Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2018 shares
Document and Entity Information
Document Type	20-F
Document Period End Date	Dec. 31, 2018
Amendment Flag	false
Entity Registrant Name	Capital Product Partners L.P.
Trading Symbol	CPLP
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	2018
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
General Partner
Document and Entity Information
Entity's units outstanding	348,570
Common Limited Partner
Document and Entity Information
Entity's units outstanding	18,178,100
Preferred Limited Partner
Document and Entity Information
Entity's units outstanding	12,983,333

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current assets
Cash and cash equivalents	$ 30,199	$ 63,297
Restricted cash (Note 7)	1,004	0
Trade accounts receivable	16,126	4,772
Prepayments and other assets	8,532	3,046
Inventories	8,699	5,315
Assets held for sale (Note 5)		29,027
Total current assets	64,560	105,457
Fixed assets
Vessels, net (Note 5)	1,229,782	1,265,196
Total fixed assets	1,229,782	1,265,196
Other non-current assets
Above market acquired charters (Note 6)	68,186	75,035
Deferred charges, net	2,220	1,519
Restricted cash (Note 7)	16,996	18,000
Prepayments and other assets	3,501	1,009
Total non-current assets	1,320,685	1,360,759
Total assets	1,385,245	1,466,216
Current liabilities
Current portion of long-term debt, net (Note 7)	52,348	50,514
Trade accounts payable	15,769	9,631
Due to related parties (Note 4)	17,742	14,234
Accrued liabilities (Note 9)	20,374	15,111
Deferred revenue, current (Note 4)	8,926	18,800
Liability associated with vessel held for sale (Notes 5, 7)		14,781
Total current liabilities	115,159	123,071
Long-term liabilities
Long-term debt, net (Note 7)	388,676	403,820
Deferred revenue	96	5,920
Total long-term liabilities	388,772	409,740
Total liabilities	503,931	532,811
Commitments and contingencies (Note 15)
Partners' capital
General Partner	15,436	16,427
Limited Partners - Common ( 18,178,100 units issued and outstanding at December 31, 2018 and 2017 (adjusted for the March 2019 Reverse Split))	755,372	806,472
Limited Partners - Preferred (12,983,333 Class B units issued and outstanding at December 31, 2018 and 2017)	110,506	110,506
Total partners' capital	881,314	933,405
Total liabilities and partners' capital	$ 1,385,245	$ 1,466,216

Consolidated Balance Sheets (Parentheticals) - shares	Dec. 31, 2018	Dec. 31, 2017
Consolidated Balance Sheets [Abstract]
Limited Partners - Common Units Issued (adjusted for the March 2019 Reverse Split)	18,178,100	18,178,100
Limited Partners - Common Units Outstanding (adjusted for the March 2019 Reverse Split))	18,178,100	18,178,100
Limited Partners - Preferred Units Issued	12,983,333	12,983,333
Limited Partners - Preferred Units Outstanding	12,983,333	12,983,333

Consolidated Statements of Comprehensive (Loss) / Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Revenue:
Revenues	$ 265,210	$ 204,462	$ 205,594
Revenues - related party (Note 4)	14,044	44,653	36,026
Total revenues	279,254	249,115	241,620
Expenses:
Voyage expenses (Note 10)	46,315	15,165	9,920
Voyage expenses - related party (Notes 4, 10)	0	0	360
Vessel operating expenses (Note 10)	86,389	74,516	66,637
Vessel operating expenses - related party (Notes 4, 10)	12,665	11,629	10,866
General and administrative expenses (Note 4)	5,716	6,234	6,253
Vessel depreciation and amortization (Note 5)	73,089	73,993	71,897
Impairment of vessels (Notes 5, 8)	28,805	3,282	0
Operating income	26,275	64,296	75,687
Other income / (expense), net:
Interest expense and finance cost (Note 7)	(27,397)	(26,605)	(24,302)
Other income	1,018	792	1,104
Total other expense, net	(26,379)	(25,813)	(23,198)
Partnership's net (loss) / income	(104)	38,483	52,489
Preferred unit holders' interest in Partnership's net income	11,101	11,101	11,101
General Partner's interest in Partnership's net (loss) / income	(211)	522	818
Common unit holders' interest in Partnership's net (loss) / income	$ (10,994)	$ 26,860	$ 40,570
Net (loss) / income per (Note 14):
Common unit, basic and diluted (adjusted for the March 2019 Reverse Split)	$ (0.6)	$ 1.51	$ 2.35
Weighted-average units outstanding:
Common units, basic and diluted (adjusted for the March 2019 Reverse Split)	18,100,455	17,692,192	17,114,761
Total Partnership's comprehensive (loss) / income:	$ (104)	$ 38,483	$ 52,489

Consolidated Statements of Changes in Partners' Capital - USD ($) $ in Thousands	Total	General Partner	Common Unitholders	Preferred Unitholders
Balance at Dec. 31, 2015	$ 937,820	$ 16,998	$ 810,239	$ 110,583
Distributions declared and paid (distributions of $3.22 in 2016, $2.24 in 2017 and $2.24 in 2018 per common unit (adjusted for the March 2019 Reverse Split) and $0.86 in 2016, $0.86 in 2017 and $0.86 in 2018 per preferred unit)	(68,193)	(1,131)	(55,884)	(11,178)
Partnership’s net (loss) / income	52,489	818	40,570	11,101
Issuance of Partnership's units (Note 12)	4,567		4,567
Equity compensation expense (Note 13)	1,074		1,074
Balance at Dec. 31, 2016	927,757	16,685	800,566	110,506
Distributions declared and paid (distributions of $3.22 in 2016, $2.24 in 2017 and $2.24 in 2018 per common unit (adjusted for the March 2019 Reverse Split) and $0.86 in 2016, $0.86 in 2017 and $0.86 in 2018 per preferred unit)	(51,630)	(780)	(39,749)	(11,101)
Partnership’s net (loss) / income	38,483	522	26,860	11,101
Issuance of Partnership's units (Note 12)	17,639		17,639
Equity compensation expense (Note 13)	1,156		1,156
Balance at Dec. 31, 2017	933,405	16,427	806,472	110,506
Distributions declared and paid (distributions of $3.22 in 2016, $2.24 in 2017 and $2.24 in 2018 per common unit (adjusted for the March 2019 Reverse Split) and $0.86 in 2016, $0.86 in 2017 and $0.86 in 2018 per preferred unit)	(52,600)	(780)	(40,719)	(11,101)
Partnership’s net (loss) / income	(104)	(211)	(10,994)	11,101
Equity compensation expense (Note 13)	613		613
Balance at Dec. 31, 2018	$ 881,314	$ 15,436	$ 755,372	$ 110,506

- Definition

The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest.

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+ Details

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash flows from operating activities:
Net (loss) / income	$ (104)	$ 38,483	$ 52,489
Adjustments to reconcile net (loss) / income to net cash provided by operating activities:
Vessel depreciation and amortization (Note 5)	73,089	73,993	71,897
Amortization and write off of deferred financing costs	1,784	1,262	1,250
Amortization of above market acquired charters (Note 6)	16,890	15,208	14,542
Equity compensation expense (Note 13)	613	1,156	1,074
Impairment of vessels (Notes 5, 8)	28,805	3,282	0
Changes in operating assets and liabilities:
Trade accounts receivable	(11,354)	(2,275)	183
Prepayments and other assets	(4,888)	486	(600)
Inventories	(3,219)	(719)	(354)
Trade accounts payable	5,495	2,764	(595)
Due to related parties	3,508	(1,861)	(6,059)
Accrued liabilities	5,281	7,624	662
Deferred revenue	(15,698)	(11,299)	24,267
Dry docking costs paid	(2,312)	(1,130)	(3,670)
Net cash provided by operating activities	97,890	126,974	155,086
Cash flows from investing activities:
Vessel acquisitions and improvements including time charter agreements (Notes 5, 6)	(44,265)	(2,038)	(90,782)
Net proceeds from sale of vessels	39,789	0	0
Net cash used in investing activities	(4,476)	(2,038)	(90,782)
Cash flows from financing activities:
Proceeds from issuance of Partnership units (Note 12)	0	17,815	4,546
Expenses paid for issuance of Partnership units	0	(247)	(784)
Proceeds from issuance of long-term debt (Note 7)	0	0	35,000
Payments of long-term debt (Note 7)	(73,818)	(129,262)	(17,354)
Deferred financing costs paid	(94)	(4,993)	(31)
Dividends paid (Note 12)	(52,600)	(51,630)	(68,193)
Net cash used in financing activities	(126,512)	(168,317)	(46,816)
Net (decrease) / increase in cash, cash equivalents and restricted cash	(33,098)	(43,381)	17,488
Cash, cash equivalents and restricted cash at the beginning of the year	81,297	124,678	107,190
Cash, cash equivalents and restricted cash at the end of the year	48,199	81,297	124,678
Supplemental Cash Flow Information
Cash paid for interest	24,952	19,646	23,763
Non-Cash Investing and Financing Activities
Capital expenditures included in liabilities	547	312	1,383
Offering expenses included in liabilities	0	35	106
Deferred financing costs included in liabilities	0	79	0
Capitalized dry docking costs included in liabilities	480	11	1,141
Assumption of loans regarding the acquisition of the shares of the companies owning the M/T Aristaios, the M/T Anikitos and the M/T Amor (Notes 3, 5, 7)	43,958	0	15,750
Units issued to acquire Filonikis (Note 3)	0	0	911
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	30,199	63,297	106,678
Restricted cash - Current assets	1,004	0
Restricted cash - Non-current assets	16,996	18,000	18,000
Cash, cash equivalents and restricted cash at the end of the year	$ 48,199	$ 81,297	$ 124,678

Basis of Presentation and General Information

12 Months Ended

Dec. 31, 2018

Basis of Presentation and General Information [Abstract]

Basis of Presentation and General Information

1. Basis of Presentation and General Information

Capital Product Partners, L.P. was formed on January 16, 2007, under the laws of the Marshall Islands. Capital Product Partners, L.P. and its fully owned subsidiaries (collectively the “Partnership”) is an international shipping company. As of December 31, 2018, its fleet of thirty- six high specification vessels consisted of three suezmax crude oil tankers, twenty-one modern medium range tankers, all of which are classed as IMO II/III chemical/product carriers, one aframax crude-oil tanker, (the “Crude and Product tanker business”), ten 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 DSS Transaction

On November 27, 2018, the Partnership entered into a definitive transaction agreement (the “Transaction Agreement”) with DSS Holdings L.P. (“DSS”), a privately held third party company, pursuant to which the Partnership agreed to spin off its Crude and Product tanker business into a separate publicly listed company which would combine with DSS’s businesses and operations in a share-to-share transaction (the “DSS Transaction”).

Pursuant to the Transaction Agreement:

(a) the Partnership agreed to establish a number of entities for the implementation of the DSS Transaction, including Athena SpinCo Inc. (“Athena”);

(b) the Partnership agreed to contribute to Athena the Crude and Product tanker business, associated inventories, $10,000 in cash plus prorated charter hire and net payments received from the lockbox date (determined in accordance with the terms of the Transaction Agreement) with specific arrangements relating to the funding of working capital (the “separation”);

(c) the Partnership agreed to distribute all 12,725,000 shares of common stock of Athena (renamed Diamond S Shipping Inc. or “Diamond S”) that it owned by way of a pro rata distribution to holders of the Partnership’s common and general partner units (the “distribution”);

(d) immediately following the distribution, there would be a series of mergers as a result of which Diamond S would acquire the business and operations of DSS (the “combination”). In the combination, Diamond S would issue additional shares of Diamond S common stock to DSS in such amount as to reflect the relative net asset values of the respective businesses and the agreed implied premium on the net asset value of the Crude and Product tanker business; and

(e) DSS entered into several firm commitments for a syndicated five-year term loan and revolving credit facility of up to $360,000 with a syndicate of global shipping banks, and agreed to turn over net proceeds in such amount as to partially prepay a portion of the loans outstanding under the Partnership’s existing credit facilities, redeem the Partnership’s Class B Units and fund transaction expenses.

The DSS Transaction was completed on March 27, 2019.

Effective March 27, 2019, the Partnership effected a one for seven reverse unit split of its issued and outstanding common and general partner units (the “March 2019 Reverse Split”) (Note 14). All units and per units amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented.

The consolidated financial statements include Capital Product Partners, L.P. and the following wholly owned subsidiaries which were all incorporated or formed under the laws of the Marshall Islands and Liberia.

Subsidiary	Date of Incorporation	Name of Vessel Owned by Subsidiary	Deadweight “DWT”	Date acquired by the Partnership	Date acquired by Capital Maritime & Trading Corp. (“CMTC”)
Capital Product Operating LLC	01/16/2007	—	—	—	—
Crude Carriers Corp.	10/29/2009	—	—	09/30/2011	—
Crude Carriers Operating Corp.	01/21/2010	—	—	09/30/2011	—
Shipping Rider Co.	09/16/2003	M/T Atlantas II	36,760	04/04/2007	04/26/2006
Canvey Shipmanagement Co.	03/18/2004	M/T Assos	47,872	08/16/2010 04/04/2007	05/17/2006
Centurion Navigation Limited	08/27/2003	M/T Aktoras	36,759	04/04/2007	07/12/2006
Polarwind Maritime S.A.	10/10/2003	M/T Agisilaos	36,760	04/04/2007	08/16/2006
Carnation Shipping Company	11/10/2003	M/T Arionas	36,725	04/04/2007	11/02/2006
Apollonas Shipping Company	02/10/2004	M/T Avax	47,834	04/04/2007	01/12/2007
Tempest Maritime Inc.	09/12/2003	M/T Aiolos	36,725	04/04/2007	03/02/2007
Iraklitos Shipping Company	02/10/2004	M/T Axios	47,872	04/04/2007	02/28/2007
Epicurus Shipping Company	02/11/2004	M/T Atrotos	47,786	03/01/2010 05/08/2007	05/08/2007
Laredo Maritime Inc.	02/03/2004	M/T Akeraios	47,781	07/13/2007	07/13/2007
Lorenzo Shipmanagement Inc.	05/26/2004	M/T Apostolos	47,782	09/20/2007	09/20/2007
Splendor Shipholding S.A.	07/08/2004	M/T Anemos I	47,782	09/28/2007	09/28/2007
Ross Shipmanagement Co.	12/29/2003	M/T Attikos (1)	12,000	09/24/2007	01/20/2005
Sorrel Shipmanagement Inc.	02/07/2006	M/T Alexandros II	51,258	01/29/2008	01/29/2008
Baymont Enterprises Incorporated	05/29/2007	M/T Amore Mio II (2)	159,982	03/27/2008	07/31/2007
Forbes Maritime Co.	02/03/2004	M/T Aristofanis (1)	12,000	04/30/2008	06/02/2005
Wind Dancer Shipping Inc.	02/07/2006	M/T Aristotelis II	51,226	06/17/2008	06/17/2008
Belerion Maritime Co.	01/24/2006	M/T Aris II	51,218	08/20/2008	08/20/2008
Mango Finance Corp.	07/14/2006	M/T Agamemnon II (1)	51,238	04/07/2009	11/24/2008
Navarro International S.A.	07/14/2006	M/T Ayrton II	51,260	04/13/2009	04/10/2009
Adrian Shipholding Inc.	06/22/2004	M/T Alkiviadis	36,721	06/30/2010	03/29/2006
Patroklos Marine Corp.	06/17/2008	M/V Cape Agamemnon	179,221	06/09/2011	01/25/2011
Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.	04/06/2006	M/T Miltiadis M II	162,397	09/30/2011	04/26/2006
Amoureux Carriers Corp.	04/14/2010	M/T Amoureux	149,993	09/30/2011	—
Aias Carriers Corp.	04/14/2010	M/T Aias	150,393	09/30/2011	—
Agamemnon Container Carrier Corp.	04/19/2012	M/V Agamemnon	108,892	12/22/2012	06/28/2012
Archimidis Container Carrier Corp.	04/19/2012	M/V Archimidis	108,892	12/22/2012	06/22/2012
Aenaos Product Carrier S.A.	10/16/2013	M/T Aristotelis (2)	51,604	11/28/2013	—
Anax Container Carrier S.A.	04/08/2011	M/V Hyundai Prestige	63,010	09/11/2013	02/19/2013
Hercules Container Carrier S.A.	04/08/2011	M/V Hyundai Premium	63,010	03/20/2013	03/11/2013
Iason Container Carrier S.A.	04/08/2011	M/V Hyundai Paramount	63,010	03/27/2013	03/27/2013
Thiseas Container Carrier S.A.	04/08/2011	M/V Hyundai Privilege	63,010	09/11/2013	05/31/2013
Cronus Container Carrier S.A.	07/19/2011	M/V Hyundai Platinum	63,010	09/11/2013	06/14/2013
Miltiadis M II Corp.	08/28/2012	—	—	—	—
Dias Container Carrier S.A.	05/16/2013	M/V CMA CGM Amazon	115,534	06/10/2015	06/10/2015
Poseidon Container Carrier S.A.	05/16/2013	M/V CMA CGM Uruguay	115,639	09/18/2015	09/18/2015
Isiodos Product Carrier S.A.	05/31/2013	M/T Active	50,136	03/31/2015	03/31/2015
Titanas Product Carrier S.A.	05/31/2013	M/T Amadeus	50,108	06/30/2015	06/30/2015
Atrotos Container Carrier S.A.	10/25/2013	M/V CMA CGM Magdalena	115,639	02/26/2016	02/26/2016
Filonikis Product Carrier S.A.	05/31/2013	M/T Amor	49,999	10/24/2016	09/30/2015
Asterias Crude Carrier S.A.	07/13/2015	M/T Aristaios	113,689	01/17/2018	01/10/2017
Iason Product Carrier S.A.	08/28/2013	M/T Anikitos	50,082	05/04/2018	06/21/2016
Athena SpinCo Inc.(3)	11/14/2018	—	—	—	—
Athena MergerCo 1 Inc.(3)	11/14/2018	—	—	—	—
Athena MergerCo 2 Inc.(3)	11/14/2018	—	—	—	—
Athena MergerCo 3 LLC.(3)	11/14/2018	—	—	—	—
Athena MergerCo 4 LLC (3)	11/14/2018	—	—	—	—
Vessels were disposed in the previous years. Vessels were disposed in 2018 (Note 5). Companies established for the purpose of the agreement between the Partnership and DSS.

Significant Accounting Policies

12 Months Ended

Dec. 31, 2018

Significant Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies

(a)Principles of Consolidation: The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), and include the accounts of the legal entities comprising the Partnership as discussed in Note 1. Intra-group balances and transactions have been eliminated upon consolidation.

(b)Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognized during the reporting period. Actual results could differ from those estimates.

(c)Accounting for Revenue, Voyage and Operating Expenses: The Partnership generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered on time charters, bareboat charters or voyage charters.

A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. A time charter generally provides typical warranties and owner protective restrictions. The performance obligations in a time charter are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to the owner of the vessel. Some of the Partnership’s time charters may also contain profit sharing provisions, under which the Partnership can realize additional revenues in the event that spot rates are higher than the base rates in these time charters. A bareboat charter is a contract in which the vessel owner provides the vessel to the charterer for a fixed period of time at a specified daily rate, which is generally payable in advance, and the charterer generally assumes all risk and costs of operation during the bareboat charter period. The time charter and bareboat contracts are considered operating leases and therefore do not fall under the scope of Accounting Standards Codification (“ASC”) 606 because (i) the vessel is an identifiable asset (ii) the owner of the vessel does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Revenues from time and bareboat charters are recognized ratably on a straight line basis over the period of the respective charter. Revenues from profit sharing arrangements in time charters are recognized in the period earned. Under time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer. Operating costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants are paid for by the Partnership under time charter agreements.

A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load port-to-discharge port basis, subject to various cargo handling terms. The Partnership accounts for a voyage charter when all the following criteria are met: (1) the parties to the contract have approved the contract in the form of a written charter agreement and are committed to perform their respective obligations, (2) the Partnership can identify each party’s rights regarding the services to be transferred, (3) the Partnership can identify the payment terms for the services to be transferred, (4) the charter agreement has commercial substance (that is, the risk, timing, or amount of the Partnership’s future cash flows is expected to change as a result of the contract) and (5) it is probable that the Partnership will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the charterer. The Partnership determined that its voyage charters consist of a single performance obligation which is met evenly as the voyage progresses and begin to be satisfied once the vessel is ready to load the cargo. The voyage charter party agreement generally has a demurrage clause according to which the charterer reimburses the vessel owner for any potential delays exceeding the allowed lay-time as per the charter party clause at the ports visited which is recorded as demurrage revenue. Revenues from voyage charters are recognized on a straight line basis over the voyage duration which commences once the vessel is ready to load the cargo and terminates upon the completion of the discharge of the cargo. In voyage charters vessel operating and voyage expenses are paid for by the Partnership. The voyage charters are considered service contracts which fall under the provisions of ASC 606 because the Partnership retains control over the operations of the vessels such as the routes taken or the vessels’ speed.

Deferred revenue represents cash received for undelivered performance obligations and deferred revenue resulting from straight-line revenue recognition in respect of charter agreements that provide for varying charter rates. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining as long-term liability.

Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and expensed over the related charter period and all the other voyage expenses are expensed as incurred except for expenses during the ballast portion of the voyage. Any expenses incurred during the ballast portion of the voyage (period between the contract date and the date of the vessel’s arrival to the load port) such as bunker expenses, canal tolls and port expenses are deferred and are recognized on a straight-line basis, in voyage expenses, over the voyage duration as the Partnership satisfies the performance obligations under the contract because these costs are (1) incurred to fulfill a contract that we can specifically identify, (2) able to generate or enhance resources of the company that will be used to satisfy performance of the terms of the contract, and (3) expected to be recovered from the charterer. These costs are considered ‘contract fulfillment costs’ and are included in ‘prepayments and other assets’ in the consolidated balance sheets.

Vessel operating expenses presented in the consolidated financial statements mainly consist of:

•Management fees payable to the Partnership’s manager, Capital Ship Management Corp. (the “Manager” or “CSM”) under three different types of Management agreements (Note 4); and

•Crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses.

Vessel operating expenses are expensed as incurred.

(d)Foreign Currency Transactions: The functional currency of the Partnership is the U.S. Dollar because the Partnership’s vessels operate in international shipping markets that utilize the U.S. Dollar as the functional currency. The accounting records of the Partnership are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. Dollar, are translated into the functional currency using the exchange rate at those dates. Gains or losses resulting from foreign currency transactions are included in other income in the accompanying consolidated statements of comprehensive (loss) / income.

(e)Cash and Cash Equivalents: The Partnership considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.

(f)Restricted cash: For the Partnership to comply with debt covenants under its credit facilities, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash.

(g)Trade Accounts Receivable: The amount shown as trade accounts receivable primarily consists of earned revenue that has not been billed yet or that it has been billed but not yet collected. At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate write off. As of December 31, 2018 and 2017 there were no write offs.

(h)Inventories: Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of disposal and transportation. The cost is determined by the first-in, first-out method.

(i)Vessels Held for Sale: The Partnership classifies vessels as being held for sale when the following criteria are met: (i) management is committed to sell the asset; (ii) the asset is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; (iv) the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale.

In the case that a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i) its carrying amount before the vessel was classified as held for sale, adjusted for any depreciation expense that would have been recognized if the vessel had been continuously classified as held and used and (ii) its fair value at the date of the subsequent decision not to sell.

(j)Fixed Assets: Fixed assets consist of vessels, which are stated at cost, less accumulated depreciation. Vessel cost consists of the contract price for the vessel and any material expenses incurred upon their construction (improvements and delivery expenses, on-site supervision costs incurred during the construction periods, as well as capitalized interest expense during the construction period). Vessels acquired through acquisition of businesses are recorded at their acquisition date fair values. The cost of each of the Partnership’s vessels is depreciated; beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel’s remaining economic useful life, after considering the estimated residual value. Management estimates the scrap value of the Partnership’s vessels to be $0.2 per light weight ton (LWT) and useful life to be 25 years.

(k)Impairment of Long-lived Assets: An impairment loss on long-lived assets is recognized when indicators of impairment are present and the carrying amount of the long-lived asset is greater than its fair value and not believed to be recoverable. In determining future benefits derived from use of long-lived assets, the Partnership performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the asset, including any related intangible assets and liabilities, exceeds its undiscounted future net cash flows, the carrying value is reduced to its fair value. Various factors including future charter rates and vessel operating costs are included in this analysis.

In recent years, changing market conditions resulted in a decrease in charter rates and values of assets. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its long-lived assets. The Partnership has performed an undiscounted cash flow test based on U.S. GAAP as of December 31, 2018 and 2017, determining undiscounted projected net operating cash flows for the vessels and comparing them to the carrying values of the vessels, and any related intangible assets and liabilities. 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 current deployment strategy. Based on these assumptions, the Partnership determined that the vessels held for use and their related intangible assets and liabilities were not impaired as of December 31, 2018 and 2017.

(l)Deferred charges, net: Deferred charges, net are comprised mainly of dry docking costs. The Partnership’s vessels are required to be dry docked every thirty to sixty months for major repairs and maintenance that cannot be performed while the vessels are under operation. The Partnership has adopted the deferral method of accounting for dry docking activities whereby costs incurred are deferred and amortized on a straight line basis over the period until the next scheduled dry docking activity.

(m)Intangible assets: The Partnership records all identified tangible and intangible assets or any liabilities associated with the acquisition of a business or an asset at fair value. When a vessel or a business that owns a vessel is acquired with an existing charter agreement, the Partnership considers whether any value should be assigned to the attached charter agreement acquired. The value to be assigned to the charter agreement is based on the difference of the contractual charter rate of the agreement acquired and the prevailing market rate for a charter of equivalent duration at the time of the acquisition, determined by independent appraisers as at that date. The resulting above-market (assets) or below-market (liabilities) charters are amortized using the straight line method as a reduction or increase, respectively, to revenues over the remaining term of the charters.

(n)Net Income Per Limited Partner Unit: Basic net income per limited partner unit is calculated by dividing the Partnership’s net income less net income allocable to preferred unit holders, general partner’s interest in net income (including incentive distribution rights) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 14). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised.

(o)Segment Reporting: The Partnership reports financial information and evaluates its operations by charter revenues and not by the length, type of vessel or type of ship employment for its customers, i.e. time or bareboat charters. The Partnership does not use discrete financial information to evaluate the operating results for each such type of charter or vessel. Although revenue can be identified for these types of charters or vessels, management cannot and does not identify expenses, profitability or other financial information for these various types of charters or vessels. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus the Partnership has determined that it operates as one reportable segment. Furthermore, when the Partnership charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.

(p)Omnibus Incentive Compensation Plan: Equity compensation expense represents vested and unvested units granted to employees and to non-employee directors, for their services as directors, as well as to non-employees and are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income. Units granted to employees are measured at their fair value equal to the market value of the Partnership’s common units on the grant date. Unvested units granted to non-employees are initially and subsequently measured at their then current fair value as of the financial reporting dates. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period. In addition, unvested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates (Note 13).

(q)Recent Accounting Pronouncements: In January 2017, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standard Update (“ASU”) 2017-01 Business Combinations to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Under prior implementation guidance the existence of an integrated set of acquired activities (inputs and processes that generate outputs) constitutes an acquisition of business. This ASU provides a screen to determine when a set of assets and activities does not constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This update was effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years. The amendments of this ASU should be applied prospectively on or after the effective date. Early adoption was permitted, including adoption in an interim period 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the ASU, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and 2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. During 2018 the Partnership adopted this ASU. The implementation of this ASU resulted in acquisitions of vessel owning companies being treated as asset acquisitions while under the old standard may have been treated as acquisitions of a business. However, there is no impact in the financial statements of the Partnership as in both cases the transaction price was allocated to the vessel and the attached time charter.

In November 2016 the FASB issued the ASU 2016-18 – Restricted cash. This ASU requires that a statement of cash flows explains the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. This update was effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years and is required to be applied retrospectively. Early adoption was permitted, including adoption in an interim period. The implementation of this update on January 1, 2018, affected the presentation in the statement of cash flows relating to changes in restricted cash which are presented as part of cash whereas previously the Partnership presented these within investing activities and had no impact on the Partnership’s balance sheet and statement of comprehensive (loss) / income.

In August 2016, the FASB issued the ASU 2016-15 – classification of certain cash payments and cash receipts. This ASU addresses certain cash flow issues with the objective of reducing the existing diversity in practice. This update was effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years. Early adoption was permitted, including adoption in an interim period. There was no impact from the adoption of this update as the classification of the related cash payments and cash receipts has always been reported as described in the ASU.

In February 2016, the FASB issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Accounting by lessors will remain largely unchanged from current U.S. GAAP. The requirements of this standard include an increase in required disclosures. The Partnership expects that its time charter arrangements will be subject to the requirements of the new Leases standard as the Partnership will be regarded as the lessor. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after the date of initial application, amended subsequently with ASU 2018-11 below adding an option to use certain transition relief. This standard is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leases standard, ASU 2016-02 (codified as ASC 842). Specifically, under the amendments in ASU 2018-11:

(a) Entities may elect not to recast the comparative periods presented when transitioning to ASC 842; and

(b) Lessors may elect not to separate lease and non-lease components when the following criteria are met: Criterion A — the timing and pattern of transfer for the lease component is the same as those for the non-lease component associated with that lease component and Criterion B — the lease component, if accounted for separately, would be classified as an operating lease.

The transition relief amendments in the ASU apply to entities that have not yet adopted ASC 842. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in Update 2016-02.

In December 2018, the FASB issued ASU 2018-20 to provide narrow scope improvements for lessors. The amendments in this update related to sales taxes and other similar taxes collected from lessees affect all lessors that elect the accounting policy election. In addition, amendments in this update related to lessor costs affect all lessor entities that have lease contracts that either require lessees to pay lessor costs directly to a third party or require lessees to reimburse lessors for costs paid by lessors directly to third parties. Finally, the amendments in this update related to recognition of variable payments for contracts with lease and non-lease components affect all lessor entities with variable payments that relate to both lease and non-lease components. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in ASU 2016-02. The Partnership adopted this standard for the reporting period commencing on January 1, 2019 and elected the practical expedient under ASU 2018-11 for the vessels under time charter agreements. Furthermore, the Partnership applied the transition provisions of ASU 2016-02 at its adoption date, rather than the earliest comparative period presented in the financial statements, as permitted by ASU 2018-11. The nature of the lease component and non-lease component that were combined as a result of applying the practical expedient are the contract for the hire of a vessel and the fees for operating and maintaining the vessel respectively. The lease component is the predominant component and the Partnership accounts for the combined component as an operating lease in accordance with Topic 842. The Partnership applied the topic 842 with no significant impact on its financial statements and as a result no adjustment was posted in the Partnership’s opening retained earnings as of January 1, 2019.

In May 2014, the FASB issued the ASU No 2014-09 Revenue from Contracts with Customers. ASU 2014-09, as amended, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The standard was effective for annual periods beginning after December 15, 2017, and interim periods therein, and shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The core principle is that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. Under ASC 606, an entity is required to perform the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations of the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfied a performance obligation. Additionally, the guidance requires improved disclosures as to the nature, amount, timing and uncertainty of revenue that is recognized. The Partnership adopted the provisions of ASC 606 on January 1, 2018 using the modified retrospective approach for contracts that are not completed at the date of initial application. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for periods prior to January 1, 2018. The effect of the implementation of this update was insignificant as most of the Partnership’s vessels were operated under time charter arrangements as of December 31, 2017 and as a result no adjustment was posted in the Partnership’s opening retained earnings as of January 1, 2018. Time charter contracts are considered operating leases and therefore do not fall under the scope of ASC 606 because (i) the vessel is an identifiable asset (ii) the Company does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Since the Partnership’s performance obligation under each voyage contract is met evenly as the voyage progresses, the revenue is recognized on a straight-line basis over the voyage days from the date the vessel is ready to load the cargo to completion of its discharge and is not related to the timing of payment received from its customers. Payment terms under voyage charters are disclosed in the relevant voyage charter agreements. Prior to the adoption of this standard, revenues generated under voyage charter agreements were recognized on a pro-rata basis over the period of the voyage which was deemed to commence upon the later of the completion of discharge of the vessel’s previous cargo or upon vessel’s arrival to the agreed upon port, and deemed to end upon the completion of discharge of the delivered cargo.

Further, the adoption of ASC 606 impacted the accounts receivable, the prepayments and other assets and the current liabilities on our balance sheet as of December 31, 2018. Under ASC 606, receivables represent an entity's unconditional right to consideration, billed or unbilled. As of December 31, 2018 prepayments and other assets include bunker expenses of $397 incurred between the contract date and the date of the vessel’s arrival to the load port. As of January 1, 2018 there was no balance relating to contract fulfillment costs. As of December 31, 2018 and 2017 the unearned revenue related to undelivered performance obligations amounted to $371 and $0 respectively. The Partnership will recognize this revenue in the first quarter of 2019 as the performance obligations are met.

The following table shows the revenues earned from time and bareboat charters and voyage charters for the year ended December 31, 2018:

	For the year ended December 31, 2018
Time and bareboat charters (operating leases)	$213,427
Voyage charters (accounted for under ASC 606)	65,827
Total	$279,254

The following table presents the impact of the adoption of ASU 2014-09 on our balance sheet at December 31, 2018:

	As at December 31, 2018
	As reported	Balances without adoption of ASU 2014-09	Effect of change
Assets Current Assets
Trade accounts receivable	$16,126	$17,526	$(1,400)
Prepayments and other assets	8,532	8,135	397
Liabilities
Current liabilities	115,159	115,194	35

The following table presents the impact of the adoption of ASU 2014-09 on our statement of comprehensive (loss) / income:

	For the year ended December 31, 2018
	As reported	Balances without adoption of ASU 2014-09	Effect of change
Total revenues	$279,254	$280,654	$(1,400)
Voyage expenses	46,315	46,747	432
Partnership’s net (loss) / income	(104)	864	(968)
Net loss per common unit basic and diluted (adjusted for the March 2019 Reverse Split)	(0.60)	(0.55)	(0.05)

The adoption of ASC 606 had no impact on net cash provided by operating activities, investing activities and financing activities for the year ended December 31, 2018.

Acquisitions

12 Months Ended

Dec. 31, 2018

Business Acquisitions [Abstract]

Acquisitions

3. Acquisition of Filonikis Product Carrier S.A. (M/T Amor)

On October 24, 2016, following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors, the Partnership acquired the shares of Filonikis, the owning company of the M/T Amor from CMTC for a total consideration of $16,911. The Partnership also assumed, on the acquisition date, CMTC’s guarantee with respect to the outstanding balance of $15,750 of the loan that Filonikis had entered into and was arranged by CMTC (Note 7). The vessel at the time of her acquisition by the Partnership was fixed on a two-year time charter with Cargill International S.A. (“Cargill”) ending October 2017, with the option to terminate 30 days earlier, and immediately thereafter with CMTC for a two-month period time charter.

The Partnership accounted for the acquisition of Filonikis as an acquisition of a business. All assets and liabilities of Filonikis except the vessel, necessary permits, the time charter agreements and the loan, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired and liabilities assumed.

•Purchase Price

The total purchase consideration of $16,911 was funded by $16,000 from the Partnership’s cash and the issuance of 40,528 new Partnership’s common units at a price of $22.47 per unit (both adjusted for the March 2019 Reverse Split) as quoted on the Nasdaq Stock Exchange on October 24, 2016 the day of the acquisition of Filonikis (Note 12).

•Acquisition related costs

Acquisition related costs of $264 are included in general and administrative expenses in the Partnership’s consolidated statement of comprehensive (loss) / income for the year ended December 31, 2016.

•Purchase price allocation

The allocation of the purchase price to acquired identifiable assets and liabilities assumed was based on their estimated fair values at the date of acquisition. The fair value allocated to each class of identifiable assets acquired and liabilities assumed of Filonikis was calculated as follows:

	As of October 24, 2016
Vessel	$ 31,600
Above market acquired time charters	$ 1,061

Identifiable assets	$ 32,661

Loan	$ (15,750)

Net assets acquired	$ 16,911

Purchase price	$ (16,911)

The Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. The fair value of the vessel of $31,600 was quoted by independent ship brokers at the time of her acquisition by the Partnership and the fair value of the loan of $15,750 was determined to be its face value.

•Identifiable intangible assets

The following table sets forth the component of the identifiable intangible asset acquired on the purchase of Filonikis which is being amortized over its duration on a straight-line basis as a reduction of revenue:

Intangible

assets

As of

October 24,

2016

Duration of

time charters

acquired

Above market acquired time charter

$1,061

1 year

The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as provided by independent ship brokers on the business combination date discounted at a WACC of 7.5%.

Total revenues and net income of Filonikis since its acquisition by the Partnership were $980 and $222 respectively and are included in the Partnership’s consolidated statement of comprehensive income for the year ended December 31, 2016.

•Unaudited Pro Forma Financial Information

The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:

•The Partnership’s actual results of operations for the year ended December 31, 2016 and

•Pro forma results of operations of Filonikis for the period from January 1, 2016 to October 24, 2016 as if the vessel was operating under post acquisition revenue and cost structure.

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 Filonikis occurred on September 30, 2015 (vessel inception):


	For the year ended December 31, 2016
Total revenues	$245,825
Partnership’s net income	$53,677
Preferred unit holders’ interest in Partnership’s net income	$11,101
General Partner’s interest in Partnership’s net income	$850
Common unit holders interest in Partnership’s net income	$41,726
Net income per common unit basic and diluted (adjusted for the March 2019 Reverse Split)	$2.42

Transactions with Related Parties

12 Months Ended

Dec. 31, 2018

Transactions with Related Parties [Abstract]

Transactions with Related Parties

4. Transactions with Related Parties

The Partnership and its subsidiaries have related party transactions, including vessels acquisitions, with CMTC which is a related party unit holder. The Partnership and its subsidiaries have also related party transactions with the Manager arising from certain terms of the following three different types of management agreements.

1.Fixed fee management agreement: At the time of the completion of its Initial Public Offering (“IPO”), the Partnership entered into an agreement with its Manager, according to which the Manager provides the Partnership with certain commercial and technical management services for a fixed daily fee per managed vessel which covers the commercial and technical management services, the respective vessels’ operating costs such as crewing, repairs and maintenance, insurance, stores, spares, and lubricants as well as the cost of the first special survey or next scheduled dry-docking, of each vessel. In addition to the fixed daily fees payable under the management agreement, the Manager is entitled to supplementary compensation for additional fees and costs (as defined in the agreement) of any direct and indirect additional expenses it reasonably incurs in providing these services, which may vary from time to time. For the years ended December 31, 2018, 2017 and 2016 management fees under the fixed fee management agreement amounted to $117, $488 and $981, respectively. The Partnership also pays a fixed daily fee per bareboat chartered vessel in its fleet, mainly to cover compliance and commercial costs, which include those costs incurred by the Manager to remain in compliance with the oil majors’ requirements, including vetting requirements. Since July 2018 none of the Partnership’s vessel was operated under fixed fee management agreement;

2.Floating fee management agreement: On June 9, 2011, the Partnership entered into an agreement with its Manager based on actual expenses per managed vessel. Under the terms of this agreement, the Partnership compensates its Manager for expenses and liabilities incurred on the Partnership’s behalf while providing the agreed services, including, but not limited to, crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating costs. Costs and expenses associated with a managed vessel’s next scheduled dry docking are borne by the Partnership and not by the Manager. The Partnership also pays its Manager a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index. For the years ended December 31, 2018, 2017 and 2016 management fees under the floating fee management agreement amounted to $11,483, $10,100 and $8,865, respectively; and

3.Crude management agreement: On September 30, 2011, the Partnership completed the acquisition of Crude Carriers Corp. and its subsidiaries (“Crude”). Three of the five crude tanker vessels that the Partnership acquired at the time of the completion of the merger with Crude continue to be managed under a management agreement entered into in March 2010 with the Manager, whose initial term expires on December 31, 2020. Under the terms of this agreement the Partnership compensates the Manager for all of its expenses and liabilities incurred on the Partnership’s behalf while providing the agreed services, including, but not limited to, crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating and administrative costs. For the years ended December 31, 2018, 2017 and 2016 management fees under the crude management agreement amounted to $1,065, $1,041 and $1,020, respectively. Prior to January 1, 2017 the Partnership paid its Manager the following fees:

(a) a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index;

(b) a sale & purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired/disposed by Crude; and

(c) a commercial services fee equal to 1.25% of all gross charter revenues generated by each vessel for commercial services rendered.

Effective from January 1, 2017 the Manager agreed to waive going forward (i) the sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of the three vessels and (ii) the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered. For the year ended December 31, 2016, such commercial services amounted to $360 and are included in “Voyage expenses – related party” in the accompanying consolidated statement of comprehensive (loss) / income.

The Manager has the right to terminate the Crude management agreement and, under certain circumstances, could receive substantial sums in connection with such termination. In March 2018 this termination fee was adjusted to $10,347 from $10,124.

All the above three agreements constitute the “Management Agreements” and the related management fees are included in “Vessel operating expenses – related party” in the accompanying consolidated statements of comprehensive (loss) / income.

On April 4, 2007, the Partnership entered into an administrative services agreement with the Manager, pursuant to which the Manager has agreed to provide certain administrative management services to the Partnership such as accounting, auditing, legal, insurance, IT, clerical, and other administrative services. Also the Partnership reimburses the Manager and its general partner, Capital GP L.L.C. (the “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. In January 2016, the Partnership amended the executive services agreement with CGP according to which CGP provides certain executive officers services for the management of the Partnership’s business as well as investor relation and corporate support services to the Partnership. For the years ended December 31, 2018, 2017 and 2016 such fees amounted to $1,688 for each year and 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:

Consolidated Balance Sheets	As of December 31, 2018	As of December 31, 2017
Liabilities:
CSM – payments on behalf of the Partnership (a)	$ 16,638	$ 13,218
Management fee payable to CSM (b)	1,104	1,016

Due to related parties	$ 17,742	$14,234
Deferred revenue – current (e)	—	2,829

Total liabilities	$ 17,742	$17,063

	For the year ended December 31,
Consolidated Statements of Income	2018	2017	2016
Revenues (c)	$ 14,044	$44,653	$36,026
Voyage expenses	—	—	360
Vessel operating expenses	12,665	11,629	10,866
General and administrative expenses (d)	1,922	1,983	2,076

(a) CSM—Payments on Behalf of the Partnership: This line item represents the amount outstanding for payments for operating and voyage expenses made by the Manager on behalf of the Partnership and its subsidiaries.

(b) Management fee payable to CSM: The amount outstanding as of December 31, 2018 and 2017 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 that were in place between the Partnership and CMTC and its subsidiaries during 2018 and 2017.

Vessel Name	Time Charter (TC) in years	Commencement of Charter	Termination or earliest expected redelivery	Gross (Net) Daily Hire Rate
M/T Arionas	1.0	01/2017	05/2018	$11.0 ($10.9)
M/T Amore Mio II	0.9	08/2016	09/2017	$21.0 ($20.7)
M/T Aristotelis	1.0	01/2017	03/2018	$13.8 ($13.6)
M/T Ayrton II	2.0	02/2016	03/2018	$18.0 ($17.8)
M/T Miltiadis M II	0.9	08/2016	08/2017	$25.0 ($24.7)
M/T Miltiadis M II	0.8 to 1.0	10/2017	08/2018	$18.0 ($18.0)
M/T Amadeus	2.0	06/2015	08/2017	$17.0 ($16.8)
M/T Atlantas II	1.0	10/2016	12/2017	$13.0 ($12.8)
M/T Atlantas II	0.4 to 0.7	01/2018	07/2018	$11.0 ($10.9)
M/T Amoureux	1.0	04/2017	04/2018	$22.0 ($22.0)
M/T Aktoras	0.8 to 1.0	09/2017	01/2018	$11.0 ($10.9)
M/T Aiolos	0.8 to 1.0	09/2017	07/2018	$11.0 ($10.9)
M/T Amor	0.2	09/2017	01/2018	$14.0 ($13.8)

(d) General and administrative expenses: This line item mainly includes fees relating to internal audit, investor relations and consultancy fees.

(e) Deferred Revenue: As of December 31, 2017 the Partnership had received cash in advance for charter hire relating to revenue earned in a subsequent period from CMTC.

Vessels, net and assets held for sale

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Fixed assets

5. Vessels, net and assets held for sale

An analysis of vessels is as follows:

	Vessel Cost	Accumulated depreciation	Net book value
Balance as at January 1, 2017	$1,775,689	$ (407,958)	$1,367,731

Acquisitions and improvements	967	—	967
Depreciation for the period	—	(71,358)	(71,358)
Impairment of vessel	(9,279)	5,997	(3,282)
Classification as asset held for sale	(28,862)	—	(28,862)

Balance as at December 31, 2017	$1,738,515	$ (473,319)	$ 1,265,196

Acquisitions and improvements	75,327	—	75,327
Depreciation for the period	—	(71,009)	(71,009)
Impairment of vessel	(78,607)	49,802	(28,805)
Disposals	(10,927)	—	(10,927)

Balance as at December 31, 2018	$ 1,724,308	$ (494,526)	$ 1,229,782

All of the Partnership’s vessels as of December 31, 2018 have been provided as collateral to secure the Partnership’s credit facilities.

On September 11, 2018 the Partnership entered into a Memorandum of Agreement (“MOA”) with an unrelated party for the disposal of the M/T Amore Mio II at a price of $11,150. Upon entering into the agreement the Partnership considered that the M/T Amore Mio II met the criteria to be classified as held for sale as described in note 2(i) and measured the vessel at the lower of its carrying amount and fair value less the cost associated with the sale. In this respect, the Partnership recognized an impairment charge of $28,805 in the consolidated statement of comprehensive (loss) / income for the year ended December 31, 2018, reducing the vessel’s carrying value to $10,927. The vessel was delivered to its buyer on October 15, 2018.

On May 4, 2018, pursuant to the agreement the Partnership had entered into in January 2018 and the Share Purchase Agreement (“SPA”) entered into with CMTC on May 4, 2018, the Partnership acquired the shares of the company owning the M/T Anikitos for a total consideration of $31,500, comprising of $15,875 in cash and the assumption of the then outstanding balance of $15,625 (the “Anikitos Tranche”) of a credit facility (“2015 credit facility”) previously arranged by CMTC with ING Bank NV (Note 7). The Partnership also assumed CMTC’s guarantee with respect to this loan. The vessel at the time of its acquisition was operated under a thirty month time charter with Petroleo Brasileiro S.A. (“Petrobras”) ending in July 2020, with the option to terminate 30 days earlier, at a gross daily rate of $15.3. The Partnership accounted for this acquisition as acquisition of an asset as the fair values of the vessel and the time charter attached, are concentrated in a single identifiable asset. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the contracted daily charter rate was above the market rates on the acquisition date and therefore the total consideration was allocated to the vessel cost and the above market acquired charter. The Partnership allocated the cost of the vessel and the time charter acquired on the basis of their relative fair values. Thus the vessel was recorded in the Partnership’s financial statements at a value of $31,004 and the above market acquired charter at a value of $496 (Note 6).

On January 17, 2018, the Partnership entered into an SPA with CMTC for the purchase of the shares of the company owning the M/T Aristaios for a total consideration of $52,500 comprising of $24,167 in cash and the assumption of the then outstanding balance of $28,333 of Advance A of a credit facility (the “Aristaios credit facility”) previously arranged by CMTC with Credit Agricole Corporate and Investment Bank and ING Bank NV (Note 7). The Partnership also assumed CMTC’s guarantee with respect to this loan. The vessel at the time of its acquisition was operated under a five year time charter with Tesoro Far East Maritime Company (“Tesoro”) ending in January 2022, with the option to terminate 45 days earlier, at a gross daily rate of $26.4. The Partnership accounted for this acquisition as acquisition of an asset as the fair values of the vessel and the time charter attached, are concentrated in a single identifiable asset. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the contracted daily charter rate was above the market rates on the acquisition date and therefore the total consideration was allocated to the vessel cost and the above market acquired charter. The Partnership allocated the cost of the vessel and the time charter acquired on the basis of their relative fair values. Thus the vessel was recorded in the Partnership’s financial statements at a value of $42,955 and the above market acquired charter at a value of $9,545 (Note 6).

On December 22, 2017 the Partnership entered into an MOA with an unrelated party for the disposal of the M/T Aristotelis at a price of $29,400. Upon entering into the agreement the Partnership considered that M/T Aristotelis met the criteria to be classified as held for sale and measured the vessel at the lower of its carrying amount and fair value less the cost associated with the sale. In this respect, the Partnership recognized an impairment charge of $3,282 in the consolidated statement of comprehensive (loss) / income for the year ended December 31, 2017, reducing the vessel’s carrying value to $28,862. As of January 1, 2018 the amount of $29,027 represented the vessel’s fair value less cost to sell of $28,862 and inventories of $165. Under this agreement, as amended, the vessel was delivered to its Buyer on April 25, 2018.

During 2018 and 2017, certain of the Partnership’s vessels underwent improvements. The costs of these improvements amounted to $1,368 and $967 respectively and were capitalized as part of the vessels’ cost.

During 2018 and 2017 the Partnership paid advances relating to the construction of exhaust gas cleaning systems and ballast water treatment systems that will be installed to certain of its vessels of $3,090 and $0 respectively.

Above market acquired charters

12 Months Ended

Dec. 31, 2018

Above market acquired charters [Abstract]

Above market acquired charters

6. Above market acquired charters

On May 4, 2018 the Partnership acquired the shares of the company owning the M/T Anikitos from CMTC including a time charter attached to the vessel with a time charter daily rate exceeding the market rate for equivalent time charters prevailing at the time of acquisition. The value allocated to the above market acquired time charter of $496 was determined on the basis of the relative fair values of the assets in the asset group acquired. The fair value of the time charter representing the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as determined by reference to market data on the acquisition date and was recorded as an asset in the consolidated balance sheet as of the acquisition date under “above market acquired charters” (Note 5).

On January 17, 2018 the Partnership acquired the shares of the company owning the M/T Aristaios from CMTC including a time charter attached to the vessel with a time charter daily rate exceeding the market rate for equivalent time charters prevailing at the time of acquisition. The value allocated to the above market acquired time charter of $9,545 was determined on the basis of the relative fair values of the assets in the asset group acquired. The fair value of the time charter representing the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as determined by reference to market data on the acquisition date and was recorded as an asset in the consolidated balance sheet as of the acquisition date under “above market acquired charters” (Note 5).

For the years ended December 31, 2018, 2017 and 2016 revenues were reduced by $16,890, $15,208 and $14,542 corresponding to the amortization of the above market acquired charters, respectively.

An analysis of above market acquired charters is as follows:

Above market acquired charters	Book Value
Carrying amount as at January 1, 2017	$90,243

Amortization	$ (15,208)

Carrying amount as at December 31, 2017	$75,035

Acquisitions	$ 10,041
Amortization	$ (16,890)

Carrying amount as at December 31, 2018	$68,186

As of December 31, 2018 the remaining carrying amount of unamortized above market acquired time charters was $68,186 and will be amortized in future years as follows:

For the year ending December 31,	Amount
2019	$17,084
2020	$14,287
2021	$10,652
2022	$8,371
2023	$8,371
Thereafter	$9,421

Total	$ 68,186

Long-Term Debt

12 Months Ended

Dec. 31, 2018

Long-Term Debt [Abstract]

Long-Term Debt

7. Long-Term Debt

Long-term debt consists of the following:

	Bank loans	As of December 31, 2018	As of December 31, 2017	Margin
(i)	Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)	387,426	460,000	3.25%
(ii)	Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”, the “Amor Tranche”)	15,422	15,750	2.50%
(iii)	Assumed in January 2018 maturing in January 2024 (the “Aristaios credit facility ”)	27,417	—	2.85%
(iv)	Assumed in May 2018 maturing in June 2023 (the “2015 credit facility ” the “Anikitos Tranche”)	15,625	—	2.50%

	Total long-term debt	$ 445,890	$ 475,750

	Less: Deferred loan issuance costs	4,866	6,635
	Less: loan associated with vessel held for sale	-	14,781

	Total long-term debt, net	$ 441,024	$454,334
	Less: Current portion of long-term debt	53,680	52,057
	Add: Current portion of deferred loan issuance costs	1,332	1,543
	Long-term debt, net	$ 388,676	$403,820

Changes in long-term debt that took place during the years ended December 31, 2017 and 2018 are set out below.

On May 4, 2018, upon the completion of the acquisition of the shares of the company owning the M/T Anikitos (Note 5), the Partnership assumed CMTC’s guarantee with respect to the outstanding balance of $15,625 under the term loan that was entered into on November 19, 2015 with ING Bank N.V. The term loan is required to be repaid in thirteen consecutive equal quarterly installments of $355, beginning in May 2020, plus a balloon payment of $11,010 payable together with the final quarterly installment in June 2023. The term loan bears interest at LIBOR plus a margin of 2.50%.

On January 17, 2018, upon the completion of the acquisition of the shares of the company owning the M/T Aristaios (Note 5), the Partnership assumed CMTC’s guarantee with respect to the outstanding balance of $28,333 under the term loan that was entered into on January 2, 2017 with Credit Agricole Corporate and Investment Bank and ING Bank NV. The term loan is required to be repaid in twelve consecutive equal semi-annual installments of $916, beginning in July 2018, plus a balloon payment of $17,333 payable together with the final semi-annual installment due in January 2024. The term loan bears interest at LIBOR plus a margin of 2.85%.

On September 6, 2017, the Partnership entered into a new senior secured term loan facility for an aggregate principal amount of up to $460,000 with a syndicate of lenders led by HSH Nordbank AG and ING Bank N.V. On October 2, 2017, the Partnership fully repaid $14,000 outstanding under one of its then existing credit facilities, through available cash. On October 4, 2017, the Partnership repaid indebtedness of $102,246 and the outstanding indebtedness of its then remaining credit facilities, amounting to $460,000, was replaced by the 2017 credit facility. The 2017 credit facility is comprised of two tranches. Tranche A amounted to $259,000, was initially secured by 11 of the Partnership’s vessels and was required to be repaid in 24 equal quarterly installments of $4,833 in addition to a balloon installment of $143,008, which would be payable together with the final quarterly installment in the fourth quarter of 2023. Tranche B amounted to $201,000, was initially secured by 24 of the Partnership’s vessels and was required to be repaid fully in 24 equal quarterly installments of $8,375. The Partnership started paying quarterly installments under both tranches A and B on January 4, 2018. The loans drawn under the 2017 credit facility bear interest at LIBOR plus a margin of 3.25%. In 2018, upon the prepayment of $14,383 and $5,916 due to the disposal of the M/T Aristotelis and the M/T Amore Mio II respectively (Note 5), the repayment schedule of the 2017 credit facility was amended. The required quarterly installments under the Tranche A was reduced to $4,554 and the balloon installment to $134,758 and the required quarterly installments under the Tranche B to $8,079.

During 2017, the Partnership classified the M/T Aristotelis as vessel held for sale (Note 5). As of December 31, 2017, the portion of the Tranche A 2017 credit facility which was associated with this vessel amounted to $14,781 and was presented as “Liability associated with vessel held for sale” in the accompanying consolidated balance sheet.

During 2018 the Partnership repaid the amount of $52,275 in line with the amortization schedule of its 2017 credit facility, $916 in line with the amortization schedule of its Aristaios credit facility and $328 in line with the amortization schedule of its 2015 credit facility.

During 2017 the Partnership repaid the amount of $13,016, in line with the amortization schedule of its then existing credit facility.

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 and the mortgaging of vessels and requirements such as, the ratio of EBITDA to Net Interest Expenses to be no less than 2:1, a minimum cash requirement of $500 per vessel, the ratio of net Total Indebtedness to the Total Assets of the Partnership adjusted for the Market Value of the fleet not to exceed 0.75:1 for the 2017 credit facility and the ratio of net Total Indebtedness to the aggregate Market Value of the fleet not to exceed 0.725:1 for the 2015 and Aristaios credit facilities. The credit facilities also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% for the 2017 credit facility and 120% for the 2015 credit facility, of the aggregate outstanding amount under these facilities. In the case of the Aristaios credit facility the collateral maintenance requirement should not be less than 125% (as long as the vessel is under charter with Tesoro) and 140% (at all other times). 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, 2018 and 2017 the Partnership was in compliance with all financial covenants.

The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective collateral vessel or vessels. Each also requires additional security, such as pledge and charge on current accounts and mortgage interest insurance.

As of December 31, 2018 there were no undrawn amounts under the Partnership’s credit facilities.

For the years ended December 31, 2018, 2017 and 2016, the Partnership recorded interest expense of $25,429 , $24,782 and $22,674 respectively which is included in “Interest expense and finance cost” in the consolidated statements of comprehensive (loss) / income. For the years ended December 31, 2018 and 2017 the weighted average interest rate of the Partnership’s loan facilities was 5.35% and 4.29% respectively.

The required annual loan payments to be made subsequent to December 31, 2018 are as follows:

	2017 Credit Facility (i)	2015 Credit Facility (Amor Tranche) (ii)	Aristaios Credit Facility (iii)	2015 Credit Facility (Anikitos Tranche) (iv)	Total
2019	$ 50,534	$ 1,313	$ 1,833	$ -	$ 53,680
2020	50,534	1,313	1,833	1,065	54,745
2021	50,534	1,313	1,833	1,420	55,100
2022	50,534	11,483	1,833	1,420	65,270
2023	185,290	-	1,833	11,720	198,843
Thereafter	-	-	18,252	-	18,252
Total	$ 387,426	$ 15,422	$ 27,417	$ 15,625	$ 445,890

Financial Instruments

12 Months Ended

Dec. 31, 2018

Financial Instruments [Abstract]

Financial Instruments

8. Financial Instruments

(a) Fair value of financial instruments

The Partnership follows the accounting guidance for financial instruments that establishes a framework for measuring fair value under 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 carrying value of cash and cash equivalents and restricted cash, which are considered Level 1 items as they represent liquid assets with short-term maturities, trade receivables, amounts due to related parties, trade accounts payable and accrued liabilities approximates their fair value. The fair values of long-term variable rate bank loans approximate the recorded values, due to their variable interest being the LIBOR and due to the fact the lenders have the ability to pass on their funding cost to the Partnership under certain circumstances, which reflects their current assessed risk. We believe the terms of our loans are similar to those that could be procured as of December 31, 2018. LIBOR rates are observable at commonly quoted intervals for the full terms of the loans and hence bank loans are considered Level 2 items in accordance with the fair value hierarchy.

The following table summarizes the valuation of the Partnership’s assets measured at fair value on a non-recurring basis as of December 31, 2017:

Items Measured at Fair Value on a Nonrecurring Basis - Fair Value Measurements
	Quoted prices in active markets for identical assets	Significant other observable inputs	Unobservable Inputs
Non – Recurring Measurements:	Level 1	Level 2	Level 3	Loss
Long-lived assets classified as held for sale (Note 5)	$—	$29,400	$—	$3,282

The M/T Aristotelis was classified as held for sale as of December 31, 2017 and was recognized at its fair value of $29,400 less costs to sell of $538. The fair value of the M/T Aristotelis was based on its transaction price, as the sale price was agreed with an unaffiliated third party hence it is considered level 2 (Note 5).

As of December 31, 2018, none of the Partnership’s vessels was classified as asset held for sale.

(b) Concentration of credit risk

Financial instruments which potentially subject the Partnership to significant concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Partnership places its cash and cash equivalents, consisting mostly of deposits, with creditworthy financial institutions rated by qualified rating agencies. A limited number of financial institutions hold the Partnership’s cash. Most of the Partnership’s revenues were derived from a few charterers. For the year ended December 31, 2018, Petrobras, Hyundai Merchant Marine Co Ltd (“HMM”) and CMA CGM accounted for 19%, 16% and 15% of the Partnership’s total revenue, respectively. For the year ended December 31, 2017 Petrobras, CMTC, HMM and CMA CGM accounted for 19%, 18%, 18% and 17% of the Partnership’s total revenue, respectively. For the year ended December 31, 2016 HMM, Petrobras, CMA CGM and CMTC accounted for 19%, 18%, 17% and 15% of the Partnership’s total revenue, respectively.

Accrued Liabilities

12 Months Ended

Dec. 31, 2018

Accrued Liabilities [Abstract]

Accrued Liabilities

9. Accrued Liabilities

Accrued liabilities consist of the following:

	As of December 31,
	2018	2017
Accrued loan interest and loan fees	$ 5,701	$ 5,221
Accrued operating expenses	5,519	5,199
Accrued voyage expenses and commissions	4,320	3,521
Accrued general and administrative expenses	1,200	1,170
Accrued spin-off costs	3,634	—

Total	$ 20,374	$ 15,111

Voyage Expenses and Vessel Operating Expenses

12 Months Ended

Dec. 31, 2018

Voyage Expenses and Vessel Operating Expenses [Abstract]

Voyage Expenses and Vessel Operating Expenses

10. Voyage Expenses and Vessel Operating Expenses

Voyage expenses and vessel operating expenses consist of the following:

	For the years ended December 31,
	2018	2017	2016
Voyage expenses:
Commissions	$ 5,561	$4,440	$4,816
Bunkers	25,407	4,726	2,601
Port expenses	12,360	3,593	892
Other	2,987	2,406	1,971

Total	$ 46,315	$15,165	$10,280

Vessel operating expenses:
Crew costs and related costs	$ 49,526	$43,699	$37,342
Insurance expense	5,144	5,035	5,772
Spares, repairs, maintenance and other expenses	16,858	12,731	11,688
Stores and lubricants	9,584	7,937	8,203
Management fees (Note 4)	12,624	11,491	10,661
Vetting, insurances, spares and repairs (Note 4)	41	138	205
Other operating expenses	5,277	5,114	3,632

Total	$ 99,054	$86,145	$77,503

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2018
Income Taxes [Abstract]
Income Taxes	11. Income Taxes Under the laws of the Marshall Islands and Liberia, 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 and managed from, 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 vessel-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be established securities market. The Partnership has satisfied the Publicly-Traded Test for the years ended December 31, 2018, 2017 and 2016 and the ship-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income.

Partners' Capital

12 Months Ended

Dec. 31, 2018

Partners' Capital [Abstract]

Partners' Capital

12. 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 unit holders.

Definition of Available Cash: Available Cash, for each fiscal quarter, consists of all cash on hand at the end of the quarter:

•less the amount of cash reserves established by our board of directors to:

•provide for the proper conduct of the Partnership’s business (including reserves for future capital expenditures and for our anticipated credit needs);

•comply with applicable law, any of the Partnership’s debt instruments, or other agreements; or

•provide funds for distributions to the Partnership’s unit holders and to the general partner for any one or more of the next four quarters;

•plus all cash on hand on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter. Working capital borrowings are generally borrowings that are made under our credit agreements and in all cases are used solely for working capital purposes or to pay distributions to partners subject to certain exceptions set forth in the limited partnership agreement.

General Partner Interest and IDRs: The general partner has a 1.71% interest in the Partnership and holds the IDRs. 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 general partner interest.

IDRs 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, 2018, 2017 and 2016 holds the IDRs. According to the partnership agreement, as amended in 2014, the following table illustrates the percentage allocations of the additional available cash from operating surplus among the unit holders 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 unit holders 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 per Unit,” until available cash from operating surplus the Partnership distributes reaches the next target distribution level, if any. The percentage interests shown for the unit holders and general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests shown below (adjusted for the March 2019 Reverse Split) assume that the Partnership’s general partner maintains a 2% general partner interest and that it has not transferred its incentive distribution rights.

	Total Quarterly	Marginal Percentage Interest in Distributions
	Distribution Target Amount per Unit	Unitholders	General Partner
Minimum Quarterly Distribution	$1.6275	98%	2%
First Target Distribution	up to $1.6975	98%	2%
Second Target Distribution	above $1.6975 up to $1.8725	85%	15%
Third Target Distribution	above $1.8725 up to $2.0475	75%	25%
Thereafter	above $2.0475	65%	35%

Following the 2014’s annual general meeting, CMTC unilaterally notified the Partnership that it has decided to waive its rights to receive quarterly incentive distributions between $1.6975 and $1.75 (adjusted for the March 2019 Reverse Split). This waiver effectively increases the First Target Distribution and the lower band of the Second Target Distribution (as referenced in the table above) from $1.6975 to $1.75 (adjusted for the March 2019 Reverse Split).

Distributions of Available Cash from Operating Surplus: 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:

•first, 98% to all unit holders, pro rata, and 2.0% to our general partner, until we distribute for each outstanding unit an amount equal to the minimum quarterly distribution for that quarter; and

•thereafter, in the manner described in the above table.

Class B Convertible Preferred Units

During 2012 and 2013 the Partnership issued in total 24,655,554 Class B Convertible Preferred Units to a group of investors including CMTC according to two separate Class B Convertible Preferred Unit Subscription Agreements (the “Agreements”) that the Partnership had entered with this group of investors in 2012 and 2013. 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 described in the limited partnership 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 the Agreements 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. 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 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 Agreements 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 the limited partnership agreement.

Common Units

In September 2016, the Partnership entered into an equity distribution agreement with UBS Securities LLC (“UBS”) under which the Partnership may sell, from time to time, through UBS, as its sales agent, new common units having an aggregate offering amount of up to $50,000 (the “ATM offering”). The equity distribution agreement provides that UBS, when it is acting as the Partnership’s sales agent, will be entitled to compensation of up to 2% of the gross sales price of the common units sold through UBS from time to time. During 2018 the Partnership did not issue any units under the ATM offering. During 2017 the Partnership issued 736,008 new common units under the ATM offering (adjusted for the March 2019 Reverse Split) resulting in net proceeds of $17,815 after the payment of commission to the sales agent, but before offering expenses. For the year ended December 31, 2017, the Partnership recognized offering expenses of $176 in connection with the ATM offering. Since the launch of the ATM offering until December 31, 2016, the Partnership issued 200,212 new common units (adjusted for the March 2019 Reverse Split) resulting in net proceeds of $4,546 after the payment of commission to the sales agent, but before offering expenses. For the year ended December 31, 2016, the Partnership recognized offering expenses of $890 in connection with the ATM offering.

As of December 31, 2018 and 2017 our partners’ capital included the following units (adjusted for the March 2019 Reverse Split):

	As of December 31, 2018		As of December 31, 2017
Common units	18,178,100	18,178,100
General partner units	348,570	348,570
Preferred units	12,983,333	12,983,333

Total partnership units	31,510,003	31,510,003

Omnibus Incentive Compensation Plan

12 Months Ended

Dec. 31, 2018

Omnibus Incentive Compensation Plan [Abstract]

Omnibus Incentive Compensation Plan

13. Omnibus Incentive Compensation Plan

On April 29, 2008, the board of directors approved the Partnership’s Plan according to which the Partnership may issue a limited number of awards, not to exceed 71,429 units (adjusted for the March 2019 Reverse Split). The Plan was amended on July 22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 114,286 which was then increased to 235,714 common units on August 21, 2014 (both adjusted for the March 2019 Reverse Split), at the annual general meeting of the Partnership’s unit holders. The Plan was administered by the general partner as authorized by the board of directors. The persons eligible to receive awards under the Plan were 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 and officers of the general partner were 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 were 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 December 23, 2015 the Partnership awarded 34,286 and 87,143 unvested units to Employees and Non-Employees (both adjusted for the March 2019 Reverse Split), respectively. Awards granted to certain Employees and Non Employees vested in three annual installments. The awards vested on December 31, 2018.

All unvested units were conditional upon the grantee’s continued service as Employee and/or Non-Employee until the applicable vesting date.

The unvested units accrued distributions as declared and paid which were retained by the custodian of the Plan until the vesting date at which time they were payable to the grantee. As unvested unit grantees accrued distributions on awards that were expected to vest, such distributions were charged to Partner’s capital.

The following table contains details of our plan (adjusted for the March 2019 Reverse Split):

	Employee equity compensation		Non-Employee equity compensation
Unvested Units	Units	Grant-date fair value	Units	Award- date fair value
Unvested on January 1, 2017	29,524	$7,987	70,357	$20,951
Vested	5,238	1,414	16,786	2,765

Unvested on December 31, 2017	24,286	$6,573	53,571	$18,186

Vested	24,286	$6,573	53,571	$18,186

Unvested on December 31, 2018	-	$ -	-	$ -

For the years ended December 31, 2018, 2017, and 2016 the equity compensation expense that has been charged in the consolidated statements of comprehensive (loss) / income was $438, $438 and $439 for the Employee awards and $175, $718 and $635 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income for each respective year.

The Partnership used the straight-line method to recognize the cost of the awards.

Net (Loss) / Income Per Unit

12 Months Ended

Dec. 31, 2018

Net (Loss) / Income Per Unit [Abstract]

Net (Loss) / Income Per Unit

14. Net (Loss) / Income Per Unit

The general partner’s and common unit holders’ 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 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 12), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves determined 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.

The Partnership also considers whether the Partnership Agreement contains any contractual limitations concerning distributions to the IDRs that would impact the amount of earnings to allocate to the IDRs for each reporting period.

Under the partnership agreement, the holder of the IDRs in the Partnership, which is currently CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions (Note 12). The Partnership excluded the effect of the 12,983,333 Class B Convertible Preferred Units in calculating dilutive EPU as of December 31, 2018, 2017 and 2016, for each year as they were anti-dilutive.

For the year ended December 31, 2018 the Partnership excluded the effect of 77,857 units (adjusted for the March 2019 Reverse Split) under the omnibus incentive compensation plan which vested in December 2018 (Note 13) in calculating dilutive EPU for its common unit holders as they were anti-dilutive. As of December 31, 2017 and 2016 the Partnership excluded the effect of 77,857 and 99,881(both adjusted for the March 2019 Reverse Split), respectively, non-vested unit awards in calculating dilutive EPU for its common unit holders as they were anti-dilutive. The non-vested units are participating securities because they received 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.

Excluding the non-cash vessels’ impairment charge, as this was not distributed to the Partnership’s unit holders for the year ended December 31, 2018, the Partnership’s net income for the years ended December 31, 2018, 2017 and 2016 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

On March 3, 2019 the board of directors of the Partnership approved a one for seven reverse unit split. Pursuant to the reverse split, every seven common units issued and outstanding as of March 27, 2019, the date of the reverse split, was converted into one common unit. The Partnership’s common units, immediately after the reverse split became effective, started trading on a split-adjusted basis on the Nasdaq Global Select Market.

The reverse split reduced the number of common units issued and outstanding from 127,246,692 to 18,178,100 common units and the number of general partner units issued and outstanding from 2,439,989 to 348,570 general partner units.

The two class method used to calculate EPU is as follows:

BASIC AND DILUTED	2018	2017	2016
Numerators
Partnership’s net (loss) / income	$ (104)	$ 38,483	$ 52,489
Less:
Preferred unit holders’ interest in Partnership’s net income	11,101	11,101	11,101
General Partner’s interest in Partnership’s net (loss) / income	(211)	522	818
Partnership’s net (loss) / income allocable to unvested units	(71)	135	285
Common unit holders’ interest in Partnership’s net (loss) / income	$ (10,923)	$ 26,725	$ 40,285
Denominators
Weighted average number of common units outstanding, basic and diluted	18,100,455	17,692,192	17,114,761
Net (loss) / income per common unit:
Basic and Diluted	$ (0.60)	$ 1.51	$ 2.35

Commitments and Contingencies

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies [Abstract]

Commitments and Contingencies

15. 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 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:

•Information available prior to the issuance of the financial statement indicates that it is probable that a liability has been incurred at the date of the financial statements.

•The amount of the loss can be reasonably estimated.

(a)Lease Commitments: Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancellable long-term time charter contracts, as of December 31, 2018 were:

Year ended December 31,	Amount
2019	$176,339
2020	123,347
2021	63,296
2022	53,564
2023	51,216
Thereafter	60,432

Total	$528,194

(b) Vessel’s Equipment Commitments: As of December 31, 2018 the Partnership has outstanding commitments for certain of its vessels relating to the construction of exhaust gas cleaning systems and ballast water treatment systems which are payable as follows:

Year ended December 31,	Amount
2019	$ 16,118
2020	8,699

Total	$ 24,817

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2018
Subsequent Events [Abstract]
Subsequent Events	16. Subsequent Events (a)Dividends: On January 22, 2019, the board of directors of the Partnership declared a cash distribution of $0.315 per common unit (adjusted for the March 2019 Reverse Split) for the fourth quarter of 2018. The fourth quarter common unit cash distribution was paid on February 14, 2019, to unit holders of record on February 5, 2019. (b)Dividends: On January 22, 2019, the board of directors of the Partnership declared a cash distribution of $0.21375 per Class B Convertible Preferred Unit for the fourth quarter of 2018. The cash distribution was paid on February 8, 2019, to Class B unit holders of record on February 1, 2019. (c) The DSS Transaction: The DSS Transaction completed on March 27, 2019. In connection with the DSS Transaction, among other things: the Partnership spun off Diamond S, holding all of its 25 crude and product tankers, by way of pro rata distribution of the outstanding shares of common stock of Diamond S to the holders of the Partnership’s common and general partner units; DSS paid to the Partnership, or at its direction, a total amount of $319,651; the Partnership redeemed and retired all outstanding Class B Units at 100% of par value, translating into a total redemption price of $119,502; Partnership amended and prepaid an amount of $89,298 under the 2017 credit facility and fully repaid all amounts outstanding under the 2015 credit facility and the Aristaios credit facility; the aggregate amounts repaid were $146,517 plus accrued interest and breakage costs; and the Partnership effected a reverse split of its common and general partner units, reducing the number of common units issued and outstanding from 127,246,692 to 18,178,100 common units and the number of general partner units issued and outstanding from 2,439,989 to 348,570 general partner units.

Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2018

Significant Accounting Policies [Abstract]

Principles of Consolidation:

Use of Estimates:

Accounting for Revenue, Voyage and Operating Expenses:

Vessel operating expenses presented in the consolidated financial statements mainly consist of:

•Management fees payable to the Partnership’s manager, Capital Ship Management Corp. (the “Manager” or “CSM”) under three different types of Management agreements (Note 4); and

•Crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses.

Vessel operating expenses are expensed as incurred.

Foreign Currency Transactions:

Cash and Cash Equivalents:

Restricted Cash:

Trade Accounts Receivable, Net:

Inventories:

Vessels Held for Sale:

Fixed Assets:

Impairment of Long-Lived Assets:

Deferred charges, net:

Intangible assets:

Net Income Per Limited Partner Unit:

Segment Reporting:

Omnibus Incentive Compensation Plan:

Recent Accounting Pronouncements:

(a) Entities may elect not to recast the comparative periods presented when transitioning to ASC 842; and

The following table shows the revenues earned from time and bareboat charters and voyage charters for the year ended December 31, 2018:

	For the year ended December 31, 2018
Time and bareboat charters (operating leases)	$213,427
Voyage charters (accounted for under ASC 606)	65,827
Total	$279,254

The following table presents the impact of the adoption of ASU 2014-09 on our balance sheet at December 31, 2018:

	As at December 31, 2018
	As reported	Balances without adoption of ASU 2014-09	Effect of change
Assets Current Assets
Trade accounts receivable	$16,126	$17,526	$(1,400)
Prepayments and other assets	8,532	8,135	397
Liabilities
Current liabilities	115,159	115,194	35

The following table presents the impact of the adoption of ASU 2014-09 on our statement of comprehensive (loss) / income:

	For the year ended December 31, 2018
	As reported	Balances without adoption of ASU 2014-09	Effect of change
Total revenues	$279,254	$280,654	$(1,400)
Voyage expenses	46,315	46,747	432
Partnership’s net (loss) / income	(104)	864	(968)
Net loss per common unit basic and diluted (adjusted for the March 2019 Reverse Split)	(0.60)	(0.55)	(0.05)

The adoption of ASC 606 had no impact on net cash provided by operating activities, investing activities and financing activities for the year ended December 31, 2018.

Basis of Presentation and General Information (Tables)

12 Months Ended

Dec. 31, 2018

Basis of Presentation and General Information [Abstract]

List of Subsidiaries

Subsidiary	Date of Incorporation	Name of Vessel Owned by Subsidiary	Deadweight “DWT”	Date acquired by the Partnership	Date acquired by Capital Maritime & Trading Corp. (“CMTC”)
Capital Product Operating LLC	01/16/2007	—	—	—	—
Crude Carriers Corp.	10/29/2009	—	—	09/30/2011	—
Crude Carriers Operating Corp.	01/21/2010	—	—	09/30/2011	—
Shipping Rider Co.	09/16/2003	M/T Atlantas II	36,760	04/04/2007	04/26/2006
Canvey Shipmanagement Co.	03/18/2004	M/T Assos	47,872	08/16/2010 04/04/2007	05/17/2006
Centurion Navigation Limited	08/27/2003	M/T Aktoras	36,759	04/04/2007	07/12/2006
Polarwind Maritime S.A.	10/10/2003	M/T Agisilaos	36,760	04/04/2007	08/16/2006
Carnation Shipping Company	11/10/2003	M/T Arionas	36,725	04/04/2007	11/02/2006
Apollonas Shipping Company	02/10/2004	M/T Avax	47,834	04/04/2007	01/12/2007
Tempest Maritime Inc.	09/12/2003	M/T Aiolos	36,725	04/04/2007	03/02/2007
Iraklitos Shipping Company	02/10/2004	M/T Axios	47,872	04/04/2007	02/28/2007
Epicurus Shipping Company	02/11/2004	M/T Atrotos	47,786	03/01/2010 05/08/2007	05/08/2007
Laredo Maritime Inc.	02/03/2004	M/T Akeraios	47,781	07/13/2007	07/13/2007
Lorenzo Shipmanagement Inc.	05/26/2004	M/T Apostolos	47,782	09/20/2007	09/20/2007
Splendor Shipholding S.A.	07/08/2004	M/T Anemos I	47,782	09/28/2007	09/28/2007
Ross Shipmanagement Co.	12/29/2003	M/T Attikos (1)	12,000	09/24/2007	01/20/2005
Sorrel Shipmanagement Inc.	02/07/2006	M/T Alexandros II	51,258	01/29/2008	01/29/2008
Baymont Enterprises Incorporated	05/29/2007	M/T Amore Mio II (2)	159,982	03/27/2008	07/31/2007
Forbes Maritime Co.	02/03/2004	M/T Aristofanis (1)	12,000	04/30/2008	06/02/2005
Wind Dancer Shipping Inc.	02/07/2006	M/T Aristotelis II	51,226	06/17/2008	06/17/2008
Belerion Maritime Co.	01/24/2006	M/T Aris II	51,218	08/20/2008	08/20/2008
Mango Finance Corp.	07/14/2006	M/T Agamemnon II (1)	51,238	04/07/2009	11/24/2008
Navarro International S.A.	07/14/2006	M/T Ayrton II	51,260	04/13/2009	04/10/2009
Adrian Shipholding Inc.	06/22/2004	M/T Alkiviadis	36,721	06/30/2010	03/29/2006
Patroklos Marine Corp.	06/17/2008	M/V Cape Agamemnon	179,221	06/09/2011	01/25/2011
Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.	04/06/2006	M/T Miltiadis M II	162,397	09/30/2011	04/26/2006
Amoureux Carriers Corp.	04/14/2010	M/T Amoureux	149,993	09/30/2011	—
Aias Carriers Corp.	04/14/2010	M/T Aias	150,393	09/30/2011	—
Agamemnon Container Carrier Corp.	04/19/2012	M/V Agamemnon	108,892	12/22/2012	06/28/2012
Archimidis Container Carrier Corp.	04/19/2012	M/V Archimidis	108,892	12/22/2012	06/22/2012
Aenaos Product Carrier S.A.	10/16/2013	M/T Aristotelis (2)	51,604	11/28/2013	—
Anax Container Carrier S.A.	04/08/2011	M/V Hyundai Prestige	63,010	09/11/2013	02/19/2013
Hercules Container Carrier S.A.	04/08/2011	M/V Hyundai Premium	63,010	03/20/2013	03/11/2013
Iason Container Carrier S.A.	04/08/2011	M/V Hyundai Paramount	63,010	03/27/2013	03/27/2013
Thiseas Container Carrier S.A.	04/08/2011	M/V Hyundai Privilege	63,010	09/11/2013	05/31/2013
Cronus Container Carrier S.A.	07/19/2011	M/V Hyundai Platinum	63,010	09/11/2013	06/14/2013
Miltiadis M II Corp.	08/28/2012	—	—	—	—
Dias Container Carrier S.A.	05/16/2013	M/V CMA CGM Amazon	115,534	06/10/2015	06/10/2015
Poseidon Container Carrier S.A.	05/16/2013	M/V CMA CGM Uruguay	115,639	09/18/2015	09/18/2015
Isiodos Product Carrier S.A.	05/31/2013	M/T Active	50,136	03/31/2015	03/31/2015
Titanas Product Carrier S.A.	05/31/2013	M/T Amadeus	50,108	06/30/2015	06/30/2015
Atrotos Container Carrier S.A.	10/25/2013	M/V CMA CGM Magdalena	115,639	02/26/2016	02/26/2016
Filonikis Product Carrier S.A.	05/31/2013	M/T Amor	49,999	10/24/2016	09/30/2015
Asterias Crude Carrier S.A.	07/13/2015	M/T Aristaios	113,689	01/17/2018	01/10/2017
Iason Product Carrier S.A.	08/28/2013	M/T Anikitos	50,082	05/04/2018	06/21/2016
Athena SpinCo Inc.(3)	11/14/2018	—	—	—	—
Athena MergerCo 1 Inc.(3)	11/14/2018	—	—	—	—
Athena MergerCo 2 Inc.(3)	11/14/2018	—	—	—	—
Athena MergerCo 3 LLC.(3)	11/14/2018	—	—	—	—
Athena MergerCo 4 LLC (3)	11/14/2018	—	—	—	—
Vessels were disposed in the previous years. Vessels were disposed in 2018 (Note 5). Companies established for the purpose of the agreement between the Partnership and DSS.

Significant Accounting Policies (Tables)

12 Months Ended

Dec. 31, 2018

Under ASC 606

Disaggregation of revenue

	For the year ended December 31, 2018
Time and bareboat charters (operating leases)	$213,427
Voyage charters (accounted for under ASC 606)	65,827
Total	$279,254

Balance Sheet Location

Impact of the adoption of ASU 2014-09

	As at December 31, 2018
	As reported	Balances without adoption of ASU 2014-09	Effect of change
Assets Current Assets
Trade accounts receivable	$16,126	$17,526	$(1,400)
Prepayments and other assets	8,532	8,135	397
Liabilities
Current liabilities	115,159	115,194	35

Income Statement Location

Impact of the adoption of ASU 2014-09

	For the year ended December 31, 2018
	As reported	Balances without adoption of ASU 2014-09	Effect of change
Total revenues	$279,254	$280,654	$(1,400)
Voyage expenses	46,315	46,747	432
Partnership’s net (loss) / income	(104)	864	(968)
Net loss per common unit basic and diluted (adjusted for the March 2019 Reverse Split)	(0.60)	(0.55)	(0.05)

Acquisitions (Tables)

12 Months Ended

Dec. 31, 2018

Business Acquisition [Line Items]

Purchase price allocation

	As of October 24, 2016
Vessel	$ 31,600
Above market acquired time charters	$ 1,061

Identifiable assets	$ 32,661

Loan	$ (15,750)

Net assets acquired	$ 16,911

Purchase price	$ (16,911)

Identifiable intangible assets

Intangible

assets

As of

October 24,

2016

Duration of

time charters

acquired

Above market acquired time charter

$1,061

1 year

Unaudited Pro Forma Financial Information


	For the year ended December 31, 2016
Total revenues	$245,825
Partnership’s net income	$53,677
Preferred unit holders’ interest in Partnership’s net income	$11,101
General Partner’s interest in Partnership’s net income	$850
Common unit holders interest in Partnership’s net income	$41,726
Net income per common unit basic and diluted (adjusted for the March 2019 Reverse Split)	$2.42

Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2018

Transactions with Related Parties [Abstract]

Balances and Transactions with Related Parties

Consolidated Balance Sheets	As of December 31, 2018	As of December 31, 2017
Liabilities:
CSM – payments on behalf of the Partnership (a)	$ 16,638	$ 13,218
Management fee payable to CSM (b)	1,104	1,016

Due to related parties	$ 17,742	$14,234
Deferred revenue – current (e)	—	2,829

Total liabilities	$ 17,742	$17,063

	For the year ended December 31,
Consolidated Statements of Income	2018	2017	2016
Revenues (c)	$ 14,044	$44,653	$36,026
Voyage expenses	—	—	360
Vessel operating expenses	12,665	11,629	10,866
General and administrative expenses (d)	1,922	1,983	2,076

Charter Agreements

Vessel Name	Time Charter (TC) in years	Commencement of Charter	Termination or earliest expected redelivery	Gross (Net) Daily Hire Rate
M/T Arionas	1.0	01/2017	05/2018	$11.0 ($10.9)
M/T Amore Mio II	0.9	08/2016	09/2017	$21.0 ($20.7)
M/T Aristotelis	1.0	01/2017	03/2018	$13.8 ($13.6)
M/T Ayrton II	2.0	02/2016	03/2018	$18.0 ($17.8)
M/T Miltiadis M II	0.9	08/2016	08/2017	$25.0 ($24.7)
M/T Miltiadis M II	0.8 to 1.0	10/2017	08/2018	$18.0 ($18.0)
M/T Amadeus	2.0	06/2015	08/2017	$17.0 ($16.8)
M/T Atlantas II	1.0	10/2016	12/2017	$13.0 ($12.8)
M/T Atlantas II	0.4 to 0.7	01/2018	07/2018	$11.0 ($10.9)
M/T Amoureux	1.0	04/2017	04/2018	$22.0 ($22.0)
M/T Aktoras	0.8 to 1.0	09/2017	01/2018	$11.0 ($10.9)
M/T Aiolos	0.8 to 1.0	09/2017	07/2018	$11.0 ($10.9)
M/T Amor	0.2	09/2017	01/2018	$14.0 ($13.8)

Vessels, net and assets held for sale (Tables)

12 Months Ended

Dec. 31, 2018

Property Plant And Equipment [Abstract]

Vessels, net

	Vessel Cost	Accumulated depreciation	Net book value
Balance as at January 1, 2017	$1,775,689	$ (407,958)	$1,367,731

Acquisitions and improvements	967	—	967
Depreciation for the period	—	(71,358)	(71,358)
Impairment of vessel	(9,279)	5,997	(3,282)
Classification as asset held for sale	(28,862)	—	(28,862)

Balance as at December 31, 2017	$1,738,515	$ (473,319)	$ 1,265,196

Acquisitions and improvements	75,327	—	75,327
Depreciation for the period	—	(71,009)	(71,009)
Impairment of vessel	(78,607)	49,802	(28,805)
Disposals	(10,927)	—	(10,927)

Balance as at December 31, 2018	$ 1,724,308	$ (494,526)	$ 1,229,782

Above market acquired charters (Tables)

12 Months Ended

Dec. 31, 2018

Above market acquired charters [Abstract]

Above market acquired charters

Above market acquired charters	Book Value
Carrying amount as at January 1, 2017	$90,243

Amortization	$ (15,208)

Carrying amount as at December 31, 2017	$75,035

Acquisitions	$ 10,041
Amortization	$ (16,890)

Carrying amount as at December 31, 2018	$68,186

Above market acquired charter future amortization expense

For the year ending December 31,	Amount
2019	$17,084
2020	$14,287
2021	$10,652
2022	$8,371
2023	$8,371
Thereafter	$9,421

Total	$ 68,186

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2018

Long-Term Debt Covenants [Abstract]

Bank Loans

	Bank loans	As of December 31, 2018	As of December 31, 2017	Margin
(i)	Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)	387,426	460,000	3.25%
(ii)	Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”, the “Amor Tranche”)	15,422	15,750	2.50%
(iii)	Assumed in January 2018 maturing in January 2024 (the “Aristaios credit facility ”)	27,417	—	2.85%
(iv)	Assumed in May 2018 maturing in June 2023 (the “2015 credit facility ” the “Anikitos Tranche”)	15,625	—	2.50%

	Total long-term debt	$ 445,890	$ 475,750

	Less: Deferred loan issuance costs	4,866	6,635
	Less: loan associated with vessel held for sale	-	14,781

	Total long-term debt, net	$ 441,024	$454,334
	Less: Current portion of long-term debt	53,680	52,057
	Add: Current portion of deferred loan issuance costs	1,332	1,543
	Long-term debt, net	$ 388,676	$403,820

Required Annual Loan Payments

	2017 Credit Facility (i)	2015 Credit Facility (Amor Tranche) (ii)	Aristaios Credit Facility (iii)	2015 Credit Facility (Anikitos Tranche) (iv)	Total
2019	$ 50,534	$ 1,313	$ 1,833	$ -	$ 53,680
2020	50,534	1,313	1,833	1,065	54,745
2021	50,534	1,313	1,833	1,420	55,100
2022	50,534	11,483	1,833	1,420	65,270
2023	185,290	-	1,833	11,720	198,843
Thereafter	-	-	18,252	-	18,252
Total	$ 387,426	$ 15,422	$ 27,417	$ 15,625	$ 445,890

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2018

Financial Instruments [Abstract]

Fair value measurements on a Nonrecurring Basis

Items Measured at Fair Value on a Nonrecurring Basis - Fair Value Measurements
	Quoted prices in active markets for identical assets	Significant other observable inputs	Unobservable Inputs
Non – Recurring Measurements:	Level 1	Level 2	Level 3	Loss
Long-lived assets classified as held for sale (Note 5)	$—	$29,400	$—	$3,282

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2018

Accrued Liabilities [Abstract]

Accrued Liabilities

	As of December 31,
	2018	2017
Accrued loan interest and loan fees	$ 5,701	$ 5,221
Accrued operating expenses	5,519	5,199
Accrued voyage expenses and commissions	4,320	3,521
Accrued general and administrative expenses	1,200	1,170
Accrued spin-off costs	3,634	—

Total	$ 20,374	$ 15,111

Voyage Expenses and Vessel Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2018

Voyage Expenses and Vessel Operating Expenses [Abstract]

Voyage Expenses and Vessel Operating Expenses

	For the years ended December 31,
	2018	2017	2016
Voyage expenses:
Commissions	$ 5,561	$4,440	$4,816
Bunkers	25,407	4,726	2,601
Port expenses	12,360	3,593	892
Other	2,987	2,406	1,971

Total	$ 46,315	$15,165	$10,280

Vessel operating expenses:
Crew costs and related costs	$ 49,526	$43,699	$37,342
Insurance expense	5,144	5,035	5,772
Spares, repairs, maintenance and other expenses	16,858	12,731	11,688
Stores and lubricants	9,584	7,937	8,203
Management fees (Note 4)	12,624	11,491	10,661
Vetting, insurances, spares and repairs (Note 4)	41	138	205
Other operating expenses	5,277	5,114	3,632

Total	$ 99,054	$86,145	$77,503

Partners' Capital (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Incentive Distributions

	Total Quarterly	Marginal Percentage Interest in Distributions
	Distribution Target Amount per Unit	Unitholders	General Partner
Minimum Quarterly Distribution	$1.6275	98%	2%
First Target Distribution	up to $1.6975	98%	2%
Second Target Distribution	above $1.6975 up to $1.8725	85%	15%
Third Target Distribution	above $1.8725 up to $2.0475	75%	25%
Thereafter	above $2.0475	65%	35%

Partnership Units

	As of December 31, 2018		As of December 31, 2017
Common units	18,178,100	18,178,100
General partner units	348,570	348,570
Preferred units	12,983,333	12,983,333

Total partnership units	31,510,003	31,510,003

Omnibus Incentive Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2018

Omnibus Incentive Compensation Plan [Abstract]

Omnibus Incentive Compensation Plan

	Employee equity compensation		Non-Employee equity compensation
Unvested Units	Units	Grant-date fair value	Units	Award- date fair value
Unvested on January 1, 2017	29,524	$7,987	70,357	$20,951
Vested	5,238	1,414	16,786	2,765

Unvested on December 31, 2017	24,286	$6,573	53,571	$18,186

Vested	24,286	$6,573	53,571	$18,186

Unvested on December 31, 2018	-	$ -	-	$ -

Net (Loss) / Income Per Unit (Tables)

12 Months Ended

Dec. 31, 2018

Net (Loss) / Income Per Unit [Abstract]

Net (Loss) / Income Per Unit Basic and Diluted

BASIC AND DILUTED	2018	2017	2016
Numerators
Partnership’s net (loss) / income	$ (104)	$ 38,483	$ 52,489
Less:
Preferred unit holders’ interest in Partnership’s net income	11,101	11,101	11,101
General Partner’s interest in Partnership’s net (loss) / income	(211)	522	818
Partnership’s net (loss) / income allocable to unvested units	(71)	135	285
Common unit holders’ interest in Partnership’s net (loss) / income	$ (10,923)	$ 26,725	$ 40,285
Denominators
Weighted average number of common units outstanding, basic and diluted	18,100,455	17,692,192	17,114,761
Net (loss) / income per common unit:
Basic and Diluted	$ (0.60)	$ 1.51	$ 2.35

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2018

Commitments and Contingencies [Abstract]

Future minimum rental receipts

Year ended December 31,	Amount
2019	$176,339
2020	123,347
2021	63,296
2022	53,564
2023	51,216
Thereafter	60,432

Total	$528,194

Schedule of future minimum payments other

Year ended December 31,	Amount
2019	$ 16,118
2020	8,699

Total	$ 24,817

Basis of Presentation and General Information (Table) (Details)

12 Months Ended

Dec. 31, 2018

M/T Atlantas II

Property Plant And Equipment [Line Items]

DWT

36,760

Basis of Presentation and General Information - Additional Information (Details)	Dec. 31, 2018
Property Plant And Equipment
Number of vessels	36
Suezmax Crude Oil Tankers
Property Plant And Equipment
Number of vessels	3
Medium Range Tankers
Property Plant And Equipment
Number of vessels	21
Aframax Crude-Oil Tanker
Property Plant And Equipment
Number of vessels	1
Post Panamax Container Carrier Vessels
Property Plant And Equipment
Number of vessels	10
Capesize Bulk Carrier
Property Plant And Equipment
Number of vessels	1

Basis of Presentation and General Information - Transaction Agreement DSS (Details) - USD ($) $ in Thousands	3 Months Ended	11 Months Ended	12 Months Ended
	Mar. 27, 2019	Nov. 27, 2018	Dec. 31, 2018
Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items]
Reverse unit split, description	one for seven reverse unit split
Athena renamed to Diamond S
Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items]
Cash received		$ 10,000
Shares to be distributed		12,725,000
Transaction Agreement with DSS
Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items]
Closing date of Transaction Agreement			Mar. 27, 2019
Credit facility, maximum borrowing capacity		$ 360,000
Expiration period of line of credit			5 years
Date Of Transaction Agreement			Nov. 27, 2018

Significant Accounting Policies - Impact of the Adoption of ASU 2014-09 on Balance Sheet (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Current Assets
Trade accounts receivable	$ 16,126	$ 4,772
Prepayments and other assets	8,532	3,046
Liabilities
Current liabilities	115,159	$ 123,071
Balances without adoption of ASU 2014-09
Current Assets
Trade accounts receivable	17,526
Prepayments and other assets	8,135
Liabilities
Current liabilities	115,194
Effect of change
Current Assets
Trade accounts receivable	(1,400)
Prepayments and other assets	397
Liabilities
Current liabilities	$ 35

Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
Significant Accounting Policies (Details) $ in Thousands	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Significant Accounting Policies [Abstract]
Maximum original maturity of highly liquid investments, in order to be classified as cash and cash equivalents	3
Write off of doubtful accounts	$ 0	$ 0
Scrap value per light weight ton (LWT)	$0.2
Vessels useful life	25 years
Unearned revenue related to undelivered performance obligations	$ 371	$ 0
Minimum
Interval between vessel drydocking	30
Maximum
Interval between vessel drydocking	60

Acquisition of Filonikis Product Carrier S.A. (M/T Amor) - Unaudited Pro Forma Financial Information (Table) (Details) - Filonikis Product Carrier S.A. $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($) $ / shares
Business Acquisition [Line Items]
Total revenues	$ 245,825
Partnership's net income	53,677
Preferred unit holders' interest in Partnership's net income	11,101
General Partner's interest in Partnership's net income	850
Common unit holders interest in Partnership's net income	$ 41,726
Net income per common unit basic and diluted (adjusted for the March 2019 Reverse Split) \| $ / shares	$ 2.42

Acquisition of Filonikis Product Carrier S.A. (M/T Amor) - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	10 Months Ended	12 Months Ended
	Oct. 24, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Business Acquisition [Line Items]
Equity offering (adjusted for the March 2019 Reverse Split)	40,528
Price per common unit (adjusted for the March 2019 Reverse Split)	$ 22.47
Charter Revenues		$ 265,210	$ 204,462	$ 205,594
Filonikis Product Carrier S.A.
Business Acquisition [Line Items]
Acquisition related costs	$ 264
Cash consideration for acquisition of vessel	$ 16,000
Duration of above market acquired time charter	1 year
Charter Revenues				980
Net income				$ 222
WACC used for calculation of above market acquired time charter				7.50%
Time charter ending October 2017 \| Cargill International S.A. (Cargill) \| Filonikis Product Carrier S.A.
Business Acquisition [Line Items]
Time Charter Years				2 years
Charter earliest redelivery				30 days
Time charter immediately after October 2017 \| CMTC \| Filonikis Product Carrier S.A.
Business Acquisition [Line Items]
Time Charter Years				0.17 years

Transactions with Related Parties - Consolidated Balance Sheets (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Liabilities:
Due to related parties	$ 17,742	$ 14,234
Deferred revenue - current (e)	8,926	18,800
CSM – payments on behalf of the Partnership (a)
Liabilities:
Due to related parties	16,638	13,218
Management fee payable to CSM (b)
Liabilities:
Due to related parties	1,104	1,016
Capital Maritime And Trading Corp.
Liabilities:
Deferred revenue - current (e)	0	2,829
Total liabilities	$ 17,742	$ 17,063

Transactions with Related Parties - Charter Revenues (Table) (Details)	12 Months Ended
	Dec. 31, 2018
M/T Arionas
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	01/2017
Termination or earliest expected redelivery	05/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Amore Mio II
Related Party Transaction
Time Charter (TC) in years	0.9
Commencement of Charter	08/2016
Termination or earliest expected redelivery	09/2017
Gross Daily Hire Rate	$21.0
Net Daily Hire Rate	$20.7
M/T Aristotelis
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	01/2017
Termination or earliest expected redelivery	03/2018
Gross Daily Hire Rate	$13.8
Net Daily Hire Rate	$13.6
M/T Ayrton II
Related Party Transaction
Time Charter (TC) in years	2.0
Commencement of Charter	02/2016
Termination or earliest expected redelivery	03/2018
Gross Daily Hire Rate	$18.0
Net Daily Hire Rate	$17.8
M/T Miltiadis M II
Related Party Transaction
Time Charter (TC) in years	0.9
Commencement of Charter	08/2016
Termination or earliest expected redelivery	08/2017
Gross Daily Hire Rate	$25.0
Net Daily Hire Rate	$24.7
M/T Miltiadis M II
Related Party Transaction
Time Charter (TC) in years	0.8 to 1.0
Commencement of Charter	10/2017
Termination or earliest expected redelivery	08/2018
Gross Daily Hire Rate	$18.0
Net Daily Hire Rate	$18.0
M/T Amadeus
Related Party Transaction
Time Charter (TC) in years	2.0
Commencement of Charter	06/2015
Termination or earliest expected redelivery	08/2017
Gross Daily Hire Rate	$17.0
Net Daily Hire Rate	$16.8
M/T Atlantas II
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	10/2016
Termination or earliest expected redelivery	12/2017
Gross Daily Hire Rate	$13.0
Net Daily Hire Rate	$12.8
M/T Atlantas II
Related Party Transaction
Time Charter (TC) in years	0.4 to 0.7
Commencement of Charter	01/2018
Termination or earliest expected redelivery	07/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Amoureux
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	04/2017
Termination or earliest expected redelivery	04/2018
Gross Daily Hire Rate	$22.0
Net Daily Hire Rate	$22.0
M/T Aktoras
Related Party Transaction
Time Charter (TC) in years	0.8 to 1.0
Commencement of Charter	09/2017
Termination or earliest expected redelivery	01/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Aiolos
Related Party Transaction
Time Charter (TC) in years	0.8 to 1.0
Commencement of Charter	09/2017
Termination or earliest expected redelivery	07/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Amor
Related Party Transaction
Time Charter (TC) in years	0.2
Commencement of Charter	09/2017
Termination or earliest expected redelivery	01/2018
Gross Daily Hire Rate	$14.0
Net Daily Hire Rate	$13.8

Transactions with Related Parties - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Mar. 31, 2018 USD ($)	Mar. 31, 2017 USD ($)	Sep. 30, 2011
Related Party Transaction
Number of vessels	36
Vessel operating expenses	$ 12,665	$ 11,629	$ 10,866
General and administrative expenses	5,716	6,234	6,253
Executive services agreement with CGP
Related Party Transaction
General and administrative expenses	1,688	1,688	1,688
Capital Ship Management Corp. \| Fixed fee management agreement
Related Party Transaction
Vessel operating expenses	117	488	981
Capital Ship Management Corp. \| Floating fee management agreement
Related Party Transaction
Vessel operating expenses	$ 11,483	10,100	8,865
Capital Ship Management Corp. \| Crude Carriers Corp. ("Crude") management agreement
Related Party Transaction
Number of vessels	3					5
Vessel operating expenses	$ 1,065	$ 1,041	$ 1,020
Sales and purchase fee			1.00%
Commercial service fee			1.25%
Management agreement termination fees				$ 10,347	$ 10,124
Management agreement waiver terms	Effective from January 1, 2017 the Manager agreed to waive going forward (i) the sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of the three vessels and (ii) the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered.

Vessels, net and assets held for sale - Additional Information (Details) - USD ($) $ in Thousands	1 Months Ended	4 Months Ended	8 Months Ended	12 Months Ended
	Jan. 17, 2018	May 04, 2018	Sep. 11, 2018	Dec. 31, 2018	Dec. 31, 2017	Dec. 22, 2017	Dec. 31, 2016
Property Plant And Equipment
Above market acquired charters acquisition				$ 10,041
Vessel improvement costs capitalized				75,327
Assets held for sale					$ 29,027
Paid advances relating to the construction of exhaust gas cleaning systems and ballast water treatment systems				3,090	0
Impairment of vessel				$ 28,805	3,282		$ 0
M/T Aristotelis
Property Plant And Equipment
Sale price agreed in Memorandum of Agreement						$ 29,400
Date of vessel sale						Apr. 25, 2018
Inventories					165
Assets held for sale					29,027
Gross Daily Hire Rate				$13.8
Commencement of Charter				01/2017
Time Charter Years				1.0
Classification as asset held for sale					28,862
Impairment of vessel					3,282
M/T Amore Mio II
Property Plant And Equipment
Sale price agreed in Memorandum of Agreement			$ 11,150
Date of vessel sale			Oct. 15, 2018
M/T Anikitos
Property Plant And Equipment
Cash consideration for acquisition of vessel		$ 15,875
Fair value of vessels acquired		31,004
Above market acquired charters acquisition		496
Contracted price		31,500
Fair value of the loan assumed		$ 15,625
Gross Daily Hire Rate		15.3
Time Charter Years		Thirty months, with the option to terminate 30 days earlier
Termination of charter		July 2020
Charterer Name		Petroleo Brasileiro S.A. 'Petrobras'
M/T Aristaios
Property Plant And Equipment
Cash consideration for acquisition of vessel	$ 24,167
Fair value of vessels acquired	42,955
Above market acquired charters acquisition	9,545
Contracted price	52,500
Fair value of the loan assumed	$ 28,333
Gross Daily Hire Rate	26.4
Time Charter Years	Five years, with the option to terminate 45 days earlier
Termination of charter	January 2022
Charterer Name	Tesoro Far East Maritime Company 'Tesoro'
Vessels' Improvements
Property Plant And Equipment
Vessel improvement costs capitalized				$ 1,368	$ 967

Above market acquired charters - Amortization Schedule (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
For the year ending December 31,
2019	$ 17,084
2020	14,287
2021	10,652
2022	8,371
2023	8,371
Thereafter	9,421
Total	$ 68,186	$ 75,035	$ 90,243

Long-Term Debt - Total Debt (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument
Total long-term debt	$ 445,890	$ 475,750
Less: Deferred loan issuance costs	4,866	6,635
Less: loan associated with vessel held for sale		14,781
Total long-term debt, net	441,024	454,334
Less: Current portion of long-term debt	53,680	52,057
Add: Current portion of deferred loan issuance costs	1,332	1,543
Long-term debt, net	388,676	403,820
(i) Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)
Debt Instrument
Total long-term debt	$ 387,426	460,000
Margin	3.25%
(ii) Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”,the “Amor Tranche”)
Debt Instrument
Total long-term debt	$ 15,422	$ 15,750
Margin	2.50%
(iii) Assumed in January 2018 maturing in January 2024 (the “Aristaios credit facility ”)
Debt Instrument
Total long-term debt	$ 27,417
Margin	2.85%
(iv) Assumed in May 2018 maturing in June 2023 (the “2015 credit facility ” the “Anikitos Tranche”)
Debt Instrument
Total long-term debt	$ 15,625
Margin	2.50%

Long-Term Debt - Annual Loan Payments (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
2019	$ 53,680
2020	54,745
2021	55,100
2022	65,270
2023	198,843
Thereafter	18,252
Total	445,890	$ 475,750
2017 Credit Facility (i)
Debt Instrument [Line Items]
2019	50,534
2020	50,534
2021	50,534
2022	50,534
2023	185,290
Thereafter	0
Total	387,426	460,000
2015 Credit Facility (Amor Tranche) (ii)
Debt Instrument [Line Items]
2019	1,313
2020	1,313
2021	1,313
2022	11,483
2023	0
Thereafter	0
Total	15,422	$ 15,750
Aristaios Credit Facility (iii)
Debt Instrument [Line Items]
2019	1,833
2020	1,833
2021	1,833
2022	1,833
2023	1,833
Thereafter	18,252
Total	27,417
2015 Credit Facility (Anikitos Tranche) (iv)
Debt Instrument [Line Items]
2019	0
2020	1,065
2021	1,420
2022	1,420
2023	11,720
Thereafter	0
Total	$ 15,625

Long-Term Debt - Additional Information (Details) $ in Thousands	9 Months Ended		12 Months Ended
	Oct. 04, 2017 USD ($)	Oct. 02, 2017 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	May 04, 2018 USD ($)	Jan. 17, 2018 USD ($)	Oct. 01, 2017 USD ($)
Debt Instrument [Line Items]
Long-term debt outstanding balance			$ 445,890	$ 475,750
Number of vessels			36
Repayment amount				13,016
Liability associated with vessel held for sale, part of the Tranche A				14,781
Interest expense			$ 25,429	$ 24,782	$ 22,674
Weighted average interest rate			5.35%	4.29%
Repayment of credit facility			$ 73,818	$ 129,262	$ 17,354
2011 Credit Facility - Prepaid in full
Debt Instrument [Line Items]
Long-term debt outstanding balance								$ 14,000
Repayment of credit facility		$ 14,000
Tranche A \| Amendment of 2017 Credit Facility repayment schedule
Debt Instrument [Line Items]
Repayment amount			4,554
Balloon payment, payable together with the final quarterly instalment			134,758
Tranche B \| Amendment of 2017 Credit Facility repayment schedule
Debt Instrument [Line Items]
Repayment amount			8,079
2017 Credit Facility
Debt Instrument [Line Items]
Repayment amount			52,275
2015 Credit Facility
Debt Instrument [Line Items]
Repayment amount			328
Aristaios Credit Facility
Debt Instrument [Line Items]
Long-term debt outstanding balance			27,417
Repayment amount			$ 916
Credit facility margin			2.85%
New senior secured term loan facility
Debt Instrument [Line Items]
Senior secured term loan facility, arrangement date				Sep. 06, 2017
Line of credit facility, maximum borrowing capacity				$ 460,000
Number of Tranches				2
Latest date the outstanding repayments will be repaid				Oct. 04, 2023
Debt variable rate basis				LIBOR
Credit facility margin				3.25%
New senior secured term loan facility \| Tranche A
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 259,000
Number of vessels				11
Repayment installments				24
Frequency of Payments				quarterly
Repayment amount				$ 4,833
Balloon payment, payable together with the final quarterly instalment				$ 143,008
Starting period of payment installments				Jan. 04, 2018
New senior secured term loan facility \| Tranche B
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity				$ 201,000
Number of vessels				24
Repayment installments				24
Frequency of Payments				quarterly
Repayment amount				$ 8,375
Starting period of payment installments				Jan. 04, 2018
New senior secured term loan facility \| Refinances 2007 credit facility, 2008 credit facility and 2013 credit facility
Debt Instrument [Line Items]
Refinancing of debt, amount	$ 460,000
Repayment of credit facility	$ 102,246
In connection with the sale of M/T Aristotelis \| 2017 Credit Facility
Debt Instrument [Line Items]
Repayment of credit facility			$ 14,383
M/T Anikitos \| ING Bank N.V.
Debt Instrument [Line Items]
Long-term debt outstanding balance						$ 15,625
Line of credit facility, arrangement date			Nov. 19, 2015
Repayment installments			13
Frequency of Payments			quarterly
Repayment amount			$ 355
Balloon payment, payable together with the final quarterly instalment			$ 11,010
Starting period of payment installments			May 31, 2020
Debt variable rate basis			LIBOR
Credit facility margin			2.50%
Maturity date			Jun. 30, 2023
M/T Aristaios \| Credit Agricole Corporate & Investment Bank and ING Bank NV
Debt Instrument [Line Items]
Long-term debt outstanding balance							$ 28,333
Line of credit facility, arrangement date			Jan. 02, 2017
Repayment installments			12
Frequency of Payments			semi-annual
Repayment amount			$ 916
Balloon payment, payable together with the final quarterly instalment			$ 17,333
Starting period of payment installments			Jul. 31, 2018
Debt variable rate basis			LIBOR
Credit facility margin			2.85%
Maturity date			Jan. 31, 2024
In connection with the sale of M/T Amore Mio II \| 2017 Credit Facility
Debt Instrument [Line Items]
Repayment of credit facility			$ 5,916

Long-Term Debt Covenants Description (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2018 USD ($)
Debt Instrument [Line Items]
Ratio Of EBITDA To Net Interest Expense	2:1
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 and the mortgaging of vessels and requirements such as, the ratio of EBITDA to Net Interest Expenses to be no less than 2:1, a minimum cash requirement of $500 per vessel, the ratio of net Total Indebtedness to the Total Assets of the Partnership adjusted for the Market Value of the fleet not to exceed 0.75:1 for the 2017 credit facility and the ratio of net Total Indebtedness to the aggregate Market Value of the fleet not to exceed 0.725:1 for the 2015 and Aristaios credit facilities. The credit facilities also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% for the 2017 credit facility and 120% for the 2015 credit facility, of the aggregate outstanding amount under these facilities. In the case of the Aristaios credit facility the collateral maintenance requirement should not be less than 125% (as long as the vessel is under charter with Tesoro) and 140% (at all other times). 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, 2018 and 2017 the Partnership was in compliance with all financial covenants.
2015 Credit Facility
Debt Instrument [Line Items]
Net Total Indebtedness to the aggregate Market Value of the Total fleet	72.50%
Collateral Maintenance Requirement	120.00%
Aristaios Credit Facility
Debt Instrument [Line Items]
Net Total Indebtedness to the aggregate Market Value of the Total fleet	72.50%
Aristaios Credit Facility \| Under charter with Tesoro
Debt Instrument [Line Items]
Collateral Maintenance Requirement	125.00%
Aristaios Credit Facility \| All Other Times
Debt Instrument [Line Items]
Collateral Maintenance Requirement	140.00%
2017 Credit Facility
Debt Instrument [Line Items]
Net Total Indebtedness to the aggregate Market Value of the Total fleet	75.00%
Collateral Maintenance Requirement	125.00%
Minimum cash requirement per collateralized vessel
Debt Instrument [Line Items]
Restricted cash	$ 500

Partners' Capital - Distributions to Unitholders (Table) (Details)	12 Months Ended
	Dec. 31, 2018 $ / shares
Minimum Quarterly Distribution \| Common Unitholders
Marginal percentage interest in distributions	98.00%
Minimum Quarterly Distribution \| General Partner
Marginal percentage interest in distributions	2.00%
First Target Distribution \| Common Unitholders
Marginal percentage interest in distributions	98.00%
First Target Distribution \| General Partner
Marginal percentage interest in distributions	2.00%
Second Target Distribution \| Common Unitholders
Marginal percentage interest in distributions	85.00%
Second Target Distribution \| General Partner
Marginal percentage interest in distributions	15.00%
Third Target Distribution \| Common Unitholders
Marginal percentage interest in distributions	75.00%
Third Target Distribution \| General Partner
Marginal percentage interest in distributions	25.00%
Thereafter \| Common Unitholders
Marginal percentage interest in distributions	65.00%
Thereafter \| General Partner
Marginal percentage interest in distributions	35.00%
Maximum \| First Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	$ 1.6975
Maximum \| Second Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	1.8725
Maximum \| Third Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	2.0475
Minimum \| Minimum Quarterly Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	1.6275
Minimum \| Second Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	1.6975
Minimum \| Third Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	1.8725
Minimum \| Thereafter \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)	$ 2.0475

Partners' Capital - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended			24 Months Ended
	Sep. 30, 2016	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2013	Oct. 24, 2016
Equity offering (adjusted for the March 2019 Reverse Split)						40,528
Class B Convertible Preferred Unit Subscription Agreement
Class B convertible preferred unit issued					24,655,554
Conversion price of the Preferred units					$ 9
Preferred units conversion rate					1
May 23, June 6, 2012 and 2013 Class B Convertible Preferred Units Subscription Agreements 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 the Agreements 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.
CMTC
Interest of CGP in the partnership		1.71%
Minimum \| CMTC \| Right waived
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)		$ 1.6975
Maximum \| CMTC \| Right waived
Distribution target amount per unit (adjusted for the March 2019 Reverse Split)		$ 1.75
The "ATM Offering" \| UBS Securities LLC ("UBS")
Equity offering (adjusted for the March 2019 Reverse Split)			736,008	200,212
Net proceeds from equity offering			$ 17,815	$ 4,546
Maximum proceeds from the issuance of new common units	$ 50,000
Offering expenses			$ 176	$ 890
The "ATM Offering" \| Maximum \| UBS Securities LLC ("UBS")
Commission percentage		2.00%

Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) $ in Thousands	Dec. 31, 2018 USD ($)
Commitments and Contingencies [Abstract]
2019	$ 176,339
2020	123,347
2021	63,296
2022	53,564
2023	51,216
Thereafter	60,432
Total	$ 528,194

Subsequent Events (Details) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 27, 2019 USD ($)	Dec. 31, 2018 $ / shares shares	Dec. 31, 2017 shares
Subsequent Event [Line Items]
Common Partnership Units Issued		18,178,100	18,178,100
Common Partnership Units Outstanding		18,178,100	18,178,100
General Partner Units Issued		348,570
General Partner Units Outstanding		348,570	348,570
Common Unitholders
Subsequent Event [Line Items]
Dividends Payable, Date Declared		Jan. 22, 2019
Dividend declared \| $ / shares		$ 0.315
Dividends Payable, Date to be Paid		Feb. 14, 2019
Dividends Payable, Date of Record		Feb. 05, 2019
Preferred Unitholders
Subsequent Event [Line Items]
Dividends Payable, Date Declared		Jan. 22, 2019
Dividend declared \| $ / shares		$ 0.21375
Dividends Payable, Date to be Paid		Feb. 08, 2019
Dividends Payable, Date of Record		Feb. 01, 2019
Transaction Agreement with DSS
Subsequent Event [Line Items]
Number of vessels disposed	25
Proceeds from business spin off \| $	$ 319,651
Closing date of Transaction Agreement		Mar. 27, 2019
Transaction Agreement with DSS \| Class B Preferred Units
Subsequent Event [Line Items]
Total redemption price \| $	$ 119,502
Redemption percentage	100.00%
Before Reverse Split
Subsequent Event [Line Items]
Common Partnership Units Issued		127,246,692
Common Partnership Units Outstanding		127,246,692
General Partner Units Issued		2,439,989
General Partner Units Outstanding		2,439,989
2017 Credit Facility \| Transaction Agreement with DSS
Subsequent Event [Line Items]
Repayment amount \| $	$ 89,298
Credit Facility 2015 and Aristaios Credit Facility \| Transaction Agreement with DSS
Subsequent Event [Line Items]
Repayment amount \| $	$ 146,517