Document And Entity Information
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12 Months Ended |
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Dec. 31, 2012
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Document and Entity Information | |
Document Type | 20-F |
Document Period End Date | Dec. 31, 2012 |
Amendment Flag | false |
Entity Registrant Name | Capital Product Partners L.P. |
Entity Central Index Key | 0001392326 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Entity Well Known Seasoned Issuer | No |
Document Fiscal Year Focus | 2012 |
Document Fiscal Period Focus | FY |
General Partner
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Document and Entity Information | |
Entity's units outstanding | 1,415,757 |
Common Limited Partner
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Document and Entity Information | |
Entity's units outstanding | 69,372,077 |
Preferred Limited Partner
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Document and Entity Information | |
Entity's units outstanding | 15,555,554 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Details
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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X | ||||||||||
- Definition
The limited partners' preferred ownership interests. No definition available.
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X | ||||||||||
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
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- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount due from customers or clients, more than one year from the balance sheet date, for goods or services that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets, excluding property, plant, and equipment and other property and investments, that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Alternate captions include Total Deferred Charges and Other Assets. No definition available.
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of the general partner's ownership interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Total of all Liabilities and Stockholders' Equity items (or Partners' Capital, as applicable), including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Total obligations incurred as part of normal operations that is expected to be repaid beyond the following twelve months or one business cycle. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of the limited partners' ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount, net of accumulated depreciation, depletion and amortization, of long-lived physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parentheticals)
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Dec. 31, 2012
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Dec. 31, 2011
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Consolidated Balance Sheets | ||
Limted Partners - Common Units Outstanding | 69,372,077 | 69,372,077 |
Limited Partners - Preferred Units Outstanding | 15,555,554 | 0 |
X | ||||||||||
- Definition
The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The number of preferred units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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X | ||||||||||
- Definition
Revenues arising from services provided to related parties according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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X | ||||||||||
- Definition
Total revenues arising from services provided according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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X | ||||||||||
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
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X | ||||||||||
- Definition
The portion of profit or loss for the period which is attributable to CMTC operations. No definition available.
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X | ||||||||||
- Definition
Aggregate amount of net income allocated to common unitholders. No definition available.
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X | ||||||||||
- Definition
Aggregate amount of net income / (loss) allocated to general and limited partners. No definition available.
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X | ||||||||||
- Definition
Net income (loss) allocated to each outstanding common limited partnership unit basic and diluted. No definition available.
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
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X | ||||||||||
- Definition
Vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
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X | ||||||||||
- Definition
Related party vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
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X | ||||||||||
- Definition
Vessel voyage expenses are direct expenses to charter revenues and consist of commissions, port expenses, canal dues bunkers and other. No definition available.
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X | ||||||||||
- Definition
Related party vessel voyage expenses are direct expenses to charter revenues. No definition available.
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- Details
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X | ||||||||||
- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit basic and diluted. No definition available.
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X | ||||||||||
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The change in equity [net assets] of a business enterprise during a period from transactions and other events and circumstances from non-owner sources which are attributable to the reporting entity. It includes all changes in equity during a period except those resulting from investments by owners and distributions to owners, but excludes any and all transactions which are directly or indirectly attributable to that ownership interest in subsidiary equity which is not attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Income derived from investments in debt securities and on cash and cash equivalents the earnings of which reflect the time value of money or transactions in which the payments are for the use or forbearance of money. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of net Income or Loss for the period allocated to noncontrolling preferred unit holders in an entity included in the reporting entity's consolidated financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. No definition available.
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X | ||||||||||
- Definition
This element represents the Equity Impact of the excess of the purchase price over book value of vessels acquired from CMTC. No definition available.
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X | ||||||||||
- Definition
Fair value of acquiree's Equity Incentive Plan. No definition available.
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X | ||||||||||
- Definition
The portion of profit or loss for the period which is attributable to CMTC operations. No definition available.
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X | ||||||||||
- Definition
Aggregate amount of net income / (loss) allocated to general and limited partners. No definition available.
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X | ||||||||||
- Definition
This reduction in stockholders' equity represents the equity which was retained by CMTC upon the contribution of its vessel owning companies to the Partnership. No definition available.
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X | ||||||||||
- Definition
Issuance of units for business acquisition. No definition available.
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X | ||||||||||
- Definition
Issuance of common units for business acquisition. No definition available.
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X | ||||||||||
- Definition
Items including common stock value, paid in capital, retained earnings, common stock purchased for the treasury and excluding noncontrolling interests (minority interests) and preferred stockholder interests. No definition available.
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X | ||||||||||
- Definition
Net of tax amount of other comprehensive income (loss) attributable to both parent entity and noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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X | ||||||||||
- Definition
Capitalized vessel costs included in liabilities. No definition available.
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X | ||||||||||
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
|
X | ||||||||||
- Definition
This element represents the excess of the purchase price over book value of vessels acquired from CMTC. No definition available.
|
X | ||||||||||
- Definition
Fair value of Net Assets acquired in business acquisition. No definition available.
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X | ||||||||||
- Definition
The fair value attributable to precombination services of Crude Carriers Corp incentive plan award. No definition available.
|
X | ||||||||||
- Definition
Fair value of vessels transferred in. No definition available.
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X | ||||||||||
- Definition
Fair value of vessels transferred out, reduced by the net cash consideration received. No definition available.
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X | ||||||||||
- Definition
The cash inflow from the maturity of time deposits above three months. No definition available.
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X | ||||||||||
- Definition
Net liabilities assumed upon contribution of the vessel owning companies to the partnership. No definition available.
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X | ||||||||||
- Definition
Offering expenses included in liabilities. No definition available.
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X | ||||||||||
- Definition
This element represents payments for acquisitions and capitalized improvements of vessels. No definition available.
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X | ||||||||||
- Definition
The cash outflow to acquire an asset, which arises from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
X | ||||||||||
- Definition
The cash inflow from the issuance of partnership's, general partner, common and preferred units during the period. No definition available.
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X | ||||||||||
- Definition
The cash proceeds net of commissions and expenses from the sale of vessels. No definition available.
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X | ||||||||||
- Definition
The cash outflow for time deposits above three months. No definition available.
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X | ||||||||||
- Definition
Change in deferred offering expenses No definition available.
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X | ||||||||||
- Definition
Issuance of units for business acquisition. No definition available.
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X | ||||||||||
- Definition
The value of units issued for business acquisition. No definition available.
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash distributions paid to a common shareholder or unit-holder by a LLC or LP. No definition available.
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- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net cash inflow or outflow from financing activity for the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net cash inflow or outflow from investing activity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The net cash from (used in) all of the entity's operating activities, including those of discontinued operations, of the reporting entity. Operating activities generally involve producing and delivering goods and providing services. Operating activity cash flows include transactions, adjustments, and changes in value that are not defined as investing or financing activities. While for technical reasons this element has no balance attribute, the default assumption is a debit balance consistent with its label. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The amount of intangibles that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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- Definition
The cash outflow for the payment of a long-term borrowing made from a related party where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth. Alternate caption: Payments for Advances from Affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis Of Presentation And General Information
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Basis Of Presentation and General Information (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Basis Of Presentation and General Information |
Capital Product Partners L.P. (the Partnership) was formed on January 16, 2007, under the laws of the Marshall Islands. The Partnership is an international shipping company. Its fleet of twenty five modern high specification vessels consists of four Suezmax crude oil tankers, eighteen modern medium range tankers all of which are classed as IMO II/III vessels, two post panamax container carrier vessels and one capesize bulk carrier. Its vessels are capable of carrying a wide range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil and jet fuel, edible oils and certain chemicals such as ethanol as well as dry cargo and containerized goods under short-term voyage charters and medium to long-term time and bareboat charters.
The consolidated financial statements include the following vessel-owning companies and operating companies which were all incorporated or formed under the laws of the Marshall Islands and Liberia.
The Partnership Agreement provides that the Partnership's board of directors has the power to oversee, direct the operations of, manage and determine the strategies and policies of the Partnership. In addition under the Partnership Agreement, CMTC and its affiliates are not permitted to participate in the election of five out of the Partnership board's eight directors. This provision ensures that a majority of the directors on the Partnership's board are elected by the Partnership's limited unitholders that are not CMTC or its affiliates, and since July 22, 2010 a majority of the Partnership's board has been elected by unaffiliated unitholders.
As a result, the Partnership is not considered to be under common control with CMTC therefore since July 22, 2010 the Partnership no longer accounts for vessel acquisitions from CMTC as transfer of equity interest between entities under common control.
Prior to July 22, 2010, when the Partnership and CMTC were under common control, all the vessel owning companies the Partnership acquired from CMTC were recorded by the Partnership at net book value reflected by CMTC and accounted for as a combination of entities under common control or a transfer of equity interest between entities under common control. For a combination between entities under common control, the purchase cost provisions (as they relate to purchase business combinations involving unrelated entities) explicitly do not apply; instead the method of accounting prescribed by accounting standards for such transfers is similar to pooling-of-interests method of accounting. Under this method, the carrying amount of assets and liabilities recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity, and no other assets or liabilities are recognized as a result of the combination. Purchase premium or discount representing the difference between the cash consideration paid and the book value of the net assets acquired was recorded as increase or decrease to the Partners' capital.
Vessels that had an operating history as part of CMTC fleet, prior to their acquisition by the Partnership have been treated as an acquisition of business. As a result, transfers of equity interests between entities under common control were accounted for as if the transfer occurred at the beginning of the period, and prior years were retroactively adjusted to furnish comparative information similar to the pooling-of-interest method. |
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies
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Significant Accounting Policies (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||
Significant Accounting Policies |
Revenues are recorded over the term of the charter as service is provided and recognized on a pro-rata basis over the duration of the voyage.
All of the Partnership's time charters and bareboat charters are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee, and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective time or bareboat charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned. Deferred revenue represents cash received in advance of being earned. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long term liability.
Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of commissions, port expenses, canal dues and bunkers. Commissions are expensed over the related charter period and all the other voyage expenses are expensed as incurred. Under the Partnership's time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer, with the exception of Overseas Shipholding Group Inc. bareboat charter agreements where the charterer is responsible for the commissions. For voyage charters all voyage expenses are paid by the Partnership.
Vessel operating expenses presented in the consolidated financial statements mainly consisted of:
Vessel operating expenses are expensed as incurred.
In recent years market conditions as compared to previous years have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its assets. The Partnership has performed an undiscounted cash flow test based on US GAAP as of December 31, 2012 and 2011 determining undiscounted projected net operating cash flows for the vessels and comparing them to the vessels' carrying values. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership's historical performance and expectations for the vessels' utilization under the deployment strategy. Based on these assumptions, the Partnership determined that the undiscounted cash flows supported the vessels' carrying amounts as of December 31, 2012 and 2011.
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions
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Acquisitions (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Acquistions |
On December 22, 2012, the Partnership acquired the shares of Agamemnon Container Carrier Corp., the vessel owning company of the M/V Agamemnon, (Agamemnon), from CMTC in exchange for the shares of the Partnership's wholly owned subsidiary Achilleas Carriers Corp., the vessel owning company of the M/T Achilleas (Achilleas) following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership operated under a three year time charter, with A.P. Moller-Maersk A.S. (Maersk). The time charter commenced in June 2012 and the earliest expiry is in July 2015. Maersk has the option to extend the charter for an additional four years. The acquisition of Agamemnon was deemed accretive to the Partnership's distributions.
The Partnership accounted for the acquisition of Agamemnon as an acquisition of a business. All assets and liabilities of Agamemnon except the vessel, necessary permits and time charter agreement, were retained by CMTC. Furthermore up to the date of the exchange of Achilleas Carriers Corp., all assets and liabilities of Achilleas, except the vessel, were retained by the Partnership. CMTC has also waived any compensation for the early termination of the charter of Achilleas. The purchase price of the acquisition has been allocated to the identifiable assets acquired.
The total purchase consideration of $70,250 is comprised of:
a) $68,875 representing the fair value of Achilleas, and;
b) $1,375 representing the cash consideration paid to CMTC by the Partnership.
Acquisition-related costs of approximately $5.0 are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income for the year ended December 31, 2012.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Agamemnon was calculated as follows:
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Agamemnon which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate and market rate for comparable charter on the business combination date discounted at the WACC of approximately 11%.
Total revenues and net income of Agamemnon since its acquisition by the Partnership were $318 and $185 respectively and included in the Partnership's consolidated statements of comprehensive (loss) / income for the year ended December 31, 2012.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net (loss) / income and net (loss) / income per common unit of the combined entity had the acquisition of Agamemnon occurred on January 1, 2011:
On December 22, 2012, the Partnership acquired the shares of Archimidis Container Carrier Corp., the vessel owning company of the M/V Archimidis, (Archimidis), from CMTC in exchange for the shares of the Partnership's wholly owned subsidiary Alexander The Great Carriers Corp., the vessel owning company of the M/T Alexander The Great (Alexander The Great) following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership operated under a three year time charter, with Maersk. The time charter commenced in November 2012 and the earliest expiry is in October 2015. Maersk has the option to extend the charter for an additional four years. The acquisition of Archimidis was deemed accretive to the Partnership's distributions.
The Partnership accounted for the acquisition of Archimidis as an acquisition of a business. All assets and liabilities of Archimidis except the vessel, necessary permits and time charter agreement, were retained by CMTC. Furthermore up to the date of the exchange of Alexander the Great Carriers Corp., all assets and liabilities of Alexander the Great, except the vessel, were retained by the Partnership. CMTC has also waived any compensation for the early termination of the charter of Alexander the Great. The purchase price of the acquisition has been allocated to the identifiable assets acquired.
The total purchase consideration of $67,250 is comprised of:
a) $68,875 representing the fair value of Alexander the Great and;
b) $1,625 representing the cash consideration the Partnership received by CMTC.
Acquisition-related costs of approximately $5.0 are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income for the year ended December 31, 2012.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Archimidis was calculated as follows:
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Archimidis which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate and market rate for comparable charter on the business combination date discounted at the WACC of approximately 11%.
Total revenues and net income of Archimidis since its acquisition by the Partnership were $321 and $178 respectively and included in the Partnership's consolidated statements of comprehensive (loss) / income for the year ended December 31, 2012.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net (loss) / income and net (loss) / income per common unit of the combined entity had the acquisitions of Archimidis occurred on January 1, 2011:
On June 9, 2011, the Partnership acquired the shares of Patroklos Marine Corp., the vessel owning company of the M/V Cape Agamemnon (Patroklos), from CMTC as it was deemed accretive to the Partnership's distributions by the board of directors. The vessel at the time of her acquisition by the Partnership operated under a ten year time charter, with Cosco Bulk Carrier Co. Ltd. (COSCO Bulk), an affiliate of the COSCO Group. The time charter commenced in July 2010 and the earliest expiry under the charter is in June 2020. The acquisition of Patroklos was unanimously approved by the Partnership's Board of Directors following the unanimous approval and recommendation of the Board's conflicts committee, which is comprised entirely of independent directors.
The Partnership accounted for the acquisition of Patroklos as an acquisition of a business. All assets and liabilities of Patroklos except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $83,525 was funded by $1,470 from available cash, $25,000 through a draw down from the Partnership's credit facility with Credit Agricole Emporiki Bank (Note 7) and the remaining through the issuance of 6,958,000 Partnership's common units to CMTC at a price of $8.20 per unit as quoted on the Nasdaq Stock Exchange the date of the acquisition of Patroklos by the Partnership. Furthermore upon the acquisition of Patroklos, the Partnership issued another 142,000 of Partnership's common units. These units were converted into 142,000 of general partner units by the Partnership and delivered to Capital General Partner (CGP) in order for it to maintain its 2% interest in the Partnership. The Partnership received the amount of $1,470 in exchange for these general partner units.
Acquisition-related costs of approximately $409 are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income for the year ended December 31, 2011.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Patroklos and the gain from bargain purchase recorded as non operating income / (expense), net in the Partnership's consolidated statements of comprehensive (loss) / income for the year ended December 31, 2011 was calculated as follows:
The gain from bargain purchase of $16,526 has resulted from the decline of the Partnership's common unit price as the 6,958,000 common units which were issued to CMTC were valued at $8.20 per unit as quoted on the Nasdaq Stock Exchange on the day of the acquisition of Patroklos, as compared to the Partnership's common unit price of $10.35 representing a value of Partnership's common unit on the day CMTC and the Partnership agreed on the purchase consideration, including the issuance of these common units.
After a subsequent review and reassessment of valuation methods and procedures of the $100,051 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $16,526 in accordance with ASC Subtopic 805-30 as of the Patroklos acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Patroklos which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate and market rate for comparable charter on the business combination date discounted at the WACC of approximately 11%.
Total revenues and net income of Patroklos since its acquisition by the Partnership were $5,305 and $2,899 respectively and included in the Partnership's consolidated statements of comprehensive (loss) / income for the year ended December 31, 2011.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisitions of Patroklos occurred on July 28, 2010:
On September 30, 2011, the merger between the Partnership and Crude was successfully completed. The exchange ratio of this unit for share transaction was 1.56 Partnership's common units for each Crude share. The Partnership is the surviving entity in the merger and continues to be structured as a master limited partnership. This transaction was deemed accretive to the Partnership's distributions in the long term and it adds to the balance sheet strength and financial flexibility of the Partnership.
The Crude acquisition has been accounted for using the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price has been allocated to the all identifiable assets acquired and liabilities assumed with the excess of the fair value of assets acquired and liabilities assumed over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $157,064 is comprised of:
a) $155,559 representing the value of 24,344,176 Partnership's common units that were issued to Crude's shareholders', based on the exchange ratio of 1.56 Partnership's common units for each Crude share, at a price of $6.39 per unit as quoted on the Nasdaq Stock Exchange on September 30, 2011 the day of the successful closing of the acquisition and;
b) $1,505 representing the fair value attributable to precombination services of Crude's Equity Incentive Plan awards at the closing of the merger on September 30, 2011. Crude's Equity Incentive Plan awards consisted of 399,400 of Crude's common shares which were also exchanged at a ratio of 1.56 into 623,064 Partnership's common units at the closing of the merger.
Furthermore at the closing of the acquisition of Crude the Partnership converted 499,346 of Partnership's common units held by CMTC into 499,346 general partner units and delivered to CGP in order for it to maintain its 2% interest in the Partnership. For these units there was no cash consideration paid to the Partnership.
Acquisition-related costs of approximately $4,225 are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income for the year ended December 31, 2011.
The allocation of the purchase price to all identifiable assets acquired and liabilities assumed was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of assets and liabilities of Crude and the gain from bargain purchase recorded as non operating income / (expense), net, in the Partnership's consolidated statements of comprehensive (loss) / income for the year ended December 31, 2011 was calculated as follows:
The gain from bargain purchase of $65,927 has mainly resulted from:
After a subsequent review and reassessment of valuation methods and procedures of the $222,991 fair value amount for identifiable assets acquired and liabilities assumed, the Partnership concluded that its measurements for the identifiable assets acquired and liabilities assumed appropriately reflect consideration of all available information that existed as of the acquisition date. As a result of the merger and based on ASC Subtopic 805-30 the Partnership recorded a gain from bargain purchase of $65,927 in its consolidated statements of comprehensive (loss) / income as of the acquisition date.
Total revenues and net loss of Crude since its acquisition by the Partnership were $13,327 and $1,399 respectively and included in the Partnership's consolidated statements of comprehensive (loss) / income for the year ended December 31, 2011.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the historical financial information of the Partnership and Crude reflecting:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues, net income and net income per common unit of the combined entity had the acquisition of Crude occurred on January 1, 2010:
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The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions With Related Parties
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Transactions with Related Parties |
The Partnership and its subsidiaries, have related-party transactions with the Manager, due to certain terms of the following three different types of management agreements.
(a) a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index;
(b) a sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired by Crude Carriers; and
(c) a commercial services fee equal to 1.25% of all gross charter revenues generated by each vessel for commercial services rendered.
The Manager has the right to terminate the Crude management agreement and, under certain circumstances, could receive substantial sums in connection with such termination. As of March 2012 this termination fee had been adjusted from $9,000 to $9,500.
All the above three agreements constitute the Management Agreements.
Under the terms of the fixed fee management agreement, the Manager charged the Partnership for additional fees and costs, relating to insurances deductibles, vetting, and repairs and spares that related to unforeseen events. For the years ended December 31, 2012, 2011 and 2010 such fees amounted to $1,850, $1,237 and $1,966, respectively. The 2011 charge includes a $710 adjustment in order to reflect the claim proceeds the Partnership received for one of its vessels, the M/T Attikos.
On April 4, 2007, the Partnership entered into an administrative services agreement with the Manager, pursuant to which the Manager will provide certain administrative management services to the Partnership such as accounting, auditing, legal, insurance, IT, clerical, investor relations and other administrative services. Also the Partnership reimburses CGP for all expenses which are necessary or appropriate for the conduct of the Partnership's business. The Partnership reimburses the Manager and CGP for reasonable costs and expenses incurred in connection with the provision of these services after the Manager submits to the Partnership an invoice for such costs and expenses, together with any supporting detail that may be reasonably required. These expenses are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income.
Balances and transactions with related parties consisted of the following:
(a) Manager - Payments on Behalf of Capital Product Partners L.P . : This line item includes the Manager payments it makes on behalf of the Partnership and its subsidiaries.
(b) Management fee payable to CSM : The amount outstanding as of December 31, 2012 and 2011 represents the management fee payable to CSM as a result of the Management Agreements the Partnership entered into with the Manager.
(c) Revenues: The following table includes information regarding the charter agreements the Partnership entered into with CMTC during 2012 and 2011.
(d) General and administrative expenses: This line item mainly includes internal audit, investor relations and consultancy fees.
(e) Interest expense and finance cost:: Interest expense for the related-party loans for the years ended December 31, 2012, 2011 and 2010 amounted to $0, $0 and $210 respectively and relates to the loans that CMTC had entered into with financial institutions for the financing of the acquisition of the shares of the vessel owning company of the M/T Atrotos and the M/T Alkiviadis when both operated under CMTC's fleet. There were no outstanding balances in relation to these loans as of December 31, 2012 and 2011.
(f) Deferred Revenue: As of December 31, 2012 and 2011 the Partnership received cash in advance for revenue earned in a subsequent period from CMTC. |
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Vessels
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Vessels |
An analysis of vessels is as follows:
All of the Partnership's vessels as of December 31, 2012 have been provided as collateral to secure the Partnership's credit facilities.
On December 22, 2012, the Partnership acquired the shares of the vessel owning companies of two post panamax container carrier vessels the M/V Agamemnon and the M/V Archimidis from CMTC in exchange of the shares of the vessel owning companies of two very large crude carrier vessels the M/T Achilleas and the M/T Alexander The Great respectively (Note 3). The M/V Agamemnon and the M/V Archimidis have been recorded in the Partnership's financial statements at their fair value as quoted by independent brokers at the time of the acquisition of $68,000 and $65,000 respectively. In relation to the transaction described above the Partnership recorded an impairment charge of $43,178 which represents the difference between the carrying value of the M/T Achilleas and the M/T Alexander the Great of $180,928 and the fair market value of these vessels of $137,750 as quoted by independent brokers and is presented as Vessels' impairment charge in the Partnership's consolidated statements of comprehensive (loss) / income. The vessel-owning companies of the M/T Achilleas and the M/T Alexander the Great were deconsolidated from the Partnership accounts as of the date of their disposal to CMTC. Results of operations, cash flows, and assets and liabilities of these vessels prior to their disposal to CMTC are included in the Partnership's consolidated financial statements.
On February 14, 2012 the Company disposed the M/T Attikos, a 12,000 dwt chemical tanker built in 2005 for net proceeds of $9,807, to an unrelated third party. The Partnership realized a net gain on this disposal of $943 as the carrying value of the vessel at the time of her disposal was $8,864.
On April 4, 2012 the Company disposed the M/T Aristofanis, a 12,000 dwt, chemical tanker built in 2005 for net proceeds of $9,867, to an unrelated third party. The Partnership realized a net gain on this disposal of $353 as the carrying value of the vessel at the time of her disposal was $9,514.
During 2012 the M/T Avax, M/T Axios, M/T Akeraios, M/T Apostolos, M/T Anemos and M/T Atrotos (renamed El Pipila) underwent improvements following their respective first special survey. These costs for these six vessels amounted to $105 and were capitalized as part of the respective vessels' historic cost.
Following the acquisition of Crude, on September 30, 2011, (Note 3), the Partnership acquired the shares of the vessel owning companies of the M/T Alexander the Great, the M/T Achilleas, the M/T Miltiadis M II, the M/T Amoreux and the M/T Aias. These vessels have been recorded in the Partnership's financial statements at the amount of $351,750 which represents their respective fair value at the completion of the business acquisition.
On June 9, 2011 the Partnership acquired the shares of Patroklos, the vessel owning company of the M/V Cape Agamemnon for a total consideration of $83,525 (Note 3). The vessel has been recorded in the Partnerships' financial statements at its fair value at the time of acquisition of $51,500.
During 2011 the M/T Amore Mio II, M/T Arionas, M/T Agisilaos and M/T Assos (renamed Insurgentes), underwent improvements following their respective first special survey / dry docking. These costs for these four vessels amounted to $611 and were capitalized as part of the respective vessels' historic cost. |
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The entire disclosure of vessels that are used in the normal conduct of business and not intended for resale. The disclosure may include, but not limited to, vessel additions, disposals, impairment and depreciation. No definition available.
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Above Market Acquired Charters
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Above market acquired charters |
In December 22, 2012 the Partnership acquired the shares of Agamemnon and Archimidis, from CMTC with outstanding time charters to Maersk terminating in July, 2015 and October 2015, respectively, which were above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charters were estimated by the Partnership at $2,250 each, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).
In June 2011 the Partnership acquired the shares of Patroklos, the vessel-owning company of M/V Cape Agamemnon from CMTC with an outstanding time charter to COSCO Bulk terminating in June, 2020, which was above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charter was estimated by the Partnership at $48,551, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).
In August 16, 2010 the Partnership acquired the shares of Canvey Shipmanagement Co., the vessel-owning company of the M/T Assos (renamed Insurgentes) with an outstanding bare-boat charter, which was above the market rates for equivalent bare-boat charters prevailing at the time of acquisition. The present value of the above the market acquired bare-boat charter was estimated by the Partnership at $9,000, and was recorded as an asset in the consolidated balance sheet as of the acquisition date.
For the years ended December 31, 2012, 2011 and 2010 revenues included a reduction of $7,904, $5,489 and $938 as amortization of the above market acquired charters, respectively.
An analysis of above market acquired charters is as follows:
As of December 31, 2012 the remaining carrying amount of unamortized above market acquired time and bare-boat charters was $47,720 and will be amortized in future years as follows:
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The entire disclosure for above market acquired charters. No definition available.
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Long-Term Debt
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Long-Term Debt |
Long-term debt consists of the following:
As at December 31, 2012, the amounts drawn down under the Partnership's three credit facilities were as follows:
Following the exchange of the M/T Achilleas with the M/V Agamemnon and the M/T Alexander the Great with the M/V Archimidis in December 2012 (Note 3), the Partnership prepaid from its available cash the amount of $5,149 and the M/V Archimidis and the M/V Agamemnon replaced the M/T Alexander the Great and the M/T Achilleas as collateral under its credit facility of $350,000.
Following the issuance of Class B Convertible Preferred Units in May and June 2012 (Note 13), the Partnership prepaid debt of $149,566 across its three credit facilities by using in full the net proceeds of the issuance of $136,419 and an amount of $13,147 from its available cash. Following the debt repayment of $149,566, on May 23, 2012 the Partnership's credit facilities were amended: a) The new amortization schedule will commence in March 2016 b) the margin of the credit facility of $370,000 and $350,000 has increased to 2% and 3% respectively and c) the Partnership's credit facility of $370,000 was converted into a term loan, and the undrawn tranche of $52,500 relating to the credit facility of $350,000 was cancelled.
The Partnership's loan of $370,000 will be repaid in 6 equal consecutive quarterly installments of $12,975 commencing in March, 2016 plus a balloon payment due in June, 2017. The Partnership's credit facilities of $350,000 and $25,000 will be repaid in 9 equal consecutive quarterly installments of $7,855 and $1,000 respectively commencing in March, 2016 plus a balloon payment for each facility due in March, 2018.
On April 4, 2012, an amount of $10,500 was repaid on the Partnership's revolving credit facility of $370,000, from the proceeds of the disposal of its vessel M/T Aristofanis (Note 5).
On February 15, 2012, an amount of $10,000 was repaid on the Partnership's revolving credit facility of $370,000, from the proceeds of the disposal of its vessel M/T Attikos (Note 5).
On June 9, 2011 the Partnership entered into a loan agreement with Credit Agricole Emporiki Bank for a credit facility of $25,000 in order to partially finance the acquisition of the shares of the vessel owning company of the M/V Cape Agamemnon from CMTC. On June 10, 2011 the Partnership drew down the amount of $25,000. This credit facility contains customary ship finance covenants and is secured and guaranteed by the vessel owning company of the M/V Cape Agamemnon.
On September 30, 2011, the Partnership completed the refinancing of Crude's outstanding debt of $134,580 using its existing $350,000 credit facility entered into in March 2008.
The Partnership's credit facilities contain customary ship finance covenants, including restrictions as to: changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness, the mortgaging of vessels, the ratio of EBITDA to Net Interest Expenses shall be no less than 2:1, minimum cash requirement of $500 per vessel of which 50% may be constituted by undrawn commitments under the revolving facility, as well as the ratio of net Total Indebtedness to the aggregate Market Value of the total fleet shall not exceed 0.725:1. The credit facilities also contain the collateral maintenance requirement in which the aggregate average fair market value, of the collateral vessels shall be no less than 125% of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2012 and 2011 the Partnership was in compliance with all financial debt covenants.
The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective vessel or vessels. Each also requires additional security, including: pledge and charge on current account; corporate guarantee from each of the twenty-five vessel-owning companies, and mortgage interest insurance.
The Partnership's credit facilities contain a Market Disruption Clause where the lenders, at their discretion, may impose additional interest margin if their borrowing rate exceeds effective interest rate (LIBOR) stated in the loan agreement with the Partnership. For the years ended December 31, 2012, 2011 and 2010 the Partnership incurred an additional interest expense in the amount of $373, $1,290 and $1,468 respectively due to the Market Disruption Clause.
As of December 31, 2012, the amount of $55,420 of the Partnership's credit facility of up to $350,000 had not been drawn down.
For the years ended December 31, 2012, 2011 and 2010, the Partnership recorded interest expense of $25,788, $32,216 and $31,634, respectively. As of December 31, 2012 and 2011 the weighted average interest rate of the Partnership's loan facilities was 3.11% and 5.28%, respectively.
The required annual loan payments to be made subsequent to December 31, 2012 are as follows:
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Derivative Instruments
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Derivative Instruments |
The Partnership had entered into fourteen interest rate swap agreements in order to mitigate the exposure from interest rate fluctuations. Nine of the Partnership's interest rate swap agreements under its $370,000 credit facility expired as of June 29, 2012 and one was terminated upon the disposal of the M/T Attikos and the M/T Aristofanis. During the year ended December 31, 2012, the Partnership terminated one interest rate swap agreement in full and one partially under its $350,000 credit facility. As of December 31, 2012 the Company holds interest rate swaps for the amount of $59,084.
All derivatives are carried at fair value on the consolidated balance sheet at each period end. Balances as of December 31, 2012 and 2011 are as follows:
Tabular disclosure of derivative instruments is as follows:
The table below shows the effective portion of the hedging relationship of the Partnership's derivatives designated as hedging instruments recognized in Other Comprehensive Income (OCI), the realized losses from net interest rate settlements transferred from OCI into the Partnership's consolidated statements of comprehensive (loss) / income and the amounts recognized in the consolidated statements of comprehensive (loss) / income arising from the hedging relationships not qualifying for hedge accounting for the years ended December 31, 2012, 2011 and 2010, respectively:
The Partnership follows the accounting guidance for derivative instruments which requires disclosure that establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about 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 statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:
Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;
Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly;
Level 3: Inputs are unobservable inputs for the asset or liability.
The Partnership's interest rate swap agreements, entered into pursuant to its loan agreements, are based on LIBOR swap rates. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swaps and therefore are considered Level 2 items. The fair values of the interest rate swap determined through Level 2 of the fair value hierarchy are derived principally from or corroborated by observable market data. Inputs include quoted prices for similar assets, liabilities (risk adjusted) and market-corroborated inputs, such as market comparable, interest rates, yield curves and other items that allow value to be determined. Fair value of the interest rate swaps is determined using a discounted cash flow method based on market-base LIBOR swap yield curves. The fair value of the Partnership's interest rate swaps is the estimated value of the swap agreements at the reporting date, taking into account current interest rates and the forward yield curve and the creditworthiness of the Partnership and its counterparties.
Following the partial prepayment of the Partnership's credit facilities in May 2012 (Note 7) resulting in the termination of one interest rate swap agreement, the disposal of the M/T Attikos and the M/T Aristofanis (Note 5) resulting in the termination of the one interest swap agreement amounting to $20,500 and the expiration of nine interest rate swap agreements in June 2012, the Partnership's interest rate swap agreements were reduced to three. As of December 31, 2012 the interest rate swap agreement as presented in the table below qualifies as a cash flow hedge and the changes in their fair value are recognized in accumulated other comprehensive loss.
Since March 31, 2012 and May 23, 2012 the interest rate swaps of $46,000 and $1,584 do not qualify as cash flow hedges and are presented in the table below. As a result the amount of $1,400 and $50, which was part of the Partnership's accumulated other comprehensive loss (OCL) as of March 31, 2012 and May 23, 2012 respectively, are attributable to ineffective hedges and are being amortized over their respective remaining term up to their maturity date March 27, 2013 and March 28, 2013, respectively in the Partnership's consolidated statements of consolidated statements of comprehensive (loss) / income by using the effective interest rate method.
For the year ended December 31, 2012 the Partnership recorded an expense of $1,087 from the above amortization.
The net result of the accumulated OCL amortization and the change of the fair value of certain interest rate swap agreements of $ 1,448 and $2,310 is presented under other non operating income (expense) net as a Gain on interest rate swap agreement in the Partnership's consolidated statements of comprehensive (loss) / income for the years ended December 31, 2012 and 2011 respectively. |
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The entire disclosure for the entity's entire derivative instruments and hedging activities. Describes an entity's risk management strategies, derivatives in hedging activities and non-hedging derivative instruments, the assets, obligations, liabilities, revenues and expenses arising therefrom, and the amounts of and methodologies and assumptions used in determining the amounts of such items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities
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Accrued Liabilities |
Accrued liabilities consist of the following:
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Voyage Expenses and Vessel Operating Expenses
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Voyage Expenses And Vessel Operating Expenses |
Voyage expenses and vessel operating expenses consist of the following:
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The entire disclosure for voyage and vessel operating expenses relating to the operation and maintenance of the vessels, which are not separately disclosed in the income statement. No definition available.
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Income Taxes
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Income Taxes |
Under the laws of the Marshall Islands, the country in which the vessel-owning subsidiaries were incorporated, these companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes in the country in which the vessels are registered, which have been included in vessel operating expenses in the accompanying consolidated statements of comprehensive (loss) / income.
Pursuant to Section 883 of the United States Internal Revenue Code (the Code) and the regulations thereunder, a foreign corporation engaged in the international operation of ships is generally exempt from U.S. federal income tax on its U.S.-source shipping income if the foreign corporation meets both of the following requirements: (a) the foreign corporation is organized in a foreign country that grants an equivalent exemption to corporations organized in the United States for the types of shipping income (e.g., voyage, time, bareboat charter) earned by the foreign corporation and (b) more than 50% of the voting power and value of the foreign corporation's stock is primarily and regularly traded on an established securities market in the United States and certain other requirements are satisfied (the Publicly-Traded Test).
The jurisdictions where the Partnership's vessel-owning subsidiaries are incorporated each grants an equivalent exemption to United States corporations with respect to each type of shipping income earned by the Partnership's ship-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be established securities market. We also believe that we satisfy the other requirements of the Publicly-Traded Test. Therefore, we have satisfied the Publicly-Traded Test for the years ended December 31, 2012, 2011 and 2010 and the ship-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Cash Flow
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Cash Flow (Table Text Block) |
On September 30, 2011 the acquisition of Crude was successfully completed (Note 3). As the merger agreement with Crude was a unit for share transaction no cash consideration was paid and thus the following assets and liabilities of Crude acquired in a non-cash transaction are not included into the Partnership's consolidated statement of cash flows for the year ended December 31, 2011.
The following assets and liabilities were included in the balance sheets of vessel owning entities acquired from CMTC, however, these assets, liabilities and equity amounts were retained by CMTC on March 1, 2010 and June 30, 2010 when the shares of the vessel-owning companies of the M/T Atrotos and the M/T Alkiviadis were transferred from CMTC to the Partnership, respectively. These transfers have been accounted for as transfers of equity interests between entities under common control where prior years were retroactively adjusted as if the transfers occurred at the beginning of the earliest comparable period (Note 1). As such assets and liabilities were included in the Partnership's balance sheet due to retrospective presentation, but were not acquired by the Partnership upon acquisition of the above mentioned vessel-owning entities, the cash flows for the years ended December 31, 2010 were adjusted accordingly to exclude the following amounts of assets and liabilities as they did not result in cash inflows or outflows in the Partnership's consolidated financial statements:
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The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners Capital
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Partners' Capital |
General: The partnership agreement requires that within 45 days after the end of each quarter, beginning with the quarter ending June 30, 2007, all of the Partnership's available cash will be distributed to unitholders.
Definition of Available Cash: Available Cash, for each fiscal quarter, consists of all cash on hand at the end of the quarter:
General Partner Interest and Incentive Distribution Rights: The General Partner has a 2% interest in the Partnership as well as the incentive distribution rights. In accordance with Section 5.2(b) of the Partnership Agreement, upon the issuance of additional units by the Partnership, the general partner may elect to make a contribution to the Partnership to maintain its 2% interest.
Incentive distribution rights represent the right to receive an increasing percentage of quarterly distributions of available cash from operating surplus after the minimum quarterly distribution and the target distribution levels have been achieved. The Partnership's general partner as of December 31, 2012, 2011 and 2010 holds the incentive distribution rights.
The following table illustrates the percentage allocations of the additional available cash from operating surplus among the unitholders and general partner up to the various target distribution levels. The amounts set forth under Marginal Percentage Interest in Distributions are the percentage interests of the unitholders and general partner in any available cash from operating surplus that is being distributed up to and including the corresponding amount in the column Total Quarterly Distribution Target Amount, until available cash from operating surplus we distribute reaches the next target distribution level, if any. The percentage interests shown for the unitholders and general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution.
Distributions of Available Cash From Operating Surplus After the Subordination Period: Our Partnership agreement requires that we will make distributions of available cash from operating surplus for any quarter after the subordination period in the following manner:
On May 23, and June 6, 2012 the Partnership entered into a Class B Convertible Preferred Unit Subscription Agreement (the Agreement) with various investors. According to this Agreement the Partnership issued 15,555,554 Class B Convertible Preferred Units to a group of investors including Kayne Anderson Capital Advisors L.P., Swank Capital LLC, Salient Partners, Spring Creek Capital LLC, Mason Street Advisors LLC and CMTC for net proceeds of $136,419. The holders of the Class B Convertible Preferred Units have the right to convert all or a portion of such Class B Convertible Preferred Units at any time into Common Units at the conversion price of $9 per Class B Convertible Preferred Unit and a conversion rate of one Common Unit per one Class B Convertible Preferred Unit. The Conversion Ratio and the Conversion Price shall be adjusted upon the occurrence of certain events as described to the Agreement.
Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (VWAP) and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the Partnership Mandatory Conversion Event) the Partnership (acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full Board of Directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio.
The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership's board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to this Agreement in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day.
Any distribution payable on the Class B Convertible Preferred Units for any partial quarter (other than the initial distribution payable on the Class B Convertible Preferred Units for the period from May 22, 2012 through June 30, 2012 that equals to $0.26736 for each Class B Convertible Preferred Unit ) shall equal the product of the minimum quarterly Class B Convertible Preferred Unit distribution rate of $0.21375 (equals to a 9.5% annual distribution rate, subject to adjustment in the cases where clause of change of control, and/or clause of cross default provisions of the Agreement applies).
No distribution on the Class B Convertible Preferred Units shall be authorized by the board of directors or declared or paid or set apart for payment by the Partnership at such time as the terms and provisions of any agreement of the Partnership, including any agreement relating to its indebtedness, prohibits such authorization, declaration, payment or setting apart for payment or provides that such authorization, declaration, payment or setting apart for payment would constitute a breach thereof, or a default thereunder, or if such authorization, declaration, payment or setting apart for payment shall be restricted or prohibited by law. The foregoing, distributions with respect to the Class B Convertible Preferred Units shall accumulate as of the Class B Convertible Preferred Unit distribution payment date on which they first become payable whether or not any of the foregoing restrictions in above exist, whether or not there is sufficient Available Cash for the payment thereof and whether or not such distributions are authorized. A cumulative Class B Convertible Preferred Unit arrearage shall not bear interest and holders of the Class B Convertible Preferred Units shall not be entitled to any distributions, whether payable in cash, property or Partnership Interests, in excess of the then cumulative Class B Convertible Preferred Unit arrearage plus the minimum quarterly Class B Convertible Preferred Unit distribution rate for such quarter.
With respect to Class B Convertible Preferred Units that are converted into Common Units, the holder thereof shall not be entitled to a Class B Convertible Preferred Unit distribution and a Common Unit distribution with respect to the same period, but shall be entitled only to the distribution to be paid based upon the class of Units held as of the close of business on the record date for the distribution in respect of such period; provided , however , that the holder of a converted Class B Convertible Preferred Unit shall remain entitled to receive any accrued but unpaid distributions due with respect to such Unit on or as of the prior Class B Convertible Preferred Unit distribution payment date; and provided, further , that if the Partnership exercises the Partnership Mandatory Conversion Right to convert the Class B Convertible Preferred Units pursuant to this Agreement then the holders' rights with respect to the distribution for the Quarter in which the Partnership Mandatory Conversion Notice is received is as set forth in this Agreement.
On September 30, 2011 the Partnership issued 24,967,240 common units to Crude's shareholders in connection with the acquisition of Crude. Upon the completion of the acquisition, the Partnership converted 499,346 common units into 499,346 general partner units in order to enable CGP to maintain its 2% interest in the Partnership (Note 3).
In June 2011 the Partnership issued 6,958,000 common units and 142,000 general partner units to CMTC and CGP respectively in connection with the acquisition of the M/V Cape Agamemnon by the Partnership. In exchange of the 142,000 general partner units the Partnership received from CGP the amount of $1,470 (Note 3).
In August 2010 the Partnership successfully completed an equity offering of 5,500,000 common units, receiving proceeds of $45,460 after the deduction of the underwriters' commissions. On the same date CMTC made a contribution of $969 to the Partnership in exchange for the issuance of 112,245 general partner units to CGP in order for it to maintain its 2% general partner interest in the Partnership. The underwriters' exercised in part the overallotment options receiving an additional 552,254 common units from the Partnership. In exchange of the issuance of these common units the Partnership received the amount of $4,540 after the deduction of the underwriters' commissions. CMTC made a contribution of $97 to the Partnership in exchange for the issuance of 11,270 general partner units to CGP in order for it to maintain its 2% general partner interest in the Partnership.
In February 2010 the Partnership successfully completed an equity offering of 5,800,000 common units, receiving proceeds of $48,886 after the deduction of the underwriters' commissions. On the same date CMTC made a contribution of $1,048 to the Partnership in exchange for the issuance of 118,367 general partner units to CGP in order for it to maintain its 2% general partner interest in the Partnership. In March 2010 the underwriters' exercised in part the overallotment options receiving an additional 481,578 common units from the Partnership. In exchange of the issuance of these common units the Partnership received the amount of $4,055 after the deduction of the underwriters' commissions. CMTC made a contribution of $87 to the Partnership in exchange for the issuance of 9,828 general partner units to CGP in order for it to maintain its 2% general partner interest in the Partnership.
As of December 31, 2012 and 2011 our partners' capital included the following units:
During the years ended December 31, 2012, 2011 and 2010, the Partnership declared and paid dividends amounting to $73,316, $45,116 and $33,665, respectively.
Changes in Common Stockholders' Equity reflect:
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The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Omnibus Incentive Compensation Plan
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Omnibus Incentive Compensation Plan |
On April 29, 2008, the Board of Directors approved the Partnership's Omnibus Incentive Compensation Plan (the Plan) according to which the Partnership may issue a limited number of awards, not to exceed 500,000 units. The Plan was amended on July 22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 800,000. The Plan is administered by the General Partner as authorized by the Board of Directors. The persons eligible to receive awards under the Plan are officers, directors, and executive, managerial, administrative and professional employees of the Manager, or CMTC, or other eligible persons (collectively, key persons) as the General Partner, in its sole discretion, shall select based upon such factors as it deems relevant. Members of the Board of Directors are considered to be employees of the Partnership (Employees) for the purposes of recognition of equity compensation expense, while employees of the Manager, CMTC and other eligible persons under the plan are not considered to be employees of the Partnership (Non-Employees). Awards may be made under the Plan in the form of incentive stock options, non-qualified stock options, stock appreciation rights, dividend equivalent rights, restricted stock, unrestricted stock, restricted stock units and performance shares.
On August 25 and 31, 2010 CGP awarded 448,000 and 347,200 unvested units to Employees and Non-Employees, respectively. Awards granted to certain Employees vest in three equal annual installments. The remaining awards will vest on August 31, 2013.
All unvested units are conditional upon the grantee's continued service as Employee and/or Non-Employee until the applicable vesting date. The unvested units will accrue distributions as declared and paid which will be retained by the custodian of the Plan until the units vest at which time they are payable to the grantee. As unvested unit grantees accrue distributions on awards that are expected to vest, such distributions are charged to Partner's capital.
On March 1, 2010 Crude adopted an equity incentive plan according to which Crude issued 399,400 shares out of 400,000 restricted shares that were authorized. Members of the Board of Directors were considered to be employees of Crude (Employees), while employees of Crude's affiliates and other eligible persons under this plan were not considered to be employees of Crude (Non-Employees). Awards granted to certain Employees vest in three equal annual installments. The remaining awards will vest on August 31, 2013.
All unvested shares are conditional upon the grantee's continued service as Employee and/or Non-Employee until the applicable vesting date. The unvested shares will accrue dividends as declared and paid, which will be retained by the custodian of Crude's equity incentive plan until the shares vest, at which time they are payable to the grantee. As unvested shares grantees accrue dividends on awards that are expected to vest, such dividends were charged to Stockholders' equity prior to Crude's acquisition and are charged to the Partner's capital subsequently to the acquisition.
Upon the completion of the acquisition of Crude by the Partnership on September 30, 2011, the Crude's Equity Incentive Plan existing that date was incorporated into the Partnership's Plan at a ratio of 1.56 common Partnership's unit for each Crude share. The 205,000 unvested shares of Crude's Employee award converted to 319,800 Partnership's unvested units and the 194,400 unvested shares of Crude's Non-Employee award converted to 303,264 Partnership's unvested units. The terms and conditions of both plans are significantly the same and remained unchanged after the acquisition, with the exception of 20,000 Crude shares, which were converted to 31,200 Partnership's units upon the completion of the acquisition. These Crude shares were held by those members of the Crude's Independent Committee who were not designated by Crude to serve as a member of the Partnership board of directors and were vested in full immediately upon the consummation of the acquisition on September 30, 2011.
There were no forfeitures of awards during the year ended December 31, 2012 and 2011. The Partnership estimates the forfeitures of unvested units to be immaterial. The Partnership will, however, re-evaluate the reasonableness of its assumption at each reporting period. As of December 31, 2012, the unvested units accrued $1,823 of distributions.
For the year ended December 31, 2012, 2011, and 2010 the equity compensation expense that has been charged in the consolidated statements of comprehensive (loss) / income was $1,834, $1,358 and $420 for the Employee awards and $1,992 $1,097 and $362 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses for each respective year.
As of December 31, 2012, there was $1,216 of total unrecognized compensation cost related to unvested equity compensation arrangements granted under the Plan based on:
That cost is expected to be recognized over the remaining vesting period of 0.7 years.
As of December 31, 2012, there was $829 of total unrecognized compensation cost related to unvested equity compensation arrangements granted to Non-Employees under the Plan, valued based on the closing unit price of $6.58 on December 31, 2012. That cost is expected to be recognized over the remaining vesting period of 0.7 years.
The Partnership has used the straight-line method to recognize the cost of the awards.
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net (Loss) / Income Per Unit
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Dec. 31, 2012
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Net (Loss)/ Income Per Unit |
The general partner's, common unit holders' and subordinated unitholders' interests in net income are calculated as if all net income for periods subsequent to April 4, 2007, were distributed according to the terms of the Partnership's Agreement, regardless of whether those earnings would or could be distributed. The Partnership Agreement does not provide for the distribution of net income; rather, it provides for the distribution of available cash (Note 13), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves established by the Partnership's board of directors to provide for the proper resources for the Partnership's business. Unlike available cash, net income is affected by non-cash items. The Partnership follows the guidance relating to the Application of the Two-Class Method and its application to Master Limited Partnerships which considers whether the incentive distributions of a master limited partnership represent a participating security when considered in the calculation of earnings per unit under the Two-Class Method.
This guidance also considers whether the partnership agreement contains any contractual limitations concerning distributions to the incentive distribution rights that would impact the amount of earnings to allocate to the incentive distribution rights for each reporting period.
Under the Partnership Agreement, the holder of the incentive distribution rights in the Partnership, which is currently the CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions after the minimum quarterly distribution (Note 13).
Excluding the non-cash vessels' impairment charge and gain from bargain purchase, as this was not distributed to the Partnership's unit holders for the years ended December 31, 2012 and 2011 respectively the Partnership's net income for the years ended December 31, 2012, 2011 and 2010 did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP's interest in net income.
All common unit equivalents were antidilutive for the year ended December 31, 2012 because the limited partners were allocated a net loss in this period. The Partnership excluded the dilutive effect of 1,187,130 and 795,200 non-vested unit awards in calculating dilutive EPU for its common unitholders as of December 31, 2011 and 2010, respectively, as they were anti-dilutive. The non-vested units are participating securities because they receive distributions from the Partnership and these distributions do not have to be returned to the Partnership if the non-vested units are forfeited by the grantee.
The Partnership, also, excluded the dilutive effect of the $10,809 dividends attributable to preferred unit holders in calculating EPU for its common unit holders as of December 31, 2012 as they were anti-dilutive.
The two class method was used to calculate EPU as follows:
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments And Contingencies
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Commitments and Contingencies |
Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Partnership's vessels. The Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements.
The Partnership 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, the Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements.
An estimated loss from a contingency should be accrued by a charge to expense and a liability recorded only if all of the following conditions are met:
Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancelable long-term time and bareboat charter contracts, as of December 31, 2012 were:
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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Dec. 31, 2012
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Subsequent Events |
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Significant Accounting Policies (Policy)
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Dec. 31, 2012
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Consolidation Policy Text Block |
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Use Of Estimates |
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Other Comprehensive Income |
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Accounting for Revenue, Voyage and Operating Expenses |
Revenues are recorded over the term of the charter as service is provided and recognized on a pro-rata basis over the duration of the voyage.
All of the Partnership's time charters and bareboat charters are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee, and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective time or bareboat charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned. Deferred revenue represents cash received in advance of being earned. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long term liability.
Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of commissions, port expenses, canal dues and bunkers. Commissions are expensed over the related charter period and all the other voyage expenses are expensed as incurred. Under the Partnership's time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer, with the exception of Overseas Shipholding Group Inc. bareboat charter agreements where the charterer is responsible for the commissions. For voyage charters all voyage expenses are paid by the Partnership.
Vessel operating expenses presented in the consolidated financial statements mainly consisted of:
Vessel operating expenses are expensed as incurred. |
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Foreign Currency Transactions |
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Cash And Cash Equivalents Policy |
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Restricted Cash |
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Trade Accounts Receivable |
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Inventories |
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Fixed Assets |
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Impairment of Long-Lived Assets |
In recent years market conditions as compared to previous years have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its assets. The Partnership has performed an undiscounted cash flow test based on US GAAP as of December 31, 2012 and 2011 determining undiscounted projected net operating cash flows for the vessels and comparing them to the vessels' carrying values. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership's historical performance and expectations for the vessels' utilization under the deployment strategy. Based on these assumptions, the Partnership determined that the undiscounted cash flows supported the vessels' carrying amounts as of December 31, 2012 and 2011. |
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Intangible Assets |
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Deferred charges, net |
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Pension and Retirement Benefit Obligations |
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Concentration of Credit Risk |
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Fair Value of Financial Instruments |
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Interest Rate Swap Agreements |
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Net Income Per Limited Partner Unit |
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Income Taxes |
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Segment Reporting |
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Omnibus Incentive Compensation Plan |
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Recent Accounting Pronouncements | (v) Recent Accounting Pronouncements: There are no recent accounting pronouncements issued during 2012 whose adoption would have a material effect on the Partnership's consolidated financial statements in the current year or expected to have an impact on future years. |
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Disclosure of accounting policy for net income per limited partner unit. No definition available.
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Disclosure of accounting policy for other comprehensive income. No definition available.
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Entity's cash and cash equivalents accounting policy with respect to restricted balances, related to compliance to debt covenants. No definition available.
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Disclosure of accounting policy regarding recognition of voyage revenue and voyage and operating expenses. No definition available.
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Disclosure of accounting policy for vessels. No definition available.
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Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for deferral and amortization of significant deferred charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of the adoption of new accounting pronouncements that may impact the entity's financial reporting. No definition available.
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Disclosure of accounting policy for pension plans. This accounting policy may address (1) the types of plans sponsored by the entity (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for assessing and recognizing impairments of its property, plant and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Presentation and General Information (Tables)
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Basis Of Presentation and General Information (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
List Of Subsidiaries (Table Text Block) |
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- Definition
Tabular disclosure of the entity's vessel owning subsidiaries. No definition available.
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- Details
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Acquisitions (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Agamemnon Container Carrier Corp
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price allocation (Table Text Block) |
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Identifiable intangible assets (Table Text Block) |
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Pro Forma Financial Information (Table Text Block) |
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Archimidis Container Carrier Corp
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price allocation (Table Text Block) |
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Identifiable intangible assets (Table Text Block) |
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Pro Forma Financial Information (Table Text Block) |
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Patroklos Marine Corporation
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price allocation (Table Text Block) |
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Identifiable intangible assets (Table Text Block) |
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Pro Forma Financial Information (Table Text Block) |
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Crude Carriers Corp
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Business Acquisition [Line Items] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Purchase price allocation (Table Text Block) |
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Pro Forma Financial Information (Table Text Block) |
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- Definition
Tabular disclosure of above market acquired time charter. No definition available.
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- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions with Related Parties (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Transactions with Related Parties (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Balances and Transactions with Related Parties (Table Text Block) |
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Related Party Transactions Disclosure (Table Text Block) |
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Charter Agreements (Table Text Block) |
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Tabular disclosure of time charter agreements in effect. No definition available.
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- Definition
Tabular disclosure of related party transactions, as these have been reported in the income statement. No definition available.
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- Details
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X | ||||||||||
- Definition
Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. No definition available.
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Vessels (Tables)
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Dec. 31, 2012
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Vessels (Abstract) | ||||||||||||||||||||||||||||||||||
Vessels (Table Text Block) |
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- Definition
Tabular disclosure of the useful life and salvage value of long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Above market acquired charters (Tables)
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Dec. 31, 2012
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Above Market Acquired Charters (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Above Market Acquired Charters (Table Text Block) |
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Above Market Acquired Charter Future Amortization Expense (Table Text Block) |
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for above market acquired charter. No definition available.
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- Details
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- Definition
Tabular disclosure of above market acquired charters. No definition available.
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Long-Term Debt (Tables)
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Long-Term Debt (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank Loans (Table Text Block) |
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Schedule Of Credit Facilities Amounts Drawn Down (Table Text Block) |
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Required Annual Loan Payments (Table Text Block) |
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- Definition
Tabular disclosure of the drawn down amounts of credit facilities. No definition available.
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- Details
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- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
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X | ||||||||||
- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Instruments (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Derivative Instruments (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Derivative liabilities - Fair value (Table Text Block) |
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Derivative instruments - Balance Sheet (Table Text Block) |
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Schedule Of Derivative Instruments Gain (Loss) In Statement Of Financial Performance (Table Text Block) |
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Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis (Table Text Block) |
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Schedule Of Cash Flow Hedging Instruments (Table Text Block) |
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Schedule Of Derivatives Not Designated As Cash Flow Hedging Instruments (Table Text Block) |
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- Definition
Tabular disclosure of derivatives designated as hedging instruments. The disclosure may include , but not limited to, the fair value, the maturity date and the notional amount. No definition available.
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- Definition
Tabular disclosure of derivatives not designated as hedging instruments. The disclosure may include, but not limited to, the fair value, the maturity date and the notional amount. No definition available.
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- Details
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X | ||||||||||
- Definition
Tabular disclosure of the location and amount of gains and losses reported in the statement of financial performance, or when applicable, the statement of financial position. For example, (a) gains and losses recognized in the income statement on derivative instruments designated and qualifying as hedging instruments in fair value hedges and related hedged items designated and qualifying in fair value hedges and (b) gains and losses initially recognized in other comprehensive income on derivative instruments designated and qualifying as cash flow hedges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of derivative liabilities at fair value. No definition available.
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- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities Disclosure (Tables)
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12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Accrued Liabilities (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Accrued Liabilities (Table Text Block) |
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- Details
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- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
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Voyage Expenses And Vessel Operating Expenses (Tables)
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Dec. 31, 2012
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Voyage Expenses And Vessel Operating Expenses (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Voyage Expenses And Vessel Operating Expenses (Table Text Block) |
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Tabular disclosure of voyage and vessel operating expenses relating to the operation and maintenance of the vessels, which are not separately disclosed in the income statement. No definition available.
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Cash Flow (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Crude Carrier Corp Net Assets Not Included In Cash Flow
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Schedule Of Cash Flow Supplemental Disclosures (Table Text Block) |
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Vessel Owning Entities Acquired By Cmtc Net Liabilities Not Included In Cash Flow
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Schedule Of Cash Flow Supplemental Disclosures (Table Text Block) |
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Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
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Partners' Capital (Tables)
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Dec. 31, 2012
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Schedule of Incentive Distributions (Text Block) |
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Distribution to unitholders (Table Text Block) |
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- Definition
Tabular disclosure of payments of cash or stock or units made to members or limited partners of the LLC or LP during an accounting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Tabular disclosure of incentive payments in cash or stock or units paid during the accounting period to managing members or general partners of a limited liability corporation or limited partnership, as governed by the operating or partnership agreement. Disclosure may include identification of recipient, payments made, minimum distribution level, date payments are received, distributions per unit and per year, subsequent distribution amount and date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Omnibus Incentive Compensation Plan (Tables)
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Dec. 31, 2012
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Omnibus Incentive Compensation Plan (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Omnibus Incentive Compensation Plan (Table Text Block) |
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- Definition
Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net (Loss) / Income Per Unit (Tables)
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Dec. 31, 2012
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Net (Loss) / Income Per Unit (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule of (Loss)/ Income Per Unit Basic and Diluted (Table Text Block) |
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- Definition
Tabular disclosure of an entity's basic and diluted (loss)/ income per unit calculations. No definition available.
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Commitments and Contingencies (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2012
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Commitments and Contingencies (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Schedule Of Time And Bareboat Charter Agreements (Table Text Block) |
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Future minimum rental receipts (Table Text Block) |
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- Definition
Tabular disclosure of all the company's vessels under time and bareboat charter contracts. No definition available.
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- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Date when an entity was acquired by the Partnership No definition available.
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- Definition
The vessels' size in DWT. No definition available.
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- Definition
Date when an entity was incorporated No definition available.
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Basis Presentation General Information Supplementary (Tables) (Details)
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12 Months Ended |
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Dec. 31, 2012
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Capital Product Operating GP LLC
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Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items] | |
Date of Incorporation | Jan. 16, 2007 |
Crude Carriers Corp.(6)
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Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items] | |
Date of Incorporation | Oct. 29, 2009 |
Date Acquired by the Partnership | 30/09/2011 |
Crude Carriers Operating Corp. (6)
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Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items] | |
Date of Incorporation | Jan. 21, 2010 |
Date Acquired by the Partnership | 30/09/2011 |
Miltiadis M II Corp.
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Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items] | |
Date of Incorporation | Aug. 28, 2012 |
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- Definition
Date when an entity was acquired by the Partnership No definition available.
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- Definition
Date when an entity was incorporated No definition available.
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Basis of Presentation and General Information - Additional Information (Details)
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Dec. 31, 2012
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Property Plant And Equipment [Line Items] | |
Number of vessels | 25 |
Suezmax Crude Oil Tankers
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Property Plant And Equipment [Line Items] | |
Number of vessels | 4 |
Medium Range Tankers
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Property Plant And Equipment [Line Items] | |
Number of vessels | 18 |
Postpanamax Container Carrier Vessels
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Property Plant And Equipment [Line Items] | |
Number of vessels | 2 |
Capesize Bulk Carrier
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Property Plant And Equipment [Line Items] | |
Number of vessels | 1 |
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- Definition
Number of vessels owned by the partnership. No definition available.
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- Details
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Significant Accounting Policies - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
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Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Restricted cash | $ 10,500 | $ 6,750 | |
Allowance for doubtful accounts | $ 54 | ||
Scrap value per light weight ton (LWT) | $0.2 | ||
Vessels useful life | 25 years 0 months 0 days | ||
CMTC
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Major customer revenue percentage | 45.00% | 24.00% | |
British Petroleum Shipping Limited
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Major customer revenue percentage | 23.00% | 32.00% | 49.00% |
OSG
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Major customer revenue percentage | 11.00% | 11.00% | |
Morgan Stanley Capital Group Inc
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Major customer revenue percentage | 11.00% |
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- Definition
The scrap value of vessels per light weight ton (LWT). No definition available.
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- Definition
Percentage of revenue generated from a single external customer that accounts for 10 percent or more of an entity's revenues. No definition available.
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- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
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- Definition
Amount of the current period expense charged against operations, the offset which is generally to the allowance for doubtful accounts for the purpose of reducing receivables, including notes receivable, to an amount that approximates their net realizable value (the amount expected to be collected). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Agamemnon Container Carrier Corp (M/V Agamemnon) - Purchase Price Allocation (Table) (Details) (Agamemnon Container Carrier Corp, USD $)
In Thousands, unless otherwise specified |
Dec. 22, 2012
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Agamemnon Container Carrier Corp
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Business Acquisition [Line Items] | |
Vessel | $ 68,000 |
Above market acquired time charter | 2,250 |
Identifiable assets | 70,250 |
Purchase price | $ (70,250) |
X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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- Definition
The fair value of the identifiable net assets acquired. No definition available.
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- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
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- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Agamemnon Container Carrier Corp (M/V Agamemnon) - Pro Forma Financial Information (Table) (Details) (Agamemnon Container Carrier Corp, USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |
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Dec. 31, 2012
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Dec. 31, 2011
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Agamemnon Container Carrier Corp
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Business Acquisition [Line Items] | ||
Total revenues | $ 154,227 | $ 137,065 |
Partnership's net income | 2,210 | 72,508 |
Partnership's net income available to preferred unit holders | 10,809 | 0 |
General Partner's interest in Partnership's net (loss) / income | (172) | 1,450 |
Common unit holders interest in Partnership's net (loss) / income | $ (8,427) | $ 71,058 |
Pro-forma weighted average of Partnership's common units outstanding | 68,256,072 | 47,138,336 |
Net (loss) / income per common unit (basic and diluted) | $ (0.12) | $ 1.51 |
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- Definition
The pro forma net income/ (loss) to each outstanding common limited partnership unit (basic and diluted) if the business combinations had been completed at the beginning of a period. No definition available.
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- Definition
The pro forma weighted average common units issued and outstanding that are used in calculating earnings per common limited partnership unit, if the business combination had been completed at the beginning of the period. No definition available.
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- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
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X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
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X | ||||||||||
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Agamemnon Container Carrier Corp (M/V Agamemnon) - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Dec. 22, 2012
Achilleas Carriers Corp
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Dec. 31, 2012
Achilleas Carriers Corp
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Dec. 31, 2012
Agamemnon Container Carrier Corp
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Dec. 31, 2012
Agamemnon Container Carrier Corp
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Dec. 22, 2012
Agamemnon Container Carrier Corp
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Business Acquisition [Line Items] | ||||||||
Fair value of assets exchanged | $ 68,875 | |||||||
Cash consideration for acquisition of vessel | 1,375 | |||||||
Duration of above market acquired time charter | 2 years 6 months 30 days | |||||||
WACC used for calculation of above market acquired time charter | 11.00% | |||||||
Acquisition related costs | 5 | |||||||
Charter Revenues | 84,012 | 98,517 | 113,562 | 318 | ||||
Net (loss) / income | (21,189) | 87,120 | 18,919 | 185 | ||||
Vessel impairment (Notes 3, 5) | $ 43,178 | $ 0 | $ 0 | $ 21,614 |
X | ||||||||||
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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- Definition
The fair value of assets exchanged. No definition available.
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
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X | ||||||||||
- Definition
Amount of cash paid to acquire the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Archimidis Container Carrier Corp (M/V Archimidis) - Purchase Price Allocation (Table) (Details) (Archimidis Container Carrier Corp, USD $)
In Thousands, unless otherwise specified |
Dec. 22, 2012
|
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Archimidis Container Carrier Corp
|
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Business Acquisition [Line Items] | |
Vessel | $ 65,000 |
Above market acquired time charter | 2,250 |
Identifiable assets | 67,250 |
Purchase price | $ (67,250) |
X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
X | ||||||||||
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
X | ||||||||||
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
X | ||||||||||
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Acquisition of Archimidis Container Carrier Corp (M/V Archimidis) - Pro Forma Financial Information (Table) (Details) (Archimidis Container Carrier Corp, USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Archimidis Container Carrier Corp
|
||
Business Acquisition [Line Items] | ||
Total revenues | $ 155,011 | $ 139,890 |
Partnership's net income | 2,746 | 72,813 |
Partnership's net income available to preferred unit holders | 10,809 | 0 |
General Partner's interest in Partnership's net (loss) / income | (161) | 1,456 |
Common unit holders interest in Partnership's net (loss) / income | $ (7,902) | $ 71,357 |
Pro-forma weighted average of Partnership's common units outstanding | 68,256,072 | 47,138,336 |
Net (loss) / income per common unit (basic and diluted) | $ (0.12) | $ 1.51 |
X | ||||||||||
- Definition
The pro forma net income/ (loss) to each outstanding common limited partnership unit (basic and diluted) if the business combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
The pro forma weighted average common units issued and outstanding that are used in calculating earnings per common limited partnership unit, if the business combination had been completed at the beginning of the period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Details
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X | ||||||||||
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Archimidis Container Carrier Corp (M/V Archimidis) - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 22, 2012
Alexander the Great Carriers Corp
|
Dec. 31, 2012
Alexander the Great Carriers Corp
|
Dec. 31, 2012
Archimidis Container Carrier Corp
|
Dec. 31, 2012
Archimidis Container Carrier Corp
|
Dec. 22, 2012
Archimidis Container Carrier Corp
|
|
Business Acquisition [Line Items] | ||||||||
Fair value of assets exchanged | $ 68,875 | |||||||
Cash consideration received for acquisition of vessel | 1,625 | |||||||
Acquisition related costs | 5 | |||||||
Duration of above market acquired time charter | 2 years 11 months 18 days | |||||||
WACC used for calculation of above market acquired time charter | 11.00% | |||||||
Charter Revenues | 84,012 | 98,517 | 113,562 | 321 | ||||
Net (loss) / income | (21,189) | 87,120 | 18,919 | 178 | ||||
Vessel impairment (Notes 3, 5) | $ 43,178 | $ 0 | $ 0 | $ 21,564 |
X | ||||||||||
- Definition
Cash consideration received as a result of a business acquisition. No definition available.
|
X | ||||||||||
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
X | ||||||||||
- Definition
The fair value of assets exchanged. No definition available.
|
X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
|
X | ||||||||||
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisition of Patroklos (M/V Cape Agamemnon) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 5 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Jun. 09, 2011
Patroklos Marine Corporation
|
|
Business Acquisition [Line Items] | ||||
Vessel | $ 51,500 | |||
Above market acquired time charter | 48,551 | |||
Identifiable assets | 100,051 | |||
Purchase price | (83,525) | |||
Gain from bargain purchase | $ 0 | $ 82,453 | $ 0 | $ 16,526 |
X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
X | ||||||||||
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
X | ||||||||||
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
X | ||||||||||
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisition of Patroklos (M/V Cape Agamemnon) - Pro Forma Financial Information (Table) (Details) (Patroklos Marine Corporation, USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Patroklos Marine Corporation
|
||
Business Acquisition [Line Items] | ||
Total revenues | $ 134,473 | $ 128,671 |
Partnership's net income | 72,807 | 35,819 |
General Partner's interest in Partnership's net income | 1,456 | 716 |
Limited Partners' interest in Partnership's net income | $ 71,351 | $ 35,103 |
Pro-forma weighted average of Partnership's common units outstanding | 50,314,281 | 35,491,287 |
Net income per common unit (basic and diluted) | $ 1.39 | $ 0.98 |
X | ||||||||||
- Definition
The pro forma net income/ (loss) to each outstanding common limited partnership unit (basic and diluted) if the business combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
The pro forma weighted average common units issued and outstanding that are used in calculating earnings per common limited partnership unit, if the business combination had been completed at the beginning of the period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to limited partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisition of Patroklos (M/V Cape Agamemnon) - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Jun. 30, 2011
|
Jun. 09, 2011
|
Jun. 30, 2011
Patroklos Marine Corporation
|
Dec. 31, 2011
Patroklos Marine Corporation
|
Jun. 09, 2011
Patroklos Marine Corporation
|
Dec. 31, 2011
Patroklos Marine Corporation - Cash
|
Dec. 31, 2011
Patroklos Marine Corporation - Credit Facility Utilized
|
Jun. 09, 2011
Capital Maritime And Trading Corp
|
Dec. 31, 2011
Capital General Partners
|
Jun. 30, 2011
Partnership Units
|
Sep. 30, 2011
Partnership General Partner
|
Jun. 09, 2011
Partnership General Partner
|
Jun. 09, 2011
Capital Product Partners LP
|
|
Business Acquisition [Line Items] | ||||||||||||||||
Duration of above market acquired time charter | 9 years 0 months 22 days | |||||||||||||||
WACC used for calculation of above market acquired time charter | 11.00% | |||||||||||||||
Business acquisition financing | $ 1,614 | $ 27,003 | $ 99,842 | $ 1,470 | $ 25,000 | |||||||||||
Acquisition related costs | 409 | |||||||||||||||
Common unit price | $ 8.2 | |||||||||||||||
Common unit price | $ 10.35 | |||||||||||||||
Number of common units issued | 6,958,000 | |||||||||||||||
Number of common units issued | 142,000 | |||||||||||||||
Conversion of common units to general partner units | 499,346 | 142,000 | ||||||||||||||
Proceeds from conversion to general partner units | 1,470 | |||||||||||||||
Interest of CGP in the partnership | 2.00% | |||||||||||||||
Charter Revenues | 84,012 | 98,517 | 113,562 | 5,305 | ||||||||||||
Net (loss) / income | $ (21,189) | $ 87,120 | $ 18,919 | $ 2,899 |
X | ||||||||||
- Definition
The number of common units issued as part of the consideration for the acquisition of a business. No definition available.
|
X | ||||||||||
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
X | ||||||||||
- Definition
The price of a common unit as quoted on the stock market. No definition available.
|
X | ||||||||||
- Definition
The price of a common unit. No definition available.
|
X | ||||||||||
- Definition
The equity interest of the general partner in the consolidated entity. No definition available.
|
X | ||||||||||
- Definition
Number of limited partner units converted into general partner units. No definition available.
|
X | ||||||||||
- Definition
This element represents payments for acquisitions and capitalized improvements of vessels. No definition available.
|
X | ||||||||||
- Definition
The proceeds received from the conversion of common units to general partners units. No definition available.
|
X | ||||||||||
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisition of Crude - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 9 Months Ended | ||
---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2011
Crude Carriers Corp
|
|
Business Acquisition [Line Items] | ||||
Current assets | $ 30,300 | |||
Vessel | 351,750 | |||
Total liabilities | (159,059) | |||
Net assets acquired and liabilities assumed | 222,991 | |||
Purchase price | (157,064) | |||
Gain from bargain purchase | $ 0 | $ 82,453 | $ 0 | $ 65,927 |
X | ||||||||||
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
X | ||||||||||
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
X | ||||||||||
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of acquisition cost of a business combination allocated to current assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount of acquisition cost of a business combination allocated to liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisition of Crude Pro Forma Financial Information (Table) (Details) (Crude Carriers Corp, USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Crude Carriers Corp
|
||
Business Acquisition [Line Items] | ||
Total revenues | $ 167,897 | $ 180,474 |
Partnership's net income | 18,274 | 89,613 |
General Partner's interest in Partnership's net income | 365 | 1,792 |
Limited Partners' interest in Partnership's net income | $ 17,909 | $ 87,821 |
Pro-forma weighted average of Partnership's common units outstanding | 65,472,309 | 52,069,715 |
Net income per common unit (basic and diluted) | $ 0.27 | $ 1.67 |
X | ||||||||||
- Definition
The pro forma net income/ (loss) to each outstanding common limited partnership unit (basic and diluted) if the business combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
The pro forma weighted average common units issued and outstanding that are used in calculating earnings per common limited partnership unit, if the business combination had been completed at the beginning of the period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to limited partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Acquisition of Crude - Additional Information (Table) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Jun. 30, 2011
|
Jun. 09, 2011
|
Sep. 30, 2011
Units issued to Crude Carriers Corp shareholders
|
Dec. 31, 2011
Crude Carriers Corp
|
Sep. 30, 2011
Crude Carriers Corp
|
Sep. 30, 2011
Acquisition Of Crude Carriers Corp By Partnership Crude Employee Equity Incentive Plan
|
Jun. 30, 2011
Partnership Units
|
Sep. 30, 2011
Partnership General Partner
|
Jun. 09, 2011
Partnership General Partner
|
Dec. 31, 2011
Capital General Partners
|
|
Business Acquisition [Line Items] | |||||||||||||
Purchase price consideration for the acquisition of Crude Carriers Corp - units issued to Crude Carriers Corp shareholders | $ 155,559 | $ 157,064 | |||||||||||
Common units issued | 24,344,176 | 142,000 | |||||||||||
Shares exchange ratio | 1.56 | ||||||||||||
Purchase price consideration of Crude Carriers Corp - fair value attributable to precombination services of Crude Carriers Corp Equity Incentive plan | 1,505 | ||||||||||||
Number of Crude Carriers' Corp incentive plan shares | 399,400 | ||||||||||||
Number of Partnership units after the conversion of Crude Carriers' Corp incentive plan shares | 623,064 | ||||||||||||
Number of general partner units converted | 499,346 | 142,000 | |||||||||||
Interest of CGP in the partnership | 2.00% | ||||||||||||
Acquisition related costs | 4,225 | ||||||||||||
Common unit price | $ 8.2 | $ 6.39 | |||||||||||
Common unit price used to determine the exchange ratio of the unit for share transaction | $ 10.35 | $ 11.27 | |||||||||||
Charter Revenues | 84,012 | 98,517 | 113,562 | 13,327 | |||||||||
Net (loss) / income | $ (21,189) | $ 87,120 | $ 18,919 | $ 1,399 |
X | ||||||||||
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
X | ||||||||||
- Definition
The price of a common unit as quoted on the stock market. No definition available.
|
X | ||||||||||
- Definition
The price of a common unit. No definition available.
|
X | ||||||||||
- Definition
The fair value attributable to precombination services of Crude Carriers Corp incentive plan award. No definition available.
|
X | ||||||||||
- Definition
The equity interest of the general partner in the consolidated entity. No definition available.
|
X | ||||||||||
- Definition
Number of Crude Carriers Corp. shares converted to limited partner units. No definition available.
|
X | ||||||||||
- Definition
Number of limited partner units converted into general partner units. No definition available.
|
X | ||||||||||
- Definition
The unit per share transaction at a ratio of 1.56 common partnership's units for each Crude Carrier's Corp share. No definition available.
|
X | ||||||||||
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Transactions with Related Parties - Consolidated Balance Sheets (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Liabilities: | ||
Due to related parties | $ 17,447 | $ 10,572 |
Deferred revenue - current (f) | 10,302 | 7,739 |
Manager - payments on behalf of the Partnership (a)
|
||
Liabilities: | ||
Due to related parties | 15,957 | 8,138 |
Management fee payable to CSM (b)
|
||
Liabilities: | ||
Due to related parties | 1,490 | 2,434 |
Capital Maritime And Trading Corp
|
||
Liabilities: | ||
Deferred revenue - current (f) | 4,637 | 4,225 |
Total liabilities | $ 22,084 | $ 14,797 |
X | ||||||||||
- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Transactions with Related Parties - Consolidated Statements of Comprehensive (Loss) Income (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Related Party Transaction [Line Items] | |||
Revenues (c) | $ 69,938 | $ 31,799 | $ 11,030 |
Vessel operating expenses | 23,634 | 30,516 | 30,261 |
Voyage expenses | 554 | 165 | 0 |
General and administrative expenses (d) | 9,159 | 10,609 | 3,506 |
Interest expense and finance cost (e) | 26,658 | 33,820 | 33,259 |
Capital Ship Management Corp
|
|||
Related Party Transaction [Line Items] | |||
General and administrative expenses (d) | 3,092 | 1,630 | 1,103 |
Interest expense and finance cost (e) | $ 0 | $ 0 | $ 210 |
X | ||||||||||
- Definition
Revenues arising from services provided to related parties according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
X | ||||||||||
- Definition
Related party vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
|
X | ||||||||||
- Definition
Related party vessel voyage expenses are direct expenses to charter revenues. No definition available.
|
X | ||||||||||
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Transactions with Related Parties - Charter Revenues (Table) (Details)
|
12 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2013
M/T Agisilaos
|
Dec. 31, 2012
M/T Agisilaos
|
Dec. 31, 2011
M/T Agisilaos
|
Dec. 31, 2011
M/T Agisilaos
|
Dec. 31, 2013
M/T Arionas
|
Dec. 31, 2012
M/T Arionas
|
Dec. 31, 2011
M/T Arionas
|
Dec. 31, 2013
M/T Axios
|
Dec. 31, 2011
M/T Axios
|
Dec. 31, 2013
M/T Alkiviadis
|
Dec. 31, 2012
M/T Alkiviadis
|
Dec. 31, 2012
M/T Amore Mio II
|
Dec. 31, 2011
M/T Amore Mio II
|
Dec. 31, 2013
M/T Avax
|
Dec. 31, 2012
M/T Avax
|
Jan. 31, 2013
M/T Akeraios
|
Dec. 31, 2012
M/T Akeraios
|
Dec. 31, 2013
M/T Apostolos
|
Dec. 31, 2012
M/T Miltiadis M II
|
Dec. 31, 2012
M/T Alexander The Great
|
Dec. 31, 2013
M/T Amoureux
|
Dec. 31, 2013
M/T Aias
|
Dec. 31, 2012
M/T Achilleas
|
|
Related Party Transaction [Line Items] | |||||||||||||||||||||||
Time charter (TC) in years | 1 TC | 1 TC | 1TC | 0.42 TC | 1 TC | 1 TC | 1 TC | 1TC | 1TC | 1 TC | 2TC | 0.9 to 1.2TC | 1 TC | 1 TC | 1 TC | 1 TC | 1 TC | 1 TC | 1 TC | 1 TC | 1+1+1 TC | 1+1+1 TC | 1 TC |
Commencement of charter | 09/2012 | 08/2011 | 03/2010 | 03/2011 | 11/2012 | 10/2011 | 10/2010 | 06/2012 | 02/2010 | 07/2012 | 06/2010 | 12/2011 | 01/2011 | 05/2012 | 05/2011 | 07/2012 | 07/2011 | 09/2012 | 03/2012 | 11/2011 | 10/2011 | 11/2011 | 01/2012 |
Termination or earliest expected redelivery | 08/2013 | 09/2012 | 03/2011 | 08/2011 | 10/2013 | 11/2012 | 10/2011 | 05/2013 | 03/2011 | 06/2013 | 06/2012 | 03/2012 | 12/2011 | 04/2013 | 05/2012 | 06/2013 | 07/2012 | 08/2013 | 09/2012 | 12/2012 | 11/2013 | 11/2013 | 12/2012 |
Gross daily hire rate | $13.5 | $13.5 | $12.0 | $13.0 | $13.8 | $13.8 | $12.0 | $14.0 | $12.8 | $13.4 | $13.0 | $18.25 | $25.3 | $14.0 | $14.0 | $14.0 | $14.0 | $14.0 | $18.3 | $28.0 | $20.0+$24.0+$28.0 | $20.0+$24.0+$28.0 | $28.0 |
Net daily hire rate | $13.3 | $13.3 | $11.9 | $12.8 | $13.6 | $13.6 | $11.9 | $13.8 | $12.6 | $13.2 | $12.8 | $18.0 | $25.0 | $13.8 | $13.8 | $13.8 | $13.8 | $13.8 | $18.0 | $27.7 | $19.8+$23.7+$27.7 | $19.8+$23.7+$27.7 | $27.7 |
X | ||||||||||
- Definition
The date of commencement of charter. No definition available.
|
X | ||||||||||
- Definition
The gross daily charter hire rate. No definition available.
|
X | ||||||||||
- Definition
The daily charter hire rate, net of commissions. No definition available.
|
X | ||||||||||
- Definition
The expected termination or earliest redelivery date of charter. No definition available.
|
X | ||||||||||
- Definition
The duration of time charter agreement. No definition available.
|
X | ||||||||||
- Details
|
Transactions with Related Parties - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2012
Capital Ship Management Corp
|
Dec. 31, 2011
Capital Ship Management Corp
|
Dec. 31, 2010
Capital Ship Management Corp
|
Dec. 31, 2011
M/T Attikos - Claim Proceeds
|
Mar. 18, 2012
Capital Product Partners LP Initial Fee Payable
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Dec. 31, 2012
Capital Product Partners LP Adjusted Fee Payable
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Related Party Transaction [Line Items] | ||||||
Sales and purchase fee | 1.00% | |||||
Commercial service fee | 1.25% | |||||
Management agreement termination fees | $ 9,000 | $ 9,500 | ||||
Additional fees related to unforeseen events | $ 1,850 | $ 1,237 | $ 1,966 | $ 710 |
X | ||||||||||
- Definition
This item represents the commercial services fee in all gross charter revenues generated by vessels of Crude Carriers Corp (a subsidiary of Capital Product Partners LP) for commercial services rendered. No definition available.
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X | ||||||||||
- Definition
Fees related to the termination of the Crude management agreement. No definition available.
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X | ||||||||||
- Definition
This item represents a sale and purchase fee as a percentage of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired by Crude Carriers, a subsidiary of Capital Product Partners LP. No definition available.
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X | ||||||||||
- Definition
Related party vessel operating expenses unforeseen events. No definition available.
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X | ||||||||||
- Details
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Vessels, net (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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|
Vessels (Abstract) | |||
Vessels carrying amount as at beginning of period | $ 1,073,986 | $ 707,339 | |
Acquisitions and improvements | 133,105 | 403,861 | |
Depreciation | (48,235) | (37,214) | (31,464) |
Disposals | (156,128) | ||
Impairment of vessels | (43,178) | 0 | 0 |
Vessels carrying amount as at end of period | $ 959,550 | $ 1,073,986 | $ 707,339 |
X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
This element represents costs for acquisitions and capitalized improvements of vessels. No definition available.
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X | ||||||||||
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
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X | ||||||||||
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
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Vessels, net (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | ||||||||
---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2012
M/T Attikos
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Dec. 31, 2012
M/T Aristofanis
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Jun. 09, 2011
Patroklos Marine Corp
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Sep. 30, 2011
Crude Carrier Corps Vessel Owning Companies
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Dec. 22, 2012
M/V Agamemnon
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Dec. 22, 2012
M/V Archimidis
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Dec. 22, 2012
M/T Achilleas and M/T Alexander the Great
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Property Plant And Equipment [Line Items] | ||||||||||
Fair value of vessels acquired | $ 51,500 | $ 351,750 | $ 68,000 | $ 65,000 | $ 137,750 | |||||
Vessels' impairment charge | 43,178 | 0 | 0 | 43,178 | ||||||
Date of vessel sale | Feb. 14, 2012 | Apr. 04, 2012 | ||||||||
DWT | 12,000 | 12,000 | ||||||||
Year built | 2005 | 2005 | ||||||||
Net proceeds from sale of vessel | 21,299 | 0 | 0 | 9,807 | 9,867 | |||||
Gain on sale of vessel | 1,296 | 0 | 0 | 943 | 353 | |||||
Vessel carrying value | 959,550 | 1,073,986 | 707,339 | 8,864 | 9,514 | 180,928 | ||||
Vessel improvements costs capitalized | 105 | 611 | ||||||||
Consideration for acquisition of Patroklos | $ 83,525 |
X | ||||||||||
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
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X | ||||||||||
- Definition
The cash proceeds net of commissions and expenses from the sale of vessels. No definition available.
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X | ||||||||||
- Definition
The vessel's size in DWT. No definition available.
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X | ||||||||||
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
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X | ||||||||||
- Definition
Vessel improvement expenses that were capitalized in the period. No definition available.
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X | ||||||||||
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
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X | ||||||||||
- Definition
The year that the vessel was built. No definition available.
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X | ||||||||||
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The difference between the sale price or salvage price and the book value of a property, plant, and equipment asset that was sold or retired during the reporting period. This element refers to the gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Date of acquisition or disposal, in CCYY-MM-DD format. No definition available.
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Above market acquired charters - Carrying Value (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | ||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
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Dec. 31, 2012
M/V Cape Agamemnon
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Dec. 31, 2011
M/V Cape Agamemnon
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Dec. 31, 2012
M/T Assos
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Dec. 31, 2011
M/T Assos
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Aug. 16, 2010
M/T Assos
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Dec. 31, 2012
M/V Agamemnon
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Dec. 31, 2011
M/V Agamemnon
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Dec. 31, 2012
M/V Archimidis
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Dec. 31, 2011
M/V Archimidis
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|
Acquired Finite Lived Intangible Assets [Line Items] | ||||||||||||
Carrying amount, beginning of period | $ 51,124 | $ 8,062 | $ 45,543 | $ 0 | $ 5,581 | $ 8,062 | $ 9,000 | $ 0 | $ 0 | $ 0 | $ 0 | |
Acquisitions | 4,500 | 48,551 | 0 | 48,551 | 0 | 0 | 2,250 | 0 | 2,250 | 0 | ||
Amortization | (7,904) | (5,489) | (938) | (5,372) | (3,008) | (2,488) | (2,481) | (23) | 0 | (21) | 0 | |
Carrying amount, end of period | $ 47,720 | $ 51,124 | $ 8,062 | $ 40,171 | $ 45,543 | $ 3,093 | $ 5,581 | $ 9,000 | $ 2,227 | $ 0 | $ 2,229 | $ 0 |
X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, for vessels acquired during the period. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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X | ||||||||||
- Details
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Above market acquired charters - Amortization Schedule (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
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Dec. 31, 2011
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Dec. 31, 2010
|
Aug. 16, 2010
|
---|---|---|---|---|
For the twelve months period ended December 31, | ||||
2013 | $ 9,498 | |||
2014 | 7,629 | |||
2015 | 6,493 | |||
2016 | 5,372 | |||
2017 | 5,357 | |||
Thereafter | 13,371 | |||
Total | 47,720 | 51,124 | 8,062 | |
M/V Cape Agamemnon
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||||
For the twelve months period ended December 31, | ||||
2013 | 5,357 | |||
2014 | 5,357 | |||
2015 | 5,357 | |||
2016 | 5,372 | |||
2017 | 5,357 | |||
Thereafter | 13,371 | |||
Total | 40,171 | 45,543 | 0 | |
M/T Assos
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||||
For the twelve months period ended December 31, | ||||
2013 | 2,481 | |||
2014 | 612 | |||
2015 | 0 | |||
2016 | 0 | |||
2017 | 0 | |||
Thereafter | 0 | |||
Total | 3,093 | 5,581 | 8,062 | 9,000 |
M/V Agamemnon
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||||
For the twelve months period ended December 31, | ||||
2013 | 863 | |||
2014 | 863 | |||
2015 | 501 | |||
2016 | 0 | |||
2017 | 0 | |||
Thereafter | 0 | |||
Total | 2,227 | 0 | 0 | |
M/V Archimidis
|
||||
For the twelve months period ended December 31, | ||||
2013 | 797 | |||
2014 | 797 | |||
2015 | 635 | |||
2016 | 0 | |||
2017 | 0 | |||
Thereafter | 0 | |||
Total | $ 2,229 | $ 0 | $ 0 |
X | ||||||||||
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, after year five following the latest balance sheet date. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the next rolling twelve months. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the fifth rolling twelve months following the latest balance sheet date. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the fourth rolling twelve months following the latest balance sheet date. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the third rolling twelve months following the latest balance sheet date. No definition available.
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X | ||||||||||
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the second rolling twelve months following the latest balance sheet date. No definition available.
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X | ||||||||||
- Details
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Long Term Debt - Total Debt (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
Debt Instrument [Line Items] | ||
Total debt | $ 458,365 | $ 633,580 |
Less: Current portion | 0 | 18,325 |
Long-term portion | 458,365 | 615,255 |
Issued In April,2007 maturing In June,2017 Capital Product Partners L.P. Bank Loan
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||
Debt Instrument [Line Items] | ||
Total debt | 250,850 | 366,500 |
Margin | 2.00% | |
Issued In March,2008 maturing In March,2018 Capital Product Partners L.P. Bank Loan
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||
Debt Instrument [Line Items] | ||
Total debt | 188,515 | 242,080 |
Margin | 3.00% | |
Issued In June,2011 maturing In March,2018 Capital Product Partners L.P. Bank Loan
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||
Debt Instrument [Line Items] | ||
Total debt | $ 19,000 | $ 25,000 |
Margin | 3.25% |
X | ||||||||||
- Definition
The credit facility margin. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The date the credit facility amount was drawn down. No definition available.
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long Term Debt - Annual Loan Payments (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Debt Instrument [Line Items] | ||
2016 | $ 87,319 | |
2017 | 234,369 | |
Thereafter | 136,677 | |
Total | 458,365 | 615,255 |
$370,000 Credit Facility (i)
|
||
Debt Instrument [Line Items] | ||
2016 | 51,900 | |
2017 | 198,950 | |
Total | 250,850 | |
$350,000 Credit Facility (ii)
|
||
Debt Instrument [Line Items] | ||
2016 | 31,419 | |
2017 | 31,419 | |
Thereafter | 125,677 | |
Total | 188,515 | |
$25,000 Credit Facility (iii)
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||
Debt Instrument [Line Items] | ||
2016 | 4,000 | |
2017 | 4,000 | |
Thereafter | 11,000 | |
Total | $ 19,000 |
X | ||||||||||
- Details
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X | ||||||||||
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Long-Term Debt - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 2 Months Ended | 1 Months Ended | 12 Months Ended | 5 Months Ended | 12 Months Ended | 5 Months Ended | 5 Months Ended | 0 Months Ended | 5 Months Ended | 12 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Apr. 04, 2012
$370,000 Credit Facility (i)
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Feb. 15, 2012
$370,000 Credit Facility (i)
|
Dec. 31, 2012
$370,000 Credit Facility (i)
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May 23, 2012
$350,000 Credit Facility (ii)
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Dec. 31, 2012
$350,000 Credit Facility (ii)
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May 23, 2012
$25,000 Credit Facility (iii)
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Dec. 31, 2012
$25,000 Credit Facility (iii)
|
May 23, 2012
All three Credit Facilities
|
May 23, 2012
$370,000 Term Loan
|
Jun. 06, 2012
Repayment of Debt
|
May 23, 2012
Repayment of Debt - Cash used from Cash and Cash Equivalents
|
Dec. 31, 2012
Long-Term Debt
|
Dec. 31, 2011
Long-Term Debt
|
Dec. 31, 2010
Long-Term Debt
|
|
Debt Instrument [Line Items] | |||||||||||||||||
Repayment of credit facility | $ 175,215 | $ 134,580 | $ 0 | $ 10,500 | $ 10,000 | $ 5,149 | $ 149,566 | $ 13,147 | |||||||||
Refinancing of Crude's outstanding debt using $350,000 credit facility | 134,580 | ||||||||||||||||
Line of credit facility, maximum borrowing capacity | 370,000 | 350,000 | 25,000 | ||||||||||||||
Line of credit facility amount drawn down | 25,000 | ||||||||||||||||
Repayment of debt - Net proceeds from issuance of preferred units | 136,419 | 103,602 | 136,419 | ||||||||||||||
Debt's original amount | 370,000 | ||||||||||||||||
Cancellation of undrawn tranche | 52,500 | ||||||||||||||||
Number of installments | 9 | 9 | 6 | ||||||||||||||
Quarterly periodic repayments | 7,855 | 1,000 | 12,975 | ||||||||||||||
Weighted average interest rate | 3.11% | 5.28% | |||||||||||||||
Credit facility amount not drawn down | 55,420 | ||||||||||||||||
Interest expense on long term debt | $ 26,658 | $ 33,820 | $ 33,259 | $ 25,788 | $ 32,216 | $ 31,634 | |||||||||||
Debt Instrument Covenant Description | The Partnership's credit facilities contain customary ship finance covenants, including restrictions as to: changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness, the mortgaging of vessels, the ratio of EBITDA to Net Interest Expenses shall be no less than 2:1, minimum cash requirement of $500 per vessel of which 50% may be constituted by undrawn commitments under the revolving facility, as well as the ratio of net Total Indebtedness to the aggregate Market Value of the total fleet shall not exceed 0.725:1. The credit facilities also contain the collateral maintenance requirement in which the aggregate average fair market value, of the collateral vessels shall be no less than 125% of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2012 and 2011 the Partnership was in compliance with all financial debt covenants. The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective vessel or vessels. Each also requires additional security, including: pledge and charge on current account; corporate guarantee from each of the twenty-five vessel-owning companies, and mortgage interest insurance. The Partnership's credit facilities contain a ''Market Disruption Clause'' where the lenders, at their discretion, may impose additional interest margin if their borrowing rate exceeds effective interest rate (LIBOR) stated in the loan agreement with the Partnership. For the years ended December 31, 2012, 2011 and 2010 the Partnership incurred an additional interest expense in the amount of $373, $1,290 and $1,468 respectively due to the ''Market Disruption Clause''. |
X | ||||||||||
- Definition
Cancellation of undrawn tranche under the credit facility. No definition available.
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X | ||||||||||
- Definition
Line of credit facility amount drawn down. No definition available.
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X | ||||||||||
- Definition
The number of quarterly installments. No definition available.
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X | ||||||||||
- Definition
Refinancing of debt. No definition available.
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X | ||||||||||
- Definition
The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of the required periodic payment applied to principal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Reflects the calculation as of the balance sheet date of the average interest rate weighted by the amount of long-term debt outstanding by type or by instrument at that time. No definition available.
|
X | ||||||||||
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
Derivative Instruments - Fair Value (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Derivative [Line Items] | ||
Short-term liabilities | $ 467 | $ 8,255 |
Long-term liabilities | 0 | 4,422 |
Total | 467 | 12,677 |
Interest Rate Swaps
|
||
Derivative [Line Items] | ||
Short-term liabilities | 467 | 8,255 |
Long-term liabilities | 0 | 4,422 |
Total | $ 467 | $ 12,677 |
X | ||||||||||
- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Derivative Instruments - Balance Sheet Location (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Derivatives Fair Value [Line Items] | ||
Derivative instruments long-term liabilities. | $ 0 | $ 4,422 |
Derivative instruments short-term liabilities | 467 | 8,255 |
Total Derivative Liabilities | 467 | 12,677 |
Derivatives designated as hedging instruments - effective hedges
|
||
Derivatives Fair Value [Line Items] | ||
Derivative instruments long-term liabilities. | 0 | 4,422 |
Derivative instruments short-term liabilities | 100 | 839 |
Total derivatives not designated as hedging instruments - ineffective hedges
|
||
Derivatives Fair Value [Line Items] | ||
Derivative instruments short-term liabilities | $ 367 | $ 7,416 |
X | ||||||||||
- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and which are expected to be extinguished or otherwise disposed of after one year or beyond the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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Derivative Instruments - Effective Portion (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) | $ 10,762 | $ 17,518 | $ 4,426 |
Amount of Gain/ (Loss) recognized in the consolidated statements of comprehensive (loss)/ income | 1,448 | 2,310 | 0 |
Interest rate swaps
|
|||
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) | (1,903) | (4,234) | (17,159) |
Interest expense and finance cost
|
|||
Amount of Gain (Loss) Recognized in OCI on Derivative (Effective Portion) | 10,762 | 17,518 | 4,426 |
Amount of Loss Reclassified from OCI into consolidated statements of comprehensive (loss) / income (Effective Portion) | (12,665) | (21,752) | (21,585) |
Gain on interest rate swap agreement
|
|||
Amount of Gain/ (Loss) recognized in the consolidated statements of comprehensive (loss)/ income | $ 1,448 | $ 2,310 | $ 0 |
X | ||||||||||
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
|
X | ||||||||||
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The effective portion of loss reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Derivative Instruments - Fair Value Measured on Recurring Basis (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Derivatives Fair Value [Line Items] | ||
Derivatives | $ (467) | $ (12,677) |
Quoted Prices in Active Markets for Identical Assets (Level 1)
|
||
Derivatives Fair Value [Line Items] | ||
Derivatives | 0 | 0 |
Significant Other Observable Inputs (Level 2)
|
||
Derivatives Fair Value [Line Items] | ||
Derivatives | (467) | (12,677) |
Significant Unobservable Inputs (Level 3)
|
||
Derivatives Fair Value [Line Items] | ||
Derivatives | $ 0 | $ 0 |
X | ||||||||||
- Definition
Fair values as of the balance sheet date of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Derivative Instruments - Fair Market Value of Hedging / Non hedging Derivatives (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||
---|---|---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
Derivative 1
|
Dec. 31, 2012
Derivative 2
|
Dec. 31, 2012
Derivative 3
|
Dec. 31, 2012
Total derivative instruments fair value
|
|
Bank | HSH Nordbank | HSH Nordbank | HSH Nordbank | |||
Currency | USD | USD | USD | |||
Notional amount | $ 11,500 | $ 1,584 | $ 46,000 | |||
Fixed rate | 3.895% | 4.099% | 3.525% | |||
Trade date | Apr. 24, 2008 | Aug. 14, 2008 | Mar. 25, 2008 | |||
Value date | Apr. 30, 2008 | Aug. 20, 2008 | Mar. 27, 2008 | |||
Maturity date | Mar. 28, 2013 | Mar. 28, 2013 | Mar. 27, 2013 | |||
Fair market value | $ 467 | $ 8,255 | $ 100 | $ 14 | $ 353 | $ 367 |
X | ||||||||||
- Definition
Identification of the name or type of counterparty to the derivative instrument. No definition available.
|
X | ||||||||||
- Definition
Date the derivative contract is valued. No definition available.
|
X | ||||||||||
- Definition
The ISO 3-letter code for the currency in which a contract to buy or sell is denominated. No definition available.
|
X | ||||||||||
- Definition
Fixed interest rate related to the interest rate derivative. No definition available.
|
X | ||||||||||
- Definition
Date the entity entered into the derivative contract, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Date the derivative contract matures, in CCYY-MM-DD format. No definition available.
|
X | ||||||||||
- Definition
Aggregate notional amount of interest rate derivatives, which relates to the currency amount specified in the interest rate derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The amount represents the amortization of an ineffective cashflow derivative against the consolidated statements of comprehensive (loss) / income from accumulated other comprehensive loss. No definition available.
|
X | ||||||||||
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
|
X | ||||||||||
- Definition
Aggregate notional amount of interest rate derivatives that were terminated. No definition available.
|
X | ||||||||||
- Definition
Number of interest rate derivative instruments held by the entity previously. No definition available.
|
X | ||||||||||
- Definition
Number of interest swaps expired, under the credit facility. No definition available.
|
X | ||||||||||
- Definition
Number of interest rate swaps that were partially terminated under the credit facility. No definition available.
|
X | ||||||||||
- Definition
Number of interest rate swaps that were terminated under the credit facility. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings. No definition available.
|
X | ||||||||||
- Definition
Aggregate notional amount of interest rate derivatives, which relates to the currency amount specified in the interest rate derivative instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Number of interest rate derivative instruments held by the entity at the reporting date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Accrued Liabilities (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Accrued Liabilities (Abstract) | ||
Accrued loan interest and loan fees | $ 62 | $ 114 |
Accrued Operating Expenses | 1,311 | 834 |
Accrued voyage expenses and commissions | 909 | 848 |
Accrued General And Administartive Expenses | 499 | 490 |
Total | $ 2,781 | $ 2,286 |
X | ||||||||||
- Definition
Accrued general and administrative expenses. No definition available.
|
X | ||||||||||
- Definition
Accrued loan interest and loan fees. No definition available.
|
X | ||||||||||
- Definition
Accrued operating expenses. No definition available.
|
X | ||||||||||
- Definition
Accrued voyage expenses and commissions. No definition available.
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Voyage Expenses And Vessel Operating Expenses (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Vessel operating expenses: | |||
Crew costs and related costs | $ 13,230 | $ 2,963 | $ 551 |
Insurance expense | 2,830 | 784 | 69 |
Spares, repairs, maintenance and other expenses | 2,231 | 390 | 269 |
Stores and lubricants | 3,115 | 651 | 112 |
Management fees | 21,784 | 29,279 | 28,294 |
Vetting, insurances, spares and repairs (Note 4) | 1,850 | 1,237 | 1,966 |
Other operating expenses | 720 | 161 | 34 |
Total | 45,760 | 35,465 | 31,295 |
Voyage Expenses: | |||
Commissions | 1,752 | 1,844 | 1,279 |
Bunkers | 3,921 | 8,400 | 4,295 |
Port expenses | 0 | 1,390 | 1,412 |
Other | (5) | 96 | 23 |
Total | $ 5,668 | $ 11,730 | $ 7,009 |
X | ||||||||||
- Definition
Brokerage Commissions on contracted Charter Revenues. No definition available.
|
X | ||||||||||
- Definition
Crew wages and related costs. No definition available.
|
X | ||||||||||
- Definition
The total amount of other voyage costs and expenses items that are associated with the entity's normal revenue producing operation. No definition available.
|
X | ||||||||||
- Definition
The costs incurred relating to port expenses. No definition available.
|
X | ||||||||||
- Definition
The amount relating to the purchase of stores and lubricants consumed. No definition available.
|
X | ||||||||||
- Definition
Vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
|
X | ||||||||||
- Definition
Total vessel voyage expenses are direct expenses to charter revenues and consist of commissions, port expenses, canal dues, bunkers and other. No definition available.
|
X | ||||||||||
- Definition
Related party vessel operating expenses unforeseen events. No definition available.
|
X | ||||||||||
- Definition
The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Fuel costs incurred that are directly related to goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Insurance and claims costs directly related to goods produced and sold, or services rendered, during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate costs related to delivering management services during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Cash Flow - Crude's Net Assets (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2011
Crude Carrier Corp Net Assets Not Included In Cash Flow
|
---|---|---|---|---|
Cash Flow Information [Line Items] | ||||
Trade receivables | $ 2,346 | $ 3,415 | $ 8,321 | |
Prepayments and other assets | 1,259 | 1,496 | 629 | |
Inventories | 2,333 | 4,010 | 9,503 | |
Vessels | 959,550 | 1,073,986 | 707,339 | 351,750 |
Total assets | 1,070,128 | 1,196,289 | 370,203 | |
Trade accounts payable | 4,776 | 8,460 | 12,497 | |
Due to related parties | 17,447 | 10,572 | 10,457 | |
Accrued liabilities | 2,781 | 2,286 | 1,525 | |
Long Term Debt | 458,365 | 633,580 | 134,580 | |
Total liabilities | 496,300 | 678,963 | 159,059 | |
Total Net Assets | $ 211,144 |
X | ||||||||||
- Definition
The entity's net assets excluding cash. No definition available.
|
X | ||||||||||
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
|
X | ||||||||||
- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Cash Flow - Net Liabilities Assumed by CMTC (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
Vessel Owning Entities Acquired By Cmtc Net Liabilities Not Included In Cash Flow
|
---|---|---|---|
Cash Flow Information [Line Items] | |||
Trade receivables | $ 2,346 | $ 3,415 | $ 1,629 |
Due from related parties | 13,357 | ||
Prepayments and other assets | 1,259 | 1,496 | 76 |
Inventories | 2,333 | 4,010 | 146 |
Deferred charges | 2,021 | 2,138 | 65 |
Total assets | 1,070,128 | 1,196,289 | 15,273 |
Trade accounts payable | 4,776 | 8,460 | 401 |
Accrued liabilities | 2,781 | 2,286 | 332 |
Borrowings | 458,365 | 633,580 | 46,384 |
Total liabilities | 496,300 | 678,963 | 47,117 |
Net liabilities assumed by CMTC upon contribution to the Partnership | $ 31,844 |
X | ||||||||||
- Definition
Net liabilities assumed by Capital Maritime Trading Corp. No definition available.
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount (lower of cost or market) as of the balance sheet date of inventories less all valuation and other allowances. Excludes noncurrent inventory balances (expected to remain on hand past one year or one operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The total of the amounts paid in advance for capitalized costs that will be expensed with the passage of time or the occurrence of a triggering event, and will be charged against earnings within one year or the normal operating cycle, if longer, and the aggregate carrying amount of current assets, as of the balance sheet date, not separately presented elsewhere in the balance sheet. Current assets are expected to be realized or consumed within one year (or the normal operating cycle, if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Partners' Capital - Partnership Units (Table) (Details)
|
Dec. 31, 2012
|
Dec. 31, 2011
|
---|---|---|
Partners' Capital (Abstract) | ||
Common units | 69,372,077 | 69,372,077 |
General partner units | 1,415,757 | 1,415,757 |
Preferred units | 15,555,554 | 0 |
Total partnership units | 86,343,388 | 70,787,834 |
X | ||||||||||
- Definition
The number of general partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of each class of partnership units outstanding at the balance sheet date. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of preferred units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Partners' Capital Stockholders' Equity and Distributions - Distributions Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | |
---|---|---|
Dec. 31, 2012
|
Dec. 31, 2010
|
|
Partners' Capital (Abstract) | ||
May 23 And June 6 2012 Preferred Units Agreement Conversion Terms | Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (''VWAP'') and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the ''Partnership Mandatory Conversion Event'') the Partnership (acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full Board of Directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio. The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership's board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to this Agreement in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day. | |
Net proceeds from insuance of preferred units | $ 136,419 | $ 103,602 |
Conversion price of the Preferred units | $ 9 | |
Conversion rate of the Preferred units | 1 | |
Initial distribution to preferred unit holders | $ 0.26736 | |
Minimum distribution to preferred unit holders | $ 0.21375 | |
Annual distribution rate for preferred unit holders | 9.50% |
X | ||||||||||
- Definition
Annual dustribution rate for preferred unit-holders. No definition available.
|
X | ||||||||||
- Definition
Per unit distribution declared to preferred unit-holders. No definition available.
|
X | ||||||||||
- Definition
The minimum per unit amount to be declared to preferred unit-holders. No definition available.
|
X | ||||||||||
- Definition
Conversion terms for May 23 and June 6, 2012 Preferred units agreement. No definition available.
|
X | ||||||||||
- Definition
The price of conversion of convertible preferred units into common units. No definition available.
|
X | ||||||||||
- Definition
The rate of conversion of convertible preferred units into common units. No definition available.
|
X | ||||||||||
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Partners Capital Stockholders Equity and Distributions - Equity Offerings Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
1 Months Ended | 12 Months Ended | 1 Months Ended | 1 Months Ended | 12 Months Ended | ||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Aug. 31, 2010
|
Feb. 28, 2010
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Sep. 30, 2011
Units Issued To Crude Carriers Corp Shareholders
|
Sep. 30, 2011
Capital Maritime And Trading Corp Common Units
|
Sep. 30, 2011
Partnership General Partner
|
Jun. 09, 2011
Partnership General Partner
|
Jun. 09, 2011
Capital Maritime And Trading Corp
|
Jun. 30, 2011
Partnership Units
|
Jun. 09, 2011
Capital Product Partners LP
|
Aug. 31, 2010
Capital Product Partners LP
|
Feb. 28, 2010
Capital Product Partners LP
|
Aug. 31, 2010
Capital Maritime and Trading Corp contribution 1
|
Feb. 28, 2010
Capital Maritime and Trading Corp contribution 1
|
Aug. 31, 2010
Partnership General Partner Contribution 1
|
Feb. 28, 2010
Partnership General Partner Contribution 1
|
Aug. 31, 2010
Underwriters Exercise of Overallotment Options
|
Mar. 31, 2010
Underwriters Exercise of Overallotment Options
|
Aug. 31, 2010
Capital Maritime and Trading Corp contribution 2
|
Mar. 31, 2010
Capital Maritime and Trading Corp contribution 2
|
Aug. 31, 2010
Partnership General Partner Contribution 2
|
Mar. 31, 2010
Partnership General Partner Contribution 2
|
Dec. 31, 2011
Capital General Partners
|
|
Business Acquisition [Line Items] | |||||||||||||||||||||||||
Equity offering | 24,967,240 | 142,000 | 5,500,000 | 5,800,000 | 552,254 | 481,578 | |||||||||||||||||||
Number of common units converted | 69,372,077 | 69,372,077 | 499,346 | ||||||||||||||||||||||
Conversion of common units to general partner units | 499,346 | 142,000 | |||||||||||||||||||||||
Number of common units issued | 6,958,000 | ||||||||||||||||||||||||
Proceeds from conversion to general partner units | $ 1,470 | ||||||||||||||||||||||||
Net proceeds from equity offering | 45,460 | 48,886 | 4,540 | 4,055 | |||||||||||||||||||||
Issuance of general partner units | 136,419 | 103,602 | 969 | 1,048 | 97 | 87 | |||||||||||||||||||
Contribution by Capital Maritime And Trading Corp for the acquisition of General Partners units | 112,245 | 118,367 | 11,270 | 9,828 | |||||||||||||||||||||
Interest of CGP in the partnership | 2.00% | ||||||||||||||||||||||||
Dividends declared and paid | $ 73,316 | $ 45,116 | $ 33,665 |
X | ||||||||||
- Definition
The number of common units issued as part of the consideration for the acquisition of a business. No definition available.
|
X | ||||||||||
- Definition
The equity interest of the general partner in the consolidated entity. No definition available.
|
X | ||||||||||
- Definition
The cash inflow from the issuance of common limited partners units during the period, net of the underwriters commissions. No definition available.
|
X | ||||||||||
- Definition
Number of limited partner units converted into general partner units. No definition available.
|
X | ||||||||||
- Definition
The proceeds received from the conversion of common units to general partners units. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of general partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Omnibus Incentive Compensation Plan (Table) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2012
|
|
Employee equity compensation
|
|
Units | |
Unvested, beginning of period | 536,666 |
Vested | 198,531 |
Unvested, end of period | 338,135 |
Grant-date fair value | |
Unvested, beginning of period | $ 3,985 |
Vested | 1,464 |
Unvested, end of period | 2,521 |
Non-Employee equity compensation
|
|
Units | |
Unvested, beginning of period | 650,464 |
Vested | 0 |
Unvested, end of period | 650,464 |
Grant-date fair value | |
Unvested, beginning of period | 4,736 |
Vested | 0 |
Unvested, end of period | $ 4,736 |
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The fair value of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. No definition available.
|
X | ||||||||||
- Definition
The fair value of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. No definition available.
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Omnibus Incentive Compensation Plan - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 8 Months Ended | 12 Months Ended | 8 Months Ended | 2 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
Dec. 31, 2012
Partnerships Omnibus Incentive Compensation Plan
|
Jul. 22, 2010
Partnerships Omnibus Incentive Compensation Plan
|
Apr. 29, 2008
Partnerships Omnibus Incentive Compensation Plan
|
Aug. 25, 2010
Partnerships Omnibus Incentive Compensation Plan Employees
|
Dec. 31, 2012
Partnerships Omnibus Incentive Compensation Plan Employees
|
Aug. 31, 2010
Partnerships Omnibus Incentive Compensation Plan Non Employees
|
Dec. 31, 2012
Partnerships Omnibus Incentive Compensation Plan Non Employees
|
Mar. 01, 2010
Crude Carriers Corp. Equity Incentive Plan
|
Dec. 31, 2012
Crude Carriers Corp. Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Employee Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Non Employee Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Independent Committee
|
Dec. 31, 2012
Employee equity compensation
|
Dec. 31, 2011
Employee equity compensation
|
Dec. 31, 2010
Employee equity compensation
|
Aug. 25, 2010
Employee equity compensation
|
Dec. 31, 2012
Non-Employee equity compensation
|
Dec. 31, 2011
Non-Employee equity compensation
|
Dec. 31, 2010
Non-Employee equity compensation
|
|
Units / Shares authorized | 800,000 | 500,000 | 400,000 | ||||||||||||||||||||
Units granted | 448,000 | 347,200 | 399,400 | ||||||||||||||||||||
Number of annual installments | 3 | 3 | |||||||||||||||||||||
Vesting date of remaining awards | 2013-08-31 | 2013-08-31 | |||||||||||||||||||||
Shares exchange ratio | 1.56 | ||||||||||||||||||||||
Unvested shares | 205,000 | 194,400 | 338,135 | 536,666 | 650,464 | 650,464 | |||||||||||||||||
Number of units converted | 319,800 | 303,264 | |||||||||||||||||||||
Vested shares | 20,000 | 198,531 | 0 | ||||||||||||||||||||
Number of units vested and converted | 31,200 | ||||||||||||||||||||||
Value of unvested units accrued distribution | $ 1,823 | ||||||||||||||||||||||
Share based compensation | 3,826 | 2,455 | 782 | 1,834 | 1,358 | 420 | 1,992 | 1,097 | 362 | ||||||||||||||
Total unrecognized compensation cost | 1,216 | ||||||||||||||||||||||
Grant date unit price | $ 8.08 | ||||||||||||||||||||||
Expected period of recognition for unrecognized compensation cost | 0 years 7 months 25 days | ||||||||||||||||||||||
Total unrecognized compensation cost | $ 829 | ||||||||||||||||||||||
Grant date unit price | $ 6.58 | ||||||||||||||||||||||
Expected period of recognition for unrecognized compensation cost | 0 years 8 months 0 days |
X | ||||||||||
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to non employees under equity-based compensation awards that have yet to vest. No definition available.
|
X | ||||||||||
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
X | ||||||||||
- Definition
The number of units converted according to the unit per shares transaction of 1.56 common partrnership's units for each Crude Carrier's Corp. share. No definition available.
|
X | ||||||||||
- Definition
Number of equal annual installments for awards vested. No definition available.
|
X | ||||||||||
- Definition
The number of units which were vested and converted. No definition available.
|
X | ||||||||||
- Definition
The unit price at grant date. No definition available.
|
X | ||||||||||
- Definition
The unit price at the reporting date. No definition available.
|
X | ||||||||||
- Definition
The unit per share transaction at a ratio of 1.56 common partnership's units for each Crude Carrier's Corp share. No definition available.
|
X | ||||||||||
- Definition
The accrued amount of distribution, related to unvested units. No definition available.
|
X | ||||||||||
- Definition
The date when the remaining awards will be vested. No definition available.
|
X | ||||||||||
- Definition
As of the balance sheet date, the aggregate unrecognized cost of equity-based awards made to employees under equity-based compensation awards that have yet to vest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Net (Loss) / Income Per Unit (Table) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | ||
---|---|---|---|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Net (Loss) / Income Per Unit (Abstract) | |||
Partnership's net (loss) / income | $ (21,189) | $ 87,120 | $ 17,936 |
Less: | |||
Partnership's net income available to preferred unit holders | 10,809 | 0 | 0 |
General Partners' interest in Partnership's net (loss) / income | (640) | 1,742 | 359 |
Partnership's net (loss) / income allocable to unvested units | 0 | 1,571 | 147 |
Partnership's net (loss) / income available to common unit holders | $ (31,358) | $ 83,807 | $ 17,430 |
Denominators | |||
Weighted average number of common units outstanding, basic and diluted | 68,256,072 | 47,138,336 | 32,437,314 |
Net (loss) / income per common unit: | |||
Basic and diluted | $ (0.46) | $ 1.78 | $ 0.54 |
X | ||||||||||
- Definition
Aggregate amount of net income allocated to unvested common units. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of net income/loss allocated to outstanding common units. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of net income / (loss) allocated to general and limited partners. No definition available.
|
X | ||||||||||
- Definition
Net income (loss) allocated to each outstanding common limited partnership unit basic and diluted. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit basic and diluted. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of net Income or Loss for the period allocated to noncontrolling preferred unit holders in an entity included in the reporting entity's consolidated financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Net (Loss) / Income Per Unit - Additional Information (Details)
|
12 Months Ended | |
---|---|---|
Dec. 31, 2011
|
Dec. 31, 2010
|
|
Net (Loss) / Income Per Unit (Abstract) | ||
Antidilutive non vested units | 1,187,130 | 795,200 |
X | ||||||||||
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The charterer's name. No definition available.
|
X | ||||||||||
- Definition
The date of commencement of charter. No definition available.
|
X | ||||||||||
- Definition
The gross daily charter hire rate. No definition available.
|
X | ||||||||||
- Definition
Arrangement for profit sharing. No definition available.
|
X | ||||||||||
- Definition
The duration of time charter agreement. No definition available.
|
X | ||||||||||
- Details
|
Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2012
|
---|---|
For the years ended December 31, | |
2013 | $ 95,362 |
2014 | 73,347 |
2015 | 47,031 |
2016 | 19,839 |
2017 | 15,403 |
Thereafter | 38,445 |
Total | $ 289,427 |
X | ||||||||||
- Definition
Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Definition
Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Commitments and Contingencies - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended |
---|---|
Dec. 31, 2012
|
|
End of eighth year of charter
|
|
Property Plant And Equipment [Line Items] | |
Vessel Value Purchase Option | $ 38,000 |
End of ninth year of charter
|
|
Property Plant And Equipment [Line Items] | |
Vessel Value Purchase Option | 35,500 |
End of tenth year of charter
|
|
Property Plant And Equipment [Line Items] | |
Vessel Value Purchase Option | $ 33,000 |
M/V Archimidis and M/V Agamemnon
|
|
Property Plant And Equipment [Line Items] | |
Charter Terms | M/V 'Archimidis' and the M/V 'Agamemnon' are employed on time charters with the industry leader A.P. Moller-Maersk A.S. ('Maersk Line') at a gross day rate of US$34.0 per day with earliest redelivery in November 2015 and August 2015, respectively. Maersk Line has the option to extend the charter of both vessels for an additional four years at a gross day rate of US$31.5 and $30.5 per day, respectively for the fourth and fifth year and $32.0 per day for the final two years. If all options were to be exercised, the employment of the vessels would extend to July 2019 for the M/V 'Agamemnon' and December 2019 for the M/V 'Archimidis.' |
M/T Amore Mio II
|
|
Property Plant And Equipment [Line Items] | |
Charter Terms | For the period from March to December 2013 the rate for this charter will be $17.5. B.P. Shipping Ltd has the right to extend the charter for an additional 3-months option declarable by September 2013. |
M/T Aias and M/T Amoureux
|
|
Property Plant And Equipment [Line Items] | |
Charter Terms | The M/T 'Aias' and 'Amoureux' will be earning for the first 12 months of their time charter with CMTC a gross daily charter rate of $20.0 per day plus 50/50 profit share on actual earnings settled every 6 months. CMTC will have the option to extend the time charter employment for a second year at $24.0 per day and for a third year at $28.0 per day with the same profit share arrangements. |
X | ||||||||||
- Definition
The terms relating to a specific time charter. No definition available.
|
X | ||||||||||
- Definition
The consideration to be paid for the future purchase of a vessel. No definition available.
|
X | ||||||||||
- Details
|
Subsequent events (Details) (USD $)
|
1 Months Ended |
---|---|
Jan. 22, 2013
|
|
Common Unitholders
|
|
Dividend paid | $ 0.2325 |
Class B Unitholders
|
|
Dividend paid | $ 0.21375 |
X | ||||||||||
- Definition
Per-share or per-unit cash distributions paid to a common shareholder or unit-holder by an LLC or LP. No definition available.
|