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90782000 -4476000 -2038000 -90782000 0 17815000 4546000 0 247000 784000 0 0 35000000 73818000 129262000 17354000 94000 4993000 31000 52600000 51630000 68193000 -126512000 -168317000 -46816000 24952000 19646000 23763000 547000 312000 1383000 0 35000 106000 480000 11000 1141000 43958000 0 15750000 0 0 911000 0 79000 0 39789000 0 0 106678000 18000000 107190000 124678000 48199000 81297000 -33098000 -43381000 17488000 36760 47872 36759 36760 36725 47834 36725 47872 47786 47781 47782 47782 12000 51258 159982 12000 51226 51218 51238 51260 36721 179221 162397 149993 150393 108892 108892 51604 63010 63010 63010 63010 63010 115534 115639 50136 50108 115639 49999 2003-09-16 2004-03-18 2003-08-27 2003-10-10 2003-10-11 2004-10-02 2003-12-09 2004-10-02 2004-11-02 2004-02-03 2004-05-26 2004-07-08 2003-12-29 2006-07-02 2007-05-29 2004-02-03 2006-02-07 2006-01-24 2006-07-14 2006-07-14 2004-06-22 2008-06-17 2006-04-06 2010-04-14 2010-04-14 2012-04-19 2012-04-19 2013-10-16 2011-04-08 2011-04-08 2011-04-08 2011-04-08 2011-07-19 2013-05-16 2013-05-16 2013-05-31 2013-05-31 2013-10-25 2013-05-31 04/04/2007 08/16/2010 04/04/2007 04/04/2007 04/04/2007 04/04/2007 04/04/2007 04/04/2007 04/04/2007 03/01/2010 05/08/2007 07/13/2007 09/20/2007 09/28/2007 09/24/2007 01/29/2008 03/27/2008 04/30/2008 06/17/2008 08/20/2008 04/07/2009 04/13/2009 06/30/2010 06/09/2011 09/30/2011 09/30/2011 09/30/2011 12/22/2012 12/22/2012 11/28/2013 09/11/2013 03/20/2013 03/27/2013 09/11/2013 09/11/2013 06/10/2015 09/18/2015 03/31/2015 06/30/2015 02/26/2016 10/24/2016 04/26/2006 05/17/2006 07/12/2006 08/16/2006 11/02/2006 01/12/2007 03/02/2007 02/28/2007 05/08/2007 07/13/2007 09/20/2007 09/28/2007 01/20/2005 01/29/2008 07/31/2007 06/02/2005 06/17/2008 08/20/2008 11/24/2008 04/10/2009 03/29/2006 01/25/2011 04/26/2006 06/28/2012 06/22/2012 02/19/2013 03/11/2013 03/27/2013 05/31/2013 06/14/2013 06/10/2015 09/18/2015 03/31/2015 06/30/2015 02/26/2016 09/30/2015 3 21 10 1 1 36 113689 50082 2015-07-13 2013-08-28 01/17/2018 05/04/2018 01/10/2017 06/21/2016 2009-10-29 2010-01-21 2007-01-16 09/30/2011 09/30/2011 2018-11-14 2018-11-14 2018-11-14 2018-11-14 2018-11-14 2012-08-28 12725000 360000000 P5Y 2018-11-27 10000000 one for seven reverse unit split 2019-03-27 3 0 $0.2 P25Y 213427000 65827000 17526000 -1400000 8135000 397000 115194000 35000 280654000 -1400000 46747000 432000 864000 -968000 -0.55 -0.05 0 30000 60000 371000 0 31600000 1061000 32661000 15750000 16911000 16911000 245825000 53677000 11101000 850000 41726000 2.42 16000000 30 days 40528 22.47 264000 P1Y 222000 0.17 years 2 years 980000 0.075 1.0 0.9 1.0 2.0 0.9 0.8 to 1.0 2.0 1.0 1.0 0.8 to 1.0 0.8 to 1.0 0.2 01/2017 08/2016 01/2017 02/2016 08/2016 10/2017 06/2015 10/2016 04/2017 09/2017 09/2017 09/2017 05/2018 09/2017 03/2018 03/2018 08/2017 08/2018 08/2017 12/2017 04/2018 01/2018 07/2018 01/2018 $11.0 $21.0 $13.8 $18.0 $25.0 $18.0 $17.0 $13.0 $22.0 $11.0 $11.0 $14.0 $10.9 $20.7 $13.6 $17.8 $24.7 $18.0 $16.8 $12.8 $22.0 $10.9 $10.9 $13.8 16638000 13218000 1104000 1016000 0 2829000 17742000 17063000 14044000 44653000 36026000 0 0 360000 12665000 11629000 10866000 1922000 1983000 2076000 0.4 to 0.7 01/2018 07/2018 $11.0  $10.9 117000 488000 981000 11483000 10100000 8865000 1065000 1041000 1020000 3 5 Effective from January 1, 2017 the Manager agreed to waive going forward (i) the sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of the three vessels and (ii) the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered. 1688000 1688000 1688000 10347000 10124000 0.01 0.0125 1775689000 1738515000 1724308000 1367731000 1265196000 1229782000 407958000 473319000 494526000 967000 75327000 75327000 71358000 71358000 71009000 71009000 78607000 28805000 -28862000 -28862000 9279000 3282000 967000 10927000 10927000 75327000 71009000 10927000 -49802000 -5997000 11150000 31500000 15875000 31004000 496000 52500000 24167000 42955000 9545000 15625000 28333000 29400000 2018-04-25 165000 1368000 967000 2018-10-15 29027000 26.4 15.3 Thirty months, with the option to terminate 30 days earlier 3090000 0 January 2022 Five years, with the option to terminate 45 days earlier 28862000 3282000 July 2020 Tesoro Far East Maritime Company 'Tesoro' Petroleo Brasileiro S.A. 'Petrobras' 90243000 17084000 14287000 10652000 8371000 8371000 9421000 10041000 496000 9545000 0.0325 0.025 4866000 6635000 441024000 454334000 1332000 1543000 -53680000 -52057000 50534000 1313000 53680000 50534000 1313000 54745000 50534000 1313000 55100000 50534000 11483000 65270000 185290000 0 198843000 0 0 18252000 387426000 460000000 15422000 15750000 445890000 475750000 0.0285 1833000 0 1833000 1065000 1833000 1420000 1833000 1420000 1833000 11720000 18252000 0 27417000 15625000 0.025 52275000 13016000 22674000 24782000 25429000 The Partnership’s credit facilities contain customary ship finance covenants, including restrictions as to changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness and the mortgaging of vessels and requirements such as, the ratio of EBITDA to Net Interest Expenses to be no less than 2:1, a minimum cash requirement of $500 per vessel, the ratio of net Total Indebtedness to the Total Assets of the Partnership adjusted for the Market Value of the fleet not to exceed 0.75:1 for the 2017 credit facility and the ratio of net Total Indebtedness to the aggregate Market Value of the fleet not to exceed 0.725:1 for the 2015 and Aristaios credit facilities. The credit facilities also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% for the 2017 credit facility and 120% for the 2015 credit facility, of the aggregate outstanding amount under these facilities. In the case of the Aristaios credit facility the collateral maintenance requirement should not be less than 125% (as long as the vessel is under charter with Tesoro) and 140% (at all other times). Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2018 and 2017 the Partnership was in compliance with all financial covenants. 0.0535 0.0429 15625000 28333000 2015-11-19 2017-01-02 13000 12000 quarterly semi-annual 355000 916000 11010000 17333000 2020-05-31 2018-07-31 LIBOR LIBOR 0.025 0.0285 2023-06-30 2024-01-31 916000 328000 0.725 0.75 1.2 1.25 1.25 1.4 0.725 500000 2:1 2017-09-06 460000000 259000000 201000000 2 2023-10-04 LIBOR 0.0325 24 24 24 quarterly quarterly 4833000 8375000 143008000 2018-01-04 2018-01-04 14000000 102246000 11 460000000 14000000 14383000 5916000 4554000 134758000 8079000 29400000 3282000 0.16 0.18 0.19 0.19 0.19 0.15 0.17 0.15 0.18 0.18 0.17 538000 5701000 5221000 5519000 5199000 4320000 3521000 1200000 1170000 3634000 0 5561000 4440000 4816000 25407000 4726000 2601000 12360000 3593000 892000 2987000 2406000 1971000 46315000 15165000 10280000 49526000 43699000 37342000 5144000 5035000 5772000 16858000 12731000 11688000 9584000 7937000 8203000 41000 138000 205000 5277000 5114000 3632000 99054000 86145000 77503000 12624000 11491000 10661000 348570 348570 31510003 31510003 0.98 0.98 0.85 0.75 0.65 0.02 0.02 0.15 0.25 0.35 1.6275 1.6975 1.6975 1.8725 1.8725 2.0475 2.0475 24655554 9 1 Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (“VWAP”) and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the “Partnership Mandatory Conversion Event”) the Partnership acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full board of directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio. The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership’s board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to the Agreements in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day. 50000000 0.02 890000 176000 1.6975 1.75 0.0171 736008 200212 17815000 4546000 24286 0 24286 53571 0 53571 6573000 0 18186000 0 6573000 18186000 29524 7987000 70357 20951000 5238 1414000 16786 2765000 71429 114286 438000 438000 439000 175000 718000 635000 235714 34286 87143 2018-12-31 2018-12-31 3 3 -71000 135000 285000 -10923000 26725000 40285000 12983333 12983333 12983333 77857 77857 99881 176339000 123347000 63296000 53564000 51216000 60432000 528194000 16118000 8699000 24817000 0.21375 2019-01-22 2019-01-22 2019-02-14 2019-02-08 0.315 2019-02-05 2019-02-01 1 119502000 89298000 146517000 127246692 127246692 2439989 2439989 348570 25 319651000 <div class="Section1"><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">3. Acquisition of Filonikis Product Carrier S.A. (M/T Amor) </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On October</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">24, 2016, following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors, the Partnership acquired the shares of Filonikis, the owning company of the M/T Amor from CMTC for a total consideration of $16,911. The Partnership also assumed, on the acquisition date, CMTC&#8217;s guarantee with respect to the outstanding balance of $15,750 of the loan that Filonikis had entered into and was arranged by CMTC (Note 7). The vessel at the time of her acquisition by the Partnership was fixed on a two-year time charter with Cargill International S.A. (&#8220;Cargill&#8221;) ending October 2017, with the option to terminate 30 days earlier, and immediately thereafter with CMTC for a two-month period time charter. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The Partnership accounted for the acquisition of Filonikis as an acquisition of a business. All assets and liabilities of Filonikis except the vessel, necessary permits, the time charter agreements and the loan, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired and liabilities assumed. </font></p><p style="margin-top:18pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#8226;</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Purchase Price </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The total purchase consideration of $16,911 was funded by $16,000 from the Partnership&#8217;s cash and the issuance of 40,528 new Partnership&#8217;s common units at a price of $22.47 per unit (both adjusted for the March 2019 Reverse Split) as quoted on the Nasdaq Stock Exchange on October</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">24, 2016 the day of the acquisition of Filonikis (Note 12). </font></p><p style="margin-top:18pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#8226;</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Acquisition related costs </font></p><p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">Acquisition related costs of $264 are included in general and administrative expenses in the Partnership&#8217;s consolidated statement of comprehensive (loss) / income for the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2016. </font></p><p style="margin-top:18pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#8226;</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Purchase price allocation </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">The allocation of the purchase price to acquired identifiable assets and liabilities assumed was based on their estimated fair values at the date of acquisition. The fair value allocated to each class of identifiable assets acquired and liabilities assumed of Filonikis was calculated as follows:</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><a name="DM_MAP_1604e971a77f444fb5e292983c103cc9"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></a></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">October</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">24,</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 31,600</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Above market acquired time charters</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,061</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Identifiable assets</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 32,661</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Loan</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (15,750)</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net assets acquired</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">16,911</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Purchase price</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$</font><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">(16,911</font><font style="font-family:'Times New Roman'; font-weight:bold">)</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:9pt; margin-bottom:0pt; font-size:1pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. The fair value of the vessel of $31,600 was quoted by independent ship brokers at the time of her acquisition by the Partnership and the fair value of the loan of $15,750 was determined to be its face value. </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:18pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#8226;</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Identifiable intangible assets </font></p><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">The following table sets forth the component of the identifiable intangible asset acquired on the purchase of Filonikis which is being amortized over its duration on a straight-line basis as a reduction of revenue: </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:278pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><a name="DM_MAP_c335b286b46f48c2ba7c68e96b57aaf4"><font style="font-family:'Times New Roman'; font-weight:bold">Intangible</font></a></p><p style="margin-top:0pt; margin-bottom:1pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">assets</font></p></td><td style="width:56pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">October</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">24,</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td><td style="width:62pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Duration</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">time</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">charters</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">acquired</font></p></td></tr><tr><td style="width:278pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Above market acquired time charter</font></p></td><td style="width:56pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$1,061</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:62pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">year</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as provided by independent ship brokers on the business combination date discounted at a WACC of 7.5%. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Total revenues and net income of Filonikis since its acquisition by the Partnership were $980 and $222 respectively and are included in the Partnership&#8217;s consolidated statement of comprehensive income for the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2016. </font></p><p style="margin-top:18pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#8226;</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Unaudited Pro Forma Financial Information </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following: </font></p><p style="margin-top:12pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-18.35pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;The Partnership&#8217;s actual results of operations for the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2016 and </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-18.35pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;Pro forma results of operations of Filonikis for the period from January</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">1, 2016 to October</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">24, 2016 as if the vessel was operating under post acquisition revenue and cost structure. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisition of Filonikis occurred on September</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">30, 2015 (vessel inception):</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:218.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="vertical-align:top"></td></tr><tr><td style="width:218.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2016</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Total revenues</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$245,825</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Partnership&#8217;s net income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$53,677</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Preferred unit holders&#8217; interest in Partnership&#8217;s net income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$11,101</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">General</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Partner&#8217;s</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">interest</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">in Partnership&#8217;s</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">net</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$850</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Common unit holders interest in Partnership&#8217;s net income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$41,726</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">income</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">per</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">common</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">unit basic and diluted (adjusted for the March 2019 Reverse Split)</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$2.42</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:0pt"><td style="width:225.7pt"></td><td style="width:92.35pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">4. Transactions with Related Parties </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The Partnership and its subsidiaries have related party transactions, including vessels acquisitions, with CMTC which is a related party unit holder. </font><font style="font-family:'Times New Roman'">The Partnership and its subsidiaries have also related party transactions with the Manager arising from certain terms of the following three different types of management agreements.</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">1.</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Fixed fee management agreement:</font><font style="font-family:'Times New Roman'"> At the time of the completion of its Initial Public Offering (&#8220;IPO&#8221;), the Partnership entered into an agreement with its Manager, according to which the Manager provides the Partnership with certain commercial and technical management services for a fixed daily fee per managed vessel which covers the commercial and technical management services, the respective vessels&#8217; operating costs such as crewing, repairs and maintenance, insurance, stores, spares, and lubricants as well as the cost of the first special survey or next scheduled dry-docking, of each vessel. In addition to the fixed daily fees payable under the management agreement, the Manager is entitled to supplementary compensation for additional fees and costs (as defined in the agreement) of any direct and indirect additional expenses it reasonably incurs in providing these services, which may vary from time to time. For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 management fees under the fixed fee management agreement amounted to $117, $488 and $981, respectively. The Partnership also pays a fixed daily fee per bareboat chartered vessel in its fleet, mainly to cover compliance and commercial costs, which include those costs incurred by the Manager to remain in compliance with the oil majors&#8217; requirements, including vetting requirements. Since July 2018 none of the Partnership&#8217;s vessel was operated under fixed fee management agreement; </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">2.</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Floating fee management agreement:</font><font style="font-family:'Times New Roman'"> On June</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">9, 2011, the Partnership entered into an agreement with its Manager based on actual expenses per managed vessel. Under the terms of this agreement, the Partnership compensates its Manager for expenses and liabilities incurred on the Partnership&#8217;s behalf while providing the agreed services, including, but not limited to, crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating costs. Costs and expenses associated with a managed vessel&#8217;s next scheduled dry docking are borne by the Partnership and not by the Manager. The Partnership also pays its Manager a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index. For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 management fees under the floating fee management agreement amounted to $11,483, $10,100 and $8,865, respectively; and </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">3.</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Crude management agreement:</font><font style="font-family:'Times New Roman'"> On September</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">30, 2011, the Partnership completed the acquisition of Crude Carriers Corp. and its subsidiaries (&#8220;Crude&#8221;). Three of the five crude tanker vessels that the Partnership acquired at the time of the completion of the merger with Crude continue to be managed under a management agreement entered into in March 2010 with the Manager, whose initial term expires on December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2020. Under the terms of this agreement the Partnership compensates the Manager for all of its expenses and liabilities incurred on the Partnership&#8217;s behalf while providing the agreed services, including, but not limited to, crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating and administrative costs. For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 management fees under the crude management agreement amounted to $1,065, $1,041 and $1,020, respectively. Prior to January</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">1, 2017 the Partnership paid its Manager the following fees: </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(a) a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index; </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(b) a sale</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">&amp; purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired/disposed by Crude; and </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(c) a commercial services fee equal to 1.25% of all gross charter revenues generated by each vessel for commercial services rendered. </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Effective from January</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">1, 2017 the Manager agreed to waive going forward (i)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the sale</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of the three vessels and (ii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered. For the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2016, such commercial services amounted to $360 and are included in &#8220;Voyage expenses &#8211; related party&#8221; in the accompanying consolidated statement of comprehensive (loss) / income. </font></p><p style="margin-top:6pt; margin-left:49.65pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The Manager has the right to terminate the Crude management agreement and, under certain circumstances, could receive substantial sums in connection with such termination. In March 2018 this termination fee was adjusted to $10,347 from $10,124. </font></p><p style="margin-top:6pt; margin-left:49.65pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">All the above three agreements constitute the &#8220;Management Agreements&#8221; and the related management fees are included in &#8220;Vessel operating expenses &#8211; related party&#8221; in the accompanying consolidated statements of comprehensive (loss) / income. </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On April</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">4, 2007, the Partnership entered into an administrative services agreement with the Manager, pursuant to which the Manager has agreed to provide certain administrative management services to the Partnership such as accounting, auditing, legal, insurance, IT, clerical, and other administrative services. Also the Partnership reimburses the Manager and its general partner, Capital GP L.L.C. (the &#8220;CGP&#8221;) for reasonable costs and expenses incurred in connection with the provision of these services after the Manager submits to the Partnership an invoice for such costs and expenses, together with any supporting detail that may be reasonably required. These expenses are included in general</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">and administrative expenses in the consolidated statements of comprehensive (loss) / income. In January 2016, the Partnership amended the executive services agreement with CGP according to which CGP provides certain executive officers services for the management of the Partnership&#8217;s business as well as investor relation and corporate support services to the Partnership. For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 such fees amounted to $1,688 for each year and are included in &#8220;General and administrative expenses&#8221; in the consolidated statements of comprehensive (loss) / income. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">Balances and transactions with related parties consisted of the following: </font><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:300pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><a name="DM_MAP_04938f88d7de4540badca361450c0b88"><font style="font-family:'Times New Roman'; font-weight:bold">Consolidated</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Balance</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Sheets</font></a></p><p style="margin-top:1pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As of</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2018</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As of</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Liabilities:</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">CSM &#8211; payments on behalf of the Partnership (a)</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160; 16,638</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160; 13,218</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Management fee payable to CSM (b)</font></p></td><td style="width:48pt; 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font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Due to related parties</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 17,742</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; 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font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2,829</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:292.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr style="height:8.45pt"><td style="width:300pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total liabilities</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 17,742</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">17,063</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:292.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:277.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td colspan="3" style="width:161.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">For</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">the</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">year</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p></td></tr><tr><td style="width:285pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Consolidated</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Statements</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Income</font></p><p style="margin-top:1pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Revenues (c)</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160; 14,044</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$44,653</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$36,026</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage expenses</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; &#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">360</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel operating expenses</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,665</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">11,629</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">10,866</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">General and administrative expenses (d)</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,922</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,983</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2,076</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(a) CSM&#8212;Payments on Behalf of the Partnership:</font><font style="font-family:'Times New Roman'"> This line item represents the amount outstanding for payments for operating and voyage expenses made by the Manager on behalf of the Partnership and its subsidiaries. </font></p><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(b) Management fee payable to CSM</font><font style="font-family:'Times New Roman'">: The amount outstanding as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017 represents the management fee payable to CSM as a result of the Management Agreements the Partnership entered into with the Manager.</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(c) Revenues: </font><font style="font-family:'Times New Roman'">The following table includes information regarding the charter agreements that were in place between the Partnership and CMTC and its subsidiaries during 2018 and 2017.</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:233.45pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><a name="DM_MAP_86bc1d8e26784249addc079c74445d7c"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Name</font></a></p><p style="margin-top:1pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Time</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Charter</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(TC)</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">in</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">years</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Commencement</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Charter</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Termination</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">or</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">earliest</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">expected</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">redelivery</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Gross</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(Net)</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Daily</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Hire</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Rate</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Arionas</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">05/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amore Mio II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.9</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$21.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($20.7)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aristotelis</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">03/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$13.8</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($13.6)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Ayrton II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">2.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">02/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">03/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$18.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($17.8)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Miltiadis M II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.9</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$25.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($24.7)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Miltiadis M II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.8</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">10/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$18.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($18.0)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amadeus</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">2.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">06/2015</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$17.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($16.8)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atlantas II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">10/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">12/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$13.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($12.8)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atlantas II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.4 to 0.7</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2018</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">07/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amoureux</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">04/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">04/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$22.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($22.0)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aktoras</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.8 to 1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aiolos</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.8 to 1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">07/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amor</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.2</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$14.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($13.8)</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(d) General and administrative expenses:</font><font style="font-family:'Times New Roman'"> This line item mainly includes fees relating to internal audit, investor relations and consultancy fees. </font></p><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(e) Deferred Revenue:</font><font style="font-family:'Times New Roman'"> As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2017 the Partnership had received cash in advance for charter hire relating to revenue earned in a subsequent period from CMTC. </font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">7. Long-Term Debt </font></p><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Long-term debt consists of the following:</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><a name="DM_MAP_49408a32aaaa46988c87a251dbba7488"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></a></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Bank</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">loans</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Margin</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">(i)</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Issued in September 2017 maturing in October 2023 (the &#8220;2017 credit facility&#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">387,426</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">460,000</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">3.25%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">(ii)</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Assumed in October 2016 maturing in November 2022 (the &#8220;2015 credit facility&#8221;, the &#8220;Amor Tranche&#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15,422</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15,750</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2.50%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">(iii)</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Assumed in January 2018 maturing in January 2024 (the &#8220;Aristaios credit facility &#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">27,417</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2.85%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">(iv)</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Assumed in May 2018 maturing in June 2023 (the &#8220;2015 credit facility &#8221; the &#8220;Anikitos Tranche&#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15,625</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160; 2.50%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total long-term debt</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 445,890</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">475,750</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Less: Deferred loan issuance costs</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">4,866</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">6,635</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Less: loan associated with vessel held for sale</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">14,781</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total long-term debt, net</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 441,024</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">454,334</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Less: Current portion of long-term debt</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">53,680</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">52,057</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Add: Current portion of deferred loan issuance costs</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,332</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,543</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Long-term debt, net</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 388,676</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">403,820</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">Changes in long-term debt that took place during the years ended December 31, 2017 and 2018 are set out below.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On May 4, 2018, upon the completion of the acquisition of the shares of the company owning the M/T Anikitos (Note 5), the Partnership assumed CMTC&#8217;s guarantee with respect to the outstanding balance of $15,625 under the term loan that was entered into on November 19, 2015 with ING Bank N.V. The term loan is required to be repaid in thirteen consecutive equal quarterly installments of $355, beginning in May 2020, plus a balloon payment of $11,010 payable together with the final quarterly installment in June 2023. The term loan bears interest at LIBOR plus a margin of 2.50%.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">On January 17, 2018, upon the completion of the acquisition of the shares of the company owning the M/T Aristaios (Note 5), the Partnership assumed CMTC&#8217;s guarantee with respect to the outstanding balance of $28,333 under the term loan that was entered into on January 2, 2017 with Credit Agricole Corporate and Investment Bank and ING Bank NV. The term loan is required to be repaid in twelve consecutive equal semi-annual installments of $916, beginning in July 2018, plus a balloon payment of $17,333 payable together with the final semi-annual installment due in January 2024. The term loan bears interest at LIBOR plus a margin of 2.85%</font><font style="font-family:'Times New Roman'">.</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On September</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">6, 2017, the Partnership entered into a new senior secured term loan facility for an aggregate principal amount of up to $460,000 with a syndicate of lenders led by HSH Nordbank AG and ING Bank N.V. On October</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">2, 2017, the Partnership fully repaid $14,000 outstanding under one of its then existing credit facilities, through available cash. On October</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">4, 2017, the Partnership repaid indebtedness of $102,246 and the outstanding indebtedness of its then remaining credit facilities, amounting to $460,000, was replaced by the 2017 credit facility. The 2017 credit facility is comprised of two tranches. Tranche A amounted to $259,000, was initially secured by 11 of the Partnership&#8217;s vessels and was required to be repaid in 24 equal quarterly installments of $4,833 in addition to a balloon installment of $143,008, which would be payable together with the final quarterly installment in the fourth quarter of 2023. Tranche B amounted to $201,000, was initially secured by 24 of the Partnership&#8217;s vessels and was required to be repaid fully in 24 equal quarterly installments of $8,375. The Partnership started paying quarterly installments under both tranches A and B on January</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">4, 2018. The loans drawn under the 2017 credit facility bear interest at LIBOR plus a margin of 3.25%. In 2018, upon the prepayment of $14,383 and $5,916 due to the disposal of the M/T Aristotelis and the M/T Amore Mio II respectively (Note 5), the repayment schedule of the 2017 credit facility was amended. The required quarterly installments under the Tranche A was reduced to $4,554 and the balloon installment to $134,758 and the required quarterly installments under the Tranche B to $8,079. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">During 2017, the Partnership classified the M/T Aristotelis as vessel held for sale (Note </font><font style="font-family:'Times New Roman'">5</font><font style="font-family:'Times New Roman'">). As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2017, the portion of the Tranche A 2017 credit facility which was associated with this vessel amounted to $14,781 and was presented as &#8220;Liability associated with vessel held for sale&#8221; in the accompanying consolidated balance sheet. </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">During 2018 the Partnership repaid the amount of $52,275 in line with the amortization schedule of its 2017 credit facility, $916 in line with the amortization schedule of its Aristaios credit facility and $328 in line with the amortization schedule of its 2015 credit facility. </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">During 2017 the Partnership repaid the amount of $13,016, in line with the amortization schedule of its then existing credit facility. </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The Partnership&#8217;s credit facilities contain customary ship finance covenants, including restrictions as to changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness and the mortgaging of vessels and requirements such as, the ratio of EBITDA to Net Interest Expenses to be no less than 2:1, a minimum cash requirement of $500 per vessel, the ratio of net Total Indebtedness to the Total Assets of the Partnership adjusted for the Market Value of the fleet not to exceed 0.75:1 for the 2017&#160; credit facility and the ratio of net Total Indebtedness to the aggregate Market Value of the fleet not to exceed 0.725:1 for the 2015 and Aristaios credit facilities. The credit facilities also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% for the 2017 credit facility and 120% for the 2015 credit facility, of the aggregate outstanding amount under these facilities. In the case of the Aristaios credit facility the collateral maintenance requirement should not be less than 125% (as long as the vessel is under charter with Tesoro) and 140% (at all other times).&#160; 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</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017 the Partnership was in compliance with all financial covenants. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective collateral vessel or vessels. Each also requires additional security, such as pledge and charge on current accounts and mortgage interest insurance. </font></p><p style="margin-top:11.25pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 there were no undrawn amounts under the Partnership&#8217;s credit facilities. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016, the Partnership recorded interest expense of $25,429 , $24,782 and $22,674 respectively which is included in &#8220;Interest expense and finance cost&#8221; in the consolidated statements of comprehensive (loss) / income. For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017 the weighted average interest rate of the Partnership&#8217;s loan facilities was 5.35% and 4.29% respectively. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">The required annual loan payments to be made subsequent to December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 are as follows: </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:506.55pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:123.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(i)</font></p></td><td style="width:6.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2015</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility (Amor Tranche) </font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(ii)</font></p></td><td style="width:5.65pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Aristaios</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(iii)</font></p></td><td style="width:5pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2015</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility (Anikitos Tranche) </font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(iv)</font></p></td><td style="width:8.15pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160; 50,534</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:6.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,313</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160; 1,833</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160; 53,680</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; 50,534</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:6.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,313</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 1,833</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,065</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 54,745</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; 50,534</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:6.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,313</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 1,833</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,420</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 55,100</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; 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border-bottom-style:solid; border-bottom-width:0.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; 18,252</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; 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margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">8. 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font-weight:bold">Significant</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">other</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">observable</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">inputs</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:64.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unobservable</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Inputs</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; 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Accrued Liabilities </font></p><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">Accrued liabilities consist of the following:</font><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:241.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td colspan="2" style="width:154.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; 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padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">2017</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Accrued loan interest and loan fees</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 5,701</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom; 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font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">5,199</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Accrued voyage expenses and commissions</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 4,320</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">3,521</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Accrued general and administrative expenses</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,200</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,170</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Accrued spin-off costs</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 3,634</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-right:6.4pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:241.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; 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padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">10. 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font-weight:bold">For</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">the</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">years</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p></td></tr><tr><td style="width:249.45pt; vertical-align:top"><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font></p></td></tr><tr><td style="width:249.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Voyage expenses:</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:249.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Commissions</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; 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font-size:10pt"> </font><font style="font-family:'Times New Roman'; font-size:10pt">5,27</font><font style="font-family:'Times New Roman'; font-size:10pt">7</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">5,114</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">3,632</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:242.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:249.45pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; 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text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">11. Income Taxes </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Under the laws of the Marshall Islands and Liberia, the country in which the vessel-owning subsidiaries were incorporated, these companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes in the country in which the vessels are registered and managed from, which have been included in vessel operating expenses in the accompanying consolidated statements of comprehensive (loss) / income. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Pursuant to Section</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">883 of the United States Internal Revenue Code (the &#8220;Code&#8221;) and the regulations thereunder, a foreign corporation engaged in the international operation of ships is generally exempt from U.S. federal income tax on its U.S.-source shipping income if the foreign corporation meets both of the following requirements: (a)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the foreign corporation is organized in a foreign country that grants an &#8220;equivalent exemption&#8221; to corporations organized in the United States for the types of shipping income (e.g., voyage, time, bareboat charter) earned by the foreign corporation and (b)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">more than 50% of the voting power and value of the foreign corporation&#8217;s stock is &#8220;primarily and regularly traded on an established securities market&#8221; in the United States and certain other requirements are satisfied (the &#8220;Publicly-Traded Test&#8221;). </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The jurisdictions where the Partnership&#8217;s vessel-owning subsidiaries are incorporated each grants an &#8220;equivalent exemption&#8221; to United States corporations with respect to each type of shipping income earned by the Partnership&#8217;s vessel-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be established securities market. The Partnership has satisfied the Publicly-Traded Test for the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 and the ship-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income. </font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">12. Partners&#8217; Capital </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">General:</font><font style="font-family:'Times New Roman'"> The partnership agreement requires that within 45 days after the end of each quarter, beginning with the quarter ending June</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">30, 2007, all of the Partnership&#8217;s available cash will be distributed to unit holders. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Definition of Available Cash:</font><font style="font-family:'Times New Roman'"> Available Cash, for each fiscal quarter, consists of all cash on hand at the end of the quarter: </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;less the amount of cash reserves established by our board of directors to: </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;provide for the proper conduct of the Partnership&#8217;s business (including reserves for future capital expenditures and for our anticipated credit needs); </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;comply with applicable law, any of the Partnership&#8217;s debt instruments, or other agreements; or </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;provide funds for distributions to the Partnership&#8217;s unit holders and to the general partner for any one or more of the next four quarters; </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;plus all cash on hand on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter. Working capital borrowings are generally borrowings that are made under our credit agreements and in all cases are used solely for working capital purposes or to pay distributions to partners subject to certain exceptions set forth in the limited partnership agreement. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">General Partner Interest and IDRs:</font><font style="font-family:'Times New Roman'"> The general partner has a 1.71% interest in the Partnership and holds the IDRs. In accordance with Section</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">5.2(b) of the partnership agreement, upon the issuance of additional units by the Partnership, the general partner may elect to make a contribution to the Partnership to maintain its general partner interest. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">IDRs represent the right to receive an increasing percentage of quarterly distributions of available cash from operating surplus after the minimum quarterly distribution and the target distribution levels have been achieved. The Partnership&#8217;s general partner as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 holds the IDRs. According to the partnership agreement, as amended in 2014, the following table illustrates the percentage allocations of the additional available cash from operating surplus among the unit holders and general partner up to the various target distribution levels. The amounts set forth under &#8220;Marginal Percentage Interest in Distributions&#8221; are the percentage interests of the unit holders and general partner in any available cash from operating surplus that is being distributed up to and including the corresponding amount in the column &#8220;Total Quarterly Distribution Target Amount per Unit,&#8221; until available cash from operating surplus the Partnership distributes reaches the next target distribution level, if any. The percentage interests shown for the unit holders and general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests shown below (adjusted for the March 2019 Reverse Split) assume that the Partnership&#8217;s general partner maintains a 2% general partner interest and that it has not transferred its incentive distribution rights. </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:169.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><a name="DM_MAP_8c4870913d1342ecb48617e7b9238bbe"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></a></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Quarterly</font></p></td><td colspan="2" style="width:133.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Marginal</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Percentage</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Interest</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">in</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Distributions</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:169.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Distribution</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Target</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">per</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Unit</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unitholders</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">General</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Partner</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Minimum Quarterly Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$1.6275</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">98%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">First Target Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">up</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.6975</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">98%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Second Target Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">above</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.6975</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">up</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.8725</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">85%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Third Target Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">above</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.8725</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">up</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$2.0475</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">75%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">25%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Thereafter</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">above $2.0475</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">65%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">35%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">Following the 2014&#8217;s annual general meeting, CMTC unilaterally notified the Partnership that it has decided to waive its rights to receive quarterly incentive distributions between $1.6975 and $1.75 (adjusted for the March 2019 Reverse Split).</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">This waiver effectively increases the First Target Distribution and the lower band of the Second Target Distribution (as referenced in the table above) from $1.6975 to $1.75 (adjusted for the March 2019 Reverse Split). </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Distributions of Available Cash from Operating Surplus:</font><font style="font-family:'Times New Roman'"> Our partnership agreement requires that we will make distributions of available cash from operating surplus for any quarter after the subordination period in the following manner: </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;first, 98% to all unit holders, pro rata, and 2.0% to our general partner, until we distribute for each outstanding unit an amount equal to the minimum quarterly distribution for that quarter; and </font></p><p style="margin-top:6pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;thereafter, in the manner described in the above table. </font></p><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font></p><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Class</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">B Convertible Preferred Units </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">During 2012 and 2013 the Partnership issued in total 24,655,554 Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units to a group of investors including CMTC according to two separate Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit Subscription Agreements (the &#8220;Agreements&#8221;) that the Partnership had entered with this group of investors in 2012 and 2013. The holders of the Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units have the right to convert all or a portion of such Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units at any time into Common Units at the conversion price of $9 per Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit and a conversion rate of one Common Unit per one Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit. The Conversion Ratio and the Conversion Price shall be adjusted upon the occurrence of certain events described in the limited partnership agreement. Commencing on May</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">23, 2015, in the event the 30-day volume-weighted average trading price (&#8220;VWAP&#8221;) 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 &#8220;Partnership Mandatory Conversion Event&#8221;) 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</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">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</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership&#8217;s board of directors or any duly authorized committee, out of legally available funds for such purpose, (a)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">first, the minimum quarterly Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit Distribution Rate on each Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit and (b)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">second, any cumulative Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to the Agreements in cash.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">The minimum quarterly Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">10,</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">May</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">10,</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">August</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">10 and November</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">10, or, if any such date is not a business day, the next succeeding business day. No distribution on the Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units shall be authorized by the board of directors or declared or paid or set apart for payment by the Partnership at such time as the terms and provisions of any agreement of the Partnership, including any agreement relating to its indebtedness, prohibits such authorization, declaration, payment or setting apart for payment or provides that such authorization, declaration, payment or setting apart for payment would constitute a breach thereof, or a default thereunder, or if such authorization, declaration, payment or setting apart for payment shall be restricted or prohibited by law. The foregoing distributions with respect to the Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units shall accumulate as of the Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit distribution payment date on which they first become payable whether or not any of the foregoing restrictions exist, whether or not there is sufficient Available Cash for the payment thereof and whether or not such distributions are authorized.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">A cumulative Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit arrearage shall not bear interest and holders of the Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units shall not be entitled to any distributions, whether payable in cash, property or Partnership Interests, in excess of the then cumulative Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit arrearage plus the minimum quarterly Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit distribution rate for such quarter. With respect to Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units that are converted into Common Units, the holder thereof shall not be entitled to a Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit distribution and a Common Unit distribution with respect to the same period, but shall be entitled only to the distribution to be paid based upon the class of Units held as of the close of business on the record date for the distribution in respect of such period; provided, however, that the holder of a converted Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit shall remain entitled to receive any accrued but unpaid distributions due with respect to such Unit on or as of the prior Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Unit distribution payment date; and provided, further, that if the Partnership exercises the Partnership Mandatory Conversion Right to convert the Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units pursuant to this Agreements then the holders&#8217; rights with respect to the distribution for the Quarter in which the Partnership Mandatory Conversion Notice is received is as set forth in the limited partnership agreement. </font></p><p style="margin-top:11.25pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Common Units </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In September 2016, the Partnership entered into an equity distribution agreement with UBS Securities LLC (&#8220;UBS&#8221;) under which the Partnership may sell, from time to time, through UBS, as its sales agent, new common units having an aggregate offering amount of up to $50,000 (the &#8220;ATM offering&#8221;). The equity distribution agreement provides that UBS, when it is acting as the Partnership&#8217;s sales agent, will be entitled to compensation of up to 2% of the gross sales price of the common units sold through UBS from time to time. During 2018 the Partnership did not issue any units under the ATM offering. During 2017 the Partnership issued 736,008 new common units under the ATM offering (adjusted for the March 2019 Reverse Split) resulting in net proceeds of $17,815 after the payment of commission to the sales agent, but before offering expenses. For the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2017, the Partnership recognized offering expenses of $176 in connection with the ATM offering. Since the launch of the ATM offering until December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2016, the Partnership issued 200,212 new common units (adjusted for the March 2019 Reverse Split) resulting in net proceeds of $4,546 after the payment of commission to the sales agent, but before offering expenses. For the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2016, the Partnership recognized offering expenses of $890 in connection with the ATM offering. </font></p><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017 our partners&#8217; capital included the following units (adjusted for the March 2019 Reverse Split): </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:148.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><a name="DM_MAP_db779dacf67444dd8e61e08011a47104"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></a></p></td><td colspan="2" style="width:130.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:82.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Common units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">18,178,100&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">18,178,100&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">General partner units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">348,570&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">348,570&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Preferred units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,983,333&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,983,333&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:148.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total partnership units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">31,510,003&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">31,510,003&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:148.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr style="height:0pt"><td style="width:155.95pt"></td><td style="width:113.4pt"></td><td style="width:24.05pt"></td><td style="width:89.35pt"></td></tr></table></div><p style="margin-top:13.5pt; margin-bottom:0pt; font-size:1pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">13. Omnibus Incentive Compensation Plan </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On April</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">29, 2008, the board of directors approved the Partnership&#8217;s Plan according to which the Partnership may issue a limited number of awards, not to exceed 71,429 units (adjusted for the March 2019 Reverse Split). The Plan was amended on July</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 114,286 which was then increased to 235,714 common units on August</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">21, 2014 (both adjusted for the March 2019 Reverse Split), at the annual general meeting of the Partnership&#8217;s unit holders. The Plan was administered by the general partner as authorized by the board of directors. The persons eligible to receive awards under the Plan were officers, directors, and executive, managerial, administrative and professional employees of the Manager, or CMTC, or other eligible persons (collectively, &#8220;key persons&#8221;) as the general partner, in its sole discretion, shall select based upon such factors as it deems relevant.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Members of the board of directors and officers of the general partner were considered to be employees of the Partnership (&#8220;Employees&#8221;) for the purposes of recognition of equity compensation expense, while employees of the Manager, CMTC and other eligible persons under the plan were not considered to be employees of the Partnership (&#8220;Non-Employees&#8221;). 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></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">23, 2015 the Partnership awarded 34,286 and 87,143 unvested units to Employees and Non-Employees (both adjusted for the March 2019 Reverse Split), respectively. Awards granted to certain Employees and Non Employees vested in three annual installments. The awards vested on December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">All unvested units were conditional upon the grantee&#8217;s continued service as Employee and/or Non-Employee until the applicable vesting date. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The unvested units accrued distributions as declared and paid which were retained by the custodian of the Plan until the vesting date at which time they were payable to the grantee. As unvested unit grantees accrued distributions on awards that were expected to vest, such distributions were charged to Partner&#8217;s capital.&#160; </font></p><p style="margin-top:11.25pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">The following table contains details of our plan (adjusted for the March 2019 Reverse Split):</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><a name="DM_MAP_f121356ed4f34cf8bb32af8dc30885b2"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></a></p></td><td colspan="2" style="width:128.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Employee</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">equity</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">compensation</font></p></td><td colspan="2" style="width:134.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Non-Employee</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">equity</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">compensation</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Units</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Units</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Grant-date</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">fair</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">value</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Units</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Award-</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">date</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">fair</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">value</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested on January</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">1, 2017</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">29,524</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">7,987</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">70,357</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">20,951</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Vested</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">5,238</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,414</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">16,786</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2,765</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested on December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">24,286</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">6,573</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">53,571</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">18,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Vested</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">24,286</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$6,573</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">53,571</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$18,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested on December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017, and 2016 the equity compensation expense that has been charged in the consolidated statements of comprehensive (loss) / income was $438, $438 and $439 for the Employee awards and $175, $718 and $635 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income for each respective year. </font></p><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">The Partnership used the straight-line method to recognize the cost of the awards. </font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">14. Net (Loss) / Income Per Unit </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The general partner&#8217;s and common unit holders&#8217; interests in net income are calculated as if all net income for periods subsequent to April</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">4, 2007, were distributed according to the terms of the partnership agreement, regardless of whether those earnings would or could be distributed. The partnership agreement does not provide for the distribution of net income; rather, it provides for the distribution of available cash (Note 12), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves determined by the Partnership&#8217;s board of directors to provide for the proper resources for the Partnership&#8217;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></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The Partnership also considers whether the Partnership Agreement contains any contractual limitations concerning distributions to the IDRs that would impact the amount of earnings to allocate to the IDRs for each reporting period. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Under the partnership agreement, the holder of the IDRs in the Partnership, which is currently CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions (Note 12). The Partnership excluded the effect of the 12,983,333 Class</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">B Convertible Preferred Units in calculating dilutive EPU as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016, for each year as they were anti-dilutive. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">For the year ended December 31, 2018 the Partnership excluded the effect of 77,857 units (adjusted for the March 2019 Reverse Split) under the omnibus incentive compensation plan which vested in December 2018 (Note 13) in calculating dilutive EPU for its common unit holders as they were anti-dilutive. As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2017 and 2016 the Partnership excluded the effect of 77,857 and 99,881(both adjusted for the March 2019 Reverse Split), respectively, non-vested unit awards in calculating dilutive EPU for its common unit holders as they were anti-dilutive. The non-vested units are participating securities because they received distributions from the Partnership and these distributions do not have to be returned to the Partnership if the non-vested units are forfeited by the grantee. </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Excluding the non-cash vessels&#8217; impairment charge, as this was not distributed to the Partnership&#8217;s unit holders for the year ended December 31, 2018, </font><font style="font-family:'Times New Roman'">the Partnership&#8217;s net income for the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP&#8217;s interest in net income</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On March 3, 2019 the board of directors of the Partnership approved a one for seven reverse unit split. Pursuant to the reverse split, every seven common units issued and outstanding as of March 27, 2019, the date of the reverse split, was converted into one common unit. The Partnership&#8217;s common units, immediately after the reverse split became effective, started trading on a split-adjusted basis on the Nasdaq Global Select Market.</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The reverse split reduced the number of common units issued and outstanding from 127,246,692 to 18,178,100 common units and the number of general partner units issued and outstanding from 2,439,989 to 348,570 general partner units.</font><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">The two class method used to calculate EPU is as follows:</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:5.4pt"><td style="width:252pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">BASIC</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">AND DILUTED</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:67.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; text-decoration:underline">Numerators</font></p></td><td style="width:67.2pt; border-top-style:solid; border-top-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership&#8217;s net (loss) / income</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160; (104)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; 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font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Preferred unit holders&#8217; interest in Partnership&#8217;s net income</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; 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vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (211)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">522</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">818</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership&#8217;s net (loss) / income allocable to unvested units</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (71)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">135</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">285</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Common unit holders&#8217; interest in Partnership&#8217;s net (loss) / income</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160;&#160;&#160;&#160; (10,923)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">26,725</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160; 40,285</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Denominators</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Weighted average number of common units outstanding, basic and diluted</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 18,100,455</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">17,692,192</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">17,114,761</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net (loss) / income per common unit:</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Basic and Diluted</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; (0.60)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1.51</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">2.35</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:244.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">15. 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margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:12pt; margin-left:48.95pt; margin-bottom:0pt; text-indent:-24.5pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(a)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Lease Commitments:</font><font style="font-family:'Times New Roman'"> Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancellable long-term time charter contracts, as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 were: </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:306pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><a name="DM_MAP_213ad4a6e046484bac4f5ebfafa8db84"><font style="font-family:'Times New Roman'; font-weight:bold">Year</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$176,339</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; 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vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">53,564</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2023</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,216</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; 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vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">528,194</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:298.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(b) Vessel&#8217;s Equipment Commitments:</font><font style="font-family:'Times New Roman'"> As of December 31, 2018 the Partnership has outstanding commitments for certain of its vessels relating to the construction of exhaust gas cleaning systems&#160; and ballast water treatment systems which are payable as follows:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:411.1pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:340.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:340.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160; 16,118</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:340.2pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 8,699</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:333pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:340.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 24,817</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">16. Subsequent Events </font></p><p style="margin-top:12pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(a)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Dividends:</font><font style="font-family:'Times New Roman'"> On January</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">22</font><font style="font-family:'Times New Roman'">, 2019, the board of directors of the Partnership declared a cash distribution of $</font><font style="font-family:'Times New Roman'">0.315</font><font style="font-family:'Times New Roman'"> per common unit (adjusted for the March 2019 Reverse Split) for the fourth quarter of 2018. 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margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'">In connection with the DSS Transaction, among other things:</font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><ul type="disc" style="margin:0pt; padding-left:0pt"><li style="margin-top:6pt; margin-left:76.55pt; padding-left:8.4pt; font-family:serif; font-size:10pt"><font style="font-family:'Times New Roman'">the Partnership spun off Diamond S, holding all of its 25 crude and product tankers, by way of pro rata distribution of the outstanding shares of common stock of Diamond S to the holders of the Partnership&#8217;s common and general partner units;</font></li><li style="margin-top:6pt; margin-left:76.55pt; padding-left:8.4pt; font-family:serif; font-size:10pt"><font style="font-family:'Times New Roman'">DSS paid to the Partnership, or at its direction, a total amount of $319,651;</font></li><li style="margin-top:6pt; margin-left:76.55pt; padding-left:8.4pt; font-family:serif; font-size:10pt"><font style="font-family:'Times New Roman'">the Partnership redeemed and retired all outstanding Class B Units at 100% of par value, translating into a total redemption price of $119,502;</font></li><li style="margin-top:6pt; margin-left:76.55pt; padding-left:8.4pt; font-family:serif; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership amended and prepaid an amount of $89,298 under the 2017 credit facility and fully repaid all amounts outstanding under the 2015 credit facility and the Aristaios credit facility; the aggregate amounts repaid were $146,517 plus accrued interest and breakage costs; and</font></li><li style="margin-top:6pt; margin-left:76.55pt; padding-left:8.4pt; font-family:serif; font-size:10pt"><font style="font-family:'Times New Roman'">the Partnership effected a reverse split of its common and general partner units, reducing the number of common units issued and outstanding from 127,246,692 to 18,178,100 common units and the number of general partner units issued and outstanding from 2,439,989 to 348,570 general partner units. </font></li></ul></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">October</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">24,</font><font style="font-family:'Times New Roman'; 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padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,061</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Identifiable assets</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 32,661</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Loan</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (15,750)</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr><tr><td style="width:227.55pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net assets acquired</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$</font><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-weight:bold">(16,911</font><font style="font-family:'Times New Roman'; font-weight:bold">)</font></p></td></tr><tr><td style="width:220.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:132.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:16.35pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:12pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:218.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="vertical-align:top"></td></tr><tr><td style="width:218.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2016</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Total revenues</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$245,825</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Partnership&#8217;s net income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$53,677</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Preferred unit holders&#8217; interest in Partnership&#8217;s net income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$11,101</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">General</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Partner&#8217;s</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">interest</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">in Partnership&#8217;s</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">net</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$850</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Common unit holders interest in Partnership&#8217;s net income</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$41,726</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:225.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">income</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">per</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">common</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">unit basic and diluted (adjusted for the March 2019 Reverse Split)</font></p></td><td style="width:85.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$2.42</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr style="height:0pt"><td style="width:225.7pt"></td><td style="width:92.35pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:300pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Consolidated</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Balance</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Sheets</font></p><p style="margin-top:1pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As of</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2018</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As of</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Liabilities:</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">CSM &#8211; payments on behalf of the Partnership (a)</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160; 16,638</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160; 13,218</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Management fee payable to CSM (b)</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,104</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,016</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:292.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Due to related parties</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 17,742</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">14,234</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:300pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Deferred revenue &#8211; current (e)</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2,829</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:292.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr style="height:8.45pt"><td style="width:300pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total liabilities</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 17,742</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">17,063</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:292.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:277.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td colspan="3" style="width:161.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">For</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">the</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">year</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p></td></tr><tr><td style="width:285pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Consolidated</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Statements</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Income</font></p><p style="margin-top:1pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Revenues (c)</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160; 14,044</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$44,653</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$36,026</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage expenses</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; &#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">360</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel operating expenses</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,665</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">11,629</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">10,866</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:285pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">General and administrative expenses (d)</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,922</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,983</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2,076</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:233.45pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Name</font></p><p style="margin-top:1pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Time</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Charter</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(TC)</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">in</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">years</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Commencement</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Charter</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Termination</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">or</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">earliest</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">expected</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">redelivery</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Gross</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(Net)</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Daily</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Hire</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Rate</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Arionas</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">05/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amore Mio II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.9</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$21.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($20.7)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aristotelis</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">03/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$13.8</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($13.6)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Ayrton II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">2.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">02/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">03/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$18.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($17.8)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Miltiadis M II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.9</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$25.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($24.7)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Miltiadis M II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.8</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">10/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$18.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($18.0)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amadeus</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">2.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">06/2015</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">08/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$17.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($16.8)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atlantas II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">10/2016</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">12/2017</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$13.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($12.8)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atlantas II</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.4 to 0.7</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2018</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">07/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amoureux</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">04/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">04/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$22.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($22.0)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aktoras</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.8 to 1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">01/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aiolos</font></p></td><td style="width:48pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">0.8 to 1.0</font></p></td><td style="width:66.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">09/2017</font></p></td><td style="width:59pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">07/2018</font></p></td><td style="width:61.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$11.0</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">($10.9)</font></p></td></tr><tr><td style="width:233.45pt; vertical-align:top; 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margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Classification as asset held for sale</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160; (28,862)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160; &#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160; (28,862)</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1,738,515</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$</font><font style="font-family:'Times New Roman'"> </font><font style="font-family:'Times New Roman'; font-weight:bold">(473,319</font><font style="font-family:'Times New Roman'; font-weight:bold">)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1,265,196</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Acquisitions and improvements</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160; 75,327</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt"> 75,327</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Depreciation for the period</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(71,009)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'"> (71,009)</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Impairment of vessel</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(78,607)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">49,802</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'"> (28,805)</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Disposals</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160; (10,927)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'"> (10,927)</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$ 1,724,308</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160; (494,526)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 1,229,782</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">5. Vessels, net and assets held for sale </font></p><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">An analysis of vessels is as follows:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><a name="DM_MAP_5153dfd22dc14d2fb987910f51943b24"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></a></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Cost</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Accumulated</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">depreciation</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">book</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">value</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance as at January</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">1, 2017</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1,775,689</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$ (407,958</font><font style="font-family:'Times New Roman'; 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vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Acquisitions and improvements</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">967</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; 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vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(71,358)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(71,358)</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Impairment of vessel</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(9,279)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">5,997</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(3,282)</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Classification as asset held for sale</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160; (28,862)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160; &#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160; (28,862)</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1,738,515</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$</font><font style="font-family:'Times New Roman'"> </font><font style="font-family:'Times New Roman'; font-weight:bold">(473,319</font><font style="font-family:'Times New Roman'; font-weight:bold">)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1,265,196</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Acquisitions and improvements</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160; 75,327</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt"> 75,327</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Depreciation for the period</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(71,009)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'"> (71,009)</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Impairment of vessel</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(78,607)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">49,802</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'"> (28,805)</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Disposals</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160; (10,927)</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'"> (10,927)</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:254.05pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balance as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$ 1,724,308</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160; (494,526)</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 1,229,782</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:246.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">All of the Partnership&#8217;s vessels as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 have been provided as collateral to secure the Partnership&#8217;s credit facilities. </font></p><p style="margin-top:4pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On September 11, 2018 the Partnership entered into a Memorandum of Agreement (&#8220;MOA&#8221;) with an unrelated party for the disposal of the M/T Amore Mio II at a price of $11,150. Upon entering into the agreement the Partnership considered that the M/T Amore Mio II met the criteria to be classified as held for sale as described in note 2(i) and measured the vessel at the lower of its carrying amount and fair value less the cost associated with the sale. In this respect, the Partnership recognized an impairment charge of $28,805 in the </font><font style="font-family:'Times New Roman'">consolidated statement of comprehensive (loss) / income for the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, reducing the vessel&#8217;s carrying value to $10,927. The vessel was delivered to its buyer on October 15, 2018.</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On May 4, 2018, pursuant to the agreement the Partnership had entered into in January 2018 and the Share Purchase Agreement (&#8220;SPA&#8221;) entered into with CMTC on May 4, 2018, the Partnership acquired the shares of the company owning the M/T Anikitos for a total consideration of $31,500, comprising of $15,875 in cash and the assumption of the then outstanding balance of $15,625 (the &#8220;Anikitos Tranche&#8221;) of a credit facility (&#8220;2015 credit facility&#8221;) previously arranged by CMTC with ING Bank NV (Note 7). The Partnership also assumed CMTC&#8217;s guarantee with respect to this loan. The vessel at the time of its acquisition was operated under a thirty month time charter with Petroleo Brasileiro S.A. (&#8220;Petrobras&#8221;) ending in July 2020, with the option to terminate 30 days earlier, at a gross daily rate of $15.3. The Partnership accounted for this acquisition as acquisition of an asset as the fair values of the vessel and the time charter attached, are concentrated in a single identifiable asset. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the contracted daily charter rate was above the market rates on the acquisition date and therefore the total consideration was allocated to the vessel cost and the above market acquired charter. The Partnership allocated the cost of the vessel and the time charter acquired on the basis of their relative fair values. Thus the vessel was recorded in the Partnership&#8217;s financial statements at a value of $31,004 and the above market acquired charter at a value of $496 (Note 6).</font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On January 17, 2018, the Partnership entered into an SPA with CMTC for the purchase of the shares of the company owning the M/T Aristaios for a total consideration of $52,500 comprising of $24,167 in cash and the assumption of the then outstanding balance of $28,333 of Advance A of a credit facility (the &#8220;Aristaios credit facility&#8221;) previously arranged by CMTC with Credit Agricole Corporate and Investment Bank and ING Bank NV (Note 7). The Partnership also assumed CMTC&#8217;s guarantee with respect to this loan. The vessel at the time of its acquisition was operated under a five year time charter with Tesoro Far East Maritime Company (&#8220;Tesoro&#8221;) ending in January 2022, with the option to terminate 45 days earlier, at a gross daily rate of $26.4. The Partnership accounted for this acquisition as acquisition of an asset as the fair values of the vessel and the time charter attached, are concentrated in a single identifiable asset. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the contracted daily charter rate was above the market rates on the acquisition date and therefore the total consideration was allocated to the vessel cost and the above market acquired charter. The Partnership allocated the cost of the vessel and the time charter acquired on the basis of their relative fair values. Thus the vessel was recorded in the Partnership&#8217;s financial statements at a value of $42,955 and the above market acquired charter at a value of $9,545 (Note 6).</font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">22, 2017 the Partnership entered into an MOA with an unrelated party for the disposal of the M/T Aristotelis at a price of $29,400. Upon entering into the agreement the Partnership considered that M/T Aristotelis met the criteria to be classified as held for sale and measured the vessel at the lower of its carrying amount and fair value less the cost associated with the sale. </font><font style="font-family:'Times New Roman'">In this respect, the Partnership recognized an impairment charge of $3,282 in the </font><font style="font-family:'Times New Roman'">consolidated statement of comprehensive (loss) / income for the year ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2017, reducing the vessel&#8217;s carrying value to $28,862. As of January 1, 2018 the amount of $29,027 represented the vessel&#8217;s fair value less cost to sell of $28,862 and inventories of $165. Under this agreement, as amended, the vessel was delivered to its Buyer on April 25, 2018. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">During 2018 and 2017, certain of the Partnership&#8217;s vessels underwent improvements. The costs of these improvements amounted to $1,368 and $967 respectively and were capitalized as part of the vessels&#8217; cost.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">During 2018 and 2017 the Partnership paid advances relating to the construction of exhaust gas cleaning systems and ballast water treatment systems that will be installed to certain of its vessels of $3,090 and $0 respectively.</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Bank</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">loans</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Margin</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">(i)</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Issued in September 2017 maturing in October 2023 (the &#8220;2017 credit facility&#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">387,426</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">460,000</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">3.25%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">(ii)</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Assumed in October 2016 maturing in November 2022 (the &#8220;2015 credit facility&#8221;, the &#8220;Amor Tranche&#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15,422</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15,750</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2.50%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">(iii)</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Assumed in January 2018 maturing in January 2024 (the &#8220;Aristaios credit facility &#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">27,417</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2.85%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:20.25pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">(iv)</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Assumed in May 2018 maturing in June 2023 (the &#8220;2015 credit facility &#8221; the &#8220;Anikitos Tranche&#8221;)</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15,625</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:49pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160; 2.50%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total long-term debt</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 445,890</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">475,750</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Less: Deferred loan issuance costs</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">4,866</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">6,635</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Less: loan associated with vessel held for sale</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">14,781</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total long-term debt, net</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 441,024</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">454,334</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Less: Current portion of long-term debt</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">53,680</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">52,057</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Add: Current portion of deferred loan issuance costs</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,332</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,543</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:316.35pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Long-term debt, net</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 388,676</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">403,820</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:13.05pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:309.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:70pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:41.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:506.55pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:123.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(i)</font></p></td><td style="width:6.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2015</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility (Amor Tranche) </font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">(ii)</font></p></td><td style="width:5.65pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Aristaios</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Credit</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Facility</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; 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font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,313</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160; 1,833</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160; 53,680</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; 50,534</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:6.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,313</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 1,833</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,065</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 54,745</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; 50,534</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:6.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,313</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; 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padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 55,100</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:53.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; 50,534</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:6.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.65pt; 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vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 1,420</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 65,270</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2023</font></p></td><td style="width:53.25pt; 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margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:61.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 1,833</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 11,720</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; 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border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; 18,252</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:5pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; 18,252</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:131.1pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:53.25pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-left:7.2pt; vertical-align:bottom; 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margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:71.75pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160; 15,625</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:8.15pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; 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font-weight:bold">for identical</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">assets</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:53.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Significant</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">other</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">observable</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">inputs</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:64.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unobservable</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Inputs</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:44.65pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:228.55pt; vertical-align:top"><p style="margin-top:0pt; 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font-size:10pt; font-weight:bold">2</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:64.95pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Level</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">3</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:44.65pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">Loss</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:228.55pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; 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line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:249.45pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Vessel operating expenses:</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60.85pt; 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margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Other operating expenses</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt"> </font><font style="font-family:'Times New Roman'; font-size:10pt">5,27</font><font style="font-family:'Times New Roman'; font-size:10pt">7</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">5,114</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">3,632</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:242.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:249.45pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">99,054</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">86,145</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">77,503</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:242.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60.85pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:169.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Quarterly</font></p></td><td colspan="2" style="width:133.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Marginal</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Percentage</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Interest</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">in</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Distributions</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:169.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Distribution</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Target</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">per</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Unit</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unitholders</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">General</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Partner</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Minimum Quarterly Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">$1.6275</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">98%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">First Target Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">up</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.6975</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">98%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Second Target Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">above</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.6975</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">up</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.8725</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">85%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">15%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Third Target Distribution</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">above</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$1.8725</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">up</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">$2.0475</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">75%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">25%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:176.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Thereafter</font></p></td><td style="width:128.9pt; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">above $2.0475</font></p></td><td style="width:69.6pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">65%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:56.55pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">35%</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:148.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td colspan="2" style="width:130.25pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:82.15pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">2017</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Common units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">18,178,100&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">18,178,100&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">General partner units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">348,570&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">348,570&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Preferred units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,983,333&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,983,333&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:148.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:155.95pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total partnership units</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">31,510,003&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">31,510,003&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:148.75pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td colspan="2" style="width:106.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr style="height:0pt"><td style="width:155.95pt"></td><td style="width:113.4pt"></td><td style="width:24.05pt"></td><td style="width:89.35pt"></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td colspan="2" style="width:128.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Employee</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">equity</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">compensation</font></p></td><td colspan="2" style="width:134.2pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Non-Employee</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">equity</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">compensation</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Units</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Units</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Grant-date</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">fair</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">value</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Units</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Award-</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">date</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">fair</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">value</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested on January</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">1, 2017</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">29,524</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">7,987</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">70,357</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">20,951</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Vested</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">5,238</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1,414</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">16,786</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">2,765</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested on December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">24,286</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">6,573</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">53,571</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">18,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Vested</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">24,286</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$6,573</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">53,571</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$18,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:220pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Unvested on December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">-</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; -</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:212.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:72pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:58pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr style="height:5.4pt"><td style="width:252pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">BASIC</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">AND DILUTED</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:67.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2018</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2017</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">2016</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; text-decoration:underline">Numerators</font></p></td><td style="width:67.2pt; border-top-style:solid; border-top-width:0.75pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership&#8217;s net (loss) / income</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160;&#160;&#160;&#160;&#160;&#160;&#160; 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vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Less:</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Preferred unit holders&#8217; interest in Partnership&#8217;s net income</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160; 11,101</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">11,101</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">11,101</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">General Partner&#8217;s interest in Partnership&#8217;s net (loss) / income</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; (211)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">522</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">818</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; 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font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">285</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:bottom"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Common unit holders&#8217; interest in Partnership&#8217;s net (loss) / income</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160;&#160;&#160;&#160; (10,923)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">26,725</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160; 40,285</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Denominators</font></p></td><td style="width:67.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Weighted average number of common units outstanding, basic and diluted</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; 18,100,455</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">17,692,192</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">17,114,761</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:252pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; 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vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; (0.60)</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">1.51</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160; </font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">2.35</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:244.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:67.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:60pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:18pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:306pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$176,339</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">123,347</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">63,296</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">53,564</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2023</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,216</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Thereafter</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">60,432</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:298.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:306pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">528,194</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:298.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:54pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">1. Basis of Presentation and General Information </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Capital Product Partners, L.P. was formed on January</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">16, 2007, under the laws of the Marshall Islands. Capital Product Partners, L.P. and its fully owned subsidiaries (collectively the &#8220;Partnership&#8221;) is an international shipping company. As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, its fleet of thirty- six high specification vessels consisted of three suezmax crude oil tankers, twenty-one modern medium range tankers, all of which are classed as IMO II/III chemical/product carriers, one </font><font style="font-family:'Times New Roman'">aframax crude-oil tanker</font><font style="font-family:'Times New Roman'">, (the &#8220;Crude and Product tanker business&#8221;), ten post-panamax container carrier vessels and one capesize bulk carrier. Its vessels are capable of carrying a wide range of cargoes, including crude oil, refined oil products (such as gasoline, diesel, fuel oil and jet fuel), edible oils and certain chemicals, such as ethanol, as well as dry cargo and containerized goods under short-term voyage charters and medium to long-term time and bareboat charters. </font></p><p style="margin-top:6pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-style:italic">The DSS Transaction</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On November 27, 2018, the Partnership entered into a definitive transaction agreement (the &#8220;Transaction Agreement&#8221;) with DSS Holdings L.P. (&#8220;DSS&#8221;), a privately held third party company, pursuant to which the Partnership agreed to spin off its Crude and Product tanker business into a separate publicly listed company which would combine with DSS&#8217;s businesses and operations in a share-to-share transaction (the &#8220;DSS Transaction&#8221;). </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Pursuant to the Transaction Agreement:</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(a) the Partnership agreed to establish a number of entities for the implementation of the DSS Transaction, including Athena SpinCo Inc. (&#8220;Athena&#8221;);</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(b) the Partnership agreed to contribute to Athena the Crude and Product tanker business, associated inventories, $10,000 in cash plus prorated charter hire and net payments received from the lockbox date (determined in accordance with the terms of the Transaction Agreement) with specific arrangements relating to the funding of working capital (the &#8220;separation&#8221;);</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(c) the Partnership agreed to distribute all 12,725,000 shares of common stock of Athena (renamed Diamond S Shipping Inc. or &#8220;Diamond S&#8221;) that it owned by way of a pro rata distribution to holders of the Partnership&#8217;s common and general partner units (the &#8220;distribution&#8221;);</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(d) immediately following the distribution, there would be a series of mergers as a result of which Diamond S would acquire the business and operations of DSS (the &#8220;combination&#8221;).&#160; In the combination, Diamond S would issue additional shares of Diamond S common stock to DSS in such amount as to reflect the relative net asset values of the respective businesses and the agreed implied premium on the net asset value of the Crude and Product tanker business; and</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(e) DSS entered into several firm commitments for a syndicated five-year term loan and revolving credit facility of up to $360,000 with a syndicate of global shipping banks, and agreed to turn over net proceeds in such amount as to partially prepay a portion of the loans outstanding under the Partnership&#8217;s existing credit facilities, redeem the Partnership&#8217;s Class B Units and fund transaction expenses. </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The DSS Transaction was completed on March 27, 2019.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Effective March 27, 2019, the Partnership effected a one for seven reverse unit split of its issued and outstanding common and general partner units (the &#8220;March 2019 Reverse Split&#8221;) (Note 14).</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'"> All units and per units amounts disclosed in the accompanying financial statements give effect to this reverse stock split retroactively, for all periods presented.</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The consolidated financial statements include Capital Product Partners, L.P. and the following wholly owned subsidiaries which were all incorporated or formed under the laws of the Marshall Islands and Liberia.</font></p><p style="margin-top:12pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:93.2%; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:26.76%; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Subsidiary</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-right:7.1pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Date of</font></p><p style="margin-top:0pt; margin-right:7.1pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Incorporation</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Name</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Vessel</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Owned</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">by</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Subsidiary</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Deadweight</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#8220;DWT&#8221;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Date</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">acquired</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">by the</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Partnership</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Date</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">acquired</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">by Capital</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Maritime</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">&amp;</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Trading</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">Corp.</font><br /><font style="font-family:'Times New Roman'; font-weight:bold">(&#8220;CMTC&#8221;)</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Capital Product Operating LLC</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">01/16/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; 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font-size:10pt">08/27/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aktoras</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,759</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">07/12/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Polarwind Maritime S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">10/10/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Agisilaos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,760</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">08/16/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Carnation Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">11/10/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Arionas</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,725</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">11/02/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Apollonas Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/10/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Avax</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,834</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/12/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Tempest Maritime Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/12/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aiolos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,725</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">03/02/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Iraklitos Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/10/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Axios</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,872</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">02/28/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Epicurus Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/11/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atrotos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,786</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">03/01/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">05/08/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">05/08/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Laredo Maritime Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/03/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Akeraios</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,781</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/13/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">07/13/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Lorenzo Shipmanagement Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">05/26/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Apostolos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,782</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/20/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">09/20/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Splendor Shipholding S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/08/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Anemos I</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,782</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/28/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">09/28/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Ross Shipmanagement Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12/29/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Attikos (1)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,000</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/24/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/20/2005</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Sorrel Shipmanagement Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/07/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Alexandros II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,258</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">01/29/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/29/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Baymont Enterprises Incorporated</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">05/29/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amore Mio II (2)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">159,982</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">03/27/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">07/31/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Forbes Maritime Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/03/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aristofanis (1)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,000</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/30/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">06/02/2005</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Wind Dancer Shipping Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/07/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aristotelis II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,226</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/17/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">06/17/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Belerion Maritime Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">01/24/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aris II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,218</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">08/20/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">08/20/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Mango Finance Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/14/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Agamemnon</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">II (1)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,238</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/07/2009</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">11/24/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Navarro International S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/14/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Ayrton II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,260</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/13/2009</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">04/10/2009</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Adrian Shipholding Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/22/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Alkiviadis</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,721</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/30/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">03/29/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Patroklos Marine Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/17/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/V Cape Agamemnon</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">179,221</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/09/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/25/2011</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/06/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Miltiadis M II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">162,397</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/30/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">04/26/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Amoureux Carriers Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-indent:0.6pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/14/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Amoureux</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">149,993</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/30/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Aias Carriers Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-indent:0.15pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/14/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aias</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">150,393</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/30/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Agamemnon Container Carrier Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-indent:0.15pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/19/2012</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/V</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Agamemnon</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">108,892</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12/22/2012</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/28/2012</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Archimidis Container Carrier Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-indent:0.15pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/19/2012</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/V</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Archimidis</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">108,892</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12/22/2012</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/22/2012</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Aenaos Product Carrier S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-indent:0.15pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">10/16/2013</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; 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padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td colspan="4" style="vertical-align:top"><ol type="1" style="margin:0pt; padding-left:0pt"><li style="margin-left:20.18pt; padding-left:8.17pt; font-family:'Times New Roman'; font-size:10pt"><font>Vessels were disposed in the previous years.</font></li><li style="margin-left:20.18pt; padding-left:8.17pt; font-family:'Times New Roman'; font-size:10pt"><font>Vessels were disposed in 2018 (Note 5)</font><font>.</font></li><li style="margin-left:20.18pt; padding-left:8.17pt; font-family:'Times New Roman'; font-size:10pt"><font>Companies established for the purpose of the agreement between the Partnership and DSS.</font></li></ol><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:28.35pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="2" style="padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:93.2%; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:26.76%; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:1pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Subsidiary</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-right:7.1pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Date of</font></p><p style="margin-top:0pt; margin-right:7.1pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Incorporation</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Name</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Vessel</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Owned</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">by</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Subsidiary</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Deadweight</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#8220;DWT&#8221;</font></p></td><td style="width:11.02%; 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font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/30/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Shipping Rider Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/16/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atlantas II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,760</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">04/26/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Canvey Shipmanagement Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">03/18/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Assos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,872</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">08/16/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">05/17/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Centurion Navigation Limited</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">08/27/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aktoras</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,759</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">07/12/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Polarwind Maritime S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">10/10/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Agisilaos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,760</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">08/16/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Carnation Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">11/10/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Arionas</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,725</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">11/02/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Apollonas Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/10/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Avax</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,834</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/12/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Tempest Maritime Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/12/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aiolos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,725</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">03/02/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Iraklitos Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/10/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Axios</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,872</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/04/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">02/28/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Epicurus Shipping Company</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/11/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Atrotos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,786</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">03/01/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">05/08/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">05/08/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Laredo Maritime Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/03/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Akeraios</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,781</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/13/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">07/13/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Lorenzo Shipmanagement Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">05/26/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Apostolos</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,782</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/20/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">09/20/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Splendor Shipholding S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/08/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Anemos I</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">47,782</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/28/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">09/28/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Ross Shipmanagement Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12/29/2003</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Attikos (1)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,000</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/24/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/20/2005</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Sorrel Shipmanagement Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/07/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Alexandros II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,258</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">01/29/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/29/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Baymont Enterprises Incorporated</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">05/29/2007</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Amore Mio II (2)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">159,982</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">03/27/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">07/31/2007</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Forbes Maritime Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/03/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aristofanis (1)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">12,000</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/30/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">06/02/2005</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Wind Dancer Shipping Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">02/07/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aristotelis II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,226</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/17/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">06/17/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Belerion Maritime Co.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">01/24/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Aris II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,218</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">08/20/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">08/20/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Mango Finance Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/14/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Agamemnon</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">II (1)</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,238</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/07/2009</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">11/24/2008</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Navarro International S.A.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">07/14/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Ayrton II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">51,260</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/13/2009</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">04/10/2009</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Adrian Shipholding Inc.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/22/2004</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Alkiviadis</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">36,721</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/30/2010</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">03/29/2006</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Patroklos Marine Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/17/2008</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/V Cape Agamemnon</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">179,221</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">06/09/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">01/25/2011</font></p></td></tr><tr><td style="width:26.76%; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.</font></p></td><td style="width:16.94%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-right:7.25pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">04/06/2006</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:25.12%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">M/T Miltiadis M II</font></p></td><td style="width:8.64%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">162,397</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">09/30/2011</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; 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padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.02%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:11.5%; padding-left:7.2pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#8212;</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td colspan="4" style="vertical-align:top"><ol type="1" style="margin:0pt; padding-left:0pt"><li style="margin-left:20.18pt; padding-left:8.17pt; font-family:'Times New Roman'; 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margin-bottom:1pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">1</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">year</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:241.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td colspan="2" style="width:154.5pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">of</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:77.4pt; padding-left:7.2pt; 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padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:248.7pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:77.4pt; 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font-size:1pt">&#xa0;</font></p></td><td style="width:77.4pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:69.9pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:11.25pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:302.65pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Above</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">market</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">acquired</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">charters</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Book</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Value</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount as at January</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">1, 2017</font></p></td><td style="width:57.35pt; 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margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">75,035</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Acquisitions</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160; 10,041</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Amortization</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$&#160;&#160; (16,890)</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">68,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:311pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">For</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">the</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">year ending </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$17,084</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$14,287</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$10,652</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$8,371</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2023</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$8,371</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Thereafter</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$9,421</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:303.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 68,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:303.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="width:411.1pt; margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:340.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Year</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">ended</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:340.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160;&#160;&#160; 16,118</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:340.2pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#160;&#160;&#160;&#160;&#160;&#160;&#160; 8,699</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:333pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:340.2pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:63.7pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160;&#160;&#160;&#160; 24,817</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr></table></div><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:4pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">6. 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The fair value of the time charter representing the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as determined by reference to market data on the acquisition date and was recorded as an asset in the consolidated balance sheet as of the acquisition date under &#8220;above market acquired charters&#8221; (Note 5).&#160;&#160;&#160; </font></p><p style="margin-top:12pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">On January 17, 2018 the Partnership acquired the shares of the company owning the M/T Aristaios from CMTC including a time charter attached to the vessel with a time charter daily rate exceeding the market rate for equivalent time charters prevailing at the time of acquisition. The value allocated to the above market acquired time charter of $9,545 was determined on the basis of the relative fair values of the assets in the asset group acquired. The fair value of the time charter representing the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as determined by reference to market data on the acquisition date and was recorded as an asset in the consolidated balance sheet as of the acquisition date under &#8220;above market acquired charters&#8221; (Note 5).&#160;&#160;&#160; </font></p><p style="margin-top:6pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">For the years ended December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018, 2017 and 2016 revenues were reduced by $16,890, $15,208 and $14,542 corresponding to the amortization of the above market acquired charters, respectively.</font></p><p style="margin-top:6pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">An analysis of above market acquired charters is as follows: </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:302.65pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><a name="DM_MAP_85c56e136ece4dd5baf9175009fab079"><font style="font-family:'Times New Roman'; font-weight:bold">Above</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">market</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">acquired</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">charters</font></a></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; page-break-after:avoid; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Book</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">Value</font><font style="font-family:'Times New Roman'"> </font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:8pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount as at January</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">1, 2017</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">90,243</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Amortization</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$ (15,208)</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2017</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">75,035</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Acquisitions</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$&#160;&#160;&#160; 10,041</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Amortization</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$&#160;&#160; (16,890)</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:302.65pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Carrying amount as at December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31, 2018</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$</font><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">68,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:295.45pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:57.35pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:11.25pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:12pt; margin-bottom:0pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 the remaining carrying amount of unamortized above market acquired time charters was $68,186 and will be amortized in future years as follows: </font></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:9pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:311pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><a name="DM_MAP_87b27a729eab4960aff9142a1c62b8b7"><font style="font-family:'Times New Roman'; font-weight:bold">For</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">the</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">year ending </font></a></p><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">December</font><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font><font style="font-family:'Times New Roman'; font-weight:bold">31,</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; font-size:8pt"><font style="font-family:'Times New Roman'; font-weight:bold">Amount</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2019</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$17,084</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">2020</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$14,287</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2021</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$10,652</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2022</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$8,371</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">2023</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$8,371</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'">Thereafter</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">$9,421</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:303.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr><tr><td style="width:311pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-left:12pt; margin-bottom:0pt; text-indent:-12pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt; font-weight:bold">$&#160;&#160; 68,186</font><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:303.8pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; line-height:2pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td><td style="width:49pt; padding-left:7.2pt; vertical-align:bottom"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; line-height:1pt; border-top-style:solid; border-top-width:1pt; padding-top:1pt"><font style="font-family:'Times New Roman'; font-size:1pt">&#xa0;</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; page-break-after:avoid; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(a)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Principles of Consolidation</font><font style="font-family:'Times New Roman'; font-weight:bold">:</font><font style="font-family:'Times New Roman'"> The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;), and include the accounts of the legal entities comprising the Partnership as discussed in Note 1. Intra-group balances and transactions have been eliminated upon consolidation. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(b)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Use of Estimates:</font><font style="font-family:'Times New Roman'"> 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. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(c)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Accounting for Revenue, Voyage and Operating Expenses:</font><font style="font-family:'Times New Roman'"> 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. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. A time charter generally provides typical warranties and owner protective restrictions. The performance obligations in a time charter are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to the owner of the vessel. Some of the Partnership&#8217;s time charters may also contain profit sharing provisions, under which the Partnership can realize additional revenues in the event that spot rates are higher than the base rates in these time charters. A bareboat charter is a contract in which the vessel owner provides the vessel to the charterer for a fixed period of time at a specified daily rate, which is generally payable in advance, and the charterer generally assumes all risk and costs of operation during the bareboat charter period. The time charter and bareboat contracts are considered operating leases and therefore do not fall under the scope of Accounting Standards Codification (&#8220;ASC&#8221;) 606 because (i) the vessel is an identifiable asset (ii) the owner of the vessel does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Revenues from time and bareboat charters are recognized ratably on a straight line basis over the period of the respective charter. Revenues from profit sharing arrangements in time charters are recognized in the period earned. Under time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer. Operating costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants are paid for by the Partnership under time charter agreements.&#160; </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load port-to-discharge port basis, subject to various cargo handling terms. The Partnership accounts for a voyage charter when all the following criteria are met: (1) the parties to the contract have approved the contract in the form of a written charter agreement and are committed to perform their respective obligations, (2) the Partnership can identify each party&#8217;s rights regarding the services to be transferred, (3) the Partnership can identify the payment terms for the services to be transferred, (4) the charter agreement has&#160; commercial substance (that is, the risk, timing, or amount of the Partnership&#8217;s future cash flows is expected to change as a result of the contract) and (5) it is probable that the Partnership will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the charterer. The Partnership determined that its voyage charters consist of a single performance obligation which is met evenly as the voyage progresses and begin to be satisfied once the vessel is ready to load the cargo. The voyage charter party agreement generally has a demurrage clause according to which the charterer reimburses the vessel owner for any potential delays exceeding the allowed lay-time as per the charter party clause at the ports visited which is recorded as demurrage revenue. Revenues from voyage charters are recognized on a straight line basis over the voyage duration which commences once the vessel is ready to load the cargo and terminates upon the completion of the discharge of the cargo. In voyage charters vessel operating and voyage expenses are paid for by the Partnership. The voyage charters are considered service contracts which fall under the provisions of ASC 606 because the Partnership retains control over the operations of the vessels such as the routes taken or the vessels&#8217; speed.</font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Deferred revenue represents cash received for undelivered performance obligations and deferred revenue resulting from straight-line revenue recognition in respect of charter agreements that provide for varying charter rates. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining as long-term liability. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and expensed over the related charter period and all the other voyage expenses are expensed as incurred except for expenses during the ballast portion of the voyage. Any expenses incurred during the ballast portion of the voyage (period between the contract date and the date of the vessel&#8217;s arrival to the load port) such as bunker expenses, canal tolls and port expenses are deferred and are recognized on a straight-line basis, in voyage expenses, over the voyage duration as the Partnership satisfies the performance obligations under the contract because these costs are (1) incurred to fulfill a contract that we can specifically identify, (2) able to generate or enhance resources of the company that will be used to satisfy performance of the terms of the contract, and (3) expected to be recovered from the charterer.&#160; These costs are considered &#8216;contract fulfillment costs&#8217; and are included in &#8216;prepayments and other assets&#8217; in the consolidated balance sheets. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel operating expenses presented in the consolidated financial statements mainly consist of: </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-18.35pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;Management fees payable to the Partnership&#8217;s manager, Capital Ship Management Corp. (the &#8220;Manager&#8221; or &#8220;CSM&#8221;) under three different types of Management agreements (Note 4); and </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-18.35pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;Crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses. </font></p><p style="margin-top:11.25pt; margin-bottom:0pt; text-indent:24.45pt; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel operating expenses are expensed as incurred. </font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(d)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Foreign Currency Transactions:</font><font style="font-family:'Times New Roman'"> The functional currency of the Partnership is the U.S.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Dollar because the Partnership&#8217;s vessels operate in international shipping markets that utilize the U.S.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">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.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Dollar, are translated into the functional currency using the exchange rate at those dates. Gains or losses resulting from foreign currency transactions are included in other income in the accompanying consolidated statements of comprehensive (loss) / income. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(e)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Cash and Cash Equivalents:</font><font style="font-family:'Times New Roman'"> 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></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(f)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Restricted cash:</font><font style="font-family:'Times New Roman'"> For the Partnership to comply with debt covenants under its credit facilities, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(g)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Trade Accounts Receivable:</font><font style="font-family:'Times New Roman'"> The amount shown as trade accounts receivable primarily consists of earned revenue that has not been billed yet or that it has been billed but not yet collected. At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate write off. As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017 there were no write offs. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(h)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Inventories:</font><font style="font-family:'Times New Roman'"> Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of disposal and transportation. The cost is determined by the first-in, first-out method. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(i)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Vessels Held for Sale:</font><font style="font-family:'Times New Roman'"> The Partnership classifies vessels as being held for sale when the following criteria are met: (i)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">management is committed to sell the asset; (ii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the asset is available for immediate sale in its present condition; (iii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">an active program to locate a buyer and other actions required to complete the plan</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to sell the asset have been initiated; (iv)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In the case that a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">its carrying amount before the vessel was classified as held for sale, adjusted for any depreciation expense that would have been recognized if the vessel had been continuously classified as held and used and (ii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">its fair value at the date of the subsequent decision not to sell. </font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(j)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Fixed Assets:</font><font style="font-family:'Times New Roman'"> 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&#8217;s vessels is depreciated; beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel&#8217;s remaining economic useful life, after considering the estimated residual value. Management estimates the scrap value of the Partnership&#8217;s vessels to be $0.2 per light weight ton (LWT) and useful life to be 25 years. </font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(k)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Impairment of Long-lived Assets:</font><font style="font-family:'Times New Roman'"> An impairment loss on long-lived assets is recognized when indicators of impairment are present and the carrying amount of the long-lived asset is greater than its fair value and not believed to be recoverable. In determining future benefits derived from use of long-lived assets, the Partnership performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the asset, including any related intangible assets and liabilities, exceeds its undiscounted future net cash flows, the carrying value is reduced to its fair value. Various factors including future charter rates and vessel operating costs are included in this analysis. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In recent years, changing market conditions resulted in a decrease in charter rates and values of assets. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its long-lived assets. The Partnership has performed an undiscounted cash flow test based on U.S.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">GAAP as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017, determining undiscounted projected net operating cash flows for the vessels and comparing them to the carrying values of the vessels, and any related intangible assets and liabilities. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">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&#8217;s historical performance and expectations for the vessels&#8217; utilization under the current deployment strategy.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Based on these assumptions, the Partnership determined that the vessels held for use and their related intangible assets and liabilities were not impaired as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(l)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Deferred charges, net:</font><font style="font-family:'Times New Roman'"> Deferred charges, net are comprised mainly of dry docking costs. The Partnership&#8217;s vessels are required to be dry docked every thirty to sixty months for major repairs and maintenance that cannot be performed while the vessels are under operation. The Partnership has adopted the deferral method of accounting for dry docking activities whereby costs incurred are deferred and amortized on a straight line basis over the period until the next scheduled dry docking activity. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(m)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Intangible assets:</font><font style="font-family:'Times New Roman'"> The Partnership records all identified tangible and intangible assets or any liabilities associated with the acquisition of a business or an asset at fair value. When a vessel or a business that owns a vessel is acquired with an existing charter agreement, the Partnership considers whether any value should be assigned to the attached charter agreement acquired. The value to be assigned to the charter agreement is based on the difference of</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the contractual charter rate of the agreement acquired and</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the prevailing market rate for a charter of equivalent duration at the time of the acquisition, determined by independent appraisers as at that date.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">The resulting above-market (assets) or below-market (liabilities) charters are amortized using the straight line method as a reduction or increase, respectively, to revenues over the remaining term of the charters. </font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(n)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Net Income Per Limited Partner Unit:</font><font style="font-family:'Times New Roman'"> Basic net income per limited partner unit is calculated by dividing the Partnership&#8217;s net income less net income allocable to preferred unit holders, general partner&#8217;s interest in net income (including incentive distribution rights) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 14). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised. </font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(o)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Segment Reporting:</font><font style="font-family:'Times New Roman'"> 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></p></div> <div class="Section1"><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(p)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Omnibus Incentive Compensation Plan:</font><font style="font-family:'Times New Roman'"> Equity compensation expense represents vested and unvested units granted to employees and to non-employee directors, for their services as directors, as well as to non-employees and are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income. Units granted to employees are measured at their fair value equal to the market value of the Partnership&#8217;s common units on the grant date. Unvested units granted to non-employees are initially and subsequently measured at their then current fair value as of the financial reporting dates. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period. In addition, unvested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates (Note 13). </font></p></div> <div class="Section1"><table cellspacing="0" cellpadding="0" style="margin-left:30.6pt; border-collapse:collapse"><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="3" style="width:374.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As reported</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balances without adoption of ASU 2014-09</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect of change</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Assets</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Current Assets</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Trade accounts receivable</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$16,126</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$17,526</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$(1,400)</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Prepayments and other assets</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">8,532</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">8,135</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">397</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Liabilities</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Current liabilities</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">115,159</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">115,194</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">35</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><table cellspacing="0" cellpadding="0" style="margin-left:30.6pt; border-collapse:collapse"><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td colspan="3" style="width:393.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As reported</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balances without adoption of ASU 2014-09</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect of change</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Total revenues</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$279,254</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$280,654</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$(1,400)</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage expenses</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">46,315</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">46,747</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">432</font></p></td></tr><tr><td style="width:124.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership&#8217;s net (loss) / income</font></p></td><td style="width:94.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(104)</font></p></td><td style="width:123.85pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">864</font></p></td><td style="width:153.85pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(968)</font></p></td></tr><tr><td style="width:124.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net loss per common unit basic and diluted </font><font style="font-family:'Times New Roman'">(adjusted for the March 2019 Reverse Split)</font></p></td><td style="width:94.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.60)</font></p></td><td style="width:123.85pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.55)</font></p></td><td style="width:153.85pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.05)</font></p></td></tr></table><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">2. Significant Accounting Policies </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_c70f655f66ba4cd2bc9a1cbc0ed1a3a3"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(a)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Principles of Consolidation</font><font style="font-family:'Times New Roman'; font-weight:bold">:</font><font style="font-family:'Times New Roman'"> The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;), and include the accounts of the legal entities comprising the Partnership as discussed in Note 1. Intra-group balances and transactions have been eliminated upon consolidation. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_0f76afe1a7bd4244835f84d040553ebe"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(b)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Use of Estimates:</font><font style="font-family:'Times New Roman'"> 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. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_874d00638f0e43259a7c79be774636db"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(c)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Accounting for Revenue, Voyage and Operating Expenses:</font><font style="font-family:'Times New Roman'"> 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. </font></a></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. A time charter generally provides typical warranties and owner protective restrictions. The performance obligations in a time charter are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to the owner of the vessel. Some of the Partnership&#8217;s time charters may also contain profit sharing provisions, under which the Partnership can realize additional revenues in the event that spot rates are higher than the base rates in these time charters. A bareboat charter is a contract in which the vessel owner provides the vessel to the charterer for a fixed period of time at a specified daily rate, which is generally payable in advance, and the charterer generally assumes all risk and costs of operation during the bareboat charter period. The time charter and bareboat contracts are considered operating leases and therefore do not fall under the scope of Accounting Standards Codification (&#8220;ASC&#8221;) 606 because (i) the vessel is an identifiable asset (ii) the owner of the vessel does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Revenues from time and bareboat charters are recognized ratably on a straight line basis over the period of the respective charter. Revenues from profit sharing arrangements in time charters are recognized in the period earned. Under time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer. Operating costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants are paid for by the Partnership under time charter agreements.&#160; </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load port-to-discharge port basis, subject to various cargo handling terms. The Partnership accounts for a voyage charter when all the following criteria are met: (1) the parties to the contract have approved the contract in the form of a written charter agreement and are committed to perform their respective obligations, (2) the Partnership can identify each party&#8217;s rights regarding the services to be transferred, (3) the Partnership can identify the payment terms for the services to be transferred, (4) the charter agreement has&#160; commercial substance (that is, the risk, timing, or amount of the Partnership&#8217;s future cash flows is expected to change as a result of the contract) and (5) it is probable that the Partnership will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the charterer. The Partnership determined that its voyage charters consist of a single performance obligation which is met evenly as the voyage progresses and begin to be satisfied once the vessel is ready to load the cargo. The voyage charter party agreement generally has a demurrage clause according to which the charterer reimburses the vessel owner for any potential delays exceeding the allowed lay-time as per the charter party clause at the ports visited which is recorded as demurrage revenue. Revenues from voyage charters are recognized on a straight line basis over the voyage duration which commences once the vessel is ready to load the cargo and terminates upon the completion of the discharge of the cargo. In voyage charters vessel operating and voyage expenses are paid for by the Partnership. The voyage charters are considered service contracts which fall under the provisions of ASC 606 because the Partnership retains control over the operations of the vessels such as the routes taken or the vessels&#8217; speed.</font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Deferred revenue represents cash received for undelivered performance obligations and deferred revenue resulting from straight-line revenue recognition in respect of charter agreements that provide for varying charter rates. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the remaining as long-term liability. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and expensed over the related charter period and all the other voyage expenses are expensed as incurred except for expenses during the ballast portion of the voyage. Any expenses incurred during the ballast portion of the voyage (period between the contract date and the date of the vessel&#8217;s arrival to the load port) such as bunker expenses, canal tolls and port expenses are deferred and are recognized on a straight-line basis, in voyage expenses, over the voyage duration as the Partnership satisfies the performance obligations under the contract because these costs are (1) incurred to fulfill a contract that we can specifically identify, (2) able to generate or enhance resources of the company that will be used to satisfy performance of the terms of the contract, and (3) expected to be recovered from the charterer.&#160; These costs are considered &#8216;contract fulfillment costs&#8217; and are included in &#8216;prepayments and other assets&#8217; in the consolidated balance sheets. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; page-break-after:avoid; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel operating expenses presented in the consolidated financial statements mainly consist of: </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-18.35pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;Management fees payable to the Partnership&#8217;s manager, Capital Ship Management Corp. (the &#8220;Manager&#8221; or &#8220;CSM&#8221;) under three different types of Management agreements (Note 4); and </font></p><p style="margin-top:6pt; margin-left:79.55pt; margin-bottom:0pt; text-indent:-18.35pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#8226;Crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses. </font></p><p style="margin-top:11.25pt; margin-bottom:0pt; text-indent:24.45pt; font-size:10pt"><font style="font-family:'Times New Roman'">Vessel operating expenses are expensed as incurred. </font></p><p style="margin-top:9pt; margin-bottom:0pt; font-size:1pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_80d5802d6644474b8b0aed39343a797d"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(d)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Foreign Currency Transactions:</font><font style="font-family:'Times New Roman'"> The functional currency of the Partnership is the U.S.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Dollar because the Partnership&#8217;s vessels operate in international shipping markets that utilize the U.S.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">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.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Dollar, are translated into the functional currency using the exchange rate at those dates. Gains or losses resulting from foreign currency transactions are included in other income in the accompanying consolidated statements of comprehensive (loss) / income. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_220998358ecd44d09b0c466c4b8f4100"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(e)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Cash and Cash Equivalents:</font><font style="font-family:'Times New Roman'"> 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></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_23aef0cc5ff54ec7b8c6086da06df08b"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(f)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Restricted cash:</font><font style="font-family:'Times New Roman'"> For the Partnership to comply with debt covenants under its credit facilities, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_ee8dc84d93bc4ecf946a1df84c9699ed"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(g)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Trade Accounts Receivable:</font><font style="font-family:'Times New Roman'"> The amount shown as trade accounts receivable primarily consists of earned revenue that has not been billed yet or that it has been billed but not yet collected. At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate write off. As of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017 there were no write offs. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_ae691fc25e784edd9883489763f153e2"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(h)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Inventories:</font><font style="font-family:'Times New Roman'"> Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of disposal and transportation. The cost is determined by the first-in, first-out method. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_7566457b0c6947088a5d93256831f1b2"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(i)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Vessels Held for Sale:</font><font style="font-family:'Times New Roman'"> The Partnership classifies vessels as being held for sale when the following criteria are met: (i)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">management is committed to sell the asset; (ii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the asset is available for immediate sale in its present condition; (iii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">an active program to locate a buyer and other actions required to complete the plan</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">to sell the asset have been initiated; (iv)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. </font></a></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. </font></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In the case that a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">its carrying amount before the vessel was classified as held for sale, adjusted for any depreciation expense that would have been recognized if the vessel had been continuously classified as held and used and (ii)</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">its fair value at the date of the subsequent decision not to sell. </font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_ad50a25a81954f33a93a6bf7cad8e4e5"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(j)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Fixed Assets:</font><font style="font-family:'Times New Roman'"> 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&#8217;s vessels is depreciated; beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel&#8217;s remaining economic useful life, after considering the estimated residual value. Management estimates the scrap value of the Partnership&#8217;s vessels to be $0.2 per light weight ton (LWT) and useful life to be 25 years. </font></a></p><p style="margin-top:13.5pt; margin-bottom:0pt; font-size:1pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_9ac92d968dec414ebe9374f473a4916f"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(k)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Impairment of Long-lived Assets:</font><font style="font-family:'Times New Roman'"> An impairment loss on long-lived assets is recognized when indicators of impairment are present and the carrying amount of the long-lived asset is greater than its fair value and not believed to be recoverable. In determining future benefits derived from use of long-lived assets, the Partnership performs an analysis of the anticipated undiscounted future net cash flows of the related long-lived assets. If the carrying value of the asset, including any related intangible assets and liabilities, exceeds its undiscounted future net cash flows, the carrying value is reduced to its fair value. Various factors including future charter rates and vessel operating costs are included in this analysis. </font></a></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In recent years, changing market conditions resulted in a decrease in charter rates and values of assets. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its long-lived assets. The Partnership has performed an undiscounted cash flow test based on U.S.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">GAAP as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017, determining undiscounted projected net operating cash flows for the vessels and comparing them to the carrying values of the vessels, and any related intangible assets and liabilities. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">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&#8217;s historical performance and expectations for the vessels&#8217; utilization under the current deployment strategy.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">Based on these assumptions, the Partnership determined that the vessels held for use and their related intangible assets and liabilities were not impaired as of December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">31, 2018 and 2017. </font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_aae6ec861fbc49cc9f19412cc80cd292"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(l)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Deferred charges, net:</font><font style="font-family:'Times New Roman'"> Deferred charges, net are comprised mainly of dry docking costs. The Partnership&#8217;s vessels are required to be dry docked every thirty to sixty months for major repairs and maintenance that cannot be performed while the vessels are under operation. The Partnership has adopted the deferral method of accounting for dry docking activities whereby costs incurred are deferred and amortized on a straight line basis over the period until the next scheduled dry docking activity. </font></a></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_6f0236ba65a2447c81124ee3c1250beb"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(m)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Intangible assets:</font><font style="font-family:'Times New Roman'"> The Partnership records all identified tangible and intangible assets or any liabilities associated with the acquisition of a business or an asset at fair value. When a vessel or a business that owns a vessel is acquired with an existing charter agreement, the Partnership considers whether any value should be assigned to the attached charter agreement acquired. The value to be assigned to the charter agreement is based on the difference of</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the contractual charter rate of the agreement acquired and</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">the prevailing market rate for a charter of equivalent duration at the time of the acquisition, determined by independent appraisers as at that date.</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">The resulting above-market (assets) or below-market (liabilities) charters are amortized using the straight line method as a reduction or increase, respectively, to revenues over the remaining term of the charters. </font></a></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_606da7e519f647849179d1a3a791022e"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(n)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Net Income Per Limited Partner Unit:</font><font style="font-family:'Times New Roman'"> Basic net income per limited partner unit is calculated by dividing the Partnership&#8217;s net income less net income allocable to preferred unit holders, general partner&#8217;s interest in net income (including incentive distribution rights) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 14). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised. </font></a></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_a82a7dec77174c178537a91028003ca0"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(o)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Segment Reporting:</font><font style="font-family:'Times New Roman'"> 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></a></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><a name="DM_MAP_1d37ae3261f24633bebea5f604db89ec"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(p)</font><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">Omnibus Incentive Compensation Plan:</font><font style="font-family:'Times New Roman'"> Equity compensation expense represents vested and unvested units granted to employees and to non-employee directors, for their services as directors, as well as to non-employees and are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income. Units granted to employees are measured at their fair value equal to the market value of the Partnership&#8217;s common units on the grant date. Unvested units granted to non-employees are initially and subsequently measured at their then current fair value as of the financial reporting dates. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period. In addition, unvested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates (Note 13). </font></a></p><p style="margin-top:6pt; margin-left:24.45pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(q)</font><font style="font-family:'Times New Roman'; font-weight:bold">Recent Accounting Pronouncements:</font><font style="font-family:'Times New Roman'"> In January 2017, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued the Accounting Standard Update (&#8220;ASU&#8221;) 2017-01 Business Combinations to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Under prior implementation guidance the existence of an integrated set of acquired activities (inputs and processes that generate outputs) constitutes an acquisition of business. This ASU provides a screen to determine when a set of assets and activities does not constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This update was effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, including interim periods within those years. The amendments of this ASU should be applied prospectively on or after the effective date. Early adoption was permitted, including adoption in an interim period 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the ASU, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and 2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. During 2018 the Partnership adopted this ASU. The implementation of this ASU resulted in acquisitions of vessel owning companies being treated as asset acquisitions while under the old standard may have been treated as acquisitions of a business. However, there is no impact in the financial statements of the Partnership as in both cases the transaction price was allocated to the vessel and the attached time charter.</font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In November 2016 the FASB issued the ASU 2016-18 &#8211; Restricted cash. This ASU requires that a statement of cash flows explains the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. This update was effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, including interim periods within those years and is required to be applied retrospectively. Early adoption was permitted, including adoption in an interim period. The implementation of this update on January 1, 2018, affected the presentation in the statement of cash flows relating to changes in restricted cash which are presented as part of cash </font><font style="font-family:'Times New Roman'">whereas previously the Partnership presented these within investing activities</font><font style="font-family:'Times New Roman'"> and had no impact on the Partnership&#8217;s balance sheet and statement of comprehensive (loss) / income. </font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In August 2016, the FASB issued the ASU 2016-15 &#8211; classification of certain cash payments and cash receipts. This ASU addresses certain cash flow issues with the objective of reducing the existing diversity in practice. This update was effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, including interim periods within those years. Early adoption was permitted, including adoption in an interim period. There was no impact from the adoption of this update as the classification of the related cash payments and cash receipts has always been reported as described in the ASU. </font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">In February 2016, the FASB issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Accounting by lessors will remain largely unchanged from current U.S.</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">GAAP. The requirements of this standard include an increase in required disclosures. The Partnership expects that its time charter arrangements will be subject to the requirements of the new Leases standard as the Partnership will be regarded as the lessor. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after the date of initial application, amended subsequently with ASU 2018-11 below adding an option to use certain transition relief. This standard is effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">15, 2018, including interim periods within those years. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leases standard, ASU 2016-02 </font><font style="font-family:'Times New Roman'">(</font><font style="font-family:'Times New Roman'; font-size:10pt">codified as ASC 842)</font><font style="font-family:'Times New Roman'">. </font><font style="font-family:'Times New Roman'; font-size:10pt">Specifically, under the amendments in ASU 2018-11:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:11.55pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(a) Entities may elect not to recast the comparative periods presented when transitioning to ASC 842; and</font></p><p style="margin-top:0pt; margin-left:47.55pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(b) Lessors may elect not to separate lease and non-lease components when the following criteria are met: Criterion A &#8212;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the timing and pattern of transfer for the lease component is the same as those for the non-lease component associated with that lease component and Criterion B &#8212; the lease component, if accounted for separately, would be classified as an operating lease. </font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The transition relief amendments in the ASU apply to entities that have not yet adopted ASC 842. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in Update 2016-02.</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'"> In December 2018, the FASB issued ASU 2018-20 to provide narrow scope improvements for lessors. The amendments in this update related to sales taxes and other similar taxes collected from lessees affect all lessors that elect the accounting policy election. In addition, amendments in this update related to lessor costs affect all lessor entities that have lease contracts that either require lessees to pay lessor costs directly to a third party or require lessees to reimburse lessors for costs paid by lessors directly to third parties. Finally, the amendments in this update related to recognition of variable payments for contracts with lease and non-lease components affect all lessor entities with variable payments that relate to both lease and non-lease components. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in ASU 2016-02. The Partnership adopted this standard for the reporting period commencing on January 1, 2019 and elected the practical expedient under ASU 2018-11 for the vessels under time charter agreements. Furthermore, the Partnership applied the transition provisions of ASU 2016-02 at its adoption date, rather than the earliest comparative period presented in the financial statements, as permitted by ASU 2018-11. The nature of the lease component and non-lease component that were combined as a result of applying the practical expedient are the contract for the hire of a vessel and the fees for operating and maintaining the vessel respectively. The lease component is the predominant component and the Partnership accounts for the combined component as an operating lease in accordance with Topic 842.</font><font style="font-family:'Times New Roman'; font-size:8pt; color:#ff0000"> </font><font style="font-family:'Times New Roman'">The Partnership applied the topic 842 with no significant impact on its financial statements and as a result no adjustment was posted in the Partnership&#8217;s opening retained earnings as of January 1, 2019.</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In May 2014, the FASB issued the ASU No 2014-09 Revenue from Contracts with Customers. ASU 2014-09, as amended, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The standard was effective for annual periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, and interim periods therein, and shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The core principle is that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. Under ASC 606, an entity is required to perform the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations of the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfied a performance obligation. Additionally, the guidance requires improved disclosures as to the nature, amount, timing and uncertainty of revenue that is recognized. The Partnership adopted the provisions of ASC 606 on January 1, 2018 using the modified retrospective approach for contracts that are not completed at the date of initial application. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for periods prior to January 1, 2018. The effect of the implementation of this update was insignificant as most of the Partnership&#8217;s vessels were operated under time charter arrangements as of December 31, 2017 and as a result no adjustment was posted in the Partnership&#8217;s opening retained earnings as of January 1, 2018. Time charter contracts are considered operating leases and therefore do not fall under the scope of ASC 606 because (i) the vessel is an identifiable asset (ii) the Company does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Since the Partnership&#8217;s performance obligation under each voyage contract is met evenly as the voyage progresses, the revenue is recognized on a straight-line basis over the voyage days from the date the vessel is ready to load the cargo to completion of its discharge and is not related to the timing of payment received from its customers. Payment terms under voyage charters are disclosed in the relevant voyage charter agreements. Prior to the adoption of this standard, revenues generated under voyage charter agreements were recognized on a pro-rata basis over the period of the voyage which was deemed to commence upon the later of the completion of discharge of the vessel&#8217;s previous cargo or upon vessel&#8217;s arrival to the agreed upon port, and deemed to end upon the completion of discharge of the delivered cargo. </font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Further, the adoption of ASC 606 impacted the accounts receivable, the prepayments and other assets and the current liabilities on our balance sheet as of December 31, 2018. Under ASC 606, receivables represent an entity&apos;s unconditional right to consideration, billed or unbilled. As of December 31, 2018 prepayments and other assets include bunker expenses of $397 incurred between the contract date and the date of the vessel&#8217;s arrival to the load port. As of January 1, 2018 there was no balance relating to contract fulfillment costs. As of December 31, 2018 and 2017 the unearned revenue related to undelivered performance obligations amounted to $371 and $0 respectively. The Partnership will recognize this revenue in the first quarter of 2019 as the performance obligations are met. </font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The following table shows the revenues earned from time and bareboat charters and voyage charters for the year ended</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">December 31, 2018:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:152.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><a name="DM_MAP_9c73510f526741c28afcae1060a9d891"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td style="width:116.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018</font></p></td></tr><tr><td style="width:152.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Time and bareboat charters (operating leases)</font></p></td><td style="width:116.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$213,427</font></p></td></tr><tr><td style="width:152.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage charters (accounted for under ASC 606)</font></p></td><td style="width:116.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">65,827</font></p></td></tr><tr><td style="width:152.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:116.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$279,254</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">The following table presents the impact of the adoption of ASU 2014-09 on our balance sheet at</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">December 31, 2018:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="margin-left:30.6pt; border-collapse:collapse; text-align:left"><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><a name="DM_MAP_cd82ffc187ba4df59c368642fd9f0239"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="3" style="width:374.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As reported</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balances without adoption of ASU 2014-09</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect of change</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Assets</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Current Assets</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Trade accounts receivable</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$16,126</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$17,526</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$(1,400)</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Prepayments and other assets</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">8,532</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">8,135</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">397</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Liabilities</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Current liabilities</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">115,159</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">115,194</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">35</font></p></td></tr></table><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-size:10pt">The following table presents the impact of the adoption of </font><font style="font-family:'Times New Roman'; font-size:10pt">ASU 2014-09 on our statement of comprehensive (loss) / income:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="margin-left:30.6pt; border-collapse:collapse; text-align:left"><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><a name="DM_MAP_8277fd55456145419de09ccfcbb6bc94"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="3" style="width:393.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As reported</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balances without adoption of ASU 2014-09</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect of change</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Total revenues</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$279,254</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$280,654</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$(1,400)</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage expenses</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">46,315</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">46,747</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">432</font></p></td></tr><tr><td style="width:124.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership&#8217;s net (loss) / income</font></p></td><td style="width:94.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(104)</font></p></td><td style="width:123.85pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">864</font></p></td><td style="width:153.85pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(968)</font></p></td></tr><tr><td style="width:124.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net loss per common unit basic and diluted </font><font style="font-family:'Times New Roman'">(adjusted for the March 2019 Reverse Split)</font></p></td><td style="width:94.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.60)</font></p></td><td style="width:123.85pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.55)</font></p></td><td style="width:153.85pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.05)</font></p></td></tr></table><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; font-size:10pt"><font>The adoption of ASC 606 had no impact on net cash provided by operating activities, investing activities and financing activities for the year ended December 31, 2018.</font></p></div> <div class="Section1"><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:152.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:116.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018</font></p></td></tr><tr><td style="width:152.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Time and bareboat charters (operating leases)</font></p></td><td style="width:116.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$213,427</font></p></td></tr><tr><td style="width:152.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage charters (accounted for under ASC 606)</font></p></td><td style="width:116.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">65,827</font></p></td></tr><tr><td style="width:152.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:116.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$279,254</font></p></td></tr></table></div><p style="margin-top:0pt; margin-bottom:0pt; font-size:12pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></div> <div class="Section1"><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-indent:-24.5pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold; font-style:italic">(q)</font><font style="font-family:'Times New Roman'; font-weight:bold">Recent Accounting Pronouncements:</font><font style="font-family:'Times New Roman'"> In January 2017, the Financial Accounting Standards Board (&#8220;FASB&#8221;) issued the Accounting Standard Update (&#8220;ASU&#8221;) 2017-01 Business Combinations to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Under prior implementation guidance the existence of an integrated set of acquired activities (inputs and processes that generate outputs) constitutes an acquisition of business. This ASU provides a screen to determine when a set of assets and activities does not constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This update was effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, including interim periods within those years. The amendments of this ASU should be applied prospectively on or after the effective date. Early adoption was permitted, including adoption in an interim period 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the ASU, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and 2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. During 2018 the Partnership adopted this ASU. The implementation of this ASU resulted in acquisitions of vessel owning companies being treated as asset acquisitions while under the old standard may have been treated as acquisitions of a business. However, there is no impact in the financial statements of the Partnership as in both cases the transaction price was allocated to the vessel and the attached time charter.</font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In November 2016 the FASB issued the ASU 2016-18 &#8211; Restricted cash. This ASU requires that a statement of cash flows explains the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. This update was effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, including interim periods within those years and is required to be applied retrospectively. Early adoption was permitted, including adoption in an interim period. The implementation of this update on January 1, 2018, affected the presentation in the statement of cash flows relating to changes in restricted cash which are presented as part of cash </font><font style="font-family:'Times New Roman'">whereas previously the Partnership presented these within investing activities</font><font style="font-family:'Times New Roman'"> and had no impact on the Partnership&#8217;s balance sheet and statement of comprehensive (loss) / income. </font></p><p style="margin-top:4pt; margin-left:24.5pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In August 2016, the FASB issued the ASU 2016-15 &#8211; classification of certain cash payments and cash receipts. This ASU addresses certain cash flow issues with the objective of reducing the existing diversity in practice. This update was effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, including interim periods within those years. Early adoption was permitted, including adoption in an interim period. There was no impact from the adoption of this update as the classification of the related cash payments and cash receipts has always been reported as described in the ASU. </font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">In February 2016, the FASB issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Accounting by lessors will remain largely unchanged from current U.S.</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">GAAP. The requirements of this standard include an increase in required disclosures. The Partnership expects that its time charter arrangements will be subject to the requirements of the new Leases standard as the Partnership will be regarded as the lessor. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after the date of initial application, amended subsequently with ASU 2018-11 below adding an option to use certain transition relief. This standard is effective for public entities with reporting periods beginning after December</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">15, 2018, including interim periods within those years. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leases standard, ASU 2016-02 </font><font style="font-family:'Times New Roman'">(</font><font style="font-family:'Times New Roman'; font-size:10pt">codified as ASC 842)</font><font style="font-family:'Times New Roman'">. </font><font style="font-family:'Times New Roman'; font-size:10pt">Specifically, under the amendments in ASU 2018-11:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-indent:11.55pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(a) Entities may elect not to recast the comparative periods presented when transitioning to ASC 842; and</font></p><p style="margin-top:0pt; margin-left:47.55pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">(b) Lessors may elect not to separate lease and non-lease components when the following criteria are met: Criterion A &#8212;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; the timing and pattern of transfer for the lease component is the same as those for the non-lease component associated with that lease component and Criterion B &#8212; the lease component, if accounted for separately, would be classified as an operating lease. </font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The transition relief amendments in the ASU apply to entities that have not yet adopted ASC 842. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in Update 2016-02.</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'"> In December 2018, the FASB issued ASU 2018-20 to provide narrow scope improvements for lessors. The amendments in this update related to sales taxes and other similar taxes collected from lessees affect all lessors that elect the accounting policy election. In addition, amendments in this update related to lessor costs affect all lessor entities that have lease contracts that either require lessees to pay lessor costs directly to a third party or require lessees to reimburse lessors for costs paid by lessors directly to third parties. Finally, the amendments in this update related to recognition of variable payments for contracts with lease and non-lease components affect all lessor entities with variable payments that relate to both lease and non-lease components. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in ASU 2016-02. The Partnership adopted this standard for the reporting period commencing on January 1, 2019 and elected the practical expedient under ASU 2018-11 for the vessels under time charter agreements. Furthermore, the Partnership applied the transition provisions of ASU 2016-02 at its adoption date, rather than the earliest comparative period presented in the financial statements, as permitted by ASU 2018-11. The nature of the lease component and non-lease component that were combined as a result of applying the practical expedient are the contract for the hire of a vessel and the fees for operating and maintaining the vessel respectively. The lease component is the predominant component and the Partnership accounts for the combined component as an operating lease in accordance with Topic 842.</font><font style="font-family:'Times New Roman'; font-size:8pt; color:#ff0000"> </font><font style="font-family:'Times New Roman'">The Partnership applied the topic 842 with no significant impact on its financial statements and as a result no adjustment was posted in the Partnership&#8217;s opening retained earnings as of January 1, 2019.</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">In May 2014, the FASB issued the ASU No 2014-09 Revenue from Contracts with Customers. ASU 2014-09, as amended, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance. The standard was effective for annual periods beginning after December</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">15, 2017, and interim periods therein, and shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The core principle is that a company should recognize revenue when promised goods or services are transferred to customers in an amount that reflects the consideration to which an entity expects to be entitled for those goods or services. ASU 2014-09 defines a five-step process to achieve this core principle and, in doing so, more judgment and estimates may be required within the revenue recognition process than are required under existing U.S. GAAP. Under ASC 606, an entity is required to perform the following five steps: (1) identify the contract(s) with a customer; (2) identify the performance obligations of the contract; (3) determine the transaction price; (4) allocate the transaction price to the performance obligations in the contract; and (5) recognize revenue when (or as) the entity satisfied a performance obligation. Additionally, the guidance requires improved disclosures as to the nature, amount, timing and uncertainty of revenue that is recognized. The Partnership adopted the provisions of ASC 606 on January 1, 2018 using the modified retrospective approach for contracts that are not completed at the date of initial application. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for periods prior to January 1, 2018. The effect of the implementation of this update was insignificant as most of the Partnership&#8217;s vessels were operated under time charter arrangements as of December 31, 2017 and as a result no adjustment was posted in the Partnership&#8217;s opening retained earnings as of January 1, 2018. Time charter contracts are considered operating leases and therefore do not fall under the scope of ASC 606 because (i) the vessel is an identifiable asset (ii) the Company does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Since the Partnership&#8217;s performance obligation under each voyage contract is met evenly as the voyage progresses, the revenue is recognized on a straight-line basis over the voyage days from the date the vessel is ready to load the cargo to completion of its discharge and is not related to the timing of payment received from its customers. Payment terms under voyage charters are disclosed in the relevant voyage charter agreements. Prior to the adoption of this standard, revenues generated under voyage charter agreements were recognized on a pro-rata basis over the period of the voyage which was deemed to commence upon the later of the completion of discharge of the vessel&#8217;s previous cargo or upon vessel&#8217;s arrival to the agreed upon port, and deemed to end upon the completion of discharge of the delivered cargo. </font></p><p style="margin-top:0pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:21.3pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Further, the adoption of ASC 606 impacted the accounts receivable, the prepayments and other assets and the current liabilities on our balance sheet as of December 31, 2018. Under ASC 606, receivables represent an entity&apos;s unconditional right to consideration, billed or unbilled. As of December 31, 2018 prepayments and other assets include bunker expenses of $397 incurred between the contract date and the date of the vessel&#8217;s arrival to the load port. As of January 1, 2018 there was no balance relating to contract fulfillment costs. As of December 31, 2018 and 2017 the unearned revenue related to undelivered performance obligations amounted to $371 and $0 respectively. The Partnership will recognize this revenue in the first quarter of 2019 as the performance obligations are met. </font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">The following table shows the revenues earned from time and bareboat charters and voyage charters for the year ended</font><font style="font-family:'Times New Roman'">&#xa0;</font><font style="font-family:'Times New Roman'">December 31, 2018:</font></p><div style="text-align:center"><table cellspacing="0" cellpadding="0" style="margin-right:auto; margin-left:auto; border-collapse:collapse; text-align:left"><tr><td style="width:152.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><a name="DM_MAP_9c73510f526741c28afcae1060a9d891"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td style="width:116.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018</font></p></td></tr><tr><td style="width:152.2pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Time and bareboat charters (operating leases)</font></p></td><td style="width:116.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$213,427</font></p></td></tr><tr><td style="width:152.2pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage charters (accounted for under ASC 606)</font></p></td><td style="width:116.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">65,827</font></p></td></tr><tr><td style="width:152.2pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Total</font></p></td><td style="width:116.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">$279,254</font></p></td></tr></table></div><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">The following table presents the impact of the adoption of ASU 2014-09 on our balance sheet at</font><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font><font style="font-family:'Times New Roman'; font-size:10pt">December 31, 2018:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-family:'Times New Roman'; font-size:10pt">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="margin-left:30.6pt; border-collapse:collapse; text-align:left"><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><a name="DM_MAP_cd82ffc187ba4df59c368642fd9f0239"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="3" style="width:374.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As at December 31, 2018</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As reported</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balances without adoption of ASU 2014-09</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect of change</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Assets</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Current Assets</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Trade accounts receivable</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$16,126</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$17,526</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$(1,400)</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Prepayments and other assets</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">8,532</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">8,135</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">397</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Liabilities</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td></tr><tr><td style="width:118.7pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Current liabilities</font></p></td><td style="width:90.35pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">115,159</font></p></td><td style="width:117.5pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">115,194</font></p></td><td style="width:145.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">35</font></p></td></tr></table><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; line-height:12pt"><font style="font-size:10pt">The following table presents the impact of the adoption of </font><font style="font-family:'Times New Roman'; font-size:10pt">ASU 2014-09 on our statement of comprehensive (loss) / income:</font></p><p style="margin-top:0pt; margin-left:36pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><table cellspacing="0" cellpadding="0" style="margin-left:30.6pt; border-collapse:collapse; text-align:left"><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><a name="DM_MAP_8277fd55456145419de09ccfcbb6bc94"><font style="font-family:'Times New Roman'">&#xa0;</font></a></p></td><td colspan="3" style="width:393.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">For the year ended December 31, 2018</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">As reported</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:center; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Balances without adoption of ASU 2014-09</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Effect of change</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Total revenues</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$279,254</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$280,654</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">$(1,400)</font></p></td></tr><tr><td style="width:124.05pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Voyage expenses</font></p></td><td style="width:94.55pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">46,315</font></p></td><td style="width:123.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">46,747</font></p></td><td style="width:153.85pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">432</font></p></td></tr><tr><td style="width:124.05pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'">Partnership&#8217;s net (loss) / income</font></p></td><td style="width:94.55pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(104)</font></p></td><td style="width:123.85pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">864</font></p></td><td style="width:153.85pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top; background-color:#cceeff"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'">(968)</font></p></td></tr><tr><td style="width:124.05pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:justify; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">Net loss per common unit basic and diluted </font><font style="font-family:'Times New Roman'">(adjusted for the March 2019 Reverse Split)</font></p></td><td style="width:94.55pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.60)</font></p></td><td style="width:123.85pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.55)</font></p></td><td style="width:153.85pt; border-top-style:solid; border-top-width:0.75pt; border-bottom-style:solid; border-bottom-width:0.75pt; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p><p style="margin-top:0pt; margin-bottom:0pt; text-align:right; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">(0.05)</font></p></td></tr></table><p style="margin-top:0pt; margin-left:24.45pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'">&#xa0;</font></p><p style="margin-top:6pt; margin-left:24.5pt; margin-bottom:0pt; font-size:10pt"><font>The adoption of ASC 606 had no impact on net cash provided by operating activities, investing activities and financing activities for the year ended December 31, 2018.</font></p><p style="margin-top:11.25pt; margin-bottom:0pt; font-size:10pt"><font style="font-family:'Times New Roman'; font-weight:bold">&#xa0;</font></p></div> Vessels were disposed in the previous years. Vessels were disposed in 2018 (Note 5). Companies established for the purpose of the agreement between the Partnership and DSS.