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interests in net income are calculated as if all net income for periods subsequent to April&#160;4, 2007, were distributed according to the terms of the Partnership's Agreement, regardless of whether those earnings would or could be distributed. The Partnership Agreement does not provide for the distribution of net income; rather, it provides for the distribution of available cash (Note 13), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves established by the Partnership's board of directors to provide for the proper resources for the Partnership's business. Unlike available cash, net income is affected by non-cash items. The Partnership follows the guidance relating to the Application of the Two-Class Method and its application to Master Limited Partnerships which considers whether the incentive distributions of a master limited partnership represent a participating security when considered in the calculation of earnings per unit under the Two-Class Method.</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"> This guidance also considers whether the partnership agreement contains any contractual limitations concerning distributions to the incentive distribution rights that would impact the amount of earnings to allocate to the incentive distribution rights for each reporting period.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Under the Partnership Agreement, the holder of the incentive distribution rights in the Partnership, which is currently the CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions after the minimum quarterly distribution (Note 13).</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Excluding the non-cash vessels' impairment charge and gain from bargain purchase, as this was not distributed to the Partnership's unit holders for the years ended December&#160;31, 2012 and 2011 respectively the Partnership's net income for the years ended December&#160;31, 2012, 2011 and 2010 did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP's interest in net income.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times" size="2" color="#000000">All common unit equivalents were antidilutive for the year ended December 31, 2012 because the limited partners were allocated a net loss in this period. </font><font style="font-face: Times New Roman" size="2" color="#000000">The Partnership excluded the dilutive effect of 1,187,130 and 795,200 non-vested unit awards in calculating dilutive EPU for its common unitholders as of December&#160;31, 2011 and 2010, respectively, as they were anti-dilutive. 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follows:&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="334" bgcolor="#ffffff"><div>&#160;</div></td> <td width="15" bgcolor="#ffffff"><div>&#160;</div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Numerators</b></font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="100" bgcolor="#ffffff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="98" bgcolor="#ffffff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="98" bgcolor="#ffffff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2010</b></font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net (loss) / &#160;income</font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(21,189)</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">87,120</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">17,936</font></div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Less:</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div>&#160;</div></td> <td width="76" bgcolor="#cceeff"><div>&#160;</div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="76" bgcolor="#cceeff"><div>&#160;</div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="76" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net income available to preferred unit holders</font></div></td> <td width="15" bgcolor="#ffffff"><div>&#160;</div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">10,809</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">General Partner's interest in Partnership's net (loss) / income</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(640)</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,742</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">359</font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net (loss) / income allocable to unvested units</font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,571</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">147</font></div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net (loss) / income available to common unit holders</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(31,358)</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>83,807</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>17,430</b></font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Denominators</b></font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Weighted average number of common units outstanding, basic and diluted</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">68,256,072</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">47,138,336</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">32,437,314</font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net (loss) / income per common unit:</b></font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Basic and diluted</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(0.46)</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1.78</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>0.54</b></font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="4" color="#000000">&#160;</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="334" bgcolor="#ffffff"><div>&#160;</div></td> <td width="15" bgcolor="#ffffff"><div>&#160;</div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Numerators</b></font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="100" bgcolor="#ffffff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="98" bgcolor="#ffffff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="98" bgcolor="#ffffff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2010</b></font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net (loss) / &#160;income</font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(21,189)</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">87,120</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">17,936</font></div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Less:</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div>&#160;</div></td> <td width="76" bgcolor="#cceeff"><div>&#160;</div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="76" bgcolor="#cceeff"><div>&#160;</div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="76" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net income available to preferred unit holders</font></div></td> <td width="15" bgcolor="#ffffff"><div>&#160;</div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">10,809</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">General Partner's interest in Partnership's net (loss) / income</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(640)</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,742</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">359</font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net (loss) / income allocable to unvested units</font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,571</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#ffffff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">147</font></div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net (loss) / income available to common unit holders</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(31,358)</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>83,807</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>17,430</b></font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Denominators</b></font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Weighted average number of common units outstanding, basic and diluted</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">68,256,072</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">47,138,336</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">32,437,314</font></div></td> </tr> <tr> <td width="334" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net (loss) / income per common unit:</b></font></div></td> <td width="15" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="18" bgcolor="#ffffff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#ffffff"><div>&#160;</div></td> <td width="76" bgcolor="#ffffff"><div>&#160;</div></td> </tr> <tr> <td width="334" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Basic and diluted</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(0.46)</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1.78</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="76" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>0.54</b></font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div>&#160;</div><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>7.</b></font></div></td> 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width="14"><div>&#160;</div></td> </tr> <tr> <td width="28"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="257"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Bank Loans</b></font></div></td> <td width="173"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Entity</b></font></div></td> <td colspan="2" width="95"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31,</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td colspan="2" width="95"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31,</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="14"><div align="center">&#160;</div></td> <td colspan="4" width="76"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Margin</b></font></div></td> </tr> <tr> <td width="28" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">(i)</font></div></td> <td width="257" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Issued in April, 2007 maturing in June, 2017</font></div></td> <td width="173" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Capital Product Partners L.P.</font></div></td> <td width="28" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">250,850</font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="70" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">366,500</font></div></td> <td width="14" bgcolor="#ccecff"><div align="right">&#160;</div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2%&#160;</font></div></td> <td colspan="3" width="22" bgcolor="#ccecff"><div>&#160;</div></td> </tr> <tr> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000">(ii)</font></div></td> <td width="257"><div><font style="font-face: Times New Roman" size="2" color="#000000">Issued in March, 2008 maturing in March 2018</font></div></td> <td width="173"><div 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width="257" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Issued in June 2011 maturing in March 2018</font></div></td> <td width="173" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Capital Product Partners L.P.</font></div></td> <td width="28" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="66" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">19,000</font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="70" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;25,000</font></div></td> <td width="14" bgcolor="#ccecff"><div align="right">&#160;</div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.25%&#160;</font></div></td> <td colspan="3" width="22" bgcolor="#ccecff"><div>&#160;</div></td> </tr> <tr> <td width="28"><div>&#160;</div></td> <td width="257"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="173"><div>&#160;</div></td> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>458,365</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="70"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>633,580</b></font></div></td> <td width="14"><div>&#160;</div></td> <td width="53"><div>&#160;</div></td> <td colspan="3" width="22"><div>&#160;</div></td> </tr> <tr> <td width="28" bgcolor="#ccecff"><div>&#160;</div></td> <td width="257" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Less: Current portion</font></div></td> <td width="173" bgcolor="#ccecff"><div>&#160;</div></td> <td width="28" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="70" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">18,325</font></div></td> <td width="14" bgcolor="#ccecff"><div>&#160;</div></td> <td width="53" bgcolor="#ccecff"><div>&#160;</div></td> <td colspan="3" width="22" bgcolor="#ccecff"><div>&#160;</div></td> </tr> <tr> <td width="28"><div>&#160;</div></td> <td width="257"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Long-term portion</b></font></div></td> <td width="173"><div>&#160;</div></td> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>458,365</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="70"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>615,255</b></font></div></td> <td width="14"><div>&#160;</div></td> <td width="53"><div>&#160;</div></td> <td colspan="3" width="22"><div>&#160;</div></td> </tr> <tr> <td width="28"></td> <td width="257"></td> <td width="173"></td> <td width="28"></td> <td width="66"></td> <td 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width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexandros II</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/29/2008</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,000</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="2" width="7"><div>&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="3" width="41"><div>&#160;</div></td> <td colspan="6" 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bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">20,000</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="6" width="38" 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color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="3" color="#000000">-</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="6" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">19,000</font></div></td> </tr> <tr> <td width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">Crude Carriers Corp. and its subsidiaries, M/V Agamemnon and M/V Archimidis</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="0"><div align="right">&#160;</div></td> <td width="0"><div align="right">&#160;</div></td> <td width="64"><div align="right">&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0"><div align="right">&#160;</div></td> <td width="0"><div align="right">&#160;</div></td> <td colspan="2" width="7"><div align="right">&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">129,431</font></div></td> <td width="0"><div align="right">&#160;</div></td> <td width="0"><div align="right">&#160;</div></td> <td colspan="3" width="41"><div align="right">&#160;</div></td> <td colspan="6" width="38"><div align="right"><font style="font-face: Times New Roman" size="2" 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color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">The required annual loan payments to be made subsequent to December&#160;31, 2012 are as follows:</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="211"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="60"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>Year ended December&#160;31,</b></font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="88"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>$370,000&#160;Credit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Facility (i)</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="88"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>$350,000&#160;Credit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Facility (ii)</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="82"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>$25,000&#160;Credit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Facility (iii)</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="80"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2013</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="2" color="#000000">2014</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div align="right">&#160;</div></td> <td width="26"><div align="right">&#160;</div></td> <td width="22"><div align="right">&#160;</div></td> <td width="60"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2015</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="26" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="22" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="2" color="#000000">2016</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,900</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">31,419</font></div></td> <td width="16"><div align="right">&#160;</div></td> <td width="26"><div align="right">&#160;</div></td> <td width="22"><div align="right">&#160;</div></td> <td width="60"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,000</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">87,319</font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2017</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">198,950</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">31,419</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="26" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="22" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,000</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">234,369</font></div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">125,677</font></div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="60"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,000</font></div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">136,677</font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>250,850</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>188,515</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="26" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="22" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>19,000</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>458,365</b></font></div></td> </tr> <tr> <td width="211"><div>&#160;</div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="66"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="66"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="60"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="64"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="4" color="#000000">&#160;</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="28"><div>&#160;</div></td> <td width="257"><div>&#160;</div></td> <td width="173"><div>&#160;</div></td> <td width="28"><div>&#160;</div></td> <td width="66"><div>&#160;</div></td> <td colspan="2" width="95"><div>&#160;</div></td> <td width="14"><div>&#160;</div></td> <td colspan="2" width="53"><div>&#160;</div></td> </tr> <tr> <td width="28"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="257"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Bank Loans</b></font></div></td> <td width="173"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Entity</b></font></div></td> <td colspan="2" width="95"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31,</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td colspan="2" width="95"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31,</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="14"><div align="center">&#160;</div></td> <td colspan="2" width="76"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Margin</b></font></div></td> </tr> <tr> <td width="28" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">(i)</font></div></td> <td width="257" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Issued in April, 2007 maturing in June, 2017</font></div></td> <td width="173" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Capital Product Partners L.P.</font></div></td> <td width="28" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">250,850</font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="70" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">366,500</font></div></td> <td width="14" bgcolor="#ccecff"><div align="right">&#160;</div></td> <td colspan="2" width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2%&#160;</font></div></td> </tr> <tr> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000">(ii)</font></div></td> <td width="257"><div><font style="font-face: Times New Roman" size="2" color="#000000">Issued in March, 2008 maturing in March 2018</font></div></td> <td width="173"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Capital Product Partners L.P.</font></div></td> <td width="28"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">188,515</font></div></td> <td width="25"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="70"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">242,080</font></div></td> <td width="14"><div align="right">&#160;</div></td> <td colspan="2" width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3%&#160;</font></div></td> </tr> <tr> <td width="28" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">(iii)</font></div></td> <td width="257" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Issued in June 2011 maturing in March 2018</font></div></td> <td width="173" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Capital Product Partners L.P.</font></div></td> <td width="28" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="66" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">19,000</font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="70" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;25,000</font></div></td> <td width="14" bgcolor="#ccecff"><div align="right">&#160;</div></td> <td colspan="2" width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.25%&#160;</font></div></td> </tr> <tr> <td width="28"><div>&#160;</div></td> <td width="257"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="173"><div>&#160;</div></td> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>458,365</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="70"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>633,580</b></font></div></td> <td width="14"><div>&#160;</div></td> <td colspan="2" width="53"><div>&#160;</div></td> </tr> <tr> <td width="28" bgcolor="#ccecff"><div>&#160;</div></td> <td width="257" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Less: Current portion</font></div></td> <td width="173" bgcolor="#ccecff"><div>&#160;</div></td> <td width="28" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="70" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">18,325</font></div></td> <td width="14" bgcolor="#ccecff"><div>&#160;</div></td> <td colspan="2" width="53" bgcolor="#ccecff"><div>&#160;</div></td> </tr> <tr> <td width="28"><div>&#160;</div></td> <td width="257"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Long-term portion</b></font></div></td> <td width="173"><div>&#160;</div></td> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" 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Intra-group balances and transactions have been eliminated upon consolidation. Balances and transactions with CMTC and its affiliates have not been eliminated, but are presented as balances and transactions with related parties. The Partnership's consolidated financial statements have been prepared after giving retroactive effect to the combination of entities under common control since July&#160;22, 2010 as described in Note 1 to the consolidated financial statements.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(b)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Use of Estimates:</b></i> 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. Additionally, these consolidated financial statements include allocations for certain expenses, including corporate overhead expenses that are normally incurred by a listed company.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(c)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Other Comprehensive Income:</b></i> The Partnership separately records certain transactions directly as components of partners' capital / stockholders' equity. For the years ended December&#160;31, 2012 and 2011 other comprehensive income is comprised of changes in fair value of interest rate swaps that qualify as cash flow hedges and the amortization of the accumulated other comprehensive loss attributable to interest rate swaps that do not qualify as cash flow hedges. 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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 monthly in advance. Some of the Partnership's time charters also include 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 monthly in advance, and the charterer generally assumes all risk and costs of operation during the bareboat charter period. A voyage is deemed to commence upon the later of the completion of discharge of the vessel's previous cargo or upon vessel arrival to the agreed upon port based on the terms of a voyage contract that is not cancelable and voyage is deemed to end upon the completion of discharge of the delivered cargo. 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Revenues are recognized ratably on a straight line basis over the period of the respective time or bareboat charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned. Deferred revenue represents cash received in advance of being earned. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long term liability.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of commissions, port expenses, canal dues and bunkers. Commissions are expensed over the related charter period and all the other voyage expenses are expensed as incurred. Under the Partnership's time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer, with the exception of Overseas Shipholding Group Inc. bareboat charter agreements where the charterer is responsible for the commissions. 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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.&#160;Dollar, are translated into the functional currency using the exchange rate at that date. 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At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate provision for doubtful accounts. &#160;As of December 31, 2012 allowance for doubtful accounts amounted to $54. No allowance for doubtful accounts was accounted for as of December&#160;31, 2011. </font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(i)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Inventories:</b></i> Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost or market value. 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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 vessels' 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.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(k)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Impairment of Long-lived Assets:</b></i> 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 on a vessel by vessel basis. If the carrying value of the related asset 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.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">In recent years market conditions as compared to previous years have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its assets. The Partnership has performed an undiscounted cash flow test based on US&#160;GAAP as of December&#160;31, 2012 and 2011 determining undiscounted projected net operating cash flows for the vessels and comparing them to the vessels' carrying values.&#160;In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs&#160;and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership's historical performance and expectations for the vessels' utilization under the deployment strategy.&#160;Based on these assumptions, the Partnership determined that the undiscounted cash flows supported the vessels' carrying amounts as of December&#160;31, 2012 and 2011.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(l)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Intangible assets:</b></i> The Partnership records all identified tangible and intangible assets or any liabilities associated with the acquisition of a business at fair value. When a business is acquired that owns a vessel with an existing charter agreement, the Partnership determines the present value of the difference between: (i)&#160;the contractual charter rate and (ii)&#160;the prevailing market rate for a charter of equivalent duration. When determining present value, the Partnership uses Weighted Average Cost of Capital (&#147;WACC&#148;).&#160;The resulting above-market (assets) and below-market (liabilities) charters are amortized using straight line method as a reduction and increase, respectively, to revenues over the remaining term of the charters.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(m)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Deferred charges, net:</b></i> are comprised mainly of fees paid to lenders for obtaining new loans or refinancing existing loans and are capitalized as deferred finance charges and amortized to &#147;interest expense and finance cost&#148; over the term of the respective loan using the effective interest rate method.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"><b></b></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(n)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Pension and Retirement Benefit Obligations</b></i>: The vessel-owning companies included in the consolidated financial statements employ the crew on board under short-term contracts (usually up to seven months) and accordingly, they are not liable for any pension or post retirement benefits.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(o)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Concentration of Credit Risk:</b></i> Financial instruments which potentially subject the Partnership to significant concentrations of credit risk consist principally of cash and cash equivalents, interest rate swaps, and trade accounts receivable. The Partnership places its cash and cash equivalents, consisting mostly of deposits, and enters into interest rate swap agreements 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, 2012, CMTC and British Petroleum Shipping Limited accounted for 45% and 23% of the Partnership's total revenue, respectively. For the year ended December&#160;31, 2011, British Petroleum Shipping Limited, CMTC, and Overseas Shipholding Group Inc. (&#147;OSG&#148;) accounted for 32%, 24% and 11% of the Partnership's total revenue, respectively. For the year ended December&#160;31, 2010 British Petroleum Shipping Limited, Morgan Stanley Capital Group Inc. and OSG accounted for 49%, 11% and 11% of total revenue, respectively. 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width="39"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="102"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">65</font></div></td> </tr> <tr> <td width="296" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total assets</b></font></div></td> <td width="48" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="39" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="102" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>15,273</b></font></div></td> </tr> <tr> <td width="296"><div><font style="font-face: Times New Roman" size="2" color="#000000">Trade accounts payable</font></div></td> <td width="48"><div><font style="font-face: Times New 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style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos (1)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">36,760</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/04/2007</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/16/2006</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Carnation Shipping Company</font></div></td> <td width="22"><div><font style="font-face: Times New 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style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/12/2007</font></div></td> </tr> <tr> <td width="196" height="25"><div><font style="font-face: Times New Roman" size="2" color="#000000">Tempest Maritime Inc.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/12/2003</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aiolos &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T British Emissary)&#160;(1)</font></div></td> <td width="64"><div 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New Roman" size="2" color="#000000">01/20/2005</font></div></td> </tr> <tr> <td width="196" height="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Sorrel Shipmanagement Inc.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">02/07/2006</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexandros II &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T Overseas Serifos) (2)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,258</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/29/2008</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/29/2008</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Baymont Enterprises Incorporated</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" 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bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">02/03/2004</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aristofanis (3),(8)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">12,000</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/30/2008</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/02/2005</font></div></td> </tr> <tr> <td width="196" height="25"><div><font style="font-face: Times New Roman" size="2" color="#000000">Wind Dancer Shipping Inc.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">02/07/2006</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aristotelis II &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T Overseas Sifnos) (2)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,226</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> </tr> <tr> <td width="196" height="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Belerion Maritime Co.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/24/2006</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aris II &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T Overseas Kimolos)&#160;(2)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,218</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/20/2008</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/20/2008</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Mango Finance Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">07/14/2006</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agamemnon II (3), (4)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,238</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/07/2009</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11/24/2008</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Navarro International S.A.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">07/14/2006</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Ayrton II (3), (5)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,238</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/13/2009</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/10/2009</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Adrian Shipholding Inc.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/22/2004</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis (3)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">36,721</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/30/2010</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">03/29/2006</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Patroklos Marine Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/V Cape Agamemnon</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">179,221</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/09/2011</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/25/2011</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/06/2006</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Miltiadis M II (6)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">162,000</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/26/2006</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Alexander the Great Carriers Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/26/2010</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexander The Great (6),(9)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">297,958</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">03/26/2010</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Achilleas Carriers Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/26/2010</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Achilleas (6),(9)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">297,863</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/25/2010</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div>&#160;</div><div><font style="font-face: Times New Roman" size="2" color="#000000">Amoureux Carriers Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/14/2010</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div>&#160;</div><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amoureux (6)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">150,000</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Aias Carriers Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/14/2010</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aias (6)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">150,000</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> 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width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">12/22/2012</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/28/2012</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Archimidis Container Carrier Corp.</font></div></td> <td width="22"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/19/2012</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/V Archimidis (9)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">103,773</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">12/22/2012</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/22/2012</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Miltiadis M II Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div>&#160;</div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/28/2012</font></div></td> <td width="21" bgcolor="#ccecff"><div>&#160;</div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="30" bgcolor="#ccecff"><div>&#160;</div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="43" bgcolor="#ccecff"><div>&#160;</div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="545"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Year ended December&#160;31,</b></font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="63"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Amount</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2013</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">95,362</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000">2014</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">73,347</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2015</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">47,031</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000">2016</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">19,839</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2017</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">15,403</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">38,445</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>289,427</b></font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> <tr> <td width="545"><div>&#160;</div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="54"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="143"><div>&#160;</div></td> <td colspan="2" width="99"><div>&#160;</div></td> <td colspan="2" width="115"><div>&#160;</div></td> <td colspan="2" width="153"><div>&#160;</div></td> <td colspan="2" width="84"><div>&#160;</div></td> <td colspan="3" width="148"><div>&#160;</div></td> </tr> <tr> <td width="143"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessel Name</b></font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charter&#160;(TC)/</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Bare Boat</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charter&#160;(BC)</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(Years)</b></font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Commencement&#160;of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charter</b></font></div></td> <td colspan="2" width="153"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charterer</b></font></div></td> <td colspan="2" width="84"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Profit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Sharing&#160;(1)</b></font></div></td> <td colspan="3" width="148"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Gross&#160;Daily&#160;Hire</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Rate</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(Without Profit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Sharing)</b></font></div></td> </tr> <tr> <td colspan="2" width="152" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/V Archimidis (4)</font></div></td> <td colspan="2" width="99" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">3 + 2 + 1 + 1 TC &#160;</font></div></td> <td colspan="2" width="115" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2012</font></div></td> <td colspan="2" width="153" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">A.P. Moller-Maersk A.S.</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$34.0</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/V Agamemnon (4)</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">3 + 2 + 1 + 1 TC &#160;</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">A.P. 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Shipping Ltd</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.5&#160;(3y)</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aktoras (M/T British Envoy)</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">5+3&#160;BC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2006</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">B.P. 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align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$42.2</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50(3)</font></div></td> <td colspan="2" width="148"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.5</font></div></td> </tr> <tr> <td colspan="2" width="152" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td colspan="2" width="99" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2012</font></div></td> <td colspan="2" width="153" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50(3)</font></div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.8</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" 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color="#000000">$13.5&#160;(3y)</font></div></td> </tr> <tr> <td colspan="2" width="152" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Avax</font></div></td> <td colspan="2" width="99" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2012</font></div></td> <td colspan="2" width="153" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50&#160;(3)</font></div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Axios</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50&#160;(3)</font></div></td> <td colspan="2" width="148"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0</font></div></td> </tr> <tr> <td colspan="2" width="152" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis</font></div></td> <td colspan="2" width="99" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td colspan="2" width="153" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50&#160;(3)</font></div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.4</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Assos (M/T</font></div><div align="center"><font style="font-face: 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align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Atrotos (M/T El</font></div><div align="center"><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Pipila)</font></div></td> <td colspan="2" width="99" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">5 BC</font></div></td> <td colspan="2" width="115" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04/2009</font></div></td> <td colspan="2" width="153" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Arrendadora Ocean</font></div><div><font style="font-face: Times New Roman" size="2" color="#000000">Mexicana, S.A. de</font></div><div><font style="font-face: Times New Roman" size="2" color="#000000">C.V (5)</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$16.8</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Akeraios</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50(3)</font></div></td> <td colspan="2" width="148"><div align="center"><font style="font-face: Times New Roman" size="2" 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color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">(M/T Overseas Serifos)</font></div></td> <td colspan="2" width="99" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10 BC</font></div></td> <td colspan="2" width="115" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">01/2008</font></div></td> <td colspan="2" width="153" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Overseas Shipholding</font></div><div><font style="font-face: Times New Roman" size="2" color="#000000">Group Inc. 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(2)</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.0</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agamemnon II</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">01/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">B.P. 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Shipping Ltd</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50(3)</font></div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 (1y)+$15 (1y)</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/TAmore Mio II (6)</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">BP Shipping </font></div></td> <td colspan="2" width="84"><div>&#160;</div></td> <td colspan="2" 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<tr> <td width="143"></td> <td width="9"></td> <td width="90"></td> <td width="9"></td> <td width="105"></td> <td width="9"></td> <td width="143"></td> <td width="9"></td> <td width="75"></td> <td width="9"></td> <td width="139"></td> <td width="9"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="233"><div>&#160;</div></td> <td width="23"><div>&#160;</div></td> <td width="13"><div>&#160;</div></td> <td width="58"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td colspan="2" width="26"><div>&#160;</div></td> <td width="28"><div>&#160;</div></td> <td width="59"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="23"><div>&#160;</div></td> <td width="17"><div>&#160;</div></td> <td width="62"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="29"><div>&#160;</div></td> <td width="28"><div>&#160;</div></td> <td width="59"><div>&#160;</div></td> </tr> <tr> <td width="233"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="23"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="7" width="208"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Employee&#160;equity&#160;compensation</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="23"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="6" width="221"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Non-Employee&#160;equity&#160;compensation</b></font></div></td> </tr> <tr> <td width="233"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>Unvested&#160;Units</b></font></div></td> <td width="23"><div><font style="font-face: 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color="#000000">&#160;</font></div></td> <td width="58" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">536,666</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="34" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="59" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,985</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="23" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="62" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">650,464</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="29" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="28" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="59" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,736</font></div></td> </tr> <tr> <td width="233"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vested</font></div></td> <td width="23"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="13"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="58"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">198,531</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="34"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="59"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,464</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="23"><div><font style="font-face: Times 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bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="13" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="58" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>338,135</b></font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="34" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="59" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,521</b></font></div></td> <td width="16" 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align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>4,736</b></font></div></td> </tr> <tr> <td width="233"></td> <td width="23"></td> <td width="13"></td> <td width="58"></td> <td width="21"></td> <td width="21"></td> <td width="5"></td> <td width="28"></td> <td width="59"></td> <td width="16"></td> <td width="23"></td> <td width="17"></td> <td width="62"></td> <td width="24"></td> <td width="29"></td> <td width="28"></td> <td width="59"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="270"><div>&#160;</div></td> <td width="34"><div>&#160;</div></td> <td width="18"><div>&#160;</div></td> <td width="86"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="34"><div>&#160;</div></td> <td width="18"><div>&#160;</div></td> <td width="86"><div>&#160;</div></td> </tr> <tr> <td width="270"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="34"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="105"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000"><b>As&#160;of&#160;December&#160;31,</b></font></div><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2012</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="34"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="105"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000"><b>As&#160;of&#160;December&#160;31,</b></font></div><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2011</b></font></div></td> </tr> <tr> <td width="270"><div>&#160;</div></td> 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style="font-face: Times New Roman" size="2" color="#000000">General partner units</font></div></td> <td width="34" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="86" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,415,757</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="34" bgcolor="#cceeff"><div>&#160;</div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="86" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,415,757</font></div></td> </tr> <tr> <td width="270"><div><font style="font-face: Times New Roman" size="2" color="#000000">Preferred units</font></div></td> <td width="34"><div>&#160;</div></td> <td width="18"><div align="right">&#160;</div></td> <td width="86"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">15,555,554</font></div></td> <td width="16"><div>&#160;</div></td> <td width="34"><div>&#160;</div></td> <td width="18"><div>&#160;</div></td> <td width="86"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>-</b></font></div></td> </tr> <tr> <td width="270" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total partnership units</b></font></div></td> <td width="34" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="18" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="86" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>86,343,388</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="34" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="18" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="86" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>70,787,834</b></font></div></td> </tr> <tr> <td width="270"><div>&#160;</div></td> <td width="34"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="18"><div><font style="font-face: Times New Roman" size="1" 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width="25"><div>&#160;</div></td> <td width="17"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="283"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="206"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="6" width="157"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Marginal&#160;Percentage</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Interest</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>in 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align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$0.3750</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="28" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="36" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">98</font></div></td> <td width="23" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="25" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" 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bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="28" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="36" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">85</font></div></td> <td width="23" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="25" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">15</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> </tr> <tr> <td width="283"><div><font style="font-face: Times New Roman" size="2" color="#000000">Third Target Distribution</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="206"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">above&#160;$0.4688&#160;up&#160;to&#160;$0.5625</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="28"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="36"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">75</font></div></td> <td width="23"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="25"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">25</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> </tr> <tr> <td width="283" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="206" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">above $0.5625</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="28" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="36" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">50</font></div></td> <td width="23" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="25" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">50</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> 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color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="67"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2012</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="67"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2011</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="67"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2010</b></font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Voyage expenses:</b></font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> <td width="19" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> <td width="19" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> 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width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,279</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Bunkers</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,921</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">8,400</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,295</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Port expenses</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,390</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,412</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Other</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(5)</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">96</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">23</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,668</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>11,730</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>7,009</b></font></div></td> </tr> <tr> <td width="440"><div align="center">&#160;</div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessel operating expenses:</b></font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> <td width="19" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> <td width="19" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Crew costs and related costs</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">13,230</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,963</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">551</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Insurance expense</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,830</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">784</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">69</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Spares, repairs, maintenance and other expenses</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,231</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">390</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">269</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Stores and lubricants</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,115</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">651</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">112</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Management fees</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">21,784</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">29,279</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">28,294</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vetting, insurances, spares and repairs (Note 4)</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,850</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,237</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,966</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Other operating expenses</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">720</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">161</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">34</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>45,760</b></font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>35,465</b></font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" 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style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="422"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="49"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="422"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="6" width="175"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>As&#160;of&#160;December&#160;31,</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="422"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="70"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2012</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2011</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="422" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Accrued loan interest and loan fees</font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">62</font></div></td> <td width="16" bgcolor="#cceeff"><div>&#160;</div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="49" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">114</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="422"><div><font style="font-face: Times New Roman" size="2" color="#000000">Accrued operating expenses</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,311</font></div></td> <td width="16"><div>&#160;</div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="15"><div>&#160;</div></td> <td width="49"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">834</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="422" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Accrued voyage expenses and commissions</font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="15" bgcolor="#cceeff"><div>&#160;</div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">909</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="15" bgcolor="#cceeff"><div>&#160;</div></td> <td width="49" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">848</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="422"><div><font style="font-face: Times New Roman" size="2" color="#000000">Accrued general and administrative expenses</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">499</font></div></td> <td width="16"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="49"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">490</font></div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="422" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="22" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,781</b></font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="22" bgcolor="#cceeff"><div>&#160;</div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="49" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,286</b></font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> </tr> <tr> <td width="422"><div>&#160;</div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="54"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="49"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="108"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="46"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="46"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="48"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="12"><div>&#160;</div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="17"><div>&#160;</div></td> <td width="47"><div>&#160;</div></td> </tr> <tr> <td width="108"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>Bank</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="46"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Currency</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td colspan="2" width="55"><div align="center"><font style="font-face: Times New Roman" size="1" 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color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Value date</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Maturity&#160;date</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Fair&#160;market</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>value as of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>December 31,</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2012</b></font></div></td> </tr> <tr> <td width="108" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">HSH&#160;Nordbank</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="46" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">USD</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="46" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,584</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="48" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4.099</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="12" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08.14.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08.20.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.28.2013</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="47" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">14</font></div></td> </tr> <tr> <td width="108"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">HSH Nordbank</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="46"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">USD</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="46"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">46,000</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="48"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.5250</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="12"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.25.2008</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.27.2008</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.27.2013</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="47"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">353</font></div></td> </tr> <tr> <td colspan="3" width="179" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total derivative</b></font></div><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>instruments fair</b></font></div><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>value</b></font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div>&#160;</div></td> <td width="46" bgcolor="#cceeff"><div>&#160;</div></td> <td width="16" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="48" bgcolor="#cceeff"><div>&#160;</div></td> <td width="16" bgcolor="#cceeff"><div>&#160;</div></td> <td width="12" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;$</b></font></div></td> <td width="47" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>367</b></font></div></td> </tr> <tr> <td width="108"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="46"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8"><div>&#160;</div></td> <td width="46"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10"><div>&#160;</div></td> <td width="48"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="12"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="47"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="105"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="43"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="42"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="42"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="13"><div>&#160;</div></td> <td width="69"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="69"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="70"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="47"><div>&#160;</div></td> <td width="61"><div>&#160;</div></td> </tr> <tr> <td width="105"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>Bank</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="43"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Currency</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td colspan="2" width="50"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Notional</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Amount</b></font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td colspan="2" width="50"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Fixed</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Rate</b></font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="13"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="69"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Trade date</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="69"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Value date</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="70"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Maturity&#160;date</b></font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td colspan="2" width="108"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Fair&#160;market&#160;value&#160;as</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>of December&#160;31, 2012</b></font></div></td> </tr> <tr> <td width="105" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">HSH&#160;Nordbank</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="43" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">USD</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="42" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,500</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="42" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.8950</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="13" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="69" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04.24.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="69" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04.30.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="70" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.28.2013</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="47" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="61" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">100</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="281"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="39"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="9"><div>&#160;</div></td> <td width="55"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="43"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="281"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="63"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="93"><div align="center"><font style="font-face: Times New Roman" size="1" 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bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(12,677</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="39" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="55" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(12,677</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="43" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="281"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">December&#160;31, 2012&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(467</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="39"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="55"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(467</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="43"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="57" height="50"><div><font style="font-face: Times New Roman" size="1" color="#000000">Derivatives designated in cash flow hedging relationships recognized in OCI (Effective Portion)</font></div></td> <td colspan="3" width="152"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Change in Fair Value of hedging instrument recognized in OCI (Effective Portion)</font></div></td> <td width="85"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Location of Gain/(loss) Reclassified into consolidated statements of comprehensive (loss) / income (Effective Portion)</font></div></td> <td colspan="3" width="143"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Amount of Loss Reclassified from OCI into consolidated statements of comprehensive (loss) / income (Effective Portion)</font></div></td> <td colspan="3" width="133"><div 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Roman" size="1" color="#000000">2010</font></div></td> <td width="85"><div>&#160;</div></td> <td width="47"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">2012</font></div></td> <td width="47"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">2011</font></div></td> <td width="47"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">2010</font></div></td> <td width="47"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">2012</font></div></td> <td width="47"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">2011</font></div></td> <td width="38"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">2010</font></div></td> <td width="76"><div>&#160;</div></td> <td width="38"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">2012</font></div></td> <td width="38"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">2011</font></div></td> <td width="38"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">2010</font></div></td> </tr> <tr> <td width="57" height="33" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">Interest rate swaps</font></div></td> <td width="47" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">(1,903)</font></div></td> <td width="57" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">(4,234)</font></div></td> <td width="47" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">(17,159)</font></div></td> <td width="85" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">Interest expense and finance cost</font></div></td> <td 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width="105"><div>&#160;</div></td> <td width="7"><div>&#160;</div></td> <td width="6"><div>&#160;</div></td> <td width="24"><div>&#160;</div></td> <td width="119"><div>&#160;</div></td> <td width="7"><div>&#160;</div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Derivative Liabilities</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="6" width="302"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Balance sheet location</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" 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New Roman" size="2" color="#000000"><b>Derivatives designated as hedging instruments -&#160;effective hedges</b></font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38" bgcolor="#cceeff"><div>&#160;</div></td> <td width="105" bgcolor="#cceeff"><div>&#160;</div></td> <td width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div>&#160;</div></td> <td width="119" bgcolor="#cceeff"><div>&#160;</div></td> <td width="7" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000">Derivative instruments long-term liabilities.</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" 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short-term liabilities.</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">100</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="119" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">839&#160;&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="447"><div>&#160;</div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="105"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="119"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="447"><div>&#160;</div></td> <td colspan="4" width="158"><div>&#160;</div></td> <td colspan="4" width="158"><div>&#160;</div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total derivatives not designated as hedging instruments -&#160;ineffective hedges</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38"><div>&#160;</div></td> <td width="105"><div>&#160;</div></td> <td width="7"><div>&#160;</div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div>&#160;</div></td> <td width="119"><div>&#160;</div></td> <td width="7"><div>&#160;</div></td> </tr> <tr> <td width="447" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Derivative instruments short-term liabilities.</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">367</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="119" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">7,416&#160;&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total Derivative Liabilities</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>467</b></font></div></td> <td width="7"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="6"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="119"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>12,677</b></font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> <tr> <td width="447"><div>&#160;</div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="105"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="119"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="70"><div>&#160;</div></td> <td width="67"><div>&#160;</div></td> <td width="81"><div>&#160;</div></td> <td width="110"><div>&#160;</div></td> <td width="48"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="3"><div>&#160;</div></td> <td width="3"><div>&#160;</div></td> <td width="9"><div>&#160;</div></td> <td colspan="6" width="107"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="20"><div>&#160;</div></td> <td colspan="5" width="20"><div>&#160;</div></td> </tr> <tr> <td width="70"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="67"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="6" width="296"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31, 2012</b></font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="15" width="176"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31, 2011</b></font></div></td> </tr> <tr> <td width="70"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="67"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="192"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Interest&#160;Rate&#160;Swaps</b></font></div></td> <td width="48"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="2" width="33"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="7" width="117"><div align="center"><font style="font-face: Times New Roman" size="2" 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color="#000000">467</font></div></td> <td width="9" bgcolor="#cceeff"><div>&#160;</div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="47" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">467</font></div></td> <td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td colspan="4" width="58" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">8,255&#160;&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="3" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="41" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;8,255&#160;&#160;</font></div></td> </tr> <tr> <td colspan="3" width="219"><div align="center">&#160;</div></td> <td width="110"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="48"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="5" width="63"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="47"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="4" width="58"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td colspan="3" width="219"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Long-term liabilities</font></div></td> <td width="110"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="48"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="5" width="63"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="47"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="4" width="58"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;4,422</font></div></td> <td width="7"><div>&#160;</div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="41"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,422 </font></div></td> </tr> <tr> <td colspan="3" width="219" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td width="110" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="48" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="5" width="63" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>467</b></font></div></td> <td width="9" bgcolor="#cceeff"><div>&#160;</div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="47" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>467</b></font></div></td> <td width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="4" width="58" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>12,677</b></font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;</b></font></div></td> <td width="3" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="41" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>12,677</b></font></div></td> </tr> <tr> <td width="70"></td> <td width="67"></td> <td width="81"></td> <td width="110"></td> <td width="48"></td> <td width="22"></td> <td width="16"></td> <td width="16"></td> <td width="3"></td> <td width="3"></td> <td width="9"></td> <td width="8"></td> <td width="17"></td> <td width="47"></td> <td width="9"></td> <td width="8"></td> <td width="17"></td> <td width="8"></td> <td width="8"></td> <td width="20"></td> <td width="20"></td> <td width="7"></td> <td width="3"></td> <td width="7"></td> <td width="41"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="211"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="60"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="1" color="#000000"><b>Year ended December&#160;31,</b></font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="88"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>$370,000&#160;Credit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Facility (i)</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="88"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>$350,000&#160;Credit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Facility (ii)</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="82"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>$25,000&#160;Credit</b></font></div><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Facility (iii)</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="80"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2013</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="22" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="2" color="#000000">2014</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div align="right">&#160;</div></td> <td width="26"><div align="right">&#160;</div></td> <td width="22"><div align="right">&#160;</div></td> <td width="60"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2015</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="26" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="22" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="2" color="#000000">2016</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,900</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">31,419</font></div></td> <td width="16"><div align="right">&#160;</div></td> <td width="26"><div align="right">&#160;</div></td> <td width="22"><div align="right">&#160;</div></td> <td width="60"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,000</font></div></td> <td width="16"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">87,319</font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2017</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">198,950</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">31,419</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="26" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="22" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,000</font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">234,369</font></div></td> </tr> <tr> <td width="211"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="21"><div>&#160;</div></td> <td width="66"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">125,677</font></div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="60"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,000</font></div></td> <td width="16"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">136,677</font></div></td> </tr> <tr> <td width="211" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>250,850</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="21" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="66" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>188,515</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="26" bgcolor="#cceeff"><div align="right">&#160;</div></td> <td width="22" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="60" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>19,000</b></font></div></td> <td width="16" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="26" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="64" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>458,365</b></font></div></td> 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New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="60"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="64"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td colspan="7" width="520"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td colspan="2" 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bgcolor="#cceeff"><div>&#160;</div></td> <td width="62" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">07/13/2007</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">46,850</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="2" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Apostolos</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/20/2007</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">56,000</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="2" width="7"><div>&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="3" width="41"><div>&#160;</div></td> <td colspan="2" width="38"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Anemos I</font></div></td> <td width="0" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="62" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/28/2007</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">56,000</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexandros II</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/29/2008</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,000</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="2" width="7"><div>&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="3" width="41"><div>&#160;</div></td> <td colspan="2" width="38"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amore Mio II</font></div></td> <td width="0" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="62" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">03/27/2008</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">46,000</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aristofanis</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/30/2008</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="2" width="7"><div>&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,500</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="3" width="41"><div>&#160;</div></td> <td colspan="2" width="38"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aristotelis II</font></div></td> <td width="0" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="62" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">20,000</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aris II</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/20/2008</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">24,000</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="2" width="7"><div>&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,584</font></div></td> <td width="0"><div>&#160;</div></td> <td width="0"><div>&#160;</div></td> <td colspan="3" width="41"><div>&#160;</div></td> <td colspan="2" width="38"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/V Cape Agamemnon</font></div></td> <td width="0" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="62" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/09/2011</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div>&#160;</div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="3" color="#000000">-</font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">19,000</font></div></td> </tr> <tr> <td width="391"><div><font style="font-face: Times New Roman" size="2" color="#000000">Crude Carriers Corp. and its subsidiaries, M/V Agamemnon and M/V Archimidis</font></div></td> <td width="0"><div align="center">&#160;</div></td> <td width="0"><div>&#160;</div></td> <td width="62"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="0"><div align="right">&#160;</div></td> <td width="0"><div align="right">&#160;</div></td> <td width="64"><div align="right">&#160;</div></td> <td colspan="2" width="44"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="0"><div align="right">&#160;</div></td> <td width="0"><div align="right">&#160;</div></td> <td colspan="2" width="7"><div align="right">&#160;</div></td> <td width="69"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">129,431</font></div></td> <td width="0"><div align="right">&#160;</div></td> <td width="0"><div align="right">&#160;</div></td> <td colspan="3" width="41"><div align="right">&#160;</div></td> <td colspan="2" width="38"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> </tr> <tr> <td width="391" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="0" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="62" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="64" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="2" width="44" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>250,850</b></font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="69" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>188,515</b></font></div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td width="0" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="3" width="41" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="2" width="38" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>19,000</b></font></div></td> </tr> <tr> <td width="391"></td> <td width="0"></td> <td width="0"></td> <td width="62"></td> <td width="0"></td> <td width="0"></td> <td width="64"></td> <td width="22"></td> <td width="22"></td> <td width="0"></td> <td width="0"></td> <td width="4"></td> <td width="3"></td> <td width="69"></td> <td width="0"></td> <td width="0"></td> <td width="16"></td> <td width="16"></td> <td width="8"></td> <td width="12"></td> <td width="25"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="7" height="35"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Year ended December&#160;31,</b></font></div></td> <td width="150"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Cape Agamemnon</b></font></div></td> <td width="75"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/T&#160;Assos</b></font></div></td> <td width="117"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Agamemnon</b></font></div></td> <td width="108"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Archimidis</b></font></div></td> <td width="51"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2013</font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,481</font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">863</font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">797</font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>9,498</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000">2014</font></div></td> <td width="150"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">612</font></div></td> <td width="117"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">863</font></div></td> <td width="108"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">797</font></div></td> <td width="51"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>7,629</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2015</font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">501</font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">635</font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>6,493</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000">2016</font></div></td> <td width="150"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,372</font></div></td> <td width="75"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td> <td width="108"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="51"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,372</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2017</font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,357</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="150"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">13,371</font></div></td> <td width="75"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="108"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="51"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>13,371</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>40,171</b></font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>3,093</b></font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,227</b></font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,229</b></font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>47,720</b></font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="250" height="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Above market acquired charters</b></font></div></td> <td colspan="2" width="147"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Cape Agamemnon</b></font></div></td> <td colspan="2" width="75"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/T&#160;Assos</b></font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Agamemnon</b></font></div></td> <td colspan="2" width="106"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Archimidis</b></font></div></td> <td colspan="2" width="75"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at January&#160;1, 2011</b></font></div></td> <td width="41" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>8,062</b></font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>8,062</b></font></div></td> </tr> <tr> <td width="250" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisitions</font></div></td> <td width="41"><div>&#160;</div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,551</font></div></td> <td width="21"><div>&#160;</div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="37"><div>&#160;</div></td> <td width="78"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="34"><div>&#160;</div></td> <td width="72"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="21"><div>&#160;</div></td> <td width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,551</font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Amortization</font></div></td> <td width="41" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(3,008)</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(2,481)</font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(5,489)</font></div></td> </tr> <tr> <td width="250" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2011</b></font></div></td> <td width="41"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>45,543</b></font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,581</b></font></div></td> <td width="37"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="78"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="34"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="72"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>51,124</b></font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisitions</font></div></td> <td width="41" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,500</font></div></td> </tr> <tr> <td width="250" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Amortization</font></div></td> <td width="41"><div>&#160;</div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(5,372)</font></div></td> <td width="21"><div>&#160;</div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(2,488)</font></div></td> <td width="37"><div>&#160;</div></td> <td width="78"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(23)</font></div></td> <td width="34"><div>&#160;</div></td> <td width="72"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(21)</font></div></td> <td width="21"><div>&#160;</div></td> <td width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(7,904)</font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2012</b></font></div></td> <td width="41" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>40,171</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>3,093</b></font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,227</b></font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,229</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>47,720</b></font></div></td> </tr> <tr> <td width="250"></td> <td width="41"></td> <td width="105"></td> <td width="21"></td> <td width="54"></td> <td width="37"></td> <td width="78"></td> <td width="34"></td> <td width="72"></td> <td width="21"></td> <td width="53"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="251" height="11"><div>&#160;</div></td> <td colspan="2" width="97"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net Book Value</b></font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at January&#160;1, 2011</b></font></div></td> <td width="29" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>707,339</b></font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisitions and improvements</font></div></td> <td width="29"><div>&#160;</div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">403,861</font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Depreciation</font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(37,214)</font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2011</b></font></div></td> <td width="29"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1,073,986</b></font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisition and improvements</font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">133,105</font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Disposals</font></div></td> <td width="29"><div>&#160;</div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(156,128)</font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Impairment of vessels</font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(43,178)</font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Depreciation</font></div></td> <td width="29"><div>&#160;</div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(48,235)</font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2012</b></font></div></td> <td width="29" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>959,550</b></font></div></td> </tr> <tr> <td width="251"></td> <td width="29"></td> <td width="68"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="144"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="98"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="123"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="139"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="155"><div>&#160;</div></td> </tr> <tr> <td width="144"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessel Name</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charter&#160;(TC)</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>in years</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Commencement&#160;of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charter</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Termination&#160;or</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>earliest&#160;expected</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>redelivery</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Gross (Net) Daily</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Hire Rate</b></font></div></td> </tr> <tr> <td width="144" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2010</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2011</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$12.0 ($11.9)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">0.42&#160;TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.0 ($12.8)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.5 ($13.3)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08/2013</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.5 ($13.3)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Axios</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">02/2010</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$12.8 ($12.6)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Axios</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2013</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2010</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$12.0 ($11.9)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.8 ($13.6)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.8 ($13.6)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">2 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2010</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.0 ($12.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.4 ($13.2)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amore Mio II</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">01/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$25.3 ($25.0)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amore Mio II</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">0.9&#160;to&#160;1.2TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$18.25 ($18.0)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Avax</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Avax</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Akeraios</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Akeraios</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Apostolos</font></div></td> <td width="25"><div>&#160;</div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div>&#160;</div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25"><div>&#160;</div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08/2013</font></div></td> <td width="25"><div>&#160;</div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Miltiadis M II</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$18.3 ($18.0)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexander the Great(1)</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$28.0 ($27.7)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amoureux</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1+1+1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$20.0+$24.0+$28.0</font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">($19.8+$23.7+$27.7)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aias</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1+1+1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2013</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" 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color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$28.0 ($27.7)</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="415"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="10" width="298"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>For the year ended</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31,</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Consolidated Statements of Comprehensive (Loss) / Income</b></font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2010</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="415" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Revenues (c)</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">69,938</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">31,799</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,030</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="2" color="#000000">Voyage expenses</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">554</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">165</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vessel operating expenses</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">23,634</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">30,516</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">30,261</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="2" color="#000000">General and administrative expenses (d)</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,092</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,630</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,103</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Interest expense and finance cost (e)</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">210</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(u)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Omnibus Incentive Compensation Plan:</b></i> 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. These units are measured at their fair value equal to the market value of the Partnership's common units on the grant date. The units that contain a time-based service vesting condition are considered unvested units on the grant date and a 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 until non-employees complete the service (Note 14).</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(t)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Segment Reporting:</b></i> 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.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(s)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Income Taxes:</b></i> The Partnership is not subject to the payment of any income tax on its income. Instead, a tax is levied based on the tonnage of the vessels, which is included in operating expenses (Note 11).</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(r)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Net (Loss) / Income Per Limited Partner Unit:</b></i> Basic net income per limited partner unit is calculated by dividing Partnership's net income less net income allocable to preferred unit holders, general partner interest in net income (including incentive distribution rights) and net income allocable to unvested units by the weighted-average number of outstanding limited partner units during the period (Note 15). 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.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(q)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Interest Rate Swap Agreements:</b></i> The Partnership designates its derivatives based upon the intended use, and recognizes all derivatives as either assets or liabilities in the consolidated balance sheet and measures those instruments at fair value. Changes in the fair value of each derivative instrument are recorded depending on the intended use of the derivative and the resulting designation. For a derivative that does not qualify as a hedge, changes in fair value are recognized within the consolidated statements of comprehensive (loss) / income. For derivatives that qualify as cash flow hedges, the changes in fair value of the effective portion are recognized at the end of each reporting period in Other comprehensive income / (loss), until the hedged item is recognized in the consolidated statements of comprehensive (loss) / income. The ineffective portion of a derivative's change in fair value is immediately recognized in the consolidated statements of comprehensive (loss) / income.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(p)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Fair Value of Financial Instruments:</b></i> On January&#160;1, 2008, the Partnership adopted the accounting guidance for Fair Value Measurements for financial assets and liabilities and any other assets and liabilities carried at fair value. This guidance defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. The carrying value of trade receivables, due from related parties, due to related parties, accounts payable and current 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 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&#160;31, 2012. Interest rate swaps are recorded at fair value on the consolidated balance sheet.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(o)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Concentration of Credit Risk:</b></i> Financial instruments which potentially subject the Partnership to significant concentrations of credit risk consist principally of cash and cash equivalents, interest rate swaps, and trade accounts receivable. The Partnership places its cash and cash equivalents, consisting mostly of deposits, and enters into interest rate swap agreements 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, 2012, CMTC and British Petroleum Shipping Limited accounted for 45% and 23% of the Partnership's total revenue, respectively. For the year ended December&#160;31, 2011, British Petroleum Shipping Limited, CMTC, and Overseas Shipholding Group Inc. (&#147;OSG&#148;) accounted for 32%, 24% and 11% of the Partnership's total revenue, respectively. For the year ended December&#160;31, 2010 British Petroleum Shipping Limited, Morgan Stanley Capital Group Inc. and OSG accounted for 49%, 11% and 11% of total revenue, respectively. The Partnership does not obtain rights of collateral from its charterers to reduce its credit risk.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(n)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Pension and Retirement Benefit Obligations</b></i>: The vessel-owning companies included in the consolidated financial statements employ the crew on board under short-term contracts (usually up to seven months) and accordingly, they are not liable for any pension or post retirement benefits.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(m)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Deferred charges, net:</b></i> are comprised mainly of fees paid to lenders for obtaining new loans or refinancing existing loans and are capitalized as deferred finance charges and amortized to &#147;interest expense and finance cost&#148; over the term of the respective loan using the effective interest rate method.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(l)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Intangible assets:</b></i> The Partnership records all identified tangible and intangible assets or any liabilities associated with the acquisition of a business at fair value. When a business is acquired that owns a vessel with an existing charter agreement, the Partnership determines the present value of the difference between: (i)&#160;the contractual charter rate and (ii)&#160;the prevailing market rate for a charter of equivalent duration. When determining present value, the Partnership uses Weighted Average Cost of Capital (&#147;WACC&#148;).&#160;The resulting above-market (assets) and below-market (liabilities) charters are amortized using straight line method as a reduction and increase, respectively, to revenues over the remaining term of the charters.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(k)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Impairment of Long-lived Assets:</b></i> 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 on a vessel by vessel basis. If the carrying value of the related asset 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.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">In recent years market conditions as compared to previous years have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its assets. The Partnership has performed an undiscounted cash flow test based on US&#160;GAAP as of December&#160;31, 2012 and 2011 determining undiscounted projected net operating cash flows for the vessels and comparing them to the vessels' carrying values.&#160;In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs&#160;and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership's historical performance and expectations for the vessels' utilization under the deployment strategy.&#160;Based on these assumptions, the Partnership determined that the undiscounted cash flows supported the vessels' carrying amounts as of December&#160;31, 2012 and 2011.</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="13"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(j)</b></i></font></div></td> <td width="750"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Fixed Assets:</b></i> 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 vessels' 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.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(i)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Inventories:</b></i> Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost or market value. The cost is determined by the first-in, first-out method.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(h)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Trade Accounts Receivable, Net:</b></i> 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 provision for doubtful accounts. &#160;As of December 31, 2012 allowance for doubtful accounts amounted to $54. No allowance for doubtful accounts was accounted for as of December&#160;31, 2011. </font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(f)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Cash and Cash Equivalents:</b></i> 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.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(e)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Foreign Currency Transactions:</b></i> The functional currency of the Partnership is the U.S.&#160;Dollar because the Partnership's vessels operate in international shipping markets that utilize the U.S.&#160;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.&#160;Dollar, are translated into the functional currency using the exchange rate at that date. Gains or losses resulting from foreign currency transactions are included in interest and other income in the accompanying consolidated statements of comprehensive (loss) / income.</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(d)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Accounting for Revenue, Voyage and Operating Expenses</b></i>: 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 monthly in advance. Some of the Partnership's time charters also include 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 monthly in advance, and the charterer generally assumes all risk and costs of operation during the bareboat charter period. A voyage is deemed to commence upon the later of the completion of discharge of the vessel's previous cargo or upon vessel arrival to the agreed upon port based on the terms of a voyage contract that is not cancelable and voyage is deemed to end upon the completion of discharge of the delivered cargo. Revenues under voyage charter agreements are recognized when a voyage agreement exists, the price is fixed, service is provided and the collection of the related revenue is reasonably assured.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">Revenues are recorded over the term of the charter as service is provided and recognized on a pro-rata basis over the duration of the voyage.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">All of the Partnership's time charters and bareboat charters are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee, and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective time or bareboat charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned. Deferred revenue represents cash received in advance of being earned. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long term liability.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of commissions, port expenses, canal dues and bunkers. Commissions are expensed over the related charter period and all the other voyage expenses are expensed as incurred. Under the Partnership's time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer, with the exception of Overseas Shipholding Group Inc. bareboat charter agreements where the charterer is responsible for the commissions. For voyage charters all voyage expenses are paid by the Partnership.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Vessel operating expenses presented in the consolidated financial statements mainly consisted of:</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="70"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#149;</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="672"><div><font style="font-face: Times New Roman" size="2" color="#000000">Management fees payable to the Partnership's manager Capital Shipmanagement Corp. (the &#147;Manager&#148; or &#147;CSM&#148;) under three different types of Management agreements (Note 4); and</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="70"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#149;</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="672"><div><font style="font-face: Times New Roman" size="2" color="#000000">Actual operating expenses such as crewing, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses.</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">Vessel operating expenses are expensed as incurred.</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(c)</b></i></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>Other Comprehensive Income:</b></i> The Partnership separately records certain transactions directly as components of partners' capital / stockholders' equity. For the years ended December&#160;31, 2012 and 2011 other comprehensive income is comprised of changes in fair value of interest rate swaps that qualify as cash flow hedges and the amortization of the accumulated other comprehensive loss attributable to interest rate swaps that do not qualify as cash flow hedges. 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Times New Roman" size="2" color="#000000">A.P. Moller-Maersk A.S.</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div align="center">&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$34.0</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/V Agamemnon (4)</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">3 + 2 + 1 + 1 TC &#160;</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">A.P. 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Shipping Ltd</font></div></td> <td colspan="2" width="84" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.5&#160;(3y)</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aktoras (M/T British Envoy)</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">5+3&#160;BC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2006</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">B.P. 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bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="148" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$16.8</font></div></td> </tr> <tr> <td colspan="2" width="152"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Akeraios</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50(3)</font></div></td> <td colspan="2" width="148"><div align="center"><font style="font-face: Times New Roman" size="2" 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size="2" color="#000000">M/T Apostolos</font></div></td> <td colspan="2" width="99"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">9/2012</font></div></td> <td colspan="2" width="153"><div><font style="font-face: Times New Roman" size="2" color="#000000">CMTC</font></div></td> <td colspan="2" width="84"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">50/50(3)</font></div></td> <td colspan="2" width="148"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0</font></div></td> </tr> <tr> <td colspan="2" width="152" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexandros II (8)</font></div><div align="center"><font style="font-face: Times New Roman" size="3" 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Maersk has the option to extend the charter of both vessels for an additional four years at a gross day rate of US$31.5 and $30.5 per day, respectively for the fourth and fifth year and $32.0 per day for the final two years. 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The Partnership is discussing this matter with OSG. &#160;No assurance can be given that the Partnership will reach an agreement with OSG regarding the remaining duration and rate of the charters, and including other terms of the charter parties and the Partnership's rights to a claim, or, if such an agreement is reached, that it will be approved by bankruptcy court.</font></div></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Calibri" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancelable long-term time and bareboat charter contracts, as of December&#160;31, 2012 were:</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="545"><div>&#160;</div></td> <td width="26"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Year ended December&#160;31,</b></font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="63"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Amount</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2013</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">95,362</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000">2014</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">73,347</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2015</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">47,031</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000">2016</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">19,839</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2017</font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">15,403</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">38,445</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="545" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="26" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>289,427</b></font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> <tr> <td width="545"><div>&#160;</div></td> <td width="26"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="54"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>14.</b></font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Omnibus Incentive Compensation Plan</b></font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>a.</b></font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Partnership's Omnibus Incentive Compensation Plan</b></font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">On April&#160;29, 2008, the Board of Directors approved the Partnership's Omnibus Incentive Compensation Plan (the &#147;Plan&#148;) according to which the Partnership may issue a limited number of awards, not to exceed 500,000 units. The Plan was amended on July&#160;22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 800,000. The Plan is administered by the General Partner as authorized by the Board of Directors. The persons eligible to receive awards under the Plan are officers, directors, and executive, managerial, administrative and professional employees of the Manager, or CMTC, or other eligible persons (collectively, &#147;key persons&#148;) as the General Partner, in its sole discretion, shall select based upon such factors as it deems relevant.&#160;Members of the Board of Directors are considered to be employees of the Partnership (&#147;Employees&#148;) for the purposes of recognition of equity compensation expense, while employees of the Manager, CMTC and other eligible persons under the plan are not considered to be employees of the Partnership (&#147;Non-Employees&#148;). 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.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">On August&#160;25 and 31, 2010 CGP awarded 448,000 and 347,200 unvested units to Employees and Non-Employees, respectively. Awards granted to certain Employees vest in three equal annual installments. The remaining awards will vest on August&#160;31, 2013.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">All unvested units are conditional upon the grantee's continued service as Employee and/or Non-Employee until the applicable vesting date. The unvested units will accrue distributions as declared and paid which will be retained by the custodian of the Plan until the units vest at which time they are payable to the grantee. 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color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="440"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="56"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="56"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="56"><div>&#160;</div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="10" width="296"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>For the years ended December&#160;31,</b></font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="67"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2012</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="67"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000"><b>2011</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="67"><div align="center"><font 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width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Commissions</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,752</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,844</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,279</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Bunkers</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,921</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">8,400</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> 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align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,390</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,412</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Other</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(5)</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">96</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">23</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,668</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>11,730</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>7,009</b></font></div></td> </tr> <tr> <td width="440"><div align="center">&#160;</div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessel operating expenses:</b></font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> <td width="19" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> <td width="19" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="56" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Crew costs and related costs</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">13,230</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,963</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">551</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Insurance expense</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,830</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">784</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">69</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Spares, repairs, maintenance and other expenses</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,231</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">390</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">269</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Stores and lubricants</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,115</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">651</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">112</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Management fees</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">21,784</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">29,279</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">28,294</font></div></td> </tr> <tr> <td width="440" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vetting, insurances, spares and repairs (Note 4)</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,850</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,237</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,966</font></div></td> </tr> <tr> <td width="440"><div><font style="font-face: Times New Roman" size="2" color="#000000">Other operating expenses</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="56"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">720</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" 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style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="56"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="4" color="#000000">&#160;</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div><font style="font-face: Times New Roman" 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width="9"><div>&#160;</div></td> <td colspan="6" width="107"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> <td width="20"><div>&#160;</div></td> <td colspan="5" width="20"><div>&#160;</div></td> </tr> <tr> <td width="70"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="67"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="6" width="296"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31, 2012</b></font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="15" width="176"><div align="center"><font style="font-face: Times New Roman" size="2" 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Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="7" width="117"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Interest&#160;Rate&#160;Swaps</b></font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td colspan="6" width="41"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td colspan="3" width="219" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Short-term liabilities</font></div></td> <td width="110" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="48" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" 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style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="3"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td colspan="3" width="219"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">Long-term liabilities</font></div></td> <td width="110"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="48"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="5" width="63"><div align="right"><font style="font-face: Times New 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color="#000000">&#160;&#160;</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="119"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,422</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="447" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Derivative instruments short-term liabilities.</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">100</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="119" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">839&#160;&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="447"><div>&#160;</div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="38"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="105"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="119"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="7"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="447"><div>&#160;</div></td> <td colspan="4" width="158"><div>&#160;</div></td> <td colspan="4" width="158"><div>&#160;</div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total 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width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">367</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="119" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">7,416&#160;&#160;</font></div></td> <td width="7" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="447"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total Derivative Liabilities</b></font></div></td> <td width="6"><div><font 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designated in cash flow hedging relationships recognized in OCI (Effective Portion)</font></div></td> <td colspan="3" width="152"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Change in Fair Value of hedging instrument recognized in OCI (Effective Portion)</font></div></td> <td width="85"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Location of Gain/(loss) Reclassified into consolidated statements of comprehensive (loss) / income (Effective Portion)</font></div></td> <td colspan="3" width="143"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Amount of Loss Reclassified from OCI into consolidated statements of comprehensive (loss) / income (Effective Portion)</font></div></td> <td colspan="3" width="133"><div align="center"><font style="font-face: Times New Roman" size="1" color="#000000">Amount of Gain recorded in &#160;OCI (Effective Portion)</font></div></td> <td 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style="font-face: Times New Roman" size="2" color="#000000">HSH&#160;Nordbank</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="43" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">USD</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="42" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,500</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="42" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.8950</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="13" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="69" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04.24.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="69" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04.30.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="70" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.28.2013</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="47" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="61" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">100</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">Since March 31, 2012 and May&#160;23, 2012 the interest rate swaps of $46,000 and $1,584 do not qualify as cash flow hedges and are 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color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="46" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,584</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="48" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4.099</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="12" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08.14.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08.20.2008</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.28.2013</font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="47" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">14</font></div></td> </tr> <tr> <td width="108"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">HSH Nordbank</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="46"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">USD</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="46"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">46,000</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="48"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.5250</font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="2" color="#000000">%&#160;</font></div></td> <td width="12"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.25.2008</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.27.2008</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03.27.2013</font></div></td> <td width="24"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="47"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">353</font></div></td> </tr> <tr> <td colspan="3" width="179" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total derivative</b></font></div><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>instruments fair</b></font></div><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>value</b></font></div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8" bgcolor="#cceeff"><div>&#160;</div></td> <td width="46" bgcolor="#cceeff"><div>&#160;</div></td> <td width="16" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div>&#160;</div></td> <td width="48" bgcolor="#cceeff"><div>&#160;</div></td> <td width="16" bgcolor="#cceeff"><div>&#160;</div></td> <td width="12" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77" bgcolor="#cceeff"><div>&#160;</div></td> <td width="24" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;$</b></font></div></td> <td width="47" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>367</b></font></div></td> </tr> <tr> <td width="108"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="46"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="8"><div>&#160;</div></td> <td width="46"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="10"><div>&#160;</div></td> <td width="48"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="12"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="77"><div>&#160;</div></td> <td width="24"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;&#160;&#160;</font></div></td> <td width="17"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="47"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="4" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">For the year ended December&#160;31, 2012 the Partnership recorded an expense of $1,087 from the above amortization.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">The net result of the accumulated OCL amortization and the change of the fair value of certain interest rate swap agreements of $ 1,448 and $2,310 is presented under other non operating income (expense) net as a &#147;Gain on interest rate swap agreement&#148; in the Partnership's consolidated statements of comprehensive (loss) / &#160;income for the years ended December&#160;31, 2012 and 2011 respectively.</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div>&#160;</div><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>6.</b></font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Above market acquired charters</b></font></div></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Calibri" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">In December 22, 2012 the Partnership acquired the shares of Agamemnon and Archimidis, from CMTC with outstanding time charters to Maersk terminating in July, 2015 and October 2015, respectively, which were above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charters were estimated by the Partnership at $2,250 each, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000">In June 2011 the Partnership acquired the shares of Patroklos, the vessel-owning company of M/V Cape Agamemnon from CMTC with an outstanding time charter to COSCO Bulk terminating in June, 2020, which was above the market rates for equivalent time charters prevailing at the time of acquisition. 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size="2" color="#000000">For the years ended December&#160;31, 2012, 2011 and 2010 revenues included a reduction of $7,904, $5,489 and $938 as amortization of the above market acquired charters, respectively.</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">An analysis of above market acquired charters is as follows:</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="250" height="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Above market acquired charters</b></font></div></td> <td colspan="2" width="147"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Cape Agamemnon</b></font></div></td> <td colspan="2" width="75"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/T&#160;Assos</b></font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Agamemnon</b></font></div></td> <td colspan="2" width="106"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Archimidis</b></font></div></td> <td colspan="2" width="75"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at January&#160;1, 2011</b></font></div></td> <td width="41" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>8,062</b></font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>8,062</b></font></div></td> </tr> <tr> <td width="250" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisitions</font></div></td> <td width="41"><div>&#160;</div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,551</font></div></td> <td width="21"><div>&#160;</div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="37"><div>&#160;</div></td> <td width="78"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="34"><div>&#160;</div></td> <td width="72"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="21"><div>&#160;</div></td> <td width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,551</font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Amortization</font></div></td> <td width="41" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(3,008)</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(2,481)</font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(5,489)</font></div></td> </tr> <tr> <td width="250" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2011</b></font></div></td> <td width="41"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>45,543</b></font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,581</b></font></div></td> <td width="37"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="78"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="34"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="72"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#151;</b></font></div></td> <td width="21"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>51,124</b></font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisitions</font></div></td> <td width="41" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">4,500</font></div></td> </tr> <tr> <td width="250" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Amortization</font></div></td> <td width="41"><div>&#160;</div></td> <td width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(5,372)</font></div></td> <td width="21"><div>&#160;</div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(2,488)</font></div></td> <td width="37"><div>&#160;</div></td> <td width="78"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(23)</font></div></td> <td width="34"><div>&#160;</div></td> <td width="72"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(21)</font></div></td> <td width="21"><div>&#160;</div></td> <td width="53"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(7,904)</font></div></td> </tr> <tr> <td width="250" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2012</b></font></div></td> <td width="41" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="105" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>40,171</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="54" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>3,093</b></font></div></td> <td width="37" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="78" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,227</b></font></div></td> <td width="34" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="72" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,229</b></font></div></td> <td width="21" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="53" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>47,720</b></font></div></td> </tr> <tr> <td width="250"></td> <td width="41"></td> <td width="105"></td> <td width="21"></td> <td width="54"></td> <td width="37"></td> <td width="78"></td> <td width="34"></td> <td width="72"></td> <td width="21"></td> <td width="53"></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">As of December&#160;31, 2012 the remaining carrying amount of unamortized above market acquired time and bare-boat charters was $47,720 and will be amortized in future years as follows:</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="7" height="35"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Year ended December&#160;31,</b></font></div></td> <td width="150"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Cape Agamemnon</b></font></div></td> <td width="75"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/T&#160;Assos</b></font></div></td> <td width="117"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Agamemnon</b></font></div></td> <td width="108"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>M/V Archimidis</b></font></div></td> <td width="51"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2013</font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,481</font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">863</font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">797</font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>9,498</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000">2014</font></div></td> <td width="150"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">612</font></div></td> <td width="117"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">863</font></div></td> <td width="108"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">797</font></div></td> <td width="51"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>7,629</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2015</font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">501</font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">635</font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>6,493</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000">2016</font></div></td> <td width="150"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,372</font></div></td> <td width="75"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#151;</font></div></td> <td width="108"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="51"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,372</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">2017</font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">5,357</font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>5,357</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162"><div><font style="font-face: Times New Roman" size="2" color="#000000">Thereafter</font></div></td> <td width="150"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">13,371</font></div></td> <td width="75"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="117"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="108"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> <td width="51"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>13,371</b></font></div></td> </tr> <tr> <td width="7" height="15"><div>&#160;</div></td> <td width="162" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total</b></font></div></td> <td width="150" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>40,171</b></font></div></td> <td width="75" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>3,093</b></font></div></td> <td width="117" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,227</b></font></div></td> <td width="108" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,229</b></font></div></td> <td width="51" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>47,720</b></font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>5.</b></font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessels, net</b></font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">An analysis of vessels is as follows:</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="251" height="11"><div>&#160;</div></td> <td colspan="2" width="97"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net Book Value</b></font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at January&#160;1, 2011</b></font></div></td> <td width="29" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>707,339</b></font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisitions and improvements</font></div></td> <td width="29"><div>&#160;</div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">403,861</font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Depreciation</font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(37,214)</font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2011</b></font></div></td> <td width="29"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1,073,986</b></font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Acquisition and improvements</font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">133,105</font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Disposals</font></div></td> <td width="29"><div>&#160;</div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(156,128)</font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Impairment of vessels</font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(43,178)</font></div></td> </tr> <tr> <td width="251" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Depreciation</font></div></td> <td width="29"><div>&#160;</div></td> <td width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(48,235)</font></div></td> </tr> <tr> <td width="251" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Carrying amount as at December&#160;31, 2012</b></font></div></td> <td width="29" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="68" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>959,550</b></font></div></td> </tr> <tr> <td width="251"></td> <td width="29"></td> <td width="68"></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">All of the Partnership's vessels as of December&#160;31, 2012 have been provided as collateral to secure the Partnership's credit facilities.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000">On December 22, 2012, the Partnership acquired the shares of the vessel owning companies of two post panamax container carrier vessels the M/V Agamemnon and the M/V Archimidis from CMTC in exchange of the shares of the vessel owning companies of two very large crude carrier vessels the M/T Achilleas and the M/T Alexander The Great respectively (Note 3). The M/V Agamemnon and the M/V Archimidis have been recorded in the Partnership's financial statements at their fair value as quoted by independent brokers at the time of the acquisition of $68,000 and $65,000 respectively. In relation to the transaction described above the Partnership recorded an impairment charge of $43,178 which represents the difference between the carrying value of the M/T Achilleas and the M/T Alexander the Great of $180,928 and the fair market value of these vessels of $137,750 as quoted by independent brokers and is presented as &#147;Vessels' impairment charge&#148; in the Partnership's consolidated statements of comprehensive (loss) / income. The vessel-owning companies of the M/T Achilleas and the M/T Alexander the Great were deconsolidated from the Partnership accounts as of the date of their disposal to CMTC. Results of operations, cash flows, and assets and liabilities of these vessels prior to their disposal to CMTC are included in the Partnership's consolidated financial statements.</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000">On February 14, 2012 the Company disposed the M/T Attikos, a 12,000 dwt chemical tanker built in 2005 for net proceeds of $9,807, to an unrelated third party. The Partnership realized a net gain on this disposal of $943 as the carrying value of the vessel at the time of her disposal was $8,864.</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000">On April 4, 2012 the Company disposed the M/T Aristofanis, a 12,000 dwt, chemical tanker built in 2005 for net proceeds of $9,867, to an unrelated third party. The Partnership realized a net gain on this disposal of $353 as the carrying value of the vessel at the time of her disposal was $9,514.</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000">During 2012 the M/T Avax, M/T Axios, M/T Akeraios, M/T Apostolos, M/T Anemos and M/T Atrotos (renamed El Pipila) underwent improvements following their respective first special survey. These costs for these six vessels amounted to $105 and were capitalized as part of the respective vessels' historic cost.</font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000">Following the acquisition of Crude, on September 30, 2011, (Note 3), the Partnership acquired the shares of the vessel owning companies of the M/T Alexander the Great, the M/T Achilleas, the M/T Miltiadis M II, the M/T Amoreux and the M/T Aias. These vessels have been recorded in the Partnership's financial statements at the amount of $351,750 which represents their respective fair value at the completion of the business acquisition.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">On June&#160;9, 2011 the Partnership acquired the shares of Patroklos, the vessel owning company of the M/V Cape Agamemnon for a total consideration of $83,525 (Note 3). The vessel has been recorded in the Partnerships' financial statements at its fair value at the time of acquisition of $51,500. </font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000">During 2011 the M/T Amore Mio II, M/T Arionas, M/T Agisilaos and M/T Assos (renamed Insurgentes), underwent improvements following their respective first special survey / dry docking. These costs for these four vessels amounted to $611 and were capitalized as part of the respective vessels' historic cost.</font></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="429"><div>&#160;</div></td> <td width="1"><div>&#160;</div></td> <td colspan="2" width="21"><div>&#160;</div></td> <td width="68"><div>&#160;</div></td> <td colspan="5" width="1"><div>&#160;</div></td> </tr> <tr> <td width="429"><div>&#160;</div></td> <td colspan="9" width="195"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>For the years ended </b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 31,</b></font></div></td> </tr> <tr> <td width="429"><div>&#160;</div></td> <td colspan="6" width="114"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td colspan="3" width="79"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2010</b></font></div></td> </tr> <tr> <td width="429" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Total revenues</font></div></td> <td colspan="2" width="9" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="4" width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">167,897</font></div></td> <td width="11" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td colspan="2" width="68" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">180,474</font></div></td> </tr> <tr> <td width="429"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Partnership's net income</b></font></div></td> <td colspan="2" width="9"><div>&#160;</div></td> <td colspan="4" width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>18,274</b></font></div></td> <td width="11"><div>&#160;</div></td> <td colspan="2" width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>89,613</b></font></div></td> </tr> <tr> <td width="429" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">General Partner's interest in Partnership's net income</font></div></td> <td colspan="2" width="9" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="4" width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">365</font></div></td> <td width="11" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="68" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,792</font></div></td> </tr> <tr> <td width="429"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Limited Partners' interest in Partnership's net income</b></font></div></td> <td colspan="2" width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="4" width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>17,909</b></font></div></td> <td width="11"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="2" width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>87,821</b></font></div></td> </tr> <tr> <td width="429" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Pro-forma weighted average of Partnership's common units outstanding</font></div></td> <td colspan="2" width="9" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="4" width="105" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">65,472,309</font></div></td> <td width="11" bgcolor="#cceeff"><div>&#160;</div></td> <td colspan="2" width="68" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">52,069,715</font></div></td> </tr> <tr> <td width="429"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net income per common unit (basic and diluted)</b></font></div></td> <td colspan="2" width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="4" width="105"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>0.27</b></font></div></td> <td width="11"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td colspan="2" width="68"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1.67</b></font></div></td> </tr> <tr> <td width="429"></td> <td width="1"></td> <td width="8"></td> <td width="13"></td> <td width="68"></td> <td width="1"></td> <td width="22"></td> <td width="11"></td> <td width="68"></td> <td width="1"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="379"><div>&#160;</div></td> <td width="6"><div>&#160;</div></td> <td width="15"><div>&#160;</div></td> <td width="99"><div>&#160;</div></td> <td width="8"><div>&#160;</div></td> </tr> <tr> <td width="379"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="115"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As&#160;of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>September&#160;30,&#160;2011</b></font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="379" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Current assets</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="99" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">30,300</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="379"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vessels</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="99"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">351,750</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="379" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Total liabilities</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="99" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(159,059</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> </tr> <tr> <td width="379"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net assets acquired and liabilities assumed</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="99"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>222,991</b></font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> <tr> <td width="379" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Purchase price</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="99" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(157,064</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> </tr> <tr> <td width="379"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Gain from bargain purchase</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="99"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>65,927</b></font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="429" height="15"><div>&#160;</div></td> <td width="29"><div>&#160;</div></td> <td colspan="3" width="200"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>For the year ended</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 31 </b></font></div></td> </tr> <tr> <td width="429" height="15"><div>&#160;</div></td> <td width="29"><div align="right">&#160;</div></td> <td width="85"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td colspan="2" width="114"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2010</b></font></div></td> </tr> <tr> <td width="429" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Total revenues</font></div></td> <td width="29"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="85"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;134,473</font></div></td> <td width="19"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="95"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">128,671</font></div></td> </tr> <tr> <td width="429" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Partnership's net income</b></font></div></td> <td width="29" bgcolor="#ccecff"><div>&#160;</div></td> <td width="85" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>72,807</b></font></div></td> <td width="19" bgcolor="#ccecff"><div>&#160;</div></td> <td width="95" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>35,819</b></font></div></td> </tr> <tr> <td width="429" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">General Partner's interest in Partnership's net income</font></div></td> <td width="29"><div>&#160;</div></td> <td width="85"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;1,456</font></div></td> <td width="19"><div>&#160;</div></td> <td width="95"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">716</font></div></td> </tr> <tr> <td width="429" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Limited Partners' interest in Partnership's net income</b></font></div></td> <td width="29" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;$</b></font></div></td> <td width="85" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>71,351</b></font></div></td> <td width="19" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="95" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>35,103</b></font></div></td> </tr> <tr> <td width="429" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Pro-forma weighted average of Partnership's common units outstanding</font></div></td> <td width="29"><div>&#160;</div></td> <td width="85"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#160;50,314,281</font></div></td> <td width="19"><div>&#160;</div></td> <td width="95"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">35,491,287</font></div></td> </tr> <tr> <td width="429" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Net income per common unit (basic and diluted)</font></div></td> <td width="29" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="85" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1.39</font></div></td> <td width="19" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="95" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">0.98</font></div></td> </tr> <tr> <td width="429"></td> <td width="29"></td> <td width="85"></td> <td width="19"></td> <td width="95"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="351"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="65"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="92"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="351"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Intangible assets</b></font></div></td> <td width="40"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="93"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>June&#160;9,&#160;2011</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="40"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="124"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Duration&#160;of&#160;time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>charter&#160;acquired</b></font></div></td> <td width="16"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="351" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Above market acquired time charter</font></div></td> <td width="40" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="65" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,551</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="40" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="92" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">9.1&#160;years</font></div></td> <td width="16" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="208"><div>&#160;</div></td> <td width="20"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="64"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> </tr> <tr> <td width="208"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="20"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="91"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As&#160;of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>June&#160;9,&#160; 2011</b></font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="208" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vessel</font></div></td> <td width="20" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,500</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="208"><div><font style="font-face: Times New Roman" size="2" color="#000000">Above market acquired time charter</font></div></td> <td width="20"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">48,551</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="208" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Identifiable assets</b></font></div></td> <td width="20" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>100,051</b></font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> <tr> <td width="208"><div><font style="font-face: Times New Roman" size="2" color="#000000">Purchase price</font></div></td> <td width="20"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="27"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(83,525)</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="208" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Gain from bargain purchase</b></font></div></td> <td width="20" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="27" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>16,526</b></font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;&#160;</b></font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="396" height="15"><div>&#160;</div></td> <td colspan="4" width="316"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>For the year ended December 31,</b></font></div></td> </tr> <tr> <td width="396" height="15"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="88"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td width="25"><div>&#160;</div></td> <td width="177"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Total revenues</font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="88" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">155,011</font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="177" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">139,890</font></div></td> </tr> <tr> <td width="396" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Partnership's net income</b></font></div></td> <td width="25"><div>&#160;</div></td> <td width="88"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,746</b></font></div></td> <td width="25"><div>&#160;</div></td> <td width="177"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>72,813</b></font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net income available to preferred unit holders</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="88" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">10,809</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="177" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> </tr> <tr> <td width="396" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">General Partner's interest in Partnership's net (loss) / income</font></div></td> <td width="25"><div>&#160;</div></td> <td width="88"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(161)</font></div></td> <td width="25"><div>&#160;</div></td> <td width="177"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,456</font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Common unit holders interest in Partnership's net (loss)/income</b></font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="88" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(7,902)</b></font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="177" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>71,357</b></font></div></td> </tr> <tr> <td width="396" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Pro-forma weighted average of Partnership's common units outstanding</font></div></td> <td width="25"><div align="right">&#160;</div></td> <td width="88"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">68,256,072</font></div></td> <td width="25"><div align="right">&#160;</div></td> <td width="177"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">47,138,336</font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net (loss)/income per common unit (basic and diluted)</b></font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="88" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(0.12)</b></font></div></td> <td width="25" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="177" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1.51</b></font></div></td> </tr> <tr> <td width="396"></td> <td width="25"></td> <td width="88"></td> <td width="25"></td> <td width="177"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="351"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="65"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="92"><div>&#160;</div></td> </tr> <tr> <td width="351"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Intangible assets</b></font></div></td> <td width="40"><div>&#160;</div></td> <td colspan="2" width="93"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 22,&#160;2012</b></font></div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td colspan="2" width="124"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Duration&#160;of&#160;time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>charter&#160;acquired</b></font></div></td> </tr> <tr> <td width="351" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Above market acquired time charter</font></div></td> <td width="40" bgcolor="#cceeff"><div>&#160;</div></td> <td width="27" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="65" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> <td width="16" bgcolor="#cceeff"><div>&#160;</div></td> <td width="40" bgcolor="#cceeff"><div>&#160;</div></td> <td width="31" bgcolor="#cceeff"><div>&#160;</div></td> <td width="92" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3.0&#160;years</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="205"><div>&#160;</div></td> <td width="14"><div>&#160;</div></td> <td width="37"><div>&#160;</div></td> <td width="88"><div>&#160;</div></td> </tr> <tr> <td width="205"><div>&#160;</div></td> <td width="14"><div>&#160;</div></td> <td colspan="2" width="125"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As&#160;of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 22, 2012</b></font></div></td> </tr> <tr> <td width="205" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vessel</font></div></td> <td width="14" bgcolor="#ccecff"><div>&#160;</div></td> <td width="37" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="88" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">65,000</font></div></td> </tr> <tr> <td width="205"><div><font style="font-face: Times New Roman" size="2" color="#000000">Above market acquired time charter</font></div></td> <td width="14"><div>&#160;</div></td> <td width="37"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="88"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> </tr> <tr> <td width="205" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Identifiable assets</b></font></div></td> <td width="14" bgcolor="#ccecff"><div>&#160;</div></td> <td width="37" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;$</b></font></div></td> <td width="88" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>67,250</b></font></div></td> </tr> <tr> <td width="205"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Purchase price</b></font></div></td> <td width="14"><div>&#160;</div></td> <td width="37"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>&#160;$</b></font></div></td> <td width="88"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(67,250)</b></font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="396" height="15"><div>&#160;</div></td> <td colspan="4" width="205"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>For the year ended December 31,</b></font></div></td> </tr> <tr> <td width="396" height="15"><div>&#160;</div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Total revenues</font></div></td> <td width="22" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">154,227</font></div></td> <td width="22" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">137,065</font></div></td> </tr> <tr> <td width="396" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Partnership's net income</b></font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2,210</b></font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>72,508</b></font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Partnership's net income available to preferred unit holders</font></div></td> <td width="22" bgcolor="#ccecff"><div>&#160;</div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">10,809</font></div></td> <td width="22" bgcolor="#ccecff"><div>&#160;</div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> </tr> <tr> <td width="396" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">General Partner's interest in Partnership's net (loss) / income</font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(172)</font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,450</font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Common unit holders interest in Partnership's net (loss) / income</b></font></div></td> <td width="22" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(8,427)</b></font></div></td> <td width="22" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>71,058</b></font></div></td> </tr> <tr> <td width="396" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Pro-forma weighted average of Partnership's common units outstanding</font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">68,256,072</font></div></td> <td width="22"><div>&#160;</div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">47,138,336</font></div></td> </tr> <tr> <td width="396" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net (loss) / income per common unit (basic and diluted)</b></font></div></td> <td width="22" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>(0.12)</b></font></div></td> <td width="22" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1.51</b></font></div></td> </tr> <tr> <td width="396"></td> <td width="22"></td> <td width="80"></td> <td width="22"></td> <td width="80"></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="243"><div>&#160;</div></td> <td width="47"><div>&#160;</div></td> <td width="27"><div>&#160;</div></td> <td width="65"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="92"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="243"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Intangible assets</b></font></div></td> <td width="47"><div>&#160;</div></td> <td colspan="2" width="93"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 22,&#160;2012</b></font></div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td colspan="2" width="124"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Duration&#160;of&#160;time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>charter&#160;acquired</b></font></div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="243" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Above market acquired time charter</font></div></td> <td width="47" bgcolor="#ccecff"><div>&#160;</div></td> <td width="27" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="65" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,250</font></div></td> <td width="16" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="40" bgcolor="#ccecff"><div>&#160;</div></td> <td width="31" bgcolor="#ccecff"><div>&#160;</div></td> <td width="92" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2.6&#160;years</font></div></td> <td width="16" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="205"><div>&#160;</div></td> <td width="14"><div>&#160;</div></td> <td width="37"><div>&#160;</div></td> <td width="88"><div>&#160;</div></td> </tr> <tr> <td width="205"><div>&#160;</div></td> <td width="14"><div>&#160;</div></td> <td colspan="2" width="125"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As&#160;of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 22, 2012</b></font></div></td> </tr> <tr> <td width="205" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vessel</font></div></td> <td width="14" bgcolor="#ccecff"><div>&#160;</div></td> <td width="37" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="88" 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size="2" color="#000000"><b>December&#160;31,</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374"><div>&#160;</div></td> <td width="45"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="85"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Liabilities:</b></font></div></td> <td width="45" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36" bgcolor="#cceeff"><div>&#160;</div></td> <td width="85" bgcolor="#cceeff"><div>&#160;</div></td> <td width="21" bgcolor="#cceeff"><div>&#160;</div></td> <td width="57" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41" bgcolor="#cceeff"><div>&#160;</div></td> <td width="80" bgcolor="#cceeff"><div>&#160;</div></td> <td width="21" bgcolor="#cceeff"><div>&#160;</div></td> </tr> <tr> <td width="374"><div><font style="font-face: Times New Roman" size="2" color="#000000">Manager -&#160;payments on behalf of the Partnership (a)</font></div></td> <td width="45"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="85"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">15,957</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;$</font></div></td> <td width="80"><div align="right"><font style="font-face: Times New Roman" size="2" 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<td width="41" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="80" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,434</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="374"><div>&#160;</div></td> <td width="45"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="85"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Due to related parties</b></font></div></td> <td width="45"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="85"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>17,447</b></font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="2" 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color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Deferred revenue -&#160;current (f)</font></div></td> <td width="45" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="85" bgcolor="#cceeff"><div align="right"><font style="font-face: 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color="#000000">&#160;</font></div></td> <td width="85"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Total liabilities</b></font></div></td> <td width="45"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36"><div><font 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width="36"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="85"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div></div> <div></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>4.</b></font></div></td> <td 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width="36"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="85"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Liabilities:</b></font></div></td> <td width="45" bgcolor="#cceeff"><div><font style="font-face: Times 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style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="85" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,490</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="57" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="80" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">2,434</font></div></td> <td width="21" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="374"><div>&#160;</div></td> <td width="45"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="36"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="85"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="57"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="374"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Due to related 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color="#000000">&#160;&#160;</font></div></td> <td width="41"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="80"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="21"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="415"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="10"><div>&#160;</div></td> <td width="54"><div>&#160;</div></td> <td width="19"><div>&#160;</div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="10" width="298"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>For the year ended</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December&#160;31,</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Consolidated Statements of Comprehensive (Loss) / Income</b></font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2012</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2011</b></font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td colspan="2" width="65"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>2010</b></font></div></td> <td 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Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">31,799</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">$</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11,030</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="2" color="#000000">Voyage expenses</font></div></td> 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bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">30,516</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">30,261</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415"><div><font style="font-face: Times New Roman" size="2" color="#000000">General and administrative expenses (d)</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">3,092</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,630</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">1,103</font></div></td> <td width="19"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="415" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Interest expense and finance cost (e)</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;&#160;</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;&#160;</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="31" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="10" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="54" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">210</font></div></td> <td width="19" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(a) Manager - Payments on Behalf of Capital Product Partners L.P</b></i> <b>.</b> : This line item includes the Manager payments it makes on behalf of the Partnership and its subsidiaries. </font></div> <div><font style="font-face: Times New Roman" size="3" 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width="98"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="123"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="139"><div>&#160;</div></td> <td width="25"><div>&#160;</div></td> <td width="155"><div>&#160;</div></td> </tr> <tr> <td width="144"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Vessel Name</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Charter&#160;(TC)</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>in years</b></font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" 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size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2011</font></div></td> <td width="25" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#cceeff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$12.0 ($11.9)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">0.42&#160;TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> 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size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.5 ($13.3)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" 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color="#000000">$13.5 ($13.3)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Axios</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">02/2010</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$12.8 ($12.6)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Axios</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2013</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2010</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$12.0 ($11.9)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.8 ($13.6)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Arionas</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.8 ($13.6)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">2 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2010</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.0 ($12.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$13.4 ($13.2)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amore Mio II</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">01/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$25.3 ($25.0)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amore Mio II</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">0.9&#160;to&#160;1.2TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$18.25 ($18.0)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Avax</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Avax</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">05/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">04/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Akeraios</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Akeraios</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">07/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">06/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Apostolos</font></div></td> <td width="25"><div>&#160;</div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25"><div>&#160;</div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25"><div>&#160;</div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">08/2013</font></div></td> <td width="25"><div>&#160;</div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$14.0 ($13.8)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Miltiadis M II</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">03/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">09/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div>&#160;</div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$18.3 ($18.0)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexander the Great(1)</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2012</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$28.0 ($27.7)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amoureux</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1+1+1 TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">10/2011</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2013</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$20.0+$24.0+$28.0</font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">($19.8+$23.7+$27.7)</font></div></td> </tr> <tr> <td width="144"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aias</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1+1+1 TC</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2011</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">11/2013</font></div></td> <td width="25"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$20.0+$24.0+$28.0</font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">($19.8+$23.7+$27.7)</font></div></td> </tr> <tr> <td width="144" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">M/T Achilleas (1)</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="98" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">1TC</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="123" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">01/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="139" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">12/2012</font></div></td> <td width="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="155" bgcolor="#ccecff"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000">$28.0 ($27.7)</font></div></td> </tr> </table> <div></div> <ol> <li><font style="font-face: Times New Roman" size="2" color="#000000">On December 22, 2012, the Partnership acquired the shares of the vessel owning companies of the M/V Agamemnon and the M/V Archimidis from CMTC in exchange of the shares of the vessel owning companies of the M/T Achilleas and the M/T Alexander The Great respectively (Note 3).</font></li> </ol><div><font style="font-face: Times New Roman" size="2" color="#000000"></font></div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div> <div><font style="font-face: Times New Roman" size="2" color="#000000"></font><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(d) General and administrative expenses:</b></i> This line item mainly includes internal audit, investor relations and consultancy fees.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000"><i><b>(e) Interest expense and finance cost:</b></i>: Interest expense for the related-party loans for the years ended December&#160;31, 2012, 2011 and 2010 amounted to $0, $0 and $210 respectively and relates to the loans that CMTC had entered into with financial institutions for the financing of the acquisition of the shares of the vessel owning company of the M/T Atrotos and the M/T Alkiviadis when both operated under CMTC's fleet. 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(M/V Agamemnon) </u></b></font></div></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Times New Roman" size="1" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">On December&#160;22, 2012, the Partnership acquired the shares of Agamemnon Container Carrier Corp., the vessel owning company of the M/V Agamemnon, (&#147;Agamemnon&#148;), from CMTC in exchange for the shares of the Partnership's wholly owned subsidiary Achilleas Carriers Corp., the vessel owning company of the M/T Achilleas (&#147;Achilleas&#148;) following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership operated under a three year time charter, with A.P. Moller-Maersk A.S. (&#147;Maersk&#148;). The time charter commenced in June 2012 and the earliest expiry is in July 2015. 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style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="80" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>1.51</b></font></div></td> </tr> <tr> <td width="396"></td> <td width="22"></td> <td width="80"></td> <td width="22"></td> <td width="80"></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b><u>b.</u></b></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b><u>Archimidis Container Carrier Corp. (M/V Archimidis) </u></b></font></div></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Times New Roman" size="1" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">On December&#160;22, 2012, the Partnership acquired the shares of Archimidis Container Carrier Corp., the vessel owning company of the M/V Archimidis, (&#147;Archimidis&#148;), from CMTC in exchange for the shares of the Partnership's wholly owned subsidiary Alexander The Great Carriers Corp., the vessel owning company of the M/T Alexander The Great (&#147;Alexander The Great&#148;) following the unanimous recommendation of the conflicts committee and the unanimous approval of &#160;the board of directors. The vessel at the time of her acquisition by the Partnership operated under a three year time charter, with Maersk. The time charter commenced in November 2012 and the earliest expiry is in October 2015. 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width="65"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td width="31"><div>&#160;</div></td> <td width="92"><div>&#160;</div></td> <td width="16"><div>&#160;</div></td> </tr> <tr> <td width="351"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Intangible assets</b></font></div></td> <td width="40"><div>&#160;</div></td> <td colspan="2" width="93"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>As of</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>December 22,&#160;2012</b></font></div></td> <td width="16"><div>&#160;</div></td> <td width="40"><div>&#160;</div></td> <td colspan="2" width="124"><div align="center"><font style="font-face: Times New Roman" size="2" color="#000000"><b>Duration&#160;of&#160;time</b></font></div><div align="center"><font style="font-face: Times New Roman" size="2" 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color="#000000"><b>1.51</b></font></div></td> </tr> <tr> <td width="396"></td> <td width="25"></td> <td width="88"></td> <td width="25"></td> <td width="177"></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="31"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b><u>c.</u></b></font></div></td> <td width="732"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b><u>Patroklos (M/V Cape Agamemnon)</u></b></font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="2" color="#000000">On June&#160;9, 2011, the Partnership acquired the shares of Patroklos Marine Corp., the vessel owning company of the M/V Cape Agamemnon (&#147;Patroklos&#148;), from CMTC as it was deemed accretive to the Partnership's distributions by the board of directors. 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color="#000000">30,300</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="379"><div><font style="font-face: Times New Roman" size="2" color="#000000">Vessels</font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="99"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">351,750</font></div></td> <td width="8"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> </tr> <tr> <td width="379" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Total liabilities</font></div></td> <td width="6" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="99" bgcolor="#cceeff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">(159,059</font></div></td> <td width="8" bgcolor="#cceeff"><div><font style="font-face: Times New Roman" size="2" color="#000000">)&#160;</font></div></td> </tr> <tr> <td width="379"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>Net assets acquired and liabilities assumed</b></font></div></td> <td width="6"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;&#160;</font></div></td> <td width="15"><div><font style="font-face: Times New Roman" size="2" color="#000000"><b>$</b></font></div></td> <td width="99"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000"><b>222,991</b></font></div></td> <td 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color="#000000">&#149;</font></div></td> <td width="9"><div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div></td> <td width="758"><div><font style="font-face: Times New Roman" size="2" color="#000000">the decline of the Partnership's common unit price as the common units which were issued to Crude's shareholders were valued at $6.39 per unit as quoted on the Nasdaq Stock Exchange on the day of the acquisition of Crude as compared to the Partnership's common unit price of $11.27 used to determine the exchange ratio of the unit for share transaction;</font></div></td> </tr> </table> <div><font style="font-face: Times New Roman" size="1" color="#000000">&#160;</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="9"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#149;</font></div></td> <td width="9"><div><font 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style="font-face: Times New Roman" size="2" color="#000000">M/T Agisilaos (1)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">36,760</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/04/2007</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/16/2006</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Carnation Shipping Company</font></div></td> <td width="22"><div><font style="font-face: Times New 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style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/12/2007</font></div></td> </tr> <tr> <td width="196" height="25"><div><font style="font-face: Times New Roman" size="2" color="#000000">Tempest Maritime Inc.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/12/2003</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aiolos &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T British Emissary)&#160;(1)</font></div></td> <td width="64"><div 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size="2" color="#000000">51,258</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/29/2008</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/29/2008</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Baymont Enterprises Incorporated</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" 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bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">02/03/2004</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aristofanis (3),(8)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">12,000</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/30/2008</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/02/2005</font></div></td> </tr> <tr> <td width="196" height="25"><div><font style="font-face: Times New Roman" size="2" color="#000000">Wind Dancer Shipping Inc.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">02/07/2006</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aristotelis II &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T Overseas Sifnos) (2)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,226</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> </tr> <tr> <td width="196" height="25" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Belerion Maritime Co.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/24/2006</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aris II &#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;(M/T Overseas Kimolos)&#160;(2)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,218</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/20/2008</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/20/2008</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Mango Finance Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">07/14/2006</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Agamemnon II (3), (4)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,238</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/07/2009</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">11/24/2008</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Navarro International S.A.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">07/14/2006</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Ayrton II (3), (5)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">51,238</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/13/2009</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/10/2009</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Adrian Shipholding Inc.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/22/2004</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alkiviadis (3)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">36,721</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/30/2010</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">03/29/2006</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Patroklos Marine Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/17/2008</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/V Cape Agamemnon</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">179,221</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/09/2011</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/25/2011</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Cooper Consultants Co. renamed to Miltiadis M II Carriers 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size="2" color="#000000">Alexander the Great Carriers Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/26/2010</font></div></td> <td width="21" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Alexander The Great (6),(9)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">297,958</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">03/26/2010</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Achilleas Carriers Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">01/26/2010</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Achilleas (6),(9)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" 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color="#000000">&#160;</font></div></td> <td width="141" bgcolor="#ccecff"><div>&#160;</div><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Amoureux (6)</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">150,000</font></div></td> <td width="30" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right">&#160;</div><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Aias Carriers Corp.</font></div></td> <td width="22"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;&#160;</font></div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/14/2010</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/T Aias (6)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">150,000</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">09/30/2011</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">&#151;</font></div></td> </tr> 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width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">12/22/2012</font></div></td> <td width="43" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">&#160;</font></div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/28/2012</font></div></td> </tr> <tr> <td width="196" height="15"><div><font style="font-face: Times New Roman" size="2" color="#000000">Archimidis Container Carrier Corp.</font></div></td> <td width="22"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">04/19/2012</font></div></td> <td width="21"><div>&#160;</div></td> <td width="141"><div><font style="font-face: Times New Roman" size="2" color="#000000">M/V Archimidis (9)</font></div></td> <td width="64"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">103,773</font></div></td> <td width="30"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">12/22/2012</font></div></td> <td width="43"><div>&#160;</div></td> <td width="79"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">06/22/2012</font></div></td> </tr> <tr> <td width="196" height="15" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">Miltiadis M II Corp.</font></div></td> <td width="22" bgcolor="#ccecff"><div>&#160;</div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">08/28/2012</font></div></td> <td width="21" bgcolor="#ccecff"><div>&#160;</div></td> <td width="141" bgcolor="#ccecff"><div><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="64" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="30" bgcolor="#ccecff"><div>&#160;</div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> <td width="43" bgcolor="#ccecff"><div>&#160;</div></td> <td width="79" bgcolor="#ccecff"><div align="right"><font style="font-face: Times New Roman" size="2" color="#000000">-</font></div></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font></div> <table border="0" cellspacing="0" cellpadding="0"> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(1)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Initial Vessels acquired from Capital Maritime&#160;and Trading Corp. (&#147;CMTC&#148;) upon consummation of the Partnership's Initial Public Offering (&#147;IPO&#148;) which was completed on April&#160;3, 2007.</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(2)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Committed Vessels (the Partnership committed to acquire these vessels from CMTC upon consummation of the IPO).</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(3)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Non-Contracted Vessels (vessels acquired from CMTC that were neither initial nor committed vessels).</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(4)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Was acquired on April&#160;4, 2007, on April&#160;7, 2009 was exchanged with the M/T Agamemnon II and was reacquired on August&#160;16, 2010.</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(5)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Was acquired on May&#160;8, 2007, on April&#160;13, 2009 was exchanged with the M/T Ayrton II and was reacquired on March&#160;1, 2010.</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(6)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Were acquired upon the completion of the business acquisition of Crude Carriers Corp. (&#147;Crude&#148;).</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(7)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Was sold on February 14, 2012.</font></div></td> </tr> <tr> <td width="32"><div><font style="font-face: Times New Roman" size="2" color="#000000">(8)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">Was sold on April 4, 2012.</font></div></td> </tr> <tr> <td width="32" height="17"><div><font style="font-face: Times New Roman" size="2" color="#000000">(9)</font></div></td> <td width="744"><div><font style="font-face: Times New Roman" size="2" color="#000000">On December 22, 2012 the M/T Alexander the Great and the M/T Achilleas were exchanged with the M/V Archimidis and the M/V Agamemnon respectively. </font></div><div><font style="font-face: Times New Roman" size="2" color="#000000"></font>&#160;</div><div><font style="font-face: Times New Roman" size="2" color="#000000"></font></div></td> </tr> </table> <div>&#160;</div> <div><font style="font-face: Calibri" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">The Partnership Agreement provides that the Partnership's board of directors has the power to oversee, direct the operations of, manage and determine the strategies and policies of the Partnership. In addition under the Partnership Agreement, CMTC and its affiliates are not permitted to participate in the election of five out of the Partnership board's eight directors. This provision ensures that a majority of the directors on the Partnership's board are elected by the Partnership's limited unitholders that are not CMTC or its affiliates, and since July&#160;22, 2010 a majority of the Partnership's board has been elected by unaffiliated unitholders.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">As a result, the Partnership is not considered to be under common control with CMTC therefore since July&#160;22, 2010 the Partnership no longer accounts for vessel acquisitions from CMTC as transfer of equity interest between entities under common control.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Prior to July&#160;22, 2010, when the Partnership and CMTC were under common control, all the vessel owning companies the Partnership acquired from CMTC were recorded by the Partnership at net book value reflected by CMTC and accounted for as a combination of entities under common control or a transfer of equity interest between entities under common control. For a combination between entities under common control, the purchase cost provisions (as they relate to purchase business combinations involving unrelated entities) explicitly do not apply; instead the method of accounting prescribed by accounting standards for such transfers is similar to pooling-of-interests method of accounting. Under this method, the carrying amount of assets and liabilities recognized in the balance sheets of each combining entity are carried forward to the balance sheet of the combined entity, and no other assets or liabilities are recognized as a result of the combination. Purchase premium or discount representing the difference between the cash consideration paid and the book value of the net assets acquired was recorded as increase or decrease to the Partners' capital.</font></div> <div><font style="font-face: Times New Roman" size="3" color="#000000"></font><font style="font-face: Times New Roman" size="2" color="#000000">Vessels that had an operating history as part of CMTC fleet, prior to their acquisition by the Partnership have been treated as an acquisition of business. As a result, transfers of equity interests between entities under common control were accounted for as if the transfer occurred at the beginning of the period, and prior years were retroactively adjusted to furnish comparative information similar to the pooling-of-interest method.</font></div> 25000000 134580000 24967240 633580000 458365000 0.0325 0.03 0.02 25000000 19000000 242080000 188515000 366500000 250850000 30/09/2011 30/09/2011 2012-08-28 2010-01-21 2009-10-29 2007-01-16 12/22/2012 12/22/2012 09/30/2011 09/30/2011 09/30/2011 09/30/2011 09/30/2011 06/09/2011 06/30/2010 04/13/2009 04/07/2009 08/20/2008 06/17/2008 04/30/2008 03/27/2008 01/29/2008 09/24/2007 09/28/2007 09/20/2007 07/13/2007 03/01/2010 05/08/2007 04/04/2007 04/04/2007 04/04/2007 04/04/2007 04/04/2007 04/04/2007 08/16/2010 04/04/2007 04/04/2007 15555554 69372077 31000 0 1908000 0.54 1.78 -0.46 1625000 $0.2 The Partnership's credit facilities contain customary ship finance covenants, including restrictions as to: changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness, the mortgaging of vessels, the ratio of EBITDA to Net Interest Expenses shall be no less than 2:1, minimum cash requirement of $500 per vessel of which 50% may be constituted by undrawn commitments under the revolving facility, as well as the ratio of net Total Indebtedness to the aggregate Market Value of the total fleet shall not exceed 0.725:1. The credit facilities also contain the collateral maintenance requirement in which the aggregate average fair market value, of the collateral vessels shall be no less than 125% of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2012 and 2011 the Partnership was in compliance with all financial debt covenants. The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective vessel or vessels. Each also requires additional security, including: pledge and charge on current account; corporate guarantee from each of the twenty-five vessel-owning companies, and mortgage interest insurance. The Partnership's credit facilities contain a ''Market Disruption Clause'' where the lenders, at their discretion, may impose additional interest margin if their borrowing rate exceeds effective interest rate (LIBOR) stated in the loan agreement with the Partnership. For the years ended December 31, 2012, 2011 and 2010 the Partnership incurred an additional interest expense in the amount of $373, $1,290 and $1,468 respectively due to the ''Market Disruption Clause''. Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (''VWAP'') and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the ''Partnership Mandatory Conversion Event'') the Partnership (acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full Board of Directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio. The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership's board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to this Agreement in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day. The M/T 'Aias' and 'Amoureux' will be earning for the first 12 months of their time charter with CMTC a gross daily charter rate of $20.0 per day plus 50/50 profit share on actual earnings settled every 6 months. CMTC will have the option to extend the time charter employment for a second year at $24.0 per day and for a third year at $28.0 per day with the same profit share arrangements. For the period from March to December 2013 the rate for this charter will be $17.5. B.P. Shipping Ltd has the right to extend the charter for an additional 3-months option declarable by September 2013. M/V 'Archimidis' and the M/V 'Agamemnon' are employed on time charters with the industry leader A.P. Moller-Maersk A.S. ('Maersk Line') at a gross day rate of US$34.0 per day with earliest redelivery in November 2015 and August 2015, respectively. Maersk Line has the option to extend the charter of both vessels for an additional four years at a gross day rate of US$31.5 and $30.5 per day, respectively for the fourth and fifth year and $32.0 per day for the final two years. 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