	(7,489)
Redemptions of Series E Shares	0	(24,569)
Derivative financial instruments termination payments	0	(1,379)
Payment of financing costs	(834)	(1,155)
Net Cash (used in) / provided by Financing Activities	70,548	(12,669)
Net decrease in cash and cash equivalents and restricted cash	(10,935)	(1,660)
Cash and cash equivalents and restricted cash at beginning of year	23,328	13,271
Cash and cash equivalents and restricted cash at end of the period	12,393	11,611
Cash breakdown
Cash and cash equivalents	8,393	5,611
Restricted cash, non-current	4,000	6,000
SUPPLEMENTAL CASH FLOW INFORMATION
Capital expenditures included in Accounts payable/ Accrued liabilities/ Due to related parties	333	21
Capitalized fees relating to Investments in unconsolidated Joint Ventures / Affiliates included in Due to Related Parties	702	453
Beneficial conversion feature of Series E Shares	0	1,067
Interest paid net of capitalized interest	3,588	9,794
Finance fees included in Accounts payable/Accrued liabilities/Due to related parties	184	558
Dividends of Series E Shares included in Due to Related Parties (Note 5)	1,779	0
Offering expenses included in liabilities	0	364
Settlement of Excess consideration over acquired assets and capital expenditures with issuances of Series E Shares	0	14,350
Settlement of Dividends with issuances of Series E Shares	0	2,554
Reversal of equity offering costs not payable	0	(235)
Unpaid Excess of consideration over carrying value of acquired assets included in Due to Related Parties	0	1,150
Deemed dividend equivalents on Series E Shares related to redemption value	0	2,253
Carrying value of net assets of companies acquired	3,131	0
Settlement of related party payables	1,150	0
The 2017 Joint Venture [Member]
Cash Flows from Investing Activities:
Net proceeds from the sale of Investments in unconsolidated joint ventures (2017 Joint Venture)	0	19,555
The 2020 Joint Venture [Member]
Cash Flows from Investing Activities:
Investments in unconsolidated joint ventures (2020 Joint Venture)	0	(27,000)
Returns of investments in unconsolidated joint ventures (2020 Joint Venture)	$ 2,026	$ 0

Note 1 - Basis of Presentation

Note 1 - Basis of Presentation and General Information	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Organization, Consolidation and Presentation of Financial Statements Disclosure [Text Block]	1. Basis of Presentation and General Information: The accompanying unaudited interim condensed consolidated financial statements include the accounts of Top Ships Inc. and its wholly owned subsidiaries (collectively the “Company”). Ocean Holdings Inc. was formed on January 10, 2000, May 2004 December 2007, As of June 30, 2021, not 100% Companies Date of Incorporation Country of Incorporation Activity Top Tanker Management Inc. May 2004 Marshall Islands Management company Wholly owned Shipowning Companies ( SPC ) with vessels in operation during period ended June 30, 2021 Date of Incorporation Country of Incorporation Vessel Delivery Date 1 Monte Carlo Lax Shipping Company Limited May 2013 Marshall Islands M/T Nord Valiant August 2016 2 PCH Dreaming Inc. January 2018 Marshall Islands M/T Eco Marina Del Ray March 2019 3 South California Inc. January 2018 Marshall Islands M/T Eco Bel Air April 2019 ( 2020 4 Malibu Warrior Inc. January 2018 Marshall Islands M/T Eco Beverly Hills May 2019 ( 2020 5 Santa Catalina Inc. December 2018 Marshall Islands M/T Eco Los Angeles February 2020 6 Santa Monica Marine Inc. December 2018 Marshall Islands M/T Eco City of Angels February 2020 7 Roman Empire Inc. February, 2020 Marshall Islands Eco West Coast March 2021 8 Athenean Empire Inc. February, 2020 Marshall Islands Eco Malibu May 2021 Wholly owned SPCs with vessels under construction during period ended June 30, 2021 Date of Incorporation Country of Incorporation Vessel Scheduled delivery date 1 Eco Oceano Ca Inc. December, 2020 Marshall Islands Eco Oceano Ca (Hull No. 871 February 2022 As of June 30, 2021, SPC Date of Incorporation Country of Incorporation Vessel Built Date 1 California 19 May 2019 Marshall Islands M/T Eco Yosemite Park March 2020 2 California 20 May 2019 Marshall Islands M/T Eco Joshua Park March 2020 As of June 30, 2021, SPC Date of Incorporation Country of Incorporation Vessel Scheduled delivery date 1 Julius Caesar Inc. May 2020 Marshall Islands Julius Caesar (Hull No. 3213 Jan 2022 2 Legio X December 2020 Marshall Islands Legio X No. 3214 Feb 2022 The accompanying unaudited interim condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Accordingly, they do not 20 December 31, 2020, April 23, 2021. These unaudited interim condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Company’s financial position, results of operations and cash flows for the periods presented. Operating results for the six June 30, 2021 not December 31, 2021. On March 11, 2020, 19” June 30, 2021 19 The extent to which COVID- 19 may On January 6, 2021 three No 2789 No 2790 No 2791 ● $10,000 in cash. ● 100% ownership in a Marshall Islands company that is a party to a shipbuilding contract for a high specification scrubber fitted Suezmax Tanker currently under construction at Hyundai Samho shipyard with expected delivery in February 2022 ( No 871 five two ● 35% ownership in one January 2022 ( No. 3213 three two ● 35% ownership in one February 2022 ( X No. 3214 three two ● A settlement of $1,150 in related party payables to the Buyer. The Buyer remains the guarantor on the shipbuilding contracts towards the shipyard and in addition, the Buyer provided the Company with an option for a credit line up to 10% of the total shipbuilding cost at market terms, to be negotiated when the option is exercised, amounting to $23,815. The transaction was approved by a special committee composed of independent members of the Company's board of directors, (the “Transaction Committee”). The Transaction Committee obtained a fairness opinion relating to this transaction from an independent financial advisor. The Company accounted for the abovementioned acquisitions as a transfer of assets between entities under common control and has recognized the vessels at their historical carrying amounts at the date of transfer. The Company consolidates the 100% acquired shipowning company (M/T Eco Oceano Ca - Hull No 871 No. 3213 X No. 3214 The amount of the consideration exchanged in excess of the historical carrying value of the net assets acquired in the six June 30, 2021 Carrying value of net assets of companies sold 24,074 Less: Carrying value of net assets of companies acquired (3,131 ) Less: Consideration received in cash (10,000 ) Less: Settlement of related party payables (1,150 ) Excess of consideration over acquired assets 9,793

Note 2 - Significant Accounting

Note 2 - Significant Accounting Policies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Significant Accounting Policies [Text Block]	2. Significant Accounting Policies: A discussion of the Company's significant accounting policies can be found in the Company's annual financial statements for the fiscal year ended December 31, 2020 20 April 23, 2021. no six June 30, 2021. Recent Accounting Pronouncements: There are no

Note 3 - Going Concern

Note 3 - Going Concern	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Going Concern [Text Block]	3. Going Concern: At June 30, 2021, six June 30, 2021 June 30, 2021, No. 871 first 2022 1 As of September 8, 13, 2021, No. 3213 X No. 3214 13 $107,709 13 Period Contractual Commitments July 1 st 44,500 January 1 st st 172,793 Total 217,293 In addition, the capital commitments noted above are non-recourse to the Company as the commitments are made by wholly owned subsidiaries whose performance is guaranteed by Central Mare Inc, a related party affiliated with the family of Mr. Evangelos J. Pistiolis. $6,015 of the amount payable in the last six 2021 may twelve

Note 4(a) - Advances for Vessel

Note 4(a) - Advances for Vessels Under Construction	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Advances for Vessels Acquisition Under Construction [Text Block]	4.a Advances for vessels under construction: Advances for vessels under construction comprise: Advances for vessels under construction Balance, December 31, 2020 31,654 — Advances paid 95,841 — Capitalized expenses 2,351 — Transferred to Vessels, net (126,646) Balance, June 30, 2021 3,200 On January 6, 2021 No 2789 No 2790 No 2791 1 On March 26 May 11, 2021

Note 4(b) - Vessels, Net

Note 4(b) - Vessels, Net	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	4.b Vessels, net: The balances in the accompanying unaudited interim condensed consolidated balance sheets are analyzed as follows: Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2020 146,345 (10,053 ) 136,292 — Transferred from advances for vessels under construction 126,646 - 126,646 — Impairment (6,644 ) 5,484 (1,160 ) — Transferred to Vessels held for sale (25,887 ) - (25,887 ) — Depreciation - (3,339 ) (3,339 ) Balance, June 30, 2021 240,460 (7,908 ) 232,552 The Company's vessel’s titles have been transferred to their respective financing banks under each respective vessel’s sale and leaseback agreement as a security, in the case of vessels sold and leased back and in the case of vessels financed via bank loans the respective vessels have been mortgaged as security under each loan facility.

Note 4(c) - Vessels Held for Sa

Note 4(c) - Vessels Held for Sale	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Assets Held for Sale [Text Block]	4.c Vessels held for sale: On April 20, 2021 not June 30, 2021 September 1, 2021 third

Note 5 - Transactions With Rela

Note 5 - Transactions With Related Parties	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Related Party Transactions Disclosure [Text Block]	5. Transactions with Related Parties: (a) Central Mare Executive Officers and Other Personnel Agreements: September 1, 2010, The fees charged by Central Mare for the six June 30, 2020 2021 Six Months Ended June 30, 2020 2021 Presented in: Executive officers and other personnel expenses 180 180 General and administrative expenses - Statements of comprehensive (loss) / income Amortization of awarded shares (17 ) (17 ) Management fees - related parties - Statements of comprehensive (loss) / income Total 163 163 (b) Central Shipping Inc ( CSI ) Letter Agreement and Management Agreements: January 1, 2019, The fees charged by and expenses relating to CSI for the six June 30, 2020 2021 Six Months Ended June 30, 2020 2021 Presented in: Management fees 31 99 Capitalized in Vessels, net / Advances for vessels under construction –Balance sheet 1,063 705 Management fees - related parties -Statements of comprehensive (loss) / income Supervision services fees 22 27 Capitalized in Vessels, net / Advances for vessels under construction –Balance sheet Superintendent fees 49 13 Vessel operating expenses -Statements of comprehensive (loss) / income 73 178 Capitalized in Vessels, net / Advances for vessels under construction –Balance sheet Accounting and reporting cost 150 180 Management fees - related parties -Statements of comprehensive (loss) / income Commission for sale and purchase of vessels 3,377 793 Management fees - related parties -Statements of comprehensive (loss) / income 1,123 - Gain from vessel sales -Statements of comprehensive (loss) / income 453 702 Capitalized in Investments in unconsolidated joint ventures (in 2020) and in Investments in affiliates (in 2021) –Balance sheet Commission on charter hire agreements 413 316 Voyage expenses - Statements of comprehensive (loss) / income Financing fees - 150 Net in Current and Non-current portions of long-term debt – Balance sheet Total 6,754 3,163 For the six June 30, 2020 2021, not (c) Vessel Acquisitions from affiliated entities: 1 13. (d) Dividends of Series E Shares to Family Trading Inc ( Family Trading ): June 30, 2021, January 1, 2021 June 30, 2021. December 31, 2020 June 30, 2021

Note 6 - Leases

Note 6 - Leases	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Operating Leases, Disclosure [Text Block]	6. Leases Future minimum operating lease payments: The Company's future minimum operating lease payments required to be made after June 30, 2021, Year ending December 31, Bareboat charter lease payments 2021 (remainder) 6,097 2022 12,084 2023 10,220 2024 10,038 2025 6,777 Total 45,216 Less imputed interest (6,751 ) Total Lease Liability 38,465 Presented as follows: Short-term lease liability 9,601 Long-term lease liability 28,864 The weighted average remaining lease term on our chartered-in contracts greater than 12 six June 30, 2021 12 six June 30, 2021. Lease arrangements, under which the Company acts as the lessor Charter agreements: As of June 30, 2021, two one one two two Furthermore , No 871 1 Future minimum time-charter receipts of the Company’s vessels in operation as of June 30, 2021, Year ending December 31, Time Charter receipts 2021 (remaining) 30,728 2022 48,830 2023 32,029 2024 8,851 Total 120,438 Future minimum time-charter receipts of the Company’s vessel June 30, 2021, Year ending December 31, Time Charter receipts 2022 9,962 2023 11,844 2024 11,877 2025 11,844 2026 11,844 2027 1,915 Total 59,286 In arriving at the minimum future charter revenues, an estimated 20 no no

Note 7 - Debt

Note 7 - Debt	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Debt Disclosure [Text Block]	7. Debt: Details of the Company’s credit facilities are discussed in Note 8 December 31, 2020 six June 30, 2021 Bank / Vessel(s) December 31, June 30, 2020 2021 Total long term debt: ABN Bank Facility (M/T Eco West Coast) - 36,185 Alpha Bank Facility (M/T Eco Malibu) - 38,000 BoComm Leasing Facility (M/T Nord Valiant) 20,227 - Cargill Facility (M/T Eco Marina Del Ray) 29,116 28,174 AVIC Facility (M/T Eco Los Angeles and M/T Eco City of Angels) 57,656 56,199 Total long term debt 106,999 158,558 Less: Deferred finance fees (2,380 ) (2,786 ) Total long term debt net of deferred finance fees 104,619 155,772 Presented: Current portion of long term debt 5,324 10,061 Long term debt 99,295 145,711 Debt related to Vessels held for sale: BoComm Leasing Facility (M/T Nord Valiant) - 19,653 Less: Deferred finance fees - (339 ) Debt related to Vessels held for sale net of deferred finance fees - 19,314 Total Debt net of deferred finance fees 104,619 175,086 As of June 30, 2021 one As of June 30, 2021, June 30, 2021 June 30, 2021, 2 ABN Facility On March 18, 2021, No 865 24 June 2021, The facility contains various covenants, including (i) an asset cover ratio of 125%, (ii) a ratio of total net debt to the aggregate market value of the Company’s fleet, current or future, of no may not 50.1% The facility is secured as follows: • First priority mortgage over M/T Eco West Coast; • Assignment of insurance and earnings of the mortgaged vessel; • Specific assignment of any time charters with duration of more than 12 • Corporate guarantee of the Company; • Pledge of the shares of the shipowning subsidiary; • Pledge over the earnings account of the vessel. The facility bears interest at LIBOR plus a margin of 2.50%. Alpha Bank Facility On May 6, 2021, No 866 12 12 three The facility contains various covenants, including (i) an asset cover ratio of 125%, (ii) a ratio of total net debt to the aggregate market value of the Company’s fleet, current or future, of no may not 50.1% The facility is secured as follows: • First priority mortgage over M/T Eco Malibu; • Assignment of insurance and earnings of the mortgaged vessel; • Specific assignment of any time charters with duration of more than 12 • Corporate guarantee of the Company; • Pledge of the shares of the shipowning subsidiary; • Pledge over the earnings account of the vessel. The facility bears interest at LIBOR plus a margin of 3.00%.

Note 8 - Commitments and Contin

Note 8 - Commitments and Contingencies	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	8. Commitments and Contingencies: Legal proceedings: Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. As part of the normal course of operations, the Company's customers may On August 1, 2017, February 2017 August 2017. September 26, 2018 October 5, 2018 two August 1, 2017. February 2019. not Other than the cases mentioned above, the Company is not Capital Expenditures under the Company s Newbuilding program: On January 6, 2021 1 No. 871 six 2021 2022. As of September 8, 2021, six 2021 2022 No. 871 No. 3213 X No. 3214 Environmental Liabilities: The Company accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, management is not

Note 9 - Common Stock, Addition

Note 9 - Common Stock, Additional Paid-in Capital and Dividends	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Stockholders' Equity Note Disclosure [Text Block]	9. Common Stock, Additional Paid-In Capital and Dividends: A discussion of the Company's common stock, additional paid-in capital and dividends can be found in the Company's annual financial statements for the fiscal year ended December 31, 2020 20 April 23, 2021. Dividends: six June 30, 2020 2021.

Note 10 - Loss _ (Gain) Per Com

Note 10 - Loss / (Gain) Per Common Share	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Earnings Per Share [Text Block]	10. Loss / (Gain) Per Common Share: All shares issued are included in the Company's common stock and have equal rights to vote and participate in dividends and in undistributed earnings. For purposes of calculating diluted earnings per share for the six June 30, 2021, The components of the calculation of basic and diluted (loss) / earnings per share for the six June 30, 2020 2021 Six months ended June 30, 2020 2021 (Loss) / Net Income (2,868 ) 1,682 Less: Deemed dividend for beneficial conversion feature of Series E Shares (1,067 ) - Less: Deemed dividend equivalents on Series E Shares related to redemption value (3,099 ) - Less: Dividend of Series E Shares (932 ) (915 ) (Loss) / gain attributable to common shareholders (7,966 ) 767 (Loss) / Earnings per share: Weighted average common shares outstanding, basic 7,302,633 39,831,972 (Loss) / Earnings per share, basic and diluted (1.09 ) 0.02 For the period ended June 30, 2020 2021 June 30, 2021 not The following table summarizes the securities that were excluded from the diluted per share calculation because the effect of including these potential shares was antidilutive even though the exercise or conversion price could be less than the average market price of the common shares. Six months ended June 30, 2020 2021 Class B Warrants 480,000 - Series E Shares 811,855 11,982,979 Potentially dilutive securities 1,291,855 11,982,979 The Company used the treasury stock method to calculate the dilutive shares relating to a potential exercise of Class B Warrants and the if-converted method to calculate the dilutive shares relating to a potential conversion of Series E Shares weighted for the period the Series E Shares were outstanding. Pursuant to a standstill agreement (the “Standstill Agreement”), dated August 20, 2020, not August 20, 2021, six June 30, 2021

Note 11 - Fair Value of Financi

Note 11 - Fair Value of Financial Instruments and Derivative Instruments	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Financial Instruments Disclosure [Text Block]	11. Fair value of Financial Instruments and derivative instruments: The principal financial assets of the Company consist of cash on hand and at banks, restricted cash, deposit assets, prepaid expenses and other receivables. The principal financial liabilities of the Company consist of long term loans, accounts payable due to suppliers, amounts due to related parties and accrued liabilities. a) Interest rate risk: one June 30, 2021 not b) Credit risk: c) Fair value: The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash and cash equivalents and restricted cash are considered Level 1 The fair values of the variable interest long-term debt approximate the recorded values, due to their variable interest rates. The fair value of the fixed interest long-term debt is estimated using prevailing market rates as of the period end (see Note 7 June 30, 2021. 2 The Company follows the accounting guidance for Fair Value Measurements. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The guidance requires assets and liabilities carried at fair value to be classified and disclosed in one three Level 1: Level 2: Level 3: not Derivative Financial Instruments not Class B Warrants: On May 7, 2021 six June 30, 2021. Non-recurring fair value measurements Fair Value Measurement at Reporting Date Total Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) As of June 30, 2021 Vessels held for sale 25,887 - 25,887 - During the six June 30, 2021, six June 30, 2021. 2. The following table sets forth a summary of changes in fair value of the Company’s level 3 six June 30, 2021: Closing balance December 31, 2020 66 Change in fair value of warrants due to expiry, included in the unaudited interim condensed consolidated statements of comprehensive (loss) / income (66 ) Closing balance June 30, 2021 -

Note 12 - Mezzanine Equity

Note 12 - Mezzanine Equity	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Mezzanine Equity [Text Block]	12. Mezzanine Equity During the six June 30, 2021, not As of June 30, 2021, The Company presents the carrying value of the Series E Shares at their maximum redemption amount ($13,517).

Note 13 - Subsequent Events

Note 13 - Subsequent Events	6 Months Ended
	Jun. 30, 2021
Notes to Financial Statements
Subsequent Events [Text Block]	13. Subsequent Events On September 8, 2021 X 3 8 January 6, 2021, 1 The amount of finance will need to be repaid to the Seller within 36 On September 8, 2021, On September 1, 2021, third On July 28, 2021, No. 3213 X No. 3214 three not

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
New Accounting Pronouncements, Policy [Policy Text Block]	Recent Accounting Pronouncements: There are no

Note 1 - Basis of Presentatio_2

Note 1 - Basis of Presentation and General Information (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]	Carrying value of net assets of companies sold 24,074 Less: Carrying value of net assets of companies acquired (3,131 ) Less: Consideration received in cash (10,000 ) Less: Settlement of related party payables (1,150 ) Excess of consideration over acquired assets 9,793

Note 3 - Going Concern (Tables)

Note 3 - Going Concern (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Contractual Obligation, Fiscal Year Maturity [Table Text Block]	Period Contractual Commitments July 1 st 44,500 January 1 st st 172,793 Total 217,293

Note 4(a) - Advances for Vess_2

Note 4(a) - Advances for Vessels Under Construction (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Advances for Vessels Acquisition Under Construction [Table Text Block]	Advances for vessels under construction Balance, December 31, 2020 31,654 — Advances paid 95,841 — Capitalized expenses 2,351 — Transferred to Vessels, net (126,646) Balance, June 30, 2021 3,200

Note 4(b) - Vessels, Net (Table

Note 4(b) - Vessels, Net (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Property, Plant and Equipment [Table Text Block]	Vessel Cost Accumulated Depreciation Net Book Value Balance, December 31, 2020 146,345 (10,053 ) 136,292 — Transferred from advances for vessels under construction 126,646 - 126,646 — Impairment (6,644 ) 5,484 (1,160 ) — Transferred to Vessels held for sale (25,887 ) - (25,887 ) — Depreciation - (3,339 ) (3,339 ) Balance, June 30, 2021 240,460 (7,908 ) 232,552

Note 5 - Transactions With Re_2

Note 5 - Transactions With Related Parties (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Related Party Transactions [Table Text Block]	Six Months Ended June 30, 2020 2021 Presented in: Executive officers and other personnel expenses 180 180 General and administrative expenses - Statements of comprehensive (loss) / income Amortization of awarded shares (17 ) (17 ) Management fees - related parties - Statements of comprehensive (loss) / income Total 163 163 Six Months Ended June 30, 2020 2021 Presented in: Management fees 31 99 Capitalized in Vessels, net / Advances for vessels under construction –Balance sheet 1,063 705 Management fees - related parties -Statements of comprehensive (loss) / income Supervision services fees 22 27 Capitalized in Vessels, net / Advances for vessels under construction –Balance sheet Superintendent fees 49 13 Vessel operating expenses -Statements of comprehensive (loss) / income 73 178 Capitalized in Vessels, net / Advances for vessels under construction –Balance sheet Accounting and reporting cost 150 180 Management fees - related parties -Statements of comprehensive (loss) / income Commission for sale and purchase of vessels 3,377 793 Management fees - related parties -Statements of comprehensive (loss) / income 1,123 - Gain from vessel sales -Statements of comprehensive (loss) / income 453 702 Capitalized in Investments in unconsolidated joint ventures (in 2020) and in Investments in affiliates (in 2021) –Balance sheet Commission on charter hire agreements 413 316 Voyage expenses - Statements of comprehensive (loss) / income Financing fees - 150 Net in Current and Non-current portions of long-term debt – Balance sheet Total 6,754 3,163

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Lessee, Operating Lease, Liability, Maturity [Table Text Block]	Year ending December 31, Bareboat charter lease payments 2021 (remainder) 6,097 2022 12,084 2023 10,220 2024 10,038 2025 6,777 Total 45,216 Less imputed interest (6,751 ) Total Lease Liability 38,465 Presented as follows: Short-term lease liability 9,601 Long-term lease liability 28,864 Year ending December 31, Time Charter receipts 2021 (remaining) 30,728 2022 48,830 2023 32,029 2024 8,851 Total 120,438
Schedule of Future Minimum Time-Charter Receipts [Table Text Block]	Year ending December 31, Time Charter receipts 2022 9,962 2023 11,844 2024 11,877 2025 11,844 2026 11,844 2027 1,915 Total 59,286

Note 7 - Debt (Tables)

Note 7 - Debt (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Debt [Table Text Block]	Bank / Vessel(s) December 31, June 30, 2020 2021 Total long term debt: ABN Bank Facility (M/T Eco West Coast) - 36,185 Alpha Bank Facility (M/T Eco Malibu) - 38,000 BoComm Leasing Facility (M/T Nord Valiant) 20,227 - Cargill Facility (M/T Eco Marina Del Ray) 29,116 28,174 AVIC Facility (M/T Eco Los Angeles and M/T Eco City of Angels) 57,656 56,199 Total long term debt 106,999 158,558 Less: Deferred finance fees (2,380 ) (2,786 ) Total long term debt net of deferred finance fees 104,619 155,772 Presented: Current portion of long term debt 5,324 10,061 Long term debt 99,295 145,711 Debt related to Vessels held for sale: BoComm Leasing Facility (M/T Nord Valiant) - 19,653 Less: Deferred finance fees - (339 ) Debt related to Vessels held for sale net of deferred finance fees - 19,314 Total Debt net of deferred finance fees 104,619 175,086

Note 10 - Loss _ (Gain) Per C_2

Note 10 - Loss / (Gain) Per Common Share (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Six months ended June 30, 2020 2021 (Loss) / Net Income (2,868 ) 1,682 Less: Deemed dividend for beneficial conversion feature of Series E Shares (1,067 ) - Less: Deemed dividend equivalents on Series E Shares related to redemption value (3,099 ) - Less: Dividend of Series E Shares (932 ) (915 ) (Loss) / gain attributable to common shareholders (7,966 ) 767 (Loss) / Earnings per share: Weighted average common shares outstanding, basic 7,302,633 39,831,972 (Loss) / Earnings per share, basic and diluted (1.09 ) 0.02
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share [Table Text Block]	Six months ended June 30, 2020 2021 Class B Warrants 480,000 - Series E Shares 811,855 11,982,979 Potentially dilutive securities 1,291,855 11,982,979

Note 11 - Fair Value of Finan_2

Note 11 - Fair Value of Financial Instruments and Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2021
Notes Tables
Fair Value Measurements, Nonrecurring [Table Text Block]	Fair Value Measurement at Reporting Date Total Using Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Other Unobservable Inputs (Level 3) As of June 30, 2021 Vessels held for sale 25,887 - 25,887 -
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]	Closing balance December 31, 2020 66 Change in fair value of warrants due to expiry, included in the unaudited interim condensed consolidated statements of comprehensive (loss) / income (66 ) Closing balance June 30, 2021 -

Note 1 - Basis of Presentatio_3

Note 1 - Basis of Presentation and General Information (Details Textual) - USD ($)	Jan. 06, 2021	Mar. 11, 2020	Jun. 30, 2021	Jun. 30, 2020
Proceeds from Divestiture of Businesses			$ 10,000,000
Disposal Group, Including Discontinued Operation, Consideration, Payables Forgiven			1,150,000
Excess of Consideration Over Acquired Assets			$ (9,793,000)	$ (62,000,000)
M/T Eco Oceano Ca [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			100.00%
M/T Julius Caesar [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			35.00%
M/T Legio X Equestris [Member]
Noncash or Part Noncash Acquisition, Interest Acquired			35.00%
A Company Affiliated With Mr. Evangelos J. Pistiolis [Member]
Line of Credit Facility, Maximum Borrowing Capacity			$ 23,815,000
Three Shipowning Companies [Member]
Proceeds from Divestiture of Businesses	$ 10,000,000
Disposal Group, Including Discontinued Operation, Consideration, Payables Forgiven	$ 1,150,000
Disposal Group, Credit Line Option, Percentage of Shipbuilding Costs	10.00%
Line of Credit Facility, Maximum Borrowing Capacity	$ 23,815,000
Three Shipowning Companies [Member] | A Major Oil Company [Member]
Charter Rate Per Day	$ 36,000
Time Charters, Term, Additional Option (Year)	2 years
Charter Rate Per Day, Optional Year One	$ 39,000
Charter Rate Per Day, Optional Year Two	$ 41,500
Time Charters, Term (Year)	3 years
Three Shipowning Companies [Member] | A Major Oil Company 2 [Member]
Charter Rate Per Day	$ 35,750
Time Charters, Term, Additional Option (Year)	2 years
Charter Rate Per Day, Optional Year One	$ 39,000
Charter Rate Per Day, Optional Year Two	$ 41,500
Charter Term (Year)	3 years
Three Shipowning Companies [Member] | A Company Affiliated With Mr. Evangelos J. Pistiolis [Member]
Related Party Transaction Term (Year)	5 years
Charter Rate Per Day	$ 32,450
Time Charters, Term, Additional Option (Year)	2 years
Charter Rate Per Day, Optional Year One	$ 33,950
Charter Rate Per Day, Optional Year Two	$ 35,450
Three Shipowning Companies [Member] | Marshall Islands Company with Suexmax Tanker Contract [Member]
Noncash or Part Noncash Acquisition, Interest Acquired	100.00%
Three Shipowning Companies [Member] | Marshall Islands Company with VLCC Tanker Contract for Delivery January 2022 [Member]
Noncash or Part Noncash Acquisition, Interest Acquired	35.00%
Three Shipowning Companies [Member] | Marshall Islands Company with VLCC Tanker Contract for Delivery February 2022 [Member]
Noncash or Part Noncash Acquisition, Interest Acquired	35.00%
COVID 19 [Member]
Decrease in Revenues from Off-hire Days		$ 344,000
California 19 Inc. [Member]
Equity Method Investment, Ownership Percentage			50.00%
Julius Caesar Inc. [Member]
Equity Method Investment, Ownership Percentage			35.00%
California 20 Inc. [Member]
Equity Method Investment, Ownership Percentage			50.00%
Legio X Inc. [Member]
Equity Method Investment, Ownership Percentage			35.00%

Note 1 - Basis of Presentatio_4

Note 1 - Basis of Presentation and General Information - Excess of Consideration Over Acquired Assets (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Carrying value of net assets of companies sold	$ 24,074
Less: Carrying value of net assets of companies acquired	(3,131)
Less: Consideration received in cash	(10,000)
Less: Settlement of related party payables	(1,150)
Excess of consideration over acquired assets	$ 9,793	$ 62,000

Note 3 - Going Concern (Details

Note 3 - Going Concern (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Sep. 09, 2021	Sep. 08, 2021
Working Capital Surplus (Deficit)	$ 17,397
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Ending Balance	12,393
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	1,682	$ (2,868)
Net Cash Provided by (Used in) Operating Activities, Total	9,347	$ (278)
Contractual Obligation, Total	217,293
Contractual Obligation, to be Paid, Year One	172,793
Subsequent Event [Member]
Contractual Obligation, Total				$ 217,293
Contractual Obligation, Portion Payable in the Remainder of Fiscal Year, Amount That Has Been Settled			$ 6,015
Subsequent Event [Member] | Commitment Letter for a Senior Secured Loan Facility [Member]
Debt Instrument, Unused Borrowing Capacity, Amount				107,709
Subsequent Event [Member] | Line of Credit [Member]
Debt Instrument, Unused Borrowing Capacity, Amount				$ 41,615
Subsequent Event [Member] | Acquisition of VLCC Companies [Member]
Business Acquisition, Percentage of Voting Interests Acquired				65.00%
A Company Affiliated With Mr. Evangelos J. Pistiolis [Member]
Line of Credit Facility, Maximum Borrowing Capacity	23,815
Acquisition of Fleet [Member]
Contractual Obligation, Total	57,143
Contractual Obligation, to be Paid, Year One	$ 51,128

Note 3 - Going Concern - Contra

Note 3 - Going Concern - Contractual Commitments (Details) $ in Thousands	Jun. 30, 2021USD ($)
Contractual Obligation, to be Paid, Remainder of Fiscal Year	$ 44,500
Contractual Obligation, to be Paid, Year One	172,793
Total	$ 217,293

Note 4(a) - Advances for Vess_3

Note 4(a) - Advances for Vessels Under Construction - Advances for Vessels Acquisitions Under Construction (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Balance	$ 31,654
— Advances paid	95,841
— Capitalized expenses	2,351
— Transferred to Vessels, net	(126,646)
Balance	$ 3,200

Note 4(b) - Vessels, Net - Summ

Note 4(b) - Vessels, Net - Summary of Vessels (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Balance, Net Book Value	$ 213,716
— Transferred from advances for vessels under construction	126,646
— Transferred to Vessels held for sale	(25,887)
Depreciation	(3,339)	$ (7,172)
Balance, Net Book Value	277,571
Vessels [Member]
Balance, cost	146,345
Balance, Accumulated Depreciation	(10,053)
Balance, Net Book Value	136,292
— Impairment	(6,644)
— Impairment	5,484
— Impairment	(1,160)
Depreciation	(3,339)
Balance, cost	240,460
Balance, Accumulated Depreciation	(7,908)
Balance, Net Book Value	$ 232,552

Note 4(c) - Vessels Held for _2

Note 4(c) - Vessels Held for Sale (Details Textual) - USD ($) $ in Thousands	Sep. 01, 2021	Aug. 23, 2021	Jun. 30, 2021	Dec. 31, 2020
Assets Held-for-sale, Not Part of Disposal Group, Current, Total			$ 25,887	$ 24,340
M/T Nord Valiant [Member]
Impairment of Long-Lived Assets to be Disposed of			1,160
Assets Held-for-sale, Not Part of Disposal Group, Current, Total			$ 25,887
M/T Nord Valiant [Member] | Subsequent Event [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total	$ 26,350	$ 26,350

Note 5 - Transactions With Re_3

Note 5 - Transactions With Related Parties (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2020
Central Shipping Inc [Member] | Technical Management Fee [Member]
Related Party Transaction, Amounts of Transaction	$ 428	$ 350
Family Trading [Member] | Due to Related Parties [Member]
Dividends Payable	1,779		$ 864
Family Trading [Member] | Series E Preferred Stock [Member]
Dividends, Preferred Stock, Total	$ 915

Note 5 - Transactions With Re_4

Note 5 - Transactions With Related Parties - Fees Charged by Related Parties (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Central Mare [Member]
Related Party Transaction, Amounts of Transaction	$ 163	$ 163
Central Mare [Member] | Executive Officers and Other Personnel Expenses [Member] | General and Administrative Expense [Member]
Related Party Transaction, Amounts of Transaction	180	180
Central Mare [Member] | Amortization of Awarded Shares [Member] | Management Fees Related Party [Member]
Related Party Transaction, Amounts of Transaction	(17)	(17)
Central Shipping Monaco SAM [Member]
Related Party Transaction, Amounts of Transaction	3,163	6,754
Central Shipping Monaco SAM [Member] | Management Fees [Member] | Vessels, Net [Member]
Fees charged	99	31
Central Shipping Monaco SAM [Member] | Supervision Fee [Member] | Vessels, Net [Member]
Fees charged	27	22
Central Shipping Monaco SAM [Member] | Supervision Fee [Member] | Management Fees - Related Parties [Member]
Related Party Transaction, Amounts of Transaction	705	1,063
Central Shipping Monaco SAM [Member] | Superintendent Fees [Member] | Vessels, Net [Member]
Fees charged	178	73
Central Shipping Monaco SAM [Member] | Superintendent Fees [Member] | Vessel Operating Expenses [Member]
Related Party Transaction, Amounts of Transaction	13	49
Central Shipping Monaco SAM [Member] | Accounting and Reporting Cost [Member] | Management Fees - Related Parties [Member]
Related Party Transaction, Amounts of Transaction	180	150
Central Shipping Monaco SAM [Member] | Commission for Sale and Purchase of Vessels [Member]
Fees charged	702	453
Central Shipping Monaco SAM [Member] | Commission for Sale and Purchase of Vessels [Member] | Management Fees - Related Parties [Member]
Related Party Transaction, Amounts of Transaction	793	3,377
Central Shipping Monaco SAM [Member] | Commission for Sale and Purchase of Vessels [Member] | Gain From Vessel Sales [Member]
Related Party Transaction, Amounts of Transaction	0	1,123
Central Shipping Monaco SAM [Member] | Commissions on Charter Hire Agreements [Member] | Voyage Expenses [Member]
Related Party Transaction, Amounts of Transaction	316	413
Central Shipping Monaco SAM [Member] | Financing Fees [Member] | Long-term Debt [Member]
Financing fees	$ 150	$ 0

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)	Jun. 30, 2020USD ($)	Dec. 10, 2020
Operating Lease, Weighted Average Remaining Lease Term (Month)	53 months 6 days
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 25,310	$ 32,594
M/T Eco Beverly Hills and M/T Eco Bel Air [Member]
Lessee, Operating Lease, Discount Rate			6.72%
Operating Lease, Payments	6,064
M/T Eco Bel Air and M/T Eco Beverly Hills [Member]
Revenue from Contract with Customer, Excluding Assessed Tax, Total	$ 8,871
Number of Time Charters	2
M/T Nord Valiant [Member]
Number of Time Charters	1
M/T Eco Marina Del Ray [Member]
Number of Time Charters	1
M/T Eco West Coast and M/T Eco Malibu [Member]
Number of Time Charters	2
M/T Eco Los Angeles and M/T Eco City of Angels [Member]
Number of Time Charters	2

Note 6 - Leases - Future Minimu

Note 6 - Leases - Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Short-term lease liability	$ 9,601	$ 9,288
Long-term lease liability	28,864	$ 33,805
Bareboat Charter Lease Payments [Member]
2021 (remainder)	6,097
2022	12,084
2023	10,220
2024	10,038
2025	6,777
Total	45,216
Less imputed interest	(6,751)
Total Lease Liability	38,465
Short-term lease liability	9,601
Long-term lease liability	28,864
Time Charter Receipts [Member]
2021 (remainder)	30,728
2022	48,830
2023	32,029
2024	8,851
Total	$ 120,438

Note 6 - Leases - Future Mini_2

Note 6 - Leases - Future Minimum Time-charter Receipts (Details) $ in Thousands	Jun. 30, 2021USD ($)
2022	$ 9,962
2023	11,844
2024	11,877
2025	11,844
2026	11,844
2027	1,915
Total	$ 59,286

Note 7 - Debt (Details Textual)

Note 7 - Debt (Details Textual) - USD ($) $ in Thousands	May 06, 2021	Mar. 18, 2021	Jun. 30, 2021	Aug. 06, 2023	Aug. 06, 2022
ABN Bank [Member] | Eco West Coast [Member]
Line of Credit Facility, Maximum Borrowing Capacity		$ 36,800
Debt Instrument, Periodic Payment, Total		615
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid	$ 21,500	$ 22,040
Debt Instrument, Net Asset Cover Ratio		125.00%
Total Debt To Market Adjusted Total Assets Ratio Percentage	75.00%	75.00%
Minimum Free Liquidity, Per Collaterlized Vessel		$ 500
Debt Instrument, Covenant, Market Adjusted Total Assets Minus Total Liabilities, Minimum		$ 60,000
Debt Instrument, Net Asset Cover Ratio, Year Three	125.00%
Minimum Free Liquidity, Per Bareboated Charter-in Vessel	$ 500
ABN Bank [Member] | Eco West Coast [Member] | Forecast [Member]
Debt Instrument, Periodic Payment, Total				$ 625	$ 750
Nord/ LB Bank [Member]
Long-term Line of Credit, Total			$ 173,617
ABN Bank Facility [Member] | Eco Malibu [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 38,000
London Interbank Offered Rate (LIBOR) [Member] | ABN Bank [Member]
Debt Instrument, Basis Spread on Variable Rate			0.096%
London Interbank Offered Rate (LIBOR) [Member] | ABN Bank [Member] | Eco West Coast [Member]
Debt Instrument, Basis Spread on Variable Rate		2.50%	3.00%

Note 7 - Debt - Long-term Debt

Note 7 - Debt - Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Senior secured debt	$ 158,558	$ 106,999
Less: Deferred finance fees	(2,786)	(2,380)
Total long term debt net of deferred finance fees	155,772	104,619
Current portion of long term debt	10,061	5,324
Long term debt	145,711	99,295
Less: Deferred finance fees	(339)	0
Total Debt net of deferred finance fees	175,086	104,619
Debt Related to Vessels Held for Sale [Member]
Total long term debt net of deferred finance fees	19,314	0
ABN Bank [Member]
Senior secured debt	36,185	0
Alpha Bank Predelivery Facility [Member]
Senior secured debt	38,000	0
BoComm [Member]
Senior secured debt	0	20,227
Cargill International SA [Member]
Senior secured debt	28,174	29,116
Avic International Leasing Co., Ltd [Member]
Senior secured debt	56,199	57,656
BoComm Leasing [Member]
Senior secured debt	$ 19,653	$ 0

Note 8 - Commitments and Cont_2

Note 8 - Commitments and Contingencies (Details Textual) - USD ($) $ in Thousands	Sep. 08, 2021	Aug. 13, 2021	Jun. 30, 2021	Jan. 06, 2021
Contractual Obligation, Total			$ 217,293
Contractual Obligation, to be Paid, Remainder of Fiscal Year			44,500
Contractual Obligation, to be Paid, Year One			172,793
Subsequent Event [Member]
Contractual Obligation, Total	$ 217,293
M/T Eco Oceano Ca [Member]
Contractual Obligation, Total				$ 57,143
Contractual Obligation, to be Paid, Remainder of Fiscal Year			6,016
Contractual Obligation, to be Paid, Year One			$ 51,127
M/T Eco Oceano Ca [Member] | Subsequent Event [Member]
Contractual Obligation, Total		$ 51,127
VLCC Transaction [Member] | Subsequent Event [Member]
Contractual Obligation, Total		217,293
Contractual Obligation, to be Paid, Remainder of Fiscal Year		44,500
Contractual Obligation, to be Paid, Year One		172,793
M/T Julius Caesar [Member] | Subsequent Event [Member]
Contractual Obligation, Total		80,858
M/T Legio X Equestris [Member] | Subsequent Event [Member]
Contractual Obligation, Total		$ 85,308

Note 9 - Common Stock, Additi_2

Note 9 - Common Stock, Additional Paid-in Capital and Dividends (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Dividends, Common Stock, Total	$ 0	$ 0

Note 10 - Loss _ (Gain) Per C_3

Note 10 - Loss / (Gain) Per Common Share (Details Textual) - shares shares in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Weighted Average Number Diluted Shares Outstanding Adjustment, Total (in shares)	0	0

Note 10 - Loss _ (Gain) Per C_4

Note 10 - Loss / (Gain) Per Common Share - Calculation of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
(Loss) / Net Income	$ 1,682	$ (2,868)
Less: Deemed dividend for beneficial conversion feature of Series E Shares	0	(1,067)
Less: Deemed dividend equivalents on Series E Shares related to redemption value	0	(3,099)
Less: Dividend of Series E Shares	(915)	(932)
(Loss) / gain attributable to common shareholders	$ 767	$ (7,966)
Weighted average common shares outstanding, basic (in shares)	39,831,972	7,302,633
(Loss) / Earnings per share, basic and diluted (in dollars per share)	$ 0.02	$ (1.09)

Note 10 - Loss _ (Gain) Per C_5

Note 10 - Loss / (Gain) Per Common Share - Antidilutive Securities Excluded from the Diluted per Share Calculation (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Potentially dilutive securities (in shares)	11,982,979	1,291,855
Warrant [Member] | Class B Warrants [Member]
Potentially dilutive securities (in shares)	0	480,000
Series E Convertible Preferred Stock [Member]
Potentially dilutive securities (in shares)	11,982,979	811,855

Note 11 - Fair Value of Finan_3

Note 11 - Fair Value of Financial Instruments and Derivative Instruments (Details Textual) - USD ($) $ in Thousands	May 07, 2021	Jun. 30, 2021	Dec. 31, 2020
Assets Held-for-sale, Not Part of Disposal Group, Current, Total		$ 25,887	$ 24,340
Vessels [Member]
Assets Held-for-sale, Not Part of Disposal Group, Current, Total		27,047
Assets Held-for-sale, Long Lived, Fair Value Disclosure		25,887
Impairment of Long-Lived Assets to be Disposed of		$ 1,160
Class B Warrants [Member]
Class of Warrant or Right, Expired During Period (in shares)	4,200,000
Class of Warrant or Right, Expired, Number of Securities Called by Warrants or Rights (in shares)	168,000
Class of Warrant or Right, Exercised During Period (in shares)		0

Note 11 - Fair Value of Finan_4

Note 11 - Fair Value of Financial Instruments and Derivative Instruments - Fair Value of Non-recurring Financial Assets and Liabilities (Details) - Vessels [Member] $ in Thousands	Jun. 30, 2021USD ($)
Vessels held for sale	$ 25,887
Fair Value, Nonrecurring [Member]
Vessels held for sale	25,887
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 1 [Member]
Vessels held for sale	0
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Vessels held for sale	25,887
Fair Value, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Vessels held for sale	$ 0

Note 11 - Fair Value of Finan_5

Note 11 - Fair Value of Financial Instruments and Derivative Instruments - Changes in Fair Value of Level 3 Measurements (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Closing balance	$ 66
Change in fair value of warrants due to expiry, included in the unaudited interim condensed consolidated statements of comprehensive (loss) / income	(66)
Closing balance	$ 0

Note 12 - Mezzanine Equity (Det

Note 12 - Mezzanine Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Temporary Equity, Carrying Amount, Attributable to Parent	$ 13,517	$ 13,517
Series E Preferred Stock [Member]
Stock Redeemed or Called During Period, Shares (in shares)	0
Preferred Stock, Convertible, Conversion Price (in dollars per share)	$ 1.30
Temporary Equity, Shares Outstanding (in shares)	11,264	11,264
Convertible Preferred Stock, Shares Issued upon Conversion (in shares)	8,664,615
Temporary Equity, Carrying Amount, Attributable to Parent	$ 13,517	$ 13,517
Preferred Stock, Shares Issued, Total (in shares)	0

Note 13 - Subsequent Events (De

Note 13 - Subsequent Events (Details Textual) $ in Thousands	Sep. 08, 2021USD ($)shares	Sep. 01, 2021USD ($)	Jul. 28, 2021USD ($)	Aug. 23, 2021USD ($)	Jan. 06, 2021
Maximum [Member]
Percentage of Shipbuilding Cost Per Vessel Available to Be Financed by Related Party					10.00%
Subsequent Event [Member] | Major International Financier [Member] | Commitment Letter for a Senior Secured Loan Facility [Member]
Debt Instrument, Face Amount			$ 107,709
Debt Instrument, Face Amount, Amount Allocated to Each Vessel			53,854
Debt Instrument, Periodic Payment, Total			$ 673
Debt Instrument, Commencement of Payment, Number of Months After Delivery of Each Vessel (Month)			3 months
Debt Instrument, Periodic Payment Terms, Balloon Payment to be Paid			$ 32,313
Subsequent Event [Member] | Major International Financier [Member] | Commitment Letter for a Senior Secured Loan Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument, Basis Spread on Variable Rate			2.60%
Subsequent Event [Member] | Major International Financier [Member] | Letter of Credit [Member]
Debt Instrument, Number of Consecutive Quarterly Installments			32
Subsequent Event [Member] | M/T Nord Valiant [Member]
Proceeds from Sale of Property, Plant, and Equipment, Total		$ 26,350		$ 26,350
Subsequent Event [Member] | Family Trading [Member] | Series E Preferred Stock [Member]
Stock Issued During Period, Shares, Acquisitions (in shares) | shares	2,188
Stock Issued During Period, Value, Acquisitions	$ 2,188
Subsequent Event [Member] | Maximum [Member]
Percentage of Shipbuilding Cost Per Vessel Available to Be Financed by Related Party	20.00%
Acquisition of VLCC Companies [Member] | Subsequent Event [Member]
Business Combination, Consideration Transferred, Total	$ 29,750
Business Acquisition, Percentage of Voting Interests Acquired	65.00%
Business Combination, Step Acquisition, Equity Interest in Acquiree, including Subsequent Acquisition, Percentage, Total	100.00%