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Document And Entity Information
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12 Months Ended |
|---|---|
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Dec. 31, 2013
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| Document and Entity Information | |
| Document Type | 20-F |
| Document Period End Date | Dec. 31, 2013 |
| Amendment Flag | false |
| Entity Registrant Name | Capital Product Partners L.P. |
| Entity Central Index Key | 0001392326 |
| Entity Current Reporting Status | Yes |
| Entity Voluntary Filers | No |
| Current Fiscal Year End Date | --12-31 |
| Entity Filer Category | Accelerated Filer |
| Entity Well Known Seasoned Issuer | No |
| Document Fiscal Year Focus | 2013 |
| Document Fiscal Period Focus | FY |
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General Partner
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| Document and Entity Information | |
| Entity's units outstanding | 1,765,457 |
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Common Limited Partner
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| Document and Entity Information | |
| Entity's units outstanding | 88,440,710 |
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Preferred Limited Partner
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| Document and Entity Information | |
| Entity's units outstanding | 18,922,221 |
| X | ||||||||||
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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| X | ||||||||||
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
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- Definition
The current portion of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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| X | ||||||||||
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- Definition
The non-current portion of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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| X | ||||||||||
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- Definition
The limited partners' preferred ownership interests. No definition available.
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| X | ||||||||||
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- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
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| X | ||||||||||
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- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount due from customers or clients, more than one year from the balance sheet date, for goods or services that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Accumulated change in equity from transactions and other events and circumstances from non-owner sources, net of tax effect, at period end. Excludes Net Income (Loss), and accumulated changes in equity from transactions resulting from investments by owners and distributions to owners. Includes foreign currency translation items, certain pension adjustments, unrealized gains and losses on certain investments in debt and equity securities, other than temporary impairment (OTTI) losses related to factors other than credit losses on available-for-sale and held-to-maturity debt securities that an entity does not intend to sell and it is not more likely than not that the entity will be required to sell before recovery of the amortized cost basis, as well as changes in the fair value of derivatives related to the effective portion of a designated cash flow hedge. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold or consumed after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of the general partner's ownership interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of liabilities and equity items, including the portion of equity attributable to noncontrolling interests, if any. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Total obligations incurred as part of normal operations that are expected to be paid during the following twelve months or within one business cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of obligation due after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of the limited partners' ownership interests. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Consolidated Balance Sheets (Parentheticals)
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Dec. 31, 2013
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Dec. 31, 2012
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|---|---|---|
| Consolidated Balance Sheets (Abstract) | ||
| Limited Partners - Common Units Issued | 88,440,710 | 69,372,077 |
| Limited Partners - Common Units Outstanding | 88,440,710 | 69,372,077 |
| Limited Partners - Preferred Units Issued | 18,922,221 | 15,555,554 |
| Limited Partners - Preferred Units Outstanding | 18,922,221 | 15,555,554 |
| X | ||||||||||
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- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The number of limited partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The number of preferred units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The number of preferred units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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| X | ||||||||||
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- Definition
Revenues arising from services provided to related parties according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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| X | ||||||||||
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- Definition
Total revenues arising from services provided according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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| X | ||||||||||
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- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
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| X | ||||||||||
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- Definition
Amount of gain / (loss) on sale of claim. No definition available.
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| X | ||||||||||
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- Definition
Amount of net Income or Loss for the period allocated to noncontrolling preferred unit holders in an entity included in the reporting entity's consolidated financial statements. No definition available.
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| X | ||||||||||
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- Definition
Aggregate amount of net income allocated to common unitholders. No definition available.
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| X | ||||||||||
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- Definition
Net income (loss) allocated to each outstanding common limited partnership unit basic. No definition available.
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| X | ||||||||||
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- Definition
Net income (loss) allocated to each outstanding common limited partnership unit diluted. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
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| X | ||||||||||
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- Definition
Vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
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| X | ||||||||||
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- Definition
Related party vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
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| X | ||||||||||
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- Definition
Vessel voyage expenses are direct expenses to charter revenues and consist of commissions, port expenses, canal dues bunkers and other. No definition available.
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| X | ||||||||||
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- Definition
Related party vessel voyage expenses are direct expenses to charter revenues. No definition available.
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| X | ||||||||||
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- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit basic. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit diluted. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The amount of interest income and other income recognized during the period. Included in this element is interest derived from investments in debt securities, cash and cash equivalents, and other investments which reflect the time value of money or transactions in which the payments are for the use or forbearance of money and other income from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business). No definition available.
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| X | ||||||||||
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- Definition
The portion of profit or loss for the period, net of income taxes, which is attributable to the parent. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The aggregate amount of income or expense from ancillary business-related activities (that is to say, excluding major activities considered part of the normal operations of the business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
|
- Details
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| X | ||||||||||
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- Definition
The net amount of other income and expense amounts, the components of which are not separately disclosed on the income statement, resulting from ancillary business-related activities (that is, excluding major activities considered part of the normal operations of the business) also known as other nonoperating income (expense) recognized for the period. Such amounts may include: (a) dividends, (b) interest on securities, (c) net gains or losses on securities, (d) unusual costs, (e) gains or losses on foreign exchange transactions, and (f) miscellaneous other income and expense items. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. No definition available.
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| X | ||||||||||
|
- Definition
Fair value of acquiree's Equity Incentive Plan. No definition available.
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| X | ||||||||||
|
- Definition
Issuance of units for business acquisition. No definition available.
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| X | ||||||||||
|
- Definition
Issuance of common units for business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax and reclassification adjustments of other comprehensive income (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Total liability, recognized on accrual basis, on the gain on sale of claim. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
Capitalized dry docking and deferred costs included in liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
Capitalized vessel costs included in liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents the payments for vessel dry-docking expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of Net Assets acquired in business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value attributable to precombination services of Crude Carriers Corp incentive plan award. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of vessels transferred in. No definition available.
|
| X | ||||||||||
|
- Definition
Fair value of vessels transferred out, reduced by the net cash consideration received. No definition available.
|
| X | ||||||||||
|
- Definition
Offering expenses included in liabilities. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents payments for acquisitions and capitalized improvements of vessels. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from the issuance of partnership's, general partner, common and preferred units during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The cash proceeds net of commissions and expenses from the sale of vessels. No definition available.
|
| X | ||||||||||
|
- Definition
Issuance of units for business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The value of units issued for business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow associated with the acquisition of business during the period (for example, cash that was held by the acquired business). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
The aggregate expense recognized in the current period that allocates the cost of tangible assets, intangible assets, or depleting assets to periods that benefit from use of the assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash distribution paid to unit-holder of limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Change in recurring obligations of a business that arise from the acquisition of merchandise, materials, supplies and services used in the production and sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in amount due within one year (or one business cycle) from customers for the credit sale of goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate amount of expenses incurred but not yet paid. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period, excluding the portion taken into income, in the liability reflecting revenue yet to be earned for which cash or other forms of consideration was received or recorded as a receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The aggregate increase (decrease) during the reporting period in the amount due from the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entity's management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The increase (decrease) during the reporting period in the aggregate amount of obligations to be paid to the following types of related parties: a parent company and its subsidiaries; subsidiaries of a common parent; an entity and trust for the benefit of employees, such as pension and profit-sharing trusts that are managed by or under the trusteeship of the entities' management; an entity and its principal owners, management, or member of their immediate families, affiliates, or other parties with the ability to exert significant influence. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the aggregate value of all inventory held by the reporting entity, associated with underlying transactions that are classified as operating activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
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- Definition
The increase (decrease) during the reporting period in the value of prepaid expenses and other assets not separately disclosed in the statement of cash flows, for example, deferred expenses, intangible assets, or income taxes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The net cash inflow or outflow for the increase (decrease) associated with funds that are not available for withdrawal or use (such as funds held in escrow) and are associated with underlying transactions that are classified as investing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The amount of cash paid for interest during the period net of cash paid for interest that is capitalized. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from financing activities, including discontinued operations. Financing activity cash flows include obtaining resources from owners and providing them with a return on, and a return of, their investment; borrowing money and repaying amounts borrowed, or settling the obligation; and obtaining and paying for other resources obtained from creditors on long-term credit. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from investing activities, including discontinued operations. Investing activity cash flows include making and collecting loans and acquiring and disposing of debt or equity instruments and property, plant, and equipment and other productive assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
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- Definition
Amount of cash inflow (outflow) from operating activities, including discontinued operations. Operating activity cash flows include transactions, adjustments, and changes in value not defined as investing or financing activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Details
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| X | ||||||||||
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- Definition
The amount of intangibles that an Entity acquires in a noncash (or part noncash) acquisition. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
The cash outflow for loan and debt issuance costs. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow for cost incurred directly with the issuance of an equity security. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash inflow from a debt initially having maturity due after one year or beyond the operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
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| X | ||||||||||
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- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Details
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Basis Of Presentation And General Information
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Dec. 31, 2013
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| Basis Of Presentation and General Information (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Basis Of Presentation and General Information |
Capital Product Partners L.P. (the “Partnership”) was formed on January 16, 2007, under the laws of the Marshall Islands. The Partnership is an international shipping company. Its fleet of thirty modern high specification vessels consists of four suezmax crude oil tankers, eighteen modern medium range tankers all of which are classed as IMO II/III vessels, seven post-panamax container carrier vessels and one capesize bulk carrier. Its vessels are capable of carrying a wide range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil and jet fuel, edible oils and certain chemicals such as ethanol as well as dry cargo and containerized goods under short-term voyage charters and medium to long-term time and bareboat charters.
The consolidated financial statements include the following vessel-owning companies and operating companies which were all incorporated or formed under the laws of the Marshall Islands and Liberia.
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Significant Accounting Policies (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Significant Accounting Policies | 2. Significant Accounting Policies
Revenues are recorded over the term of the charter as service is provided and recognized on a pro-rata basis over the duration of the voyage.
All of the Partnership's time charters and bareboat charters are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee, and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective time or bareboat charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned. Deferred revenue represents cash received in advance of being earned. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long term liability.
Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of commissions, port expenses, canal dues and bunkers. Commissions are expensed over the related charter period and all the other voyage expenses are expensed as incurred. Under the Partnership's time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer, with the exception of Overseas Shipholding Group Inc. bareboat charter agreements and the exception of the M/T Agamemnon II and the M/T Ayrton II time charter agreements where the charterer is responsible for the commissions. For voyage charters all voyage expenses are paid by the Partnership.
Vessel operating expenses presented in the consolidated financial statements mainly consisted of:
Vessel operating expenses are expensed as incurred.
In recent years market conditions as compared to previous years have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its assets. The Partnership has performed an undiscounted cash flow test based on US GAAP as of December 31, 2013 and 2012, determining undiscounted projected net operating cash flows for the vessels and comparing them to the vessels' carrying values. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership's historical performance and expectations for the vessels' utilization under the current deployment strategy. Based on these assumptions, the Partnership determined that the undiscounted cash flows supported the vessels' carrying amounts as of December 31, 2013 and 2012.
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- Details
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| X | ||||||||||
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- Definition
The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisitions
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| Business Acquisitions (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Acquistions | 3. Acquisitions
a. Anax Container Carrier S.A. (M/V Hyundai Prestige)
On September 11, 2013, the Partnership acquired the shares of Anax Container Carrier S.A., the vessel owning company of the M/V Hyundai Prestige (renamed to M/V CCNI Angol) (“Anax”) from CMTC for a total consideration of $65,000 following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership was fixed on a twelve year time charter, with HMM. The time charter commenced in February 2013 and the earliest expiration date under the charter is in December 2024.
The Partnership accounted for the acquisition of Anax as an acquisition of a business. All assets and liabilities of Anax except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $65,000 was funded using a portion of the $75,000 that the Partnership had drawn down under its new loan facility (Note 7), part of the net proceeds from the issuance of 13,685,000 Partnership's Common Units in August 2013 (Note 13) and part of the Partnership's available cash.
There were no costs incurred in relation to the acquisition of Anax.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Anax and the gain from bargain purchase recorded as non operating income in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013 was calculated as follows:
After a subsequent review and reassessment of valuation methods and procedures of the $73,094 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $8,094 in its consolidated statements of comprehensive income / (loss), in accordance with Accounting Standard Codification (“ASC”) Subtopic 805-30 “Business Combinations, Goodwill or Gain from Bargain Purchase, Including Consideration Transferred” as of the Anax acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Anax which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed at and the market rate for a comparable charter as provided by independent third parties on the business combination date discounted at a WACC of approximately 11%.
Total revenues and net income of M/V Hyundai Prestige since its acquisition by the Partnership were $2,778 and $1,298 respectively and are included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisition of Hyundai Prestige occurred on February 19, 2013 (vessel inception):
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b. Thiseas Container Carrier S.A. (M/V Hyundai Privilege)
On September 11, 2013, the Partnership acquired the shares of Thiseas Container Carrier S.A., the vessel owning company of the M/V Hyundai Privilege (“Thiseas”) from CMTC for a total consideration of $65,000 following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership was fixed on a twelve year time charter, with HMM. The time charter commenced in May 2013 and the earliest expiration date under the charter is in April 2025.
The Partnership accounted for the acquisition of Thiseas as an acquisition of a business. All assets and liabilities of Thiseas except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $65,000 was funded using a portion of the $75,000 that the Partnership had drawn down under its new loan facility (Note 7), part of the net proceeds from the issuance of 13,685,000 Partnership's Common Units in August 2013 (Note 13) and part of the Partnership's available cash.
There were no costs incurred in relation to the acquisition of Thiseas.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Thiseas and the gain from bargain purchase recorded as non operating income in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013 was calculated as follows:
After a subsequent review and reassessment of valuation methods and procedures of the $73,329 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $8,329 in its consolidated statements of comprehensive income / (loss), in accordance with Accounting Standard Codification (“ASC”) Subtopic 805-30 “Business Combinations, Goodwill or Gain from Bargain Purchase, Including Consideration Transferred” as of the Thiseas acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Thiseas which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed at and the market rate for a comparable charter as provided by independent third parties on the business combination date discounted at a WACC of approximately 11%.
Total revenues and net income of M/V Hyundai Privilege since its acquisition by the Partnership were $2,785 and $1,392 respectively and are included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013.
.The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisition of Hyundai Privilege occurred on May 31, 2013 (vessel inception):
.
c. Cronus Container Carrier S.A. (M/V Hyundai Platinum)
On September 11, 2013, the Partnership acquired the shares of Cronus Container Carrier S.A., the vessel owning company of the M/V Hyundai Platinum) (“Cronus”) from CMTC for a total consideration of $65,000 following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership was fixed on a twelve year time charter, with HMM. The time charter commenced in June 2013 and the earliest expiration date under the charter is in April 2025.
The Partnership accounted for the acquisition of Cronus as an acquisition of a business. All assets and liabilities of Cronus except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $65,000 was funded using a portion of the $75,000 that the Partnership had drawn down under its new loan facility (Note 7), part of the net proceeds from the issuance of 13,685,000 Partnership's Common Units in August 2013 (Note 13) and part of the Partnership's available cash.
There were no costs incurred in relation to the acquisition of Cronus.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Cronus and the gain from bargain purchase recorded as non operating income in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013 was calculated as follows:
After a subsequent review and reassessment of valuation methods and procedures of the $73,358 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $8,358 in its consolidated statements of comprehensive income / (loss), in accordance with Accounting Standard Codification (“ASC”) Subtopic 805-30 “Business Combinations, Goodwill or Gain from Bargain Purchase, Including Consideration Transferred” as of the Cronus acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Cronus which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed at and the market rate for a comparable charter as provided by independent third parties on the business combination date discounted at a WACC of approximately 11%.
Total revenues and net income of M/V Hyundai Platinum since its acquisition by the Partnership were $2,786 and $1,357 respectively and are included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013.
.The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisition of Hyundai Platinum occurred on June 14, 2013 (vessel inception):
.
d. Hercules Container Carrier S.A. (M/V Hyundai Premium)
On March 20, 2013, the Partnership acquired the shares of Hercules Container Carrier S.A., the vessel owning company of the M/V Hyundai Premium (“Hercules”) from CMTC for a total consideration of $65,000 following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership was fixed on a twelve year time charter, with HMM. The time charter commenced in March 2013 and the earliest expiration date under the charter is in January 2025.
The Partnership accounted for the acquisition of Hercules as an acquisition of a business. All assets and liabilities of Hercules except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $65,000 was funded by $27,000 through a draw-down from the Partnership's $350,000 credit facility (Note 7), by $36,279 representing part of the net proceeds from the issuance of 9,100,000 Partnership's Class B Convertible Preferred Units in March 2013 (Note 13) and by $1,721 from the Partnership's available cash.
There were no costs incurred in relation to the acquisition of Hercules.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Hercules and the gain from bargain purchase recorded as non operating income in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013 was calculated as follows:
After a subsequent review and reassessment of valuation methods and procedures of the $73,707 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $8,707 in its consolidated statements of comprehensive income / (loss), in accordance with Accounting Standard Codification (“ASC”) Subtopic 805-30 “Business Combinations, Goodwill or Gain from Bargain Purchase, Including Consideration Transferred” as of the Hercules acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Hercules which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed at and the market rate for a comparable charter as provided by independent third parties on the business combination date discounted at a WACC of approximately 11%.
Total revenues and net income of M/V Hyundai Premium since its acquisition by the Partnership were $7,181 and $3,567 respectively and are included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013.
.The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisition of Hyundai Premium occurred on March 11, 2013 (vessel inception):
.
e. Iason Container Carrier S.A. (M/V Hyundai Paramount)
On 27 March 2013, the M/V Hyundai Paramount (“Iason”) was delivered to CMTC from a shipyard and on the same date the Partnership acquired the shares of Iason Container Carrier S.A., the vessel owning company of M/V Hyundai Paramount from CMTC for a total consideration of $65,000 following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. At the time of her acquisition by the Partnership the vessel was fixed on a twelve year time charter, with HMM. The time charter commenced in April 2013 and the earliest expiration date under the charter is in February 2025.
The Partnership accounted for the acquisition of Iason as an acquisition of a business. All assets and liabilities of Iason except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $65,000 was funded by $27,000 through a draw-down from the Partnership's $350,000 credit facility (Note 7), by $36,278 representing part of the net proceeds from the issuance of Partnership's Class B Convertible Preferred Units in March 2013 (Note 13) and by $1,722 from the Partnership's available cash.
There were no costs incurred in relation to the acquisition of Iason.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Iason and the gain from bargain purchase recorded as non operating income in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013 was calculated as follows:
.
After a subsequent review and reassessment of valuation methods and procedures of the $73,768 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $8,768 in its consolidated statements of comprehensive income / (loss), in accordance with ASC Subtopic 805-30 “Business Combinations, Goodwill or Gain from Bargain Purchase, Including Consideration Transferred” as of the Iason acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Iason which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed at and market rate for comparable charter as provided by independent third parties on the business combination date discounted at a WACC of approximately 11%.
Total revenues and net income of Hyundai Paramount since its acquisition by the Partnership were $6,732 and $3,220 respectively and included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2013.
There is no pro forma financial information available in relation to the acquisition of Iason as its vessel was under construction up to the date of her acquisition by the Partnership.
f. Agamemnon Container Carrier Corp. (M/V Agamemnon)
On December 22, 2012, the Partnership acquired the shares of Agamemnon Container Carrier Corp., the vessel owning company of the M/V Agamemnon, (“Agamemnon”), from CMTC in exchange for the shares of the Partnership's wholly owned subsidiary Achilleas Carriers Corp., the vessel owning company of the M/T Achilleas (“Achilleas”) following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership operated under a three year time charter, with Maersk. The time charter commenced in June 2012 and the earliest expiry is in July 2015. Maersk has the option to extend the charter for up to an additional four years. The acquisition of Agamemnon was deemed accretive to the Partnership's distributions.
The Partnership accounted for the acquisition of Agamemnon as an acquisition of a business. All assets and liabilities of Agamemnon except the vessel, necessary permits and time charter agreement, were retained by CMTC. Furthermore up to the date of the exchange of Achilleas Carriers Corp., all assets and liabilities of Achilleas, except the vessel, were retained by the Partnership. CMTC has also waived any compensation for the early termination of the charter of Achilleas. The purchase price of the acquisition has been allocated to the identifiable assets acquired.
The total purchase consideration of $70,250 is comprised of:
a) $68,875 representing the fair value of Achilleas, and;
b) $1,375 representing the cash consideration paid to CMTC by the Partnership.
Acquisition-related costs of approximately $5.0 are included in general and administrative expenses in the consolidated statements of comprehensive income / (loss) for the year ended December 31, 2012.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Agamemnon was calculated as follows:
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Agamemnon which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate and the market rate for a comparable charter on the business combination date discounted at the WACC of approximately 11%.
Total revenues and net income of Agamemnon since its acquisition by the Partnership were $318 and $185 respectively and included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2012.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.The following table summarizes total net revenues; net income / (loss) and net income / (loss) per common unit of the combined entity had the acquisition of Agamemnon occurred on January 1, 2011:
.
g. Archimidis Container Carrier Corp. (M/V Archimidis)
On December 22, 2012, the Partnership acquired the shares of Archimidis Container Carrier Corp., the vessel owning company of the M/V Archimidis, (“Archimidis”), from CMTC in exchange for the shares of the Partnership's wholly owned subsidiary Alexander The Great Carriers Corp., the vessel owning company of the M/T Alexander The Great (“Alexander The Great”) following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors. The vessel at the time of her acquisition by the Partnership operated under a three year time charter, with Maersk. The time charter commenced in November 2012 and the earliest expiry is in October 2015. Maersk has the option to extend the charter for up to an additional four years. The acquisition of Archimidis was deemed accretive to the Partnership's distributions.
The Partnership accounted for the acquisition of Archimidis as an acquisition of a business. All assets and liabilities of Archimidis except the vessel, necessary permits and time charter agreement, were retained by CMTC. Furthermore up to the date of the exchange of Alexander the Great Carriers Corp., all assets and liabilities of Alexander the Great, except the vessel, were retained by the Partnership. CMTC has also waived any compensation for the early termination of the charter of Alexander the Great. The purchase price of the acquisition has been allocated to the identifiable assets acquired.
The total purchase consideration of $67,250 is comprised of:
a) $68,875 representing the fair value of Alexander the Great and;
b) $1,625 representing the cash consideration the Partnership received by CMTC.
Acquisition-related costs of approximately $5.0 are included in general and administrative expenses in the consolidated statements of comprehensive income / (loss) for the year ended December 31, 2012.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Archimidis was calculated as follows:
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Archimidis which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate and market rate for comparable charter on the business combination date discounted at the WACC of approximately 11%.
Total revenues and net income of Archimidis since its acquisition by the Partnership were $321 and $178 respectively and included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2012.
The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:
The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.
The following table summarizes total net revenues; net (loss) / income and net (loss) / income per common unit of the combined entity had the acquisitions of Archimidis occurred on January 1, 2011:
.
h. Patroklos Marine Corp. (M/V Cape Agamemnon)
On June 9, 2011, the Partnership acquired the shares of Patroklos Marine Corp., the vessel owning company of the M/V Cape Agamemnon (“Patroklos”), from CMTC as it was deemed accretive to the Partnership's distributions by the board of directors. The vessel at the time of her acquisition by the Partnership operated under a ten year time charter, with Cosco Bulk Carrier Co. Ltd. (“COSCO Bulk”), an affiliate of the COSCO Group. The time charter commenced in July 2010 and the earliest expiry under the charter is in June 2020. The acquisition of Patroklos was unanimously approved by the Partnership's Board of Directors following the unanimous approval and recommendation of the Board's conflicts committee, which is comprised entirely of independent directors.
The Partnership accounted for the acquisition of Patroklos as an acquisition of a business. All assets and liabilities of Patroklos except the vessel, necessary permits and time charter agreement, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired, with the excess of the fair value of assets acquired over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $83,525 was funded by $1,470 from available cash, $25,000 through a draw down from the Partnership's credit facility with Credit Agricole Emporiki Bank and the remaining through the issuance of 6,958,000 Partnership's common units to CMTC at a price of $8.20 per unit as quoted on the Nasdaq Stock Exchange the date of the acquisition of Patroklos by the Partnership. Furthermore upon the acquisition of Patroklos, the Partnership issued another 142,000 of Partnership's common units. These units were converted into 142,000 of general partner units by the Partnership and delivered to Capital General Partner (“CGP”) in order for it to maintain its 2% interest in the Partnership. The Partnership received the amount of $1,470 in exchange for these general partner units.
Acquisition-related costs of approximately $409 are included in general and administrative expenses in the consolidated statements of comprehensive income / (loss) for the year ended December 31, 2011.
The allocation of the purchase price to acquired identifiable assets was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of identifiable assets of Patroklos and the gain from bargain purchase recorded as non operating income / (expense), net in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2011 was calculated as follows:
The gain from bargain purchase of $16,526 has resulted from the decline of the Partnership's common unit price as the 6,958,000 common units which were issued to CMTC were valued at $8.20 per unit as quoted on the Nasdaq Stock Exchange on the day of the acquisition of Patroklos, as compared to the Partnership's common unit price of $10.35 representing a value of Partnership's common unit on the day CMTC and the Partnership agreed on the purchase consideration, including the issuance of these common units.
After a subsequent review and reassessment of valuation methods and procedures of the $100,051 fair value amount for identifiable assets acquired, the Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. Therefore, the Partnership recorded a gain from bargain purchase of $16,526 in accordance with ASC Subtopic 805-30 as of the Patroklos acquisition date.
The following table sets forth the component of the identifiable intangible asset acquired with the purchase of Patroklos which is being amortized over its duration on a straight-line basis as a reduction of revenue:
The fair value of the above market time charter acquired was determined as the difference between the time charter rate and market rate for comparable charter on the business combination date discounted at the WACC of approximately 11%.
Total revenues and net income of Patroklos since its acquisition by the Partnership were $5,305 and $2,899 respectively and included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2011.
i. Crude
On September 30, 2011, the merger between the Partnership and Crude was successfully completed. The exchange ratio of this unit for share transaction was 1.56 Partnership's common units for each Crude share. The Partnership was the surviving entity in the merger and continued to be structured as a master limited partnership. This transaction was deemed accretive to the Partnership's distributions in the long term and it added to the balance sheet strength and financial flexibility of the Partnership.
The Crude acquisition has been accounted for using the acquisition method of accounting. Under the acquisition method of accounting, the total purchase price has been allocated to the all identifiable assets acquired and liabilities assumed with the excess of the fair value of assets acquired and liabilities assumed over the purchase price recorded as a gain from bargain purchase.
The total purchase consideration of $157,064 was comprised of:
a) $155,559 representing the value of 24,344,176 Partnership's common units that were issued to Crude's shareholders', based on the exchange ratio of 1.56 Partnership's common units for each Crude share, at a price of $6.39 per unit as quoted on the Nasdaq Stock Exchange on September 30, 2011 the day of the successful closing of the acquisition and;
b) $1,505 representing the fair value attributable to precombination services of Crude's Equity Incentive Plan awards at the closing of the merger on September 30, 2011. Crude's Equity Incentive Plan awards consisted of 399,400 of Crude's common shares which were also exchanged at a ratio of 1.56 into 623,064 Partnership's common units at the closing of the merger.
Furthermore at the closing of the acquisition of Crude the Partnership converted 499,346 of Partnership's common units held by CMTC into 499,346 general partner units and delivered to CGP in order for it to maintain its 2% interest in the Partnership. For these units there was no cash consideration paid to the Partnership.
Acquisition-related costs of approximately $4,225 were included in general and administrative expenses in the consolidated statements of comprehensive income / (loss) for the year ended December 31, 2011.
The allocation of the purchase price to all identifiable assets acquired and liabilities assumed was based on their estimated fair values at the date of acquisition.
The fair value allocated to each class of assets and liabilities of Crude and the gain from bargain purchase recorded as non operating income / (expense), net, in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2011 was calculated as follows:
The gain from bargain purchase of $65,927 has mainly resulted from:
After a subsequent review and reassessment of valuation methods and procedures of the $222,991 fair value amount for identifiable assets acquired and liabilities assumed, the Partnership concluded that its measurements for the identifiable assets acquired and liabilities assumed appropriately reflect consideration of all available information that existed as of the acquisition date. As a result of the merger and based on ASC Subtopic 805-30 the Partnership recorded a gain from bargain purchase of $65,927 in its consolidated statements of comprehensive income / (loss) as of the acquisition date.
Total revenues and net loss of Crude since its acquisition by the Partnership were $13,327 and $1,399 respectively and included in the Partnership's consolidated statements of comprehensive income / (loss) for the year ended December 31, 2011. |
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The entire disclosure for a business combination (or series of individually immaterial business combinations) completed during the period, including background, timing, and recognized assets and liabilities. The disclosure may include leverage buyout transactions (as applicable). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions With Related Parties
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Dec. 31, 2013
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| Transactions with Related Parties (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Transactions with Related Parties | 4. Transactions with Related Parties
The Partnership and its subsidiaries, have related-party transactions with the Manager, arising certain terms of the following three different types of management agreements.
(a) a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index;
(b) a sale & purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired/disposed by Crude; and
(c) a commercial services fee equal to 1.25% of all gross charter revenues generated by each vessel for commercial services rendered.
The Manager has the right to terminate the Crude management agreement and, under certain circumstances, could receive substantial sums in connection with such termination. As of March 2013 this termination fee had been adjusted to $9,654.
All the above three agreements constitute the “Management Agreements”.
Under the terms of the fixed fee management agreement, the Manager charged the Partnership for additional fees and costs, relating to insurances deductibles, vetting, and repairs and spares that related to unforeseen events. For the years ended December 31, 2013, 2012 and 2011 such fees amounted to $644, $1,850 and $1,237, respectively. The 2013 and 2011 charge includes the amounts of $330 and $710 that reflect the claim proceeds the Partnership received for the M/T Aristofanis and the M/T Attikos respectively.
On April 4, 2007, the Partnership entered into an administrative services agreement with the Manager, pursuant to which the Manager will provide certain administrative management services to the Partnership such as accounting, auditing, legal, insurance, IT, clerical, investor relations and other administrative services. Also the Partnership reimburses CGP for all expenses which are necessary or appropriate for the conduct of the Partnership's business. The Partnership reimburses the Manager and CGP for reasonable costs and expenses incurred in connection with the provision of these services after the Manager submits to the Partnership an invoice for such costs and expenses, together with any supporting detail that may be reasonably required. These expenses are included in general & administrative expenses in the consolidated statements of comprehensive income / (loss).
Balances and transactions with related parties consisted of the following:
(a) Manager - Payments on Behalf of Capital Product Partners L.P . : This line item includes the payments made by the Manager on behalf of the Partnership and its subsidiaries.
(b) Management fee payable to CSM : The amount outstanding as of December 31, 2013 and 2012 represents the management fee payable to CSM as a result of the Management Agreements the Partnership entered into with the Manager.
(c) Revenues: The following table includes information regarding the charter agreements were in place between the Partnership and CMTC during 2013 and 2012.
(d) General and administrative expenses: This line item mainly includes internal audit, investor relations and consultancy fees.
(e) Deferred Revenue: As of December 31, 2013 and 2012 the Partnership received cash in advance for revenue earned in a subsequent period from CMTC. |
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The entire disclosure for related party transactions. Examples of related party transactions include transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners; and (d) affiliates. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Vessels, net
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Dec. 31, 2013
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| Vessels | 5. Vessels, net
An analysis of vessels is as follows:
All of the Partnership's vessels as of December 31, 2013 have been provided as collateral to secure the Partnership's credit facilities.
On November 28, 2013, the Company acquired the M/T Aristarchos (renamed M/T Aristotelis), a 51,604 dwt eco type medium range product tanker built in 2013, from an unrelated third party, for a total consideration of $38,141 including initial expenses of $111. The acquisition price was funded from the selling proceeds of the M/T Agamemnon II and from the Partnership's available cash.
On November 5, 2013, the Company disposed the M/T Agamemnon II a 51,238 dwt chemical tanker built in 2008 for net proceeds of $32,192 to an unrelated third party. The Partnership realized a net loss on this disposal of $7,073 as the carrying value of the vessel at the time of her disposal was $38,923. This net loss is presented in the Partnership's consolidated statements of comprehensive income / (loss) as “Loss / (gain) on sale of vessels to third parties”. For the year ended December 31 2013, the Partnership has unpaid expenses relating to this sale of $343
On September 11, 2013, the Company acquired the shares of Anax Container Carrier S.A., the vessel owning company of the M/V Hyundai Prestige renamed to CCNI Angol, Thiseas Container Carrier S.A., the vessel owning company of the M/V Hyundai Privilege and Cronus Container Carrier S.A., the vessel owning company of the M/V Hyundai Platinum (Note 3). The vessels were recorded in the Partnership's financial statements at their respective fair values of $54,000 each as quoted by independent brokers at the time of their acquisition by the Partnership
On March 20 and March 27, 2013, the Company acquired the shares of Hercules Container Carrier S.A., the vessel owning company of M/V Hyundai Premium, and Iason Container Carrier S.A., the vessel owning company of the M/V Hyundai Paramount, respectively (Note 3). The vessels were recorded in the Partnership's financial statements at their respective fair values of $54,000 each as quoted by independent brokers at the time of their acquisition by the Partnership.
On December 22, 2012, the Partnership acquired the shares of the vessel owning companies of two post panamax container carrier vessels the M/V Agamemnon and the M/V Archimidis from CMTC in exchange of the shares of the vessel owning companies of two very large crude carrier vessels the M/T Achilleas and the M/T Alexander The Great respectively (Note 3). The M/V Agamemnon and the M/V Archimidis have been recorded in the Partnership's financial statements at their fair value as quoted by independent brokers at the time of the acquisition of $68,000 and $65,000 respectively.
In relation to the transaction described above the Partnership recorded an impairment charge of $43,178 which represents the difference between the carrying value of the M/T Achilleas and the M/T Alexander the Great of $180,928 and the fair market value of these vessels of $137,750 as quoted by independent brokers and is presented as “Vessels' impairment charge” in the Partnership's consolidated statements of comprehensive income / (loss). The vessel-owning companies of the M/T Achilleas and the M/T Alexander the Great were deconsolidated from the Partnership accounts as of the date of their disposal to CMTC. Results of operations, cash flows, and assets and liabilities of these vessels prior to their disposal to CMTC are included in the Partnership's consolidated financial statements.
On April 4, 2012 the Company disposed the M/T Aristofanis, a 12,000 dwt, chemical tanker built in 2005 for net proceeds of $9,867, to an unrelated third party. The Partnership realized a net gain on this disposal of $353 as the carrying value of the vessel at the time of her disposal was $9,514.
On February 14, 2012 the Company disposed the M/T Attikos, a 12,000 dwt chemical tanker built in 2005 for net proceeds of $9,807, to an unrelated third party. The Partnership realized a net gain on this disposal of $943 as the carrying value of the vessel at the time of her disposal was $8,864.
During 2012 the M/T Avax, M/T Axios, M/T Akeraios, M/T Apostolos, M/T Anemos and M/T Atrotos (renamed El Pipila) underwent improvements following their respective first special survey. These costs for these six vessels amounted to $105 and were capitalized as part of the respective vessels' historic cost. |
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The entire disclosure of vessels that are used in the normal conduct of business and not intended for resale. The disclosure may include, but not limited to, vessel additions, disposals, impairment and depreciation. No definition available.
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Above Market Acquired Charters
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Dec. 31, 2013
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| Above market acquired charters | 6. Above market acquired charters
On September 11, 2013 the Partnership acquired the shares of Anax Container Carrier S.A., Thiseas Container Carrier S.A. and Cronus Container Carrier S.A., the vessel owning companies of the M/V Hyundai Prestige renamed to CCNI Angol, M/V Hyundai Privilege, and M/V Hyundai Platinum, respectively, from CMTC with outstanding time charters to Hyundai which were above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charters were estimated by the Partnership at $19,094, $19,329 and $19,358, respectively, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).
On March 20 and March 27, 2013 the Partnership acquired the shares of Hercules Container Carrier S.A. and Iason Container Carrier S.A., the vessel owning companies of M/V Hyundai Premium and M/V Hyundai Paramount, respectively, from CMTC with outstanding time charters to Hyundai which were above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charters were estimated by the Partnership at $19,707 and $19,768, respectively, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).
In December 22, 2012 the Partnership acquired the shares of Agamemnon and Archimidis, from CMTC with outstanding time charters to Maersk which were above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charters were estimated by the Partnership at $2,250 each, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).
In June 2011 the Partnership acquired the shares of Patroklos, the vessel-owning company of M/V Cape Agamemnon from CMTC with an outstanding time charter to COSCO Bulk terminating in June, 2020, which was above the market rates for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charter was estimated by the Partnership at $48,551, and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3).
For the years ended December 31, 2013, 2012 and 2011 revenues included a reduction of 13,594, $7,904 and $5,489 as amortization of the above market acquired charters, respectively.
An analysis of above market acquired charters is as follows:
As of December 31, 2013 the remaining carrying amount of unamortized above market acquired time and bare-boat charters was $131,382 and will be amortized in future years as follows:
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The entire disclosure for above market acquired charters. No definition available.
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Long-Term Debt
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Dec. 31, 2013
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| Long-Term Debt (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt | 7. Long-Term Debt
Long-term debt consists of the following:
As at December 31, 2013, the amounts drawn down under the Partnership's four credit facilities were as follows:
In September 2013 the Partnership entered into a new senior secured credit facility of up to $200,000, which was amended in December, 2013 to upsize it up to $225,000, led by ING Bank N.V. in order to partly finance the acquisition cost of certain vessels. The facility is divided in two tranches. Tranche A consisted of $75,000 which was drawn down on September 11, 2013, in order to part finance the acquisition cost of the shares of Anax Container Carrier S.A., Cronus Container Carrier S.A. and Thiseas Container Carrier S.A. that were the owning companies of the 2013-built 5,000 TEU container vessels “Hyundai Prestige” (renamed to “CCNI Angol”), “Hyundai Privilege” and “Hyundai Platinum” respectively (Note 3). Tranche B, consisted of $150,000, which will be available in multiple advances in order to finance up to 50% of the acquisition cost of certain additional ships or to finance the cost of acquiring the issued share capital of an additional vessel owning company. As of December 31, 2013 the Partneship had not drawn down any amount of Tranche B. The facility is repayable in twenty consecutive quarterly installments, beginning in March 2016, in the amount that provides for the overall thirteen and sixteen year repayment profiles on sub facilities A (Tranche A) and B (Tranche B) respectively, after adjustment for the security vessel age at acquisition date and availability period.
All amounts outstanding, including the balloon payment, will become due and payable in December 2020. The facility bears interest at LIBOR plus a margin of 3.50% and commitment fees of 1.0%.
In November, 2013 the Partnership amended its credit facility of $370,000 in order to replace the M/T Agamemnon II which was sold on November 5, 2013 (Note 5) with the M/T Aristotelis as a security.
In March, 2013, the Partnership's credit facility of $350,000 was converted into a term loan, and the undrawn amount of $1,420 was cancelled.
On March 20, and March 27, 2013, the Partnership had drawn in total the amount of $54,000 from the undrawn portion of its $350,000 credit facility in order to partly finance the acquisition of the vessel owning companies of the M/V Hyundai Premium and the M/V Hyundai Paramount respectively (Note 3). The amount of $54,000 is payable in twenty equal consecutive quarterly installments of $1,350 commencing in June 2013 plus a balloon payment of $27,000 in March 2018.
Following the exchange of the M/T Achilleas with the M/V Agamemnon and the M/T Alexander the Great with the M/V Archimidis in December 2012, the Partnership prepaid from its available cash the amount of $5,149 and the M/V Archimidis and the M/V Agamemnon replaced the M/T Alexander the Great and the M/T Achilleas as collateral under its credit facility of $350,000.
Following the issuance of Class B Convertible Preferred Units in May and June 2012 (Note 13), the Partnership prepaid debt of $149,566 across its three credit facilities by using in full the net proceeds of the issuance of $136,419 and an amount of $13,147 from its available cash. Following the debt repayment of $149,566, on May 23, 2012 the Partnership's credit facilities were amended: a) The new amortization schedule will commence in March 2016 b) the margin of the credit facility of $370,000 and $350,000 has increased to 2% and 3% respectively and c) the Partnership's credit facility of $370,000 was converted into a term loan, and the undrawn tranche of $52,500 relating to the credit facility of $350,000 was cancelled.
The Partnership's loan of $370,000 will be repaid in 6 equal consecutive quarterly installments of $12,975 commencing in March, 2016 plus a balloon payment due in June, 2017. The Partnership's credit facilities of $350,000 and $25,000 will be repaid in 9 equal consecutive quarterly installments of $7,855 and $1,000 respectively commencing in March, 2016 plus a balloon payment for each facility due in March, 2018.
On April 4, 2012, an amount of $10,500 was repaid on the Partnership's revolving credit facility of $370,000, from the proceeds of the disposal of its vessel M/T Aristofanis.
On February 15, 2012, an amount of $10,000 was repaid on the Partnership's revolving credit facility of $370,000, from the proceeds of the disposal of its vessel M/T Attikos.
The Partnership's credit facilities contain customary ship finance covenants, including restrictions as to: changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness, the mortgaging of vessels, the ratio of EBITDA to Net Interest Expenses shall be no less than 2:1, minimum cash requirement of $500 per vessel, as well as the ratio of net Total Indebtedness to the aggregate Market Value of the total fleet shall not exceed 0.725:1. The credit facilities also contain the collateral maintenance requirement in which the aggregate average fair market value, of the collateral vessels shall be no less than 125% of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2013 and 2012 the Partnership was in compliance with all financial debt covenants.
The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective vessel or vessels. Each also requires additional security, including: pledge and charge on current account; corporate guarantee from each of the thirty vessel-owning companies, and mortgage interest insurance.
The Partnership's credit facilities contain a “Market Disruption Clause” where the lenders, at their discretion, may impose additional interest margin if their borrowing rate exceeds effective interest rate (LIBOR) stated in the loan agreement with the Partnership. For the years ended December 31, 2013, 2012 and 2011 the Partnership incurred an additional interest expense in the amount of $0, $373 and $1,290 respectively due to the “Market Disruption Clause”.
For the years ended December 31, 2013, 2012 and 2011, the Partnership recorded interest expense of $14,982, $25,788 and $32,216, respectively. As of December 31, 2013 and 2012 the weighted average interest rate of the Partnership's loan facilities was 2.81% and 3.11%, respectively.
The required annual loan payments to be made subsequent to December 31, 2013 are as follows:
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- Definition
The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Derivative Instruments
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Dec. 31, 2013
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| Derivative Instruments (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative Instruments | 8. Derivative Instruments
The Partnership had entered into fourteen interest rate swap agreements in order to mitigate the exposure from interest rate fluctuations. Nine of the Partnership's interest rate swap agreements under its $370,000 credit facility expired as of June 29, 2012 and one was terminated upon the disposal of the M/T Attikos and the M/T Aristofanis. During the year ended December 31, 2012, the Partnership terminated one interest rate swap agreement in full and one partially under its $350,000 credit facility. During the year ended December 31, 2013, the Partnership's three remaining swaps with a notional amount of $59,084 expired.
All derivatives are carried at fair value on the consolidated balance sheet at each period end. Balances as of December 31, 2013 and December 31, 2012 are as follows:
Tabular disclosure of financial instruments is as follows:
The table below shows the effective portion of the hedging relationship of the Partnership's derivatives designated as hedging instruments recognized in Other Comprehensive Income (“OCI”), the realized losses from net interest rate settlements transferred from OCI into the Partnership's consolidated statements of comprehensive income / (loss) and the amounts recognized in the consolidated statements of comprehensive income / (loss) arising from the hedging relationships not qualifying for hedge accounting for the years ended December 31, 2013, 2012 and 2011, respectively:
The Partnership follows the accounting guidance for derivative instruments that establishes a framework for measuring fair value in generally accepted accounting principles, and expands disclosure about fair value measurements. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:
Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;
Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly;
Level 3: Inputs are unobservable inputs for the asset or liability.
The Partnership's interest rate swap agreements, entered into pursuant to its loan agreements, are based on LIBOR swap rates. LIBOR swap rates are observable at commonly quoted intervals for the full terms of the swaps and therefore are considered Level 2 items. The fair values of the interest rate swap determined through Level 2 of the fair value hierarchy are derived principally from or corroborated by observable market data. Inputs include quoted prices for similar assets, liabilities (risk adjusted) and market-corroborated inputs, such as market comparable, interest rates, yield curves and other items that allow value to be determined. Fair value of the interest rate swaps is determined using a discounted cash flow method based on market-base LIBOR swap yield curves.
The fair value of the Partnership's interest rate swaps is the estimated value of the swap agreements at the reporting date, taking into account current interest rates and the forward yield curve and the creditworthiness of the Partnership and its counterparties.
Since March 31, 2012 and May 23, 2012 two out of three interest rate swaps did not qualify as cash flow hedges and the changes in their fair value was recognized in the consolidated statements of comprehensive income / (loss) whilst the third interest rate swap agreement qualified as a cash flow hedge and the changes in its fair value is recognized in accumulated other comprehensive income / (loss). As a result the amount of $1,400 and $50, which was part of the Partnership's accumulated other comprehensive income / (loss) (“OCL”) as of March 31, 2012 and May 23, 2012 respectively, were attributable to the two ineffective hedges and were being amortized over their respective remaining term up to their maturity date March 27, 2013 and March 28, 2013, respectively in the Partnership's consolidated statements of comprehensive income by using the effective interest rate method.
The net result of the accumulated OCL amortization and the change of the fair value of certain interest rate swap agreements of $4, $1,448 and $2,310 is presented under other non operating income (expense) net as a “Gain on interest rate swap agreement” in the Partnership's consolidated statements of comprehensive income/(loss)for the years ended December 31, 2013, 2012 and 2011, respectively. |
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The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Accrued Liabilities
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Dec. 31, 2013
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| Accrued Liabilities | 9. Accrued Liabilities
Accrued liabilities consist of the following:
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The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Voyage Expenses and Vessel Operating Expenses
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Dec. 31, 2013
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| Voyage Expenses And Vessel Operating Expenses (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Voyage Expenses And Vessel Operating Expenses | 10. Voyage Expenses and Vessel Operating Expenses
Voyage expenses and vessel operating expenses consist of the following:
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The entire disclosure for voyage and vessel operating expenses relating to the operation and maintenance of the vessels, which are not separately disclosed in the income statement. No definition available.
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Income Taxes
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12 Months Ended |
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Dec. 31, 2013
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| Income Taxes (Abstract) | |
| Income Taxes | 11. Income Taxes
Under the laws of the Marshall Islands, the country in which the vessel-owning subsidiaries were incorporated, these companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes in the country in which the vessels are registered and managed from, which have been included in vessel operating expenses in the accompanying consolidated statements of comprehensive income / (loss).
Pursuant to Section 883 of the United States Internal Revenue Code (the “Code”) and the regulations thereunder, a foreign corporation engaged in the international operation of ships is generally exempt from U.S. federal income tax on its U.S.-source shipping income if the foreign corporation meets both of the following requirements: (a) the foreign corporation is organized in a foreign country that grants an “equivalent exemption” to corporations organized in the United States for the types of shipping income (e.g., voyage, time, bareboat charter) earned by the foreign corporation and (b) more than 50% of the voting power and value of the foreign corporation's stock is “primarily and regularly traded on an established securities market” in the United States and certain other requirements are satisfied (the “Publicly-Traded Test”).
The jurisdictions where the Partnership's vessel-owning subsidiaries are incorporated each grants an “equivalent exemption” to United States corporations with respect to each type of shipping income earned by the Partnership's ship-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be established securities market. The Partnership has satisfied the Publicly-Traded Test for the years ended December 31, 2013, 2012 and 2011 and the ship-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income. |
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The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Cash Flow
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Dec. 31, 2013
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| Cash Flow (Table Text Block) | 12. Cash Flow
On September 30, 2011 the acquisition of Crude was successfully completed (Note 3). As the merger agreement with Crude was a unit for share transaction no cash consideration was paid and thus the following assets and liabilities of Crude acquired in a non-cash transaction are not included into the Partnership's consolidated statement of cash flows for the year ended December 31, 2011.
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The entire disclosure for supplemental cash flow activities, including cash, noncash, and part noncash transactions, for the period. Noncash is defined as information about all investing and financing activities of an enterprise during a period that affect recognized assets or liabilities but that do not result in cash receipts or cash payments in the period. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners' Capital
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Dec. 31, 2013
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| Partners' Capital | 13. Partners' Capital
General: The partnership agreement requires that within 45 days after the end of each quarter, beginning with the quarter ending June 30, 2007, all of the Partnership's available cash will be distributed to unitholders.
Definition of Available Cash: Available Cash, for each fiscal quarter, consists of all cash on hand at the end of the quarter:
General Partner Interest and Incentive Distribution Rights: The General Partner has an approximate 2% interest in the Partnership as well as the incentive distribution rights. In accordance with Section 5.2(b) of the Partnership Agreement, upon the issuance of additional units by the Partnership, the general partner may elect to make a contribution to the Partnership to maintain its 2% interest.
Incentive distribution rights represent the right to receive an increasing percentage of quarterly distributions of available cash from operating surplus after the minimum quarterly distribution and the target distribution levels have been achieved. The Partnership's general partner as of December 31, 2013, 2012 and 2011 holds the incentive distribution rights.
The following table illustrates the percentage allocations of the additional available cash from operating surplus among the unitholders and general partner up to the various target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of the unitholders and general partner in any available cash from operating surplus that is being distributed up to and including the corresponding amount in the column “Total Quarterly Distribution Target Amount,” until available cash from operating surplus we distribute reaches the next target distribution level, if any. The percentage interests shown for the unitholders and general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution.
Distributions of Available Cash From Operating Surplus After the Subordination Period: Our Partnership agreement requires that we will make distributions of available cash from operating surplus for any quarter after the subordination period in the following manner:
In August 2013, the Partnership completed successfully an equity offering of 13,685,000 common units, including 1,785,000 common units representing the overallotment option which was fully exercised, at a net price of $9.25 per common unit, receiving proceeds of $120,696 after the deduction of the underwriters' commissions. After the deduction of expenses relating to this equity offering the net proceeds of this offering amounted to $119,811. The net proceeds were used to partially fund the acquisition cost of the vessel owning companies of the M/V Hyundai Prestige, the M/V Hyundai Privilege and the M/V Hyundai Platinum from CMTC (Note 3). CMTC participated in both the offering and the exercise of the over-allotment option and purchased 279,286 units at the public offering price, subsequently, in August 2013, converting 349,700 common units into general partner units in order CGP to maintain its 2% interest in the Partnership.
During 2013 various investors' holders of Class B Convertible Preferred Units converted 5,733,333 Class B Convertible Preferred Units into common units.
On March 15, 2013 the Partnership entered into a Class B Convertible Preferred Unit Subscription Agreement (the “Agreement”) in order to issue 9,100,000 Class B Convertible Preferred Units at a price of $8.25 per Class B Convertible Preferred Unit to a group of investors including among others Kayne Anderson Capital Advisors L.P., Oaktree Capital Management L.P. and CMTC. The Partnership used the net proceeds of $72,557 to partially fund the acquisition of the vessel owning companies of the M/V Hyundai Premium and the M/V Hyundai Paramount from CMTC (Note 3).
On May 23, and June 6, 2012 the Partnership entered into a Class B Convertible Preferred Unit Subscription Agreement (the “Agreement”) with various investors. According to this Agreement the Partnership issued 15,555,554 Class B Convertible Preferred Units to a group of investors including Kayne Anderson Capital Advisors L.P., Swank Capital LLC, Salient Partners, Spring Creek Capital LLC, Mason Street Advisors LLC and CMTC for net proceeds of $136,419. The Partnership used the net proceeds to prepay part of its debt (Note 7). The holders of the Class B Convertible Preferred Units have the right to convert all or a portion of such Class B Convertible Preferred Units at any time into Common Units at the conversion price of $9 per Class B Convertible Preferred Unit and a conversion rate of one Common Unit per one Class B Convertible Preferred Unit. The Conversion Ratio and the Conversion Price shall be adjusted upon the occurrence of certain events as described to the Agreement.
Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (“VWAP”) and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the “Partnership Mandatory Conversion Event”) the Partnership acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full board of directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio.
The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership's board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to this Agreement in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day.
Any distribution payable on the Class B Convertible Preferred Units for any partial quarter (other than the initial distribution payable on the Class B Convertible Preferred Units for the period from May 22, 2012 through June 30, 2012 that equals to $0.26736 for each Class B Convertible Preferred Unit ) shall equal the product of the minimum quarterly Class B Convertible Preferred Unit distribution rate of $0.21375 (equals to a 9.5% annual distribution rate, subject to adjustment in the cases where clause of change of control, and/or clause of cross default provisions of the “Agreement” applies).
No distribution on the Class B Convertible Preferred Units shall be authorized by the board of directors or declared or paid or set apart for payment by the Partnership at such time as the terms and provisions of any agreement of the Partnership, including any agreement relating to its indebtedness, prohibits such authorization, declaration, payment or setting apart for payment or provides that such authorization, declaration, payment or setting apart for payment would constitute a breach thereof, or a default thereunder, or if such authorization, declaration, payment or setting apart for payment shall be restricted or prohibited by law. The foregoing, distributions with respect to the Class B Convertible Preferred Units shall accumulate as of the Class B Convertible Preferred Unit distribution payment date on which they first become payable whether or not any of the foregoing restrictions in above exist, whether or not there is sufficient Available Cash for the payment thereof and whether or not such distributions are authorized. A cumulative Class B Convertible Preferred Unit arrearage shall not bear interest and holders of the Class B Convertible Preferred Units shall not be entitled to any distributions, whether payable in cash, property or Partnership Interests, in excess of the then cumulative Class B Convertible Preferred Unit arrearage plus the minimum quarterly Class B Convertible Preferred Unit distribution rate for such quarter.
With respect to Class B Convertible Preferred Units that are converted into Common Units, the holder thereof shall not be entitled to a Class B Convertible Preferred Unit distribution and a Common Unit distribution with respect to the same period, but shall be entitled only to the distribution to be paid based upon the class of Units held as of the close of business on the record date for the distribution in respect of such period; provided , however , that the holder of a converted Class B Convertible Preferred Unit shall remain entitled to receive any accrued but unpaid distributions due with respect to such Unit on or as of the prior Class B Convertible Preferred Unit distribution payment date; and provided, further , that if the Partnership exercises the Partnership Mandatory Conversion Right to convert the Class B Convertible Preferred Units pursuant to this Agreement then the holders' rights with respect to the distribution for the Quarter in which the Partnership Mandatory Conversion Notice is received is as set forth in this Agreement.
As of December 31, 2013 and 2012 our partners' capital included the following units:
During the years ended December 31, 2013, 2012 and 2011, the Partnership declared and paid dividends amounting to $88,241, $73,316 and $45,116, respectively. |
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The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Omnibus Incentive Compensation Plan
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Dec. 31, 2013
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| Omnibus Incentive Compensation Plan | 14. Omnibus Incentive Compensation Plan
a. Partnership's Omnibus Incentive Compensation Plan
On April 29, 2008, the board of directors approved the Partnership's Omnibus Incentive Compensation Plan (the “Plan”) according to which the Partnership may issue a limited number of awards, not to exceed 500,000 units. The Plan was amended on July 22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 800,000. The Plan is administered by the General Partner as authorized by the board of directors. The persons eligible to receive awards under the Plan are officers, directors, and executive, managerial, administrative and professional employees of the Manager, or CMTC, or other eligible persons (collectively, “key persons”) as the General Partner, in its sole discretion, shall select based upon such factors as it deems relevant. Members of the board of directors are considered to be employees of the Partnership (“Employees”) for the purposes of recognition of equity compensation expense, while employees of the Manager, CMTC and other eligible persons under the plan are not considered to be employees of the Partnership (“Non-Employees”). Awards may be made under the Plan in the form of incentive stock options, non-qualified stock options, stock appreciation rights, dividend equivalent rights, restricted stock, unrestricted stock, restricted stock units and performance shares.
On August 25 and 31, 2010 CGP awarded 448,000 and 347,200 unvested units to Employees and Non-Employees, respectively. Awards granted to certain Employees vest in three equal annual installments. The remaining awards vested on August 31, 2013.
All unvested units were conditional upon the grantee's continued service as Employee and/or Non-Employee until the applicable vesting date.
The unvested units accrued distributions as declared and paid which were retained by the custodian of the Plan until the vesting date at which were payable to the grantee. As unvested unit grantees accrued distributions on awards that were expected to vest, such distributions were charged to Partner's capital.
b. Crude's Equity Incentive Plan
On March 1, 2010 Crude adopted an equity incentive plan according to which Crude issued 399,400 shares out of 400,000 restricted shares that were authorized. Members of the board of directors were considered to be employees of Crude (“Employees”), while employees of Crude's affiliates and other eligible persons under this plan were not considered to be employees of Crude (“Non-Employees”). Awards granted to certain Employees vest in three equal annual installments. The remaining awards vested on August 31, 2013.
All unvested units were conditional upon the grantee's continued service as Employee and/or Non-Employee until the applicable vesting date.
The unvested units accrued distributions as declared and paid which were retained by the custodian of the Plan until the vesting date at which were payable to the grantee. As unvested shares grantees accrued dividends on awards that were expected to vest, such dividends were charged to Stockholders' equity prior to Crude's acquisition and were charged to the Partner's capital subsequently to the acquisition.
c. Acquisition of Crude by the Partnership
Upon the completion of the acquisition of Crude by the Partnership on September 30, 2011, the Crude's Equity Incentive Plan existing that date was incorporated into the Partnership's Plan at a ratio of 1.56 common Partnership's unit for each Crude share. The 205,000 unvested shares of Crude's Employee award converted to 319,800 Partnership's unvested units and the 194,400 unvested shares of Crude's Non-Employee award converted to 303,264 Partnership's unvested units. The terms and conditions of both plans are significantly the same and remained unchanged after the acquisition, with the exception of 20,000 Crude shares, which were converted to 31,200 Partnership's units upon the completion of the acquisition. These Crude shares were held by those members of the Crude's Independent Committee who were not designated by Crude to serve as a member of the Partnership board of directors and were vested in full immediately upon the consummation of the acquisition on September 30, 2011.
For the year ended December 31, 2013, 2012, and 2011 the equity compensation expense that has been charged in the consolidated statements of comprehensive income / (loss) was $1,216, $1,834 and $1,358 for the Employee awards and $2,312, $1,992 and $1,097 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses for each respective year.
The Partnership has used the straight-line method to recognize the cost of the awards. |
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The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income / (Loss) Per Unit
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Dec. 31, 2013
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| Net (Loss)/ Income Per Unit | 15. Net Income / (Loss) Per Unit
The general partner's, common unit holders' and subordinated unitholders' interests in net income are calculated as if all net income for periods subsequent to April 4, 2007, were distributed according to the terms of the Partnership's Agreement, regardless of whether those earnings would or could be distributed. The Partnership Agreement does not provide for the distribution of net income; rather, it provides for the distribution of available cash (Note 13), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves established by the Partnership's board of directors to provide for the proper resources for the Partnership's business. Unlike available cash, net income is affected by non-cash items. The Partnership follows the guidance relating to the Application of the Two-Class Method and its application to Master Limited Partnerships which considers whether the incentive distributions of a master limited partnership represent a participating security when considered in the calculation of earnings per unit under the Two-Class Method.
This guidance also considers whether the partnership agreement contains any contractual limitations concerning distributions to the incentive distribution rights that would impact the amount of earnings to allocate to the incentive distribution rights for each reporting period.
Under the Partnership Agreement, the holder of the incentive distribution rights in the Partnership, which is currently the CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions after the minimum quarterly distribution (Note 13).
Excluding the non-cash gain from bargain purchase for the years ended December 31, 2013 and 2011 and vessels' impairment charge for the year ended December 31, 2012, as these were not distributed to the Partnership's unit holders the Partnership's net income for the respective years did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP's interest in net income.
All common unit equivalents were antidilutive for the year ended December 31, 2012 because the limited partners were allocated a net loss in this period. The Partnership excluded the dilutive effect of 1,187,130 non-vested unit awards in calculating dilutive EPU for its common unitholders as of December 31, 2011 as they were anti-dilutive. The non-vested units are participating securities because they received distributions from the Partnership and these distributions did not have to be returned to the Partnership if the non-vested units were forfeited by the grantee.
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Gain on sale of claim
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Dec. 31, 2013
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| Gain on sale of claim (Abstract) | |
| Gain on sale of claim | 16. Gain on sale of claim
On November 14, 2012, OSG and certain of its subsidiaries made a voluntary filing for relief under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the "Bankruptcy Court"). The Partnership had three IMO II/III Chemical/Product tankers (M/T Alexandros II, M/T Aristotelis II and M/T Aris II) or (the “Vessels”), all built in 2008 by STX Offshore & Shipbuilding Co. Ltd. with long term bareboat charters to subsidiaries of OSG (“Original Charter Contracts” or “Rejected Charters”).
After discussions with OSG, the Partnership agreed to enter into new charter contracts (“New Charter Contracts”) with OSG on substantially the same terms as the Original Charter Contracts, but at a bareboat rate of $6.3 per day per vessel instead of $13.0 per day per vessel as per the Original Charter Contracts. The new charters were approved by the Bankruptcy Court on March 21, 2013 and were effective as of March 1, 2013. On the same date, the Bankruptcy Court also rejected the Original Charter Contracts as of March 1, 2013. Rejection of each charter constitutes a material breach of such charter. On May 24, 2013, the Partnership filed claims (the "Claims") against each of the charterers and their respective guarantors for damages resulting from the rejection of each of the Original Charter Contracts, including, among other things, the difference between the reduced amount of the New Charter Contracts and the amount due under each of the Rejected Charters. The total claim amount of the three claims stood at $54,096 (“Total Claim Amount”).
The Partnership unconditionally and irrevocably sold, transferred and assigned to Deutsche Bank, 100% of its right, title, interest, claims and causes of action in and to arising in connection with all three of the claims that the vessel-owning subsidiaries have against OSG, via Assignment Agreements signed on June 25, 2013, thus releasing the Partnership of any payments or distributions of money or property in respect of the claim to be delivered or made to Deutsche Bank. In connection with the Assignment Agreements, on July 2, 2013, Deutsche Bank filed with the Bankruptcy Court six separate Evidences of Transfer of Claim, each pertaining to the Partnership's vessel-owning subsidiaries' claims against each charterer party to the original three charter agreements and each respective guarantor thereof.
On June 26, 2013 pursuant to the Assignment Agreements, the Partnership received from Deutsche Bank an amount of $32,000 as part payment for the assignment of the three claims. On December 18, 2013 the Partnership and Deutsche Bank entered into a Settlement Notice and Refund Modification Agreement according to which the maximum amount to be refunded to Deutsche Bank will be $644 which is presented under “Accrued liabilities” in the Partnership's consolidated Balance Sheets.
Consequently, the Partnership has recorded the amount of $31,356 which represents the difference between the proceeds of $32,000 the Partnership received by Deutsche Bank and the maximum amount to be refunded to Deutsche Bank of $644, as “Gain on sale of claim” in its consolidated statement of comprehensive income / (loss). |
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Tabular disclosure of gain on sale of claim. No definition available.
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Commitments And Contingencies
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Dec. 31, 2013
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| Commitments and Contingencies | 17. Commitments and Contingencies
Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Partnership's vessels. The Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements.
The Partnership accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, the Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the consolidated financial statements.
An estimated loss from a contingency should be accrued by a charge to expense and a liability recorded only if all of the following conditions are met:
Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancelable long-term time and bareboat charter contracts, as of December 31, 2013 were:
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The entire disclosure for commitments and contingencies. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Subsequent Events
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Dec. 31, 2013
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| Subsequent Events | 18. Subsequent Events
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- Definition
The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Significant Accounting Policies (Policy)
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Revenues are recorded over the term of the charter as service is provided and recognized on a pro-rata basis over the duration of the voyage.
All of the Partnership's time charters and bareboat charters are classified as operating leases. Revenues under operating lease arrangements are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee, and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective time or bareboat charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned. Deferred revenue represents cash received in advance of being earned. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long term liability.
Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of commissions, port expenses, canal dues and bunkers. Commissions are expensed over the related charter period and all the other voyage expenses are expensed as incurred. Under the Partnership's time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer, with the exception of Overseas Shipholding Group Inc. bareboat charter agreements and the exception of the M/T Agamemnon II and the M/T Ayrton II time charter agreements where the charterer is responsible for the commissions. For voyage charters all voyage expenses are paid by the Partnership.
Vessel operating expenses presented in the consolidated financial statements mainly consisted of:
Vessel operating expenses are expensed as incurred. |
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| Impairment of Long-Lived Assets |
In recent years market conditions as compared to previous years have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its assets. The Partnership has performed an undiscounted cash flow test based on US GAAP as of December 31, 2013 and 2012, determining undiscounted projected net operating cash flows for the vessels and comparing them to the vessels' carrying values. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership's historical performance and expectations for the vessels' utilization under the current deployment strategy. Based on these assumptions, the Partnership determined that the undiscounted cash flows supported the vessels' carrying amounts as of December 31, 2013 and 2012. |
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Disclosure of accounting policy for net income per limited partner unit. No definition available.
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Disclosure of accounting policy for other comprehensive income. No definition available.
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Entity's cash and cash equivalents accounting policy with respect to restricted balances, related to compliance to debt covenants. No definition available.
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Disclosure of accounting policy regarding recognition of voyage revenue and voyage and operating expenses. No definition available.
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Disclosure of accounting policy for vessels. No definition available.
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Disclosure of accounting policy for cash and cash equivalents, including the policy for determining which items are treated as cash equivalents. Other information that may be disclosed includes (1) the nature of any restrictions on the entity's use of its cash and cash equivalents, (2) whether the entity's cash and cash equivalents are insured or expose the entity to credit risk, (3) the classification of any negative balance accounts (overdrafts), and (4) the carrying basis of cash equivalents (for example, at cost) and whether the carrying amount of cash equivalents approximates fair value. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for credit risk. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy regarding (1) the principles it follows in consolidating or combining the separate financial statements, including the principles followed in determining the inclusion or exclusion of subsidiaries or other entities in the consolidated or combined financial statements and (2) its treatment of interests (for example, common stock, a partnership interest or other means of exerting influence) in other entities, for example consolidation or use of the equity or cost methods of accounting. The accounting policy may also address the accounting treatment for intercompany accounts and transactions, noncontrolling interest, and the income statement treatment in consolidation for issuances of stock by a subsidiary. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for deferral and amortization of significant deferred charges. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for its derivative instruments and hedging activities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for determining the fair value of financial instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for (1) transactions denominated in a currency other than the reporting enterprise's functional currency, (2) translating foreign currency financial statements that are incorporated into the financial statements of the reporting enterprise by consolidation, combination, or the equity method of accounting, and (3) remeasurement of the financial statements of a foreign reporting enterprise in a hyperinflationary economy. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for income taxes, which may include its accounting policies for recognizing and measuring deferred tax assets and liabilities and related valuation allowances, recognizing investment tax credits, operating loss carryforwards, tax credit carryforwards, and other carryforwards, methodologies for determining its effective income tax rate and the characterization of interest and penalties in the financial statements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for finite-lived intangible assets. This accounting policy also might address: (1) the amortization method used; (2) the useful lives of such assets; and (3) how the entity assesses and measures impairment of such assets. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for major classes of inventories, bases of stating inventories (for example, lower of cost or market), methods by which amounts are added and removed from inventory classes (for example, FIFO, LIFO, or average cost), loss recognition on impairment of inventories, and situations in which inventories are stated above cost. If inventory is carried at cost, this disclosure includes the nature of the cost elements included in inventory. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy pertaining to new accounting pronouncements that may impact the entity's financial reporting. Includes, but is not limited to, quantification of the expected or actual impact. No definition available.
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Disclosure of accounting policy for pension plans. This accounting policy may address (1) the types of plans sponsored by the entity (2) groups that participate in (or are covered by) each plan (3) how plan assets, liabilities and expenses are measured, including the use of any actuaries and (4) significant assumptions used by the entity to value plan assets and liabilities and how such assumptions are derived. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for assessing and recognizing impairments of its property, plant and equipment. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for trade and other accounts receivable, and finance, loan and lease receivables, including those classified as held for investment and held for sale. This disclosure may include (1) the basis at which such receivables are carried in the entity's statements of financial position (2) how the level of the valuation allowance for receivables is determined (3) when impairments, charge-offs or recoveries are recognized for such receivables (4) the treatment of origination fees and costs, including the amortization method for net deferred fees or costs (5) the treatment of any premiums or discounts or unearned income (6) the entity's income recognition policies for such receivables, including those that are impaired, past due or placed on nonaccrual status and (7) the treatment of foreclosures or repossessions (8) the nature and amount of any guarantees to repurchase receivables. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for segment reporting. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for stock option and stock incentive plans. This disclosure may include (1) the types of stock option or incentive plans sponsored by the entity (2) the groups that participate in (or are covered by) each plan (3) significant plan provisions and (4) how stock compensation is measured, and the methodologies and significant assumptions used to determine that measurement. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Disclosure of accounting policy for the use of estimates in the preparation of financial statements in conformity with generally accepted accounting principles. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Basis of Presentation and General Information (Tables)
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Tabular disclosure of the entity's vessel owning subsidiaries. No definition available.
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Acquisitions (Tables)
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Dec. 31, 2013
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Anax Container Carrier S.A.
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Thiseas Container Carrier S.A.
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Cronus Container Carrier S.A.
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Hercules Container Carrier S.A.
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| Identifiable intangible assets (Table Text Block) |
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| Pro Forma Financial Information (Table Text Block) |
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Iason Container Carrier S.A.
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| Business Acquisition | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase price allocation (Table Text Block) |
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| Identifiable intangible assets (Table Text Block) |
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Agamemnon Container Carrier Corp.
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| Business Acquisition | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase price allocation (Table Text Block) |
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| Identifiable intangible assets (Table Text Block) |
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| Pro Forma Financial Information (Table Text Block) |
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Archimidis Container Carrier Corp.
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| Business Acquisition | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase price allocation (Table Text Block) |
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| Identifiable intangible assets (Table Text Block) |
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| Pro Forma Financial Information (Table Text Block) |
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Patroklos Marine Corp.
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| Business Acquisition | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase price allocation (Table Text Block) |
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| Identifiable intangible assets (Table Text Block) |
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Crude Carriers Corp.
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| Business Acquisition | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Purchase price allocation (Table Text Block) |
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| X | ||||||||||
|
- Definition
Tabular disclosure of above market acquired time charter. No definition available.
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| X | ||||||||||
|
- Definition
Tabular disclosure of all of the fair values of the purchase price and assets and liabilities acquired in a business combination. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
|
- Definition
Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions with Related Parties (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Transactions with Related Parties (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balances and Transactions with Related Parties (Table Text Block) |
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| Charter Agreements (Table Text Block) |
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of time charter agreements in effect. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. No definition available.
|
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Vessels, net (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
|
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| Vessels (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Vessels (Table Text Block) |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Above market acquired charters (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2013
|
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| Above Market Acquired Charters (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Above Market Acquired Charters (Table Text Block) |
|
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| Above Market Acquired Charter Future Amortization Expense (Table Text Block) |
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| X | ||||||||||
|
- Definition
Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for above market acquired charter. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of above market acquired charters. No definition available.
|
|
Long-Term Debt (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
|
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| Long-Term Debt (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank Loans (Table Text Block) |
|
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| Schedule Of Credit Facilities Amounts Drawn Down (Table Text Block) |
|
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| Required Annual Loan Payments (Table Text Block) |
|
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| X | ||||||||||
|
- Definition
Tabular disclosure of the drawn down amounts of credit facilities. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of information pertaining to short-term and long-debt instruments or arrangements, including but not limited to identification of terms, features, collateral requirements and other information necessary to a fair presentation. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the combined aggregate amount of maturities and sinking fund requirements for all long-term borrowings for each of the five years following the date of the latest balance sheet date presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments (Tables)
|
12 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
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Dec. 31, 2013
|
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| Derivative Instruments (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Derivative liabilities - Fair value (Table Text Block) |
|
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| Derivative instruments - Balance Sheet (Table Text Block) |
|
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| Schedule Of Derivative Instruments Gain (Loss) In Statement Of Financial Performance (Table Text Block) |
|
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| Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis (Table Text Block) |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
|
- Definition
Tabular disclosure of the location and fair value amounts of derivative instruments (and nonderivative instruments that are designated and qualify as hedging instruments) reported in the statement of financial position. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Tabular disclosure of derivative liabilities at fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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|
Accrued Liabilities Disclosure (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
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| Accrued Liabilities (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Accrued Liabilities (Table Text Block) |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of the components of accrued liabilities. No definition available.
|
|
Voyage Expenses And Vessel Operating Expenses (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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|
Dec. 31, 2013
|
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| Voyage Expenses And Vessel Operating Expenses (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Voyage Expenses And Vessel Operating Expenses (Table Text Block) |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of voyage and vessel operating expenses relating to the operation and maintenance of the vessels, which are not separately disclosed in the income statement. No definition available.
|
|
Cash Flow (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
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| Cash Flow (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Cash Flow Supplemental Disclosures (Table Text Block) |
|
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| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Tabular disclosure of supplemental cash flow information for the periods presented. No definition available.
|
|
Partners' Capital (Tables)
|
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
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| Partners' Capital (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule of Incentive Distributions (Text Block) |
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| Partnership Units (Table Text Block) |
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- Definition
Tabular disclosure of outstanding units for each class of partnership interest. No definition available.
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- Details
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- Definition
Tabular disclosure of incentive payments in cash or stock or units paid during the accounting period to managing members or general partners of a limited liability corporation or limited partnership, as governed by the operating or partnership agreement. Disclosure may include identification of recipient, payments made, minimum distribution level, date payments are received, distributions per unit and per year, subsequent distribution amount and date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Omnibus Incentive Compensation Plan (Tables)
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Dec. 31, 2013
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| Omnibus Incentive Compensation Plan (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income / (Loss) Per Unit (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Net (Loss) / Income Per Unit (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Unit Basic (Table Text Block) |
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| Net Income Per Unit Diluted (Table Text Block) |
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| X | ||||||||||
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- Definition
Tabular disclosure of an entity's basic income per unit calculations No definition available.
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| X | ||||||||||
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- Definition
Tabular disclosure of an entity's diluted income per unit calculations. No definition available.
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| X | ||||||||||
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- Details
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Commitments and Contingencies (Tables)
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12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Dec. 31, 2013
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| Commitments and Contingencies (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Schedule Of Time And Bareboat Charter Agreements (Table Text Block) |
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| Future minimum rental receipts (Table Text Block) |
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| X | ||||||||||
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- Definition
Tabular disclosure of all the company's vessels under time and bareboat charter contracts. No definition available.
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| X | ||||||||||
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- Details
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| X | ||||||||||
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- Definition
Tabular disclosure of future minimum payments required in the aggregate and for each of the five succeeding fiscal years for operating leases having initial or remaining noncancelable lease terms in excess of one year and the total minimum rentals to be received in the future under noncancelable subleases as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Date when an entity was acquired by the Partnership. No definition available.
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| X | ||||||||||
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- Definition
Date when an entity was acquired by CMTC. No definition available.
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| X | ||||||||||
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- Definition
The vessels' size in DWT. No definition available.
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| X | ||||||||||
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- Definition
Date when an entity was incorporated No definition available.
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| X | ||||||||||
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- Details
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Basis of Presentation and General Information - Supplementary (Table) (Details)
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12 Months Ended |
|---|---|
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Dec. 31, 2013
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Capital Product Operating GP LLC
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| Subsidiary Of Limited Liability Company Or Limited Partnership | |
| Date of Incorporation | Jan. 16, 2007 |
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Crude Carriers Corp.
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| Subsidiary Of Limited Liability Company Or Limited Partnership | |
| Date of Incorporation | Oct. 29, 2009 |
| Date acquired by the Partnership | 09/30/2011 |
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Crude Carriers Operating Corp.
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| Subsidiary Of Limited Liability Company Or Limited Partnership | |
| Date of Incorporation | Jan. 21, 2010 |
| Date acquired by the Partnership | 09/30/2011 |
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Miltiadis M II Corp.
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| Subsidiary Of Limited Liability Company Or Limited Partnership | |
| Date of Incorporation | Aug. 28, 2012 |
| X | ||||||||||
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- Definition
Date when an entity was acquired by the Partnership. No definition available.
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| X | ||||||||||
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- Definition
Date when an entity was incorporated No definition available.
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| X | ||||||||||
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- Details
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Basis of Presentation and General Information - Additional Information (Details)
|
Dec. 31, 2013
|
|---|---|
| Property Plant And Equipment | |
| Number of vessels | 30 |
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Suezmax Crude Oil Tankers
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| Property Plant And Equipment | |
| Number of vessels | 4 |
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Medium Range Tankers
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| Property Plant And Equipment | |
| Number of vessels | 18 |
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Post Panamax Container Carrier Vessels
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| Property Plant And Equipment | |
| Number of vessels | 7 |
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Capesize Bulk Carrier
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| Property Plant And Equipment | |
| Number of vessels | 1 |
| X | ||||||||||
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- Definition
Number of vessels owned by the partnership. No definition available.
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| X | ||||||||||
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- Details
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Significant Accounting Policies - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2011
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| Restricted cash | $ 15,000 | $ 10,500 | |
| Allowance for doubtful accounts | $ 84 | $ 54 | |
| Scrap value per light weight ton (LWT) | $0.2 | ||
| Vessels useful life | 25 years | ||
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CMTC
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| Major customer percentage | 32.00% | 45.00% | 24.00% |
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British Petroleum Shipping Limited ("BP")
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| Major customer percentage | 17.00% | 23.00% | 32.00% |
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Overseas Shipholding Group Inc ("OSG")
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| Major customer percentage | 11.00% | ||
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A.P. Moler-Maersk A.S. ("Maersk")
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| Major customer percentage | 14.00% | ||
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Hyundai Merchant Marine Co Ltd ("HMM")
|
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| Major customer percentage | 13.00% | ||
| X | ||||||||||
|
- Definition
The scrap value of vessels per light weight ton (LWT). No definition available.
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| X | ||||||||||
|
- Definition
For an entity that discloses a concentration risk in relation to quantitative amount, which serves as the "benchmark" (or denominator) in the equation, this concept represents the concentration percentage derived from the division. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Useful life of long lived, physical assets used in the normal conduct of business and not intended for resale, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Examples include, but not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
| X | ||||||||||
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- Definition
Amount of expense related to write-down of receivables to the amount expected to be collected. Includes, but is not limited to, accounts receivable and notes receivable. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Anax Container Carrier S.A. (M/V Hyundai Prestige) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Sep. 11, 2013
Anax Container Carrier S.A.
|
|
| Business Acquisition | ||||
| Vessel | $ 54,000 | |||
| Above market acquired time charter | 19,094 | |||
| Identifiable assets | 73,094 | |||
| Purchase price | (65,000) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 8,094 |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
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| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Acquisition of Anax Container Carrier S.A. (M/V Hyundai Prestige) - Pro Forma Financial Information (Table) (Details) (Anax Container Carrier S.A., USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
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|
Anax Container Carrier S.A.
|
|
| Business Acquisition | |
| Total revenues | $ 176,535 |
| Partnership's net income | 100,624 |
| Preferred unit holders' interest in Partnership's net income | 18,805 |
| General Partner's interest in Partnership's net income | 1,621 |
| Common unit holders interest in Partnership's net income | $ 80,198 |
| Net income per common unit basic | $ 1.05 |
| Net income per common unit diluted | $ 1.02 |
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding basic common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding diluted common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Anax Container Carrier S.A. (M/V Hyundai Prestige) - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Aug. 31, 2013
|
Dec. 31, 2013
Anax Container Carrier S.A.
|
Sep. 11, 2013
Anax Container Carrier S.A.
|
Dec. 31, 2013
Anax Container Carrier S.A.
|
Sep. 11, 2013
$225,000 Senior Secured Credit Facility
|
|
| Business Acquisition | ||||||||
| Line of credit facility amount drawn down | $ 75,000 | |||||||
| Equity offering | 88,440,710 | 69,372,077 | 13,685,000 | |||||
| Duration of above market acquired time charter | 11 years 3 months 12 days | |||||||
| WACC used for calculation of above market acquired time charter | 11.00% | |||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 2,778 | ||||
| Net income | $ 1,298 | |||||||
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Line of credit facility amount drawn down. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Thiseas Container Carrier S.A. (M/V Hyundai Privilege) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Sep. 11, 2013
Thiseas Container Carrier S.A.
|
|
| Business Acquisition | ||||
| Vessel | $ 54,000 | |||
| Above market acquired time charter | 19,329 | |||
| Identifiable assets | 73,329 | |||
| Purchase price | (65,000) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 8,329 |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Thiseas Container Carrier S.A. (M/V Hyundai Privilege) - Pro Forma Financial Information (Table) (Details) (Thiseas Container Carrier S.A., USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
|
Thiseas Container Carrier S.A.
|
|
| Business Acquisition | |
| Total revenues | $ 174,045 |
| Partnership's net income | 100,144 |
| Preferred unit holders' interest in Partnership's net income | 18,805 |
| General Partner's interest in Partnership's net income | 1,611 |
| Common unit holders interest in Partnership's net income | $ 79,728 |
| Net income per common unit basic | $ 1.04 |
| Net income per common unit diluted | $ 1.01 |
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding basic common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding diluted common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Thiseas Container Carrier S.A. (M/V Hyundai Privilege) - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Aug. 31, 2013
|
Dec. 31, 2013
Thiseas Container Carrier S.A.
|
Sep. 11, 2013
Thiseas Container Carrier S.A.
|
Dec. 31, 2013
Thiseas Container Carrier S.A.
|
Sep. 11, 2013
$225,000 Senior Secured Credit Facility
|
|
| Business Acquisition | ||||||||
| Line of credit facility amount drawn down | $ 75,000 | |||||||
| Equity offering | 88,440,710 | 69,372,077 | 13,685,000 | |||||
| Duration of above market acquired time charter | 11 years 6 months 25 days | |||||||
| WACC used for calculation of above market acquired time charter | 11.00% | |||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 2,785 | ||||
| Net income | $ 1,392 | |||||||
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Line of credit facility amount drawn down. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Cronus Container Carrier S.A. (Hyundai Platinum) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Sep. 11, 2013
Cronus Container Carrier S.A.
|
|
| Business Acquisition | ||||
| Vessel | $ 54,000 | |||
| Above market acquired time charter | 19,358 | |||
| Identifiable assets | 73,358 | |||
| Purchase price | (65,000) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 8,358 |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Cronus Container Carrier S.A. (M/V Hyundai Platinum) - Pro Forma Financial Information (Table) (Details) (Cronus Container Carrier S.A., USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
|
Cronus Container Carrier S.A.
|
|
| Business Acquisition | |
| Total revenues | $ 173,699 |
| Partnership's net income | 100,031 |
| Preferred unit holders' interest in Partnership's net income | 18,805 |
| General Partner's interest in Partnership's net income | 1,609 |
| Common unit holders interest in Partnership's net income | $ 79,617 |
| Net income per common unit basic | $ 1.04 |
| Net income per common unit diluted | $ 1.01 |
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding basic common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding diluted common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Cronus Container Carrier S.A. (M/V Hyundai Platinum) - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 9 Months Ended | |||
|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Aug. 31, 2013
|
Dec. 31, 2013
Cronus Container Carrier S.A.
|
Sep. 11, 2013
Cronus Container Carrier S.A.
|
Dec. 31, 2013
Cronus Container Carrier S.A.
|
Sep. 11, 2013
$225,000 Senior Secured Credit Facility
|
|
| Business Acquisition | ||||||||
| Line of credit facility amount drawn down | $ 75,000 | |||||||
| Equity offering | 88,440,710 | 69,372,077 | 13,685,000 | |||||
| Duration of above market acquired time charter | 11 years 7 months 8 days | |||||||
| WACC used for calculation of above market acquired time charter | 11.00% | |||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 2,786 | ||||
| Net income | $ 1,357 | |||||||
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Line of credit facility amount drawn down. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Hercules Container Carrier S.A. (M/V Hyundai Premium) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Mar. 20, 2013
Hercules Container Carrier S.A.
|
|
| Business Acquisition | ||||
| Vessel | $ 54,000 | |||
| Above market acquired time charter | 19,707 | |||
| Identifiable assets | 73,707 | |||
| Purchase price | (65,000) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 8,707 |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Hercules Container Carrier S.A. (M/V Hyundai Premium) - Pro Forma Financial Information (Table) (Details) (Hercules Container Carrier S.A., USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
|
Hercules Container Carrier S.A.
|
|
| Business Acquisition | |
| Total revenues | $ 171,717 |
| Partnership's net income | 99,571 |
| Preferred unit holders' interest in Partnership's net income | 18,805 |
| General Partner's interest in Partnership's net income | 1,600 |
| Common unit holders interest in Partnership's net income | $ 79,166 |
| Net income per common unit basic | $ 1.04 |
| Net income per common unit diluted | $ 1.01 |
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding basic common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding diluted common limited partnership unit if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Hercules Container Carrier S.A. (M/V Hyundai Premium) - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Mar. 26, 2013
|
Jun. 06, 2012
|
Mar. 20, 2013
Hercules Container Carrier S.A.
|
Dec. 31, 2013
Hercules Container Carrier S.A.
|
Dec. 31, 2013
Hercules Container Carrier S.A.
|
Mar. 20, 2013
Hercules Container Carrier S.A. - Cash
|
Mar. 20, 2013
Hercules Container Carrier S.A. - $350,000 Credit Facility Utilized
|
Mar. 20, 2013
Hercules Container Carrier S.A. - Part of net procceds used from the issuance of Partnership's Class B Convertible Preferred Units
|
|
| Business Acquisition | |||||||||||
| Business acquisition financing | $ 363,038 | $ 1,614 | $ 27,003 | $ 27,000 | $ 36,279 | ||||||
| Class B convertible preferred unit issued | 9,100,000 | 15,555,554 | |||||||||
| Cash consideration for acquisition of vessel | 1,721 | ||||||||||
| Duration of above market acquired time charter | 11 years 9 months 11 days | ||||||||||
| WACC used for calculation of above market acquired time charter | 11.00% | ||||||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 7,181 | |||||||
| Net income | $ 3,567 | ||||||||||
| X | ||||||||||
|
- Definition
Amount of available cash paid to acquire the entity. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
The number of convertible Class B preferred shares that have been issued during the period. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents payments for acquisitions and capitalized improvements of vessels. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
|
Acquisition of Iason Container Carrier S.A. (M/V Hyundai Paramount) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Mar. 27, 2013
Iason Container Carrier S.A.
|
|
| Business Acquisition | ||||
| Vessel | $ 54,000 | |||
| Above market acquired time charter | 19,768 | |||
| Identifiable assets | 73,768 | |||
| Purchase price | (65,000) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 8,768 |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Iason Container Carrier S.A. (M/V Hyundai Paramount) - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 3 Months Ended | 9 Months Ended | 12 Months Ended | 3 Months Ended | ||||
|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Mar. 27, 2013
Iason Container Carrier S.A.
|
Dec. 31, 2013
Iason Container Carrier S.A.
|
Dec. 31, 2013
Iason Container Carrier S.A.
|
Mar. 27, 2013
Iason Container Carrier S.A. - Cash
|
Mar. 27, 2013
Iason Container Carrier S.A. - $350,000 Credit Facility Utilized
|
Mar. 27, 2013
Iason Container Carrier S.A. - Part of net proceeds used from the issuance of Partnership's Class B Convertible Preferred Units
|
|
| Business Acquisition | |||||||||
| Business acquisition financing | $ 363,038 | $ 1,614 | $ 27,003 | $ 27,000 | $ 36,278 | ||||
| Cash consideration for acquisition of vessel | 1,722 | ||||||||
| Duration of above market acquired time charter | 11 years 9 months 4 days | ||||||||
| WACC used for calculation of above market acquired time charter | 11.00% | ||||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 6,732 | |||||
| Net income / (loss) | $ 3,220 | ||||||||
| X | ||||||||||
|
- Definition
Amount of available cash paid to acquire the entity. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents payments for acquisitions and capitalized improvements of vessels. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
|
Acquisition of Agamemnon Container Carrier Corp. (M/V Agamemnon) - Purchase Price Allocation (Table) (Details) (Agamemnon Container Carrier Corp., USD $)
In Thousands, unless otherwise specified |
Dec. 22, 2012
|
|---|---|
|
Agamemnon Container Carrier Corp.
|
|
| Business Acquisition | |
| Vessel | $ 68,000 |
| Above market acquired time charter | 2,250 |
| Identifiable assets | 70,250 |
| Purchase price | $ (70,250) |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Acquisition of Agamemnon Container Carrier Corp. (M/V Agamemnon) - Pro Forma Financial Information (Table) (Details) (Agamemnon Container Carrier Corp., USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
|
Agamemnon Container Carrier Corp.
|
||
| Business Acquisition | ||
| Total revenues | $ 154,227 | $ 137,065 |
| Partnership's net income | 2,210 | 72,508 |
| Preferred unit holders' interest in Partnership's net income | 10,809 | 0 |
| General Partner's interest in Partnership's net (loss) / income | (172) | 1,450 |
| Common unit holders interest in Partnership's net (loss)/income | $ (8,427) | $ 71,058 |
| Net (loss) / income per common unit (basic and diluted) | $ (0.12) | $ 1.51 |
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding common limited partnership unit (basic and diluted) if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Agamemnon Container Carrier Corp. (M/V Agamemnon) - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
Agamemnon Container Carrier Corp.
|
Dec. 22, 2012
Agamemnon Container Carrier Corp.
|
Dec. 22, 2012
Achilleas Carriers Corp.
|
Dec. 31, 2012
Achilleas Carriers Corp.
|
|
| Business Acquisition | |||||||
| Fair value of assets exchanged | $ 68,875 | ||||||
| Cash consideration for acquisition of vessel | 1,375 | ||||||
| Duration of above market acquired time charter | 2 years 6 months 30 days | ||||||
| WACC used for calculation of above market acquired time charter | 11.00% | ||||||
| Acquisition related costs | 5 | ||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 318 | |||
| Net income | 185 | ||||||
| Vessel impairment charge | $ 0 | $ 43,178 | $ 0 | $ 21,614 | |||
| X | ||||||||||
|
- Definition
Amount of available cash paid to acquire the entity. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of assets exchanged. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
|
Acquisition of Archimidis Container Carrier Corp. (M/V Archimidis) - Purchase Price Allocation (Table) (Details) (Archimidis Container Carrier Corp., USD $)
In Thousands, unless otherwise specified |
Dec. 22, 2012
|
|---|---|
|
Archimidis Container Carrier Corp.
|
|
| Business Acquisition | |
| Vessel | $ 65,000 |
| Above market acquired time charter | 2,250 |
| Identifiable assets | 67,250 |
| Purchase price | $ (67,250) |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Acquisition of Archimidis Container Carrier Corp. (M/V Archimidis) - Pro Forma Financial Information (Table) (Details) (Archimidis Container Carrier Corp., USD $)
In Thousands, except Per Share data, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
|
Archimidis Container Carrier Corp.
|
||
| Business Acquisition | ||
| Total revenues | $ 155,011 | $ 139,890 |
| Partnership's net income | 2,746 | 72,813 |
| Preferred unit holders' interest in Partnership's net income | 10,809 | 0 |
| General Partner's interest in Partnership's net (loss) / income | (161) | 1,456 |
| Common unit holders interest in Partnership's net (loss)/income | $ (7,902) | $ 71,357 |
| Net (loss) / income per common unit (basic and diluted) | $ (0.12) | $ 1.51 |
| X | ||||||||||
|
- Definition
The pro forma net income/ (loss) to each outstanding common limited partnership unit (basic and diluted) if the business combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to common unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net Income or loss for the period allocated to general partners, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of pro forma net income or loss for the period allocated to noncontrolling preferred unit holders, as if the business combination or combinations had been completed at the beginning of a period. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The pro forma net Income or Loss for the period as if the business combination or combinations had been completed at the beginning of a period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The pro forma revenue for a period as if the business combination or combinations had been completed at the beginning of the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition of Archimidis Container Carrier Corp. (M/V Archimidis) - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 0 Months Ended | 12 Months Ended | ||||
|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2012
Archimidis Container Carrier Corp.
|
Dec. 22, 2012
Archimidis Container Carrier Corp.
|
Dec. 22, 2012
Alexander The Great
|
Dec. 31, 2012
Alexander The Great
|
|
| Business Acquisition | |||||||
| Fair value of assets exchanged | $ 68,875 | ||||||
| Cash consideration received for acquisition of vessel | 1,625 | ||||||
| Acquisition related costs | 5 | ||||||
| Duration of above market acquired time charter | 2 years 11 months 18 days | ||||||
| WACC used for calculation of above market acquired time charter | 11.00% | ||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 321 | |||
| Net income | 178 | ||||||
| Vessel impairment charge | $ 0 | $ 43,178 | $ 0 | $ 21,564 | |||
| X | ||||||||||
|
- Definition
Cash consideration received as a result of a business acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of assets exchanged. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
|
Acquisition Of Patroklos Marine Corp. (M/V Cape Agamemnon) - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 5 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 09, 2011
Patroklos Marine Corporation
|
|
| Business Acquisition [Line Items] | ||||
| Vessel | $ 51,500 | |||
| Above market acquired time charter | 48,551 | |||
| Identifiable assets | 100,051 | |||
| Purchase price | (83,525) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 16,526 |
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the identifiable net assets acquired. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition Of Patroklos Marine Corp. (M/V Cape Agamemnon) - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
8 Months Ended | 12 Months Ended | 1 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | |||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 31, 2013
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 30, 2011
|
Jun. 09, 2011
|
Jun. 30, 2011
Patroklos Marine Corporation
|
Dec. 31, 2011
Patroklos Marine Corporation
|
Jun. 09, 2011
Patroklos Marine Corporation
|
Dec. 31, 2011
Patroklos Marine Corporation - Cash
|
Dec. 31, 2011
Patroklos Marine Corporation - Credit Facility Utilized
|
Jun. 09, 2011
Capital Maritime and Trading Corp.
|
Dec. 31, 2011
Capital General Partners
|
Jun. 30, 2011
Partnership Units
|
Sep. 30, 2011
Partnership General Partner
|
Jun. 09, 2011
Partnership General Partner
|
Jun. 09, 2011
Capital Product Partners LP
|
|
| Business Acquisition [Line Items] | |||||||||||||||||
| Duration of above market acquired time charter | 9 years 0 months 22 days | ||||||||||||||||
| WACC used for calculation of above market acquired time charter | 11.00% | ||||||||||||||||
| Business acquisition financing | $ 363,038 | $ 1,614 | $ 27,003 | $ 1,470 | $ 25,000 | ||||||||||||
| Acquisition related costs | 409 | ||||||||||||||||
| Common unit price | $ 8.2 | ||||||||||||||||
| Common unit price used to determine the exchange ratio of the unit for share transaction | $ 10.35 | ||||||||||||||||
| Number of common units issued | 6,958,000 | ||||||||||||||||
| Common Units Issued | 13,685,000 | 88,440,710 | 69,372,077 | 142,000 | |||||||||||||
| Conversion of common units to general partner units | 499,346 | 142,000 | |||||||||||||||
| Proceeds from conversion to general partner units | 1,470 | ||||||||||||||||
| Interest of CGP in the partnership | 2.00% | 2.00% | |||||||||||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 5,305 | |||||||||||||
| Net income / (loss) | $ 2,899 | ||||||||||||||||
| X | ||||||||||
|
- Definition
The number of common units issued as part of the consideration for the acquisition of a business. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
The price of a common unit as quoted on the stock market. No definition available.
|
| X | ||||||||||
|
- Definition
The price of a common unit. No definition available.
|
| X | ||||||||||
|
- Definition
The equity interest of the general partner in the consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
Number of limited partner units converted into general partner units. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents payments for acquisitions and capitalized improvements of vessels. No definition available.
|
| X | ||||||||||
|
- Definition
The proceeds received from the conversion of common units to general partners units. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Interest rate used to find the present value of an amount to be paid or received in the future as an input to measure fair value. For example, but not limited to, weighted average cost of capital (WACC), cost of capital, cost of equity and cost of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Useful life of finite-lived intangible assets, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. No definition available.
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition Of Crude - Purchase Price Allocation (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
Crude Carriers Corp.
|
|
| Business Acquisition [Line Items] | ||||
| Current assets | $ 30,300 | |||
| Vessels | 351,750 | |||
| Total liabilities | (159,059) | |||
| Net assets acquired and liabilities assumed | 222,991 | |||
| Purchase price | (157,064) | |||
| Gain from bargain purchase | $ 42,256 | $ 0 | $ 82,453 | $ 65,927 |
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
In a business combination in which the amount of net identifiable assets acquired and liabilities assumed exceeds the aggregate consideration transferred or to be transferred (as defined), this element represents the amount of gain recognized by the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer, acquired at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of liabilities assumed at the acquisition date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount recognized as of the acquisition date for the identifiable assets acquired in excess of (less than) the aggregate liabilities assumed. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Acquisition Of Crude - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
8 Months Ended | 12 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Aug. 31, 2013
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 30, 2011
|
Jun. 09, 2011
|
Dec. 31, 2011
Crude Carriers Corp.
|
Sep. 30, 2011
Crude Carriers Corp.
|
Sep. 30, 2011
Units issued to Crude Carriers Corp. Shareholders
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by Partnership - Crude Employee Equity Incentive Plan
|
Jun. 30, 2011
Partnership Units
|
Sep. 30, 2011
Partnership General Partner
|
Jun. 09, 2011
Partnership General Partner
|
Dec. 31, 2011
Capital General Partners
|
|
| Business Acquisition [Line Items] | ||||||||||||||
| Purchase price consideration for the acquisition of Crude Carriers Corp - units issued to Crude Carriers Corp shareholders | $ 157,064 | $ 155,559 | ||||||||||||
| Common units issued | 13,685,000 | 88,440,710 | 69,372,077 | 24,344,176 | 142,000 | |||||||||
| Shares exchange ratio | 1.56 | |||||||||||||
| Purchase price consideration of Crude Carriers Corp - fair value attributable to precombination services of Crude Carriers Corp Equity Incentive plan | 1,505 | |||||||||||||
| Number of Crude Carriers' Corp incentive plan shares | 399,400 | |||||||||||||
| Number of Partnership units after the conversion of Crude Carriers' Corp incentive plan shares | 623,064 | |||||||||||||
| Number of general partner units converted | 499,346 | 142,000 | ||||||||||||
| Interest of CGP in the partnership | 2.00% | 2.00% | ||||||||||||
| Acquisition related costs | 4,225 | |||||||||||||
| Common unit price | $ 8.2 | $ 6.39 | ||||||||||||
| Common unit price used to determine the exchange ratio of the unit for share transaction | $ 10.35 | $ 11.27 | ||||||||||||
| Charter Revenues | 116,520 | 84,012 | 98,517 | 13,327 | ||||||||||
| Net income / (loss) | $ 1,399 | |||||||||||||
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
The price of a common unit as quoted on the stock market. No definition available.
|
| X | ||||||||||
|
- Definition
The price of a common unit. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value attributable to precombination services of Crude Carriers Corp incentive plan award. No definition available.
|
| X | ||||||||||
|
- Definition
The equity interest of the general partner in the consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
Number of Crude Carriers Corp. shares converted to limited partner units. No definition available.
|
| X | ||||||||||
|
- Definition
Number of limited partner units converted into general partner units. No definition available.
|
| X | ||||||||||
|
- Definition
The unit per share transaction at a ratio of 1.56 common partnership's units for each Crude Carrier's Corp share. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of direct costs of the business combination including legal, accounting, and other costs incurred to consummate the business acquisition. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after tax of income (loss) of subsidiary attributable to the parent entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Transactions with Related Parties - Consolidated Balance Sheets (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Assets: | ||
| Due from related parties | $ 667 | $ 0 |
| Total assets | 667 | 0 |
| Liabilities: | ||
| Due to related parties | 13,686 | 17,447 |
| Deferred revenue - current (e) | 6,936 | 10,302 |
|
Hire receivable (c)
|
||
| Assets: | ||
| Due from related parties | 667 | 0 |
|
Manager - payments on behalf of the Partnership (a)
|
||
| Liabilities: | ||
| Due to related parties | 12,333 | 15,957 |
|
Management fee payable to CSM (b)
|
||
| Liabilities: | ||
| Due to related parties | 1,353 | 1,490 |
|
Capital Maritime And Trading Corp
|
||
| Liabilities: | ||
| Deferred revenue - current (e) | 5,198 | 4,637 |
| Total liabilities | $ 18,884 | $ 22,084 |
| X | ||||||||||
|
- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of receivables arising from transactions with related parties due within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate amount of receivables to be collected from related parties where one party can exercise control or significant influence over another party; including affiliates, owners or officers and their immediate families, pension trusts, and so forth, at the financial statement date. which are usually due within one year (or one business cycle). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount as of the balance sheet date of obligations due all related parties. For classified balance sheets, represents the current portion of such liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Transactions with Related Parties - Consolidated Statements of Income (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Related Party Transaction | |||
| Revenues (c) | $ 54,974 | $ 69,938 | $ 31,799 |
| Voyage expenses | 314 | 554 | 165 |
| Vessel operating expenses | 17,039 | 23,634 | 30,516 |
| General and administrative expenses (d) | 9,477 | 9,159 | 10,609 |
|
Capital Ship Management Corp
|
|||
| Related Party Transaction | |||
| Revenues (c) | 54,974 | 69,938 | 31,799 |
| Voyage expenses | 314 | 554 | 165 |
| Vessel operating expenses | 17,039 | 23,634 | 30,516 |
| General and administrative expenses (d) | $ 3,052 | $ 3,092 | $ 1,630 |
| X | ||||||||||
|
- Definition
Revenues arising from services provided to related parties according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
|
| X | ||||||||||
|
- Definition
Related party vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Related party vessel voyage expenses are direct expenses to charter revenues. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate total of expenses of managing and administering the affairs of an entity, including affiliates of the reporting entity, which are not directly or indirectly associated with the manufacture, sale or creation of a product or product line. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The date of commencement of charter. No definition available.
|
| X | ||||||||||
|
- Definition
The gross daily charter hire rate. No definition available.
|
| X | ||||||||||
|
- Definition
The daily charter hire rate, net of commissions. No definition available.
|
| X | ||||||||||
|
- Definition
The expected termination or earliest redelivery date of charter. No definition available.
|
| X | ||||||||||
|
- Definition
The duration of time charter agreement. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Transactions with Related Parties - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |||||
|---|---|---|---|---|---|---|
|
Dec. 31, 2013
Capital Ship Management Corp
|
Dec. 31, 2012
Capital Ship Management Corp
|
Dec. 31, 2011
Capital Ship Management Corp
|
Dec. 31, 2013
M/T Aristofanis - Claim Proceeds
|
Dec. 31, 2011
M/T Attikos - Claim Proceeds
|
Mar. 15, 2013
Capital Product Partners LP Adjusted Fee Payable
|
|
| Related Party Transaction | ||||||
| Sales and purchase fee | 1.00% | |||||
| Commercial service fee | 1.25% | |||||
| Management agreement termination fees | $ 9,654 | |||||
| Additional fees related to unforeseen events | $ 644 | $ 1,850 | $ 1,237 | $ 330 | $ 710 | |
| X | ||||||||||
|
- Definition
This item represents the commercial services fee in all gross charter revenues generated by vessels of Crude Carriers Corp (a subsidiary of Capital Product Partners LP) for commercial services rendered. No definition available.
|
| X | ||||||||||
|
- Definition
Fees related to the termination of the Crude management agreement. No definition available.
|
| X | ||||||||||
|
- Definition
This item represents a sale and purchase fee as a percentage of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired by Crude Carriers, a subsidiary of Capital Product Partners LP. No definition available.
|
| X | ||||||||||
|
- Definition
Related party vessel operating expenses unforeseen events. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Vessels, net (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Vessels (Abstract) | |||
| Carrying amount as at beginning of period | $ 959,550 | $ 1,073,986 | |
| Acquisitions and improvements | 308,141 | 133,105 | |
| Disposals | (38,923) | (156,128) | |
| Impairment of vessels | 0 | (43,178) | 0 |
| Depreciation | (51,949) | (48,235) | |
| Carrying amount as at end of period | $ 1,176,819 | $ 959,550 | $ 1,073,986 |
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
This element represents costs for acquisitions and capitalized improvements of vessels. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of divestiture of long-lived, physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, furniture and fixtures, and computer equipment. No definition available.
|
|
Vessels, net (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2013
M/T Aristarchos (renamed M/T Aristotelis)
|
Dec. 31, 2013
M/T Agamemnon II
|
Sep. 11, 2013
Anax Container Carrier S.A.
|
Sep. 11, 2013
Thiseas Container Carrier S.A.
|
Sep. 11, 2013
Cronus Container Carrier S.A.
|
Mar. 20, 2013
Hercules Container Carrier S.A.
|
Mar. 27, 2013
Iason Container Carrier S.A.
|
Dec. 22, 2012
M/V Agamemnon
|
Dec. 22, 2012
M/V Archimidis
|
Dec. 22, 2012
M/T Achilleas and M/T Alexander the Great
|
Dec. 31, 2012
M/T Aristofanis
|
Dec. 31, 2012
M/T Attikos
|
|
| Property Plant And Equipment | |||||||||||||||
| Fair value of vessels acquired | $ 54,000 | $ 54,000 | $ 54,000 | $ 54,000 | $ 54,000 | $ 68,000 | $ 65,000 | ||||||||
| Fair value of vessels disposed | 137,750 | ||||||||||||||
| Date of vessel acquisition / sale | Nov. 28, 2013 | Nov. 05, 2013 | Apr. 04, 2012 | Feb. 14, 2012 | |||||||||||
| DWT | 51,604 | 51,238 | 12,000 | 12,000 | |||||||||||
| Year built | 2013 | 2008 | 2005 | 2005 | |||||||||||
| Initial acquisition expenses | 111 | ||||||||||||||
| Vessels' impairment charge | 0 | 43,178 | 0 | 43,178 | |||||||||||
| Unpaid expenses related to the sale of vessel | 343 | ||||||||||||||
| Vessel improvement costs capitalized | 105 | ||||||||||||||
| Net proceeds from sale of vessel | 32,192 | 21,299 | 0 | 32,192 | 9,867 | 9,807 | |||||||||
| Gain / (loss) on sale of vessel | (7,073) | 1,296 | 0 | (7,073) | 353 | 943 | |||||||||
| Vessel carrying value | 1,176,819 | 959,550 | 1,073,986 | 38,923 | 180,928 | 9,514 | 8,864 | ||||||||
| Purchase price | $ 38,141 | ||||||||||||||
| X | ||||||||||
|
- Definition
The total cost of the acquired entity including the cash paid to shareholders of acquired entities, fair value of debt and equity securities issued to shareholders of acquired entities, the fair value of the liabilities assumed, and direct costs of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
Initial expenses capitalized for vessels' acquisitions. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the acquisition. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of the vessel at the time of the disposal. No definition available.
|
| X | ||||||||||
|
- Definition
The cash proceeds net of commissions and expenses from the sale of vessels. No definition available.
|
| X | ||||||||||
|
- Definition
The vessel's size in DWT. No definition available.
|
| X | ||||||||||
|
- Definition
The charge against earnings resulting from the aggregate write down of the relative vessels from their carrying value to their fair value. No definition available.
|
| X | ||||||||||
|
- Definition
Vessel improvement expenses that were capitalized in the period. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
|
| X | ||||||||||
|
- Definition
The year that the vessel was built. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of gain (loss) on sale or disposal of property, plant and equipment assets, including oil and gas property and timber property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Date of acquisition or disposal, in CCYY-MM-DD format. No definition available.
|
|
Above market acquired charters - Carrying Value (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | 12 Months Ended | ||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2013
M/V Cape Agamemnon
|
Dec. 31, 2012
M/V Cape Agamemnon
|
Jun. 09, 2011
M/V Cape Agamemnon
|
Dec. 31, 2013
M/T Assos
|
Dec. 31, 2012
M/T Assos
|
Dec. 31, 2013
M/V Agamemnon
|
Dec. 31, 2012
M/V Agamemnon
|
Dec. 22, 2012
M/V Agamemnon
|
Dec. 31, 2013
M/V Archimidis
|
Dec. 31, 2012
M/V Archimidis
|
Dec. 22, 2012
M/V Archimidis
|
Dec. 31, 2013
M/V Hyundai Premium
|
Mar. 20, 2013
M/V Hyundai Premium
|
Dec. 31, 2013
M/V Hyundai Paramount
|
Mar. 27, 2013
M/V Hyundai Paramount
|
Dec. 31, 2013
M/V Hyundai Prestige
|
Sep. 11, 2013
M/V Hyundai Prestige
|
Dec. 31, 2013
M/V Hyundai Privilege
|
Sep. 11, 2013
M/V Hyundai Privilege
|
Dec. 31, 2013
M/V Hyundai Platinum
|
Sep. 11, 2013
M/V Hyundai Platinum
|
|
| Acquired Finite Lived Intangible Assets | ||||||||||||||||||||||||
| Carrying amount, beginning of period | $ 47,720 | $ 51,124 | $ 40,171 | $ 45,543 | $ 48,551 | $ 3,093 | $ 5,581 | $ 2,227 | $ 0 | $ 2,250 | $ 2,229 | $ 0 | $ 2,250 | $ 19,707 | $ 19,768 | $ 19,094 | $ 19,329 | $ 19,358 | ||||||
| Acquisitions | 97,256 | 4,500 | 0 | 0 | 0 | 0 | 0 | 2,250 | 0 | 2,250 | 19,707 | 19,768 | 19,094 | 19,329 | 19,358 | |||||||||
| Amortization | (13,594) | (7,904) | (5,489) | (5,357) | (5,372) | (2,481) | (2,488) | (864) | (23) | (797) | (21) | (1,311) | (1,240) | (519) | (513) | (512) | ||||||||
| Carrying amount, end of period | $ 131,382 | $ 47,720 | $ 51,124 | $ 34,814 | $ 40,171 | $ 48,551 | $ 612 | $ 3,093 | $ 1,363 | $ 2,227 | $ 2,250 | $ 1,432 | $ 2,229 | $ 2,250 | $ 18,396 | $ 19,707 | $ 18,528 | $ 19,768 | $ 18,575 | $ 19,094 | $ 18,816 | $ 19,329 | $ 18,846 | $ 19,358 |
| X | ||||||||||
|
- Definition
The current and non-current assets arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, for vessels acquired during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Above market acquired charters - Amortization Schedule (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2013
M/V Cape Agamemnon
|
Dec. 31, 2012
M/V Cape Agamemnon
|
Dec. 31, 2011
M/V Cape Agamemnon
|
Jun. 09, 2011
M/V Cape Agamemnon
|
Dec. 31, 2013
M/T Assos
|
Dec. 31, 2012
M/T Assos
|
Dec. 31, 2011
M/T Assos
|
Dec. 31, 2013
M/V Agamemnon
|
Dec. 31, 2012
M/V Agamemnon
|
Dec. 22, 2012
M/V Agamemnon
|
Dec. 31, 2011
M/V Agamemnon
|
Dec. 31, 2013
M/V Archimidis
|
Dec. 31, 2012
M/V Archimidis
|
Dec. 22, 2012
M/V Archimidis
|
Dec. 31, 2011
M/V Archimidis
|
Dec. 31, 2013
M/V Hyundai Premium
|
Mar. 20, 2013
M/V Hyundai Premium
|
Dec. 31, 2013
M/V Hyundai Paramount
|
Mar. 27, 2013
M/V Hyundai Paramount
|
Dec. 31, 2013
M/V Hyundai Prestige
|
Sep. 11, 2013
M/V Hyundai Prestige
|
Dec. 31, 2013
M/V Hyundai Privilege
|
Sep. 11, 2013
M/V Hyundai Privilege
|
Dec. 31, 2013
M/V Hyundai Platinum
|
Sep. 11, 2013
M/V Hyundai Platinum
|
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| For the twelve months period ended December 31, | ||||||||||||||||||||||||||||
| 2014 | $ 16,000 | $ 5,357 | $ 612 | $ 863 | $ 796 | $ 1,668 | $ 1,670 | $ 1,693 | $ 1,672 | $ 1,669 | ||||||||||||||||||
| 2015 | 14,865 | 5,357 | 0 | 500 | 636 | 1,668 | 1,670 | 1,693 | 1,672 | 1,669 | ||||||||||||||||||
| 2016 | 13,756 | 5,372 | 0 | 0 | 0 | 1,668 | 1,670 | 1,697 | 1,675 | 1,674 | ||||||||||||||||||
| 2017 | 13,729 | 5,357 | 0 | 0 | 0 | 1,668 | 1,670 | 1,693 | 1,672 | 1,669 | ||||||||||||||||||
| 2018 | 13,729 | 5,357 | 0 | 0 | 0 | 1,668 | 1,670 | 1,693 | 1,672 | 1,669 | ||||||||||||||||||
| Thereafter | 59,303 | 8,014 | 0 | 0 | 0 | 10,056 | 10,178 | 10,106 | 10,453 | 10,496 | ||||||||||||||||||
| Total | $ 131,382 | $ 47,720 | $ 51,124 | $ 34,814 | $ 40,171 | $ 45,543 | $ 48,551 | $ 612 | $ 3,093 | $ 5,581 | $ 1,363 | $ 2,227 | $ 2,250 | $ 0 | $ 1,432 | $ 2,229 | $ 2,250 | $ 0 | $ 18,396 | $ 19,707 | $ 18,528 | $ 19,768 | $ 18,575 | $ 19,094 | $ 18,816 | $ 19,329 | $ 18,846 | $ 19,358 |
| X | ||||||||||
|
- Definition
The current and non-current assets arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, after year five following the latest balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the next rolling twelve months. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the fifth rolling twelve months following the latest balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the fourth rolling twelve months following the latest balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the third rolling twelve months following the latest balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time, in the second rolling twelve months following the latest balance sheet date. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Long Term Debt - Total Debt (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | |
|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|
| Debt Instrument | ||
| Total debt | $ 583,315 | $ 458,365 |
| Less: Current portion | 5,400 | 0 |
| Long-term portion | 577,915 | 458,365 |
|
(i) Issued In April, 2007 maturing In June, 2017 Capital Product Partners L.P. Bank Loan
|
||
| Debt Instrument | ||
| Total debt | 250,850 | 250,850 |
| Margin | 2.00% | |
|
(ii) Issued In March, 2008 maturing In March 2018 Capital Product Partners L.P. Bank Loan
|
||
| Debt Instrument | ||
| Total debt | 238,465 | 188,515 |
| Margin | 3.00% | |
|
(iii) Issued In June 2011 maturing In March 2018 Capital Product Partners L.P. Bank Loan
|
||
| Debt Instrument | ||
| Total debt | 19,000 | 19,000 |
| Margin | 3.25% | |
|
(iv) Issued in September 2013 maturing in December 2020 Capital Product Partners L.P. Bank Loan
|
||
| Debt Instrument | ||
| Total debt | $ 75,000 | $ 0 |
| Margin | 3.50% |
| X | ||||||||||
|
- Definition
The credit facility margin. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, after unamortized discount or premium, scheduled to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, excluding amounts to be repaid within one year or the normal operating cycle, if longer (current maturities). Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt - Credit Facilities (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
|---|---|
|
M/T Akeraios - $370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | $ 46,850 |
| Amount drawn down date | Jul. 13, 2007 |
|
M/T Apostolos - $370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 56,000 |
| Amount drawn down date | Sep. 20, 2007 |
|
M/T Anemos I - $370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 56,000 |
| Amount drawn down date | Sep. 28, 2007 |
|
M/T Alexandros II - $370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 48,000 |
| Amount drawn down date | Jan. 29, 2008 |
|
M/T Amore Mio II - $350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 46,000 |
| Amount drawn down date | Mar. 27, 2008 |
|
M/T Aristofanis - $350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 11,500 |
| Amount drawn down date | Apr. 30, 2008 |
|
M/T Aristotelis II - $370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 20,000 |
| Amount drawn down date | Jun. 17, 2008 |
|
M/T Aris II - $370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 24,000 |
| Amount drawn down date | Aug. 20, 2008 |
|
M/T Aris II - $350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 1,584 |
| Amount drawn down date | Aug. 20, 2008 |
|
M/V Cape Agamemnon - $25,000 Credit Facility (iii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 19,000 |
| Amount drawn down date | Jun. 09, 2011 |
|
M/V Hyundai Premium - $350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 24,975 |
| Amount drawn down date | Mar. 20, 2013 |
|
M/V Hyundai Paramount - $350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 24,975 |
| Amount drawn down date | Mar. 27, 2013 |
|
M/V Hyundai Prestige (CCNI Angol), M/V Hyundai Privilege, M/V Hyundai Platinum - $225,000 Senior Secured Credit Facility (iv)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 75,000 |
| Amount drawn down date | Sep. 06, 2013 |
|
Crude Carriers Corp. and its subsidiaries - $350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 129,431 |
| Amount drawn down date | Sep. 30, 2011 |
|
$370,000 Credit Facility (i)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 250,850 |
|
$350,000 Credit Facility (ii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 238,465 |
|
$25,000 Credit Facility (iii)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | 19,000 |
|
$225,000 Senior Secured Credit Facility (iv)
|
|
| Debt Instrument | |
| Line Of Credit Facility Amount Outstanding | $ 75,000 |
| X | ||||||||||
|
- Definition
The date the credit facility amount was drawn down. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount borrowed under the credit facility as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt - Annual Loan Payments (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Debt Instrument | ||
| 2014 | $ 5,400 | |
| 2015 | 5,400 | |
| 2016 | 98,488 | |
| 2017 | 245,538 | |
| 2018 | 170,796 | |
| Thereafter | 57,693 | |
| Total | 583,315 | 458,365 |
|
$370,000 Credit Facility (i)
|
||
| Debt Instrument | ||
| 2014 | 0 | |
| 2015 | 0 | |
| 2016 | 51,900 | |
| 2017 | 198,950 | |
| 2018 | 0 | |
| Thereafter | 0 | |
| Total | 250,850 | |
|
$350,000 Credit Facility (ii)
|
||
| Debt Instrument | ||
| 2014 | 5,400 | |
| 2015 | 5,400 | |
| 2016 | 36,819 | |
| 2017 | 36,819 | |
| 2018 | 154,027 | |
| Thereafter | 0 | |
| Total | 238,465 | |
|
$25,000 Credit Facility (iii)
|
||
| Debt Instrument | ||
| 2014 | 0 | |
| 2015 | 0 | |
| 2016 | 4,000 | |
| 2017 | 4,000 | |
| 2018 | 11,000 | |
| Thereafter | 0 | |
| Total | 19,000 | |
|
$225,000 Senior Secured Credit Facility (iv)
|
||
| Debt Instrument | ||
| 2014 | 0 | |
| 2015 | 0 | |
| 2016 | 5,769 | |
| 2017 | 5,769 | |
| 2018 | 5,769 | |
| Thereafter | 57,693 | |
| Total | $ 75,000 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing after the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the next fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fifth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the fourth fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the third fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of long-term debt, sinking fund requirements, and other securities redeemable at fixed or determinable prices and dates maturing in the second fiscal year following the latest fiscal year. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Long-Term Debt - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
0 Months Ended | 8 Months Ended | 12 Months Ended | 0 Months Ended | 0 Months Ended | 12 Months Ended | 0 Months Ended | 5 Months Ended | 0 Months Ended | 7 Months Ended | 12 Months Ended | 9 Months Ended | 5 Months Ended | 12 Months Ended | 5 Months Ended | 12 Months Ended | 9 Months Ended | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Mar. 26, 2013
|
Aug. 31, 2013
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Dec. 31, 2013
$225,000 Senior Secured Credit Facility (iv)
|
Sep. 30, 2013
$225,000 Senior Secured Credit Facility (iv)
|
Apr. 04, 2012
$370,000 Credit Facility (i)
|
Feb. 15, 2012
$370,000 Credit Facility (i)
|
May 23, 2012
$370,000 Credit Facility (i)
|
Mar. 27, 2013
$350,000 Credit Facility (ii)
|
May 23, 2012
$350,000 Credit Facility (ii)
|
Dec. 31, 2012
$350,000 Credit Facility (ii)
|
Mar. 31, 2013
$350,000 Credit Facility (ii)
|
May 23, 2012
$25,000 Credit Facility (iii)
|
Dec. 31, 2013
$25,000 Credit Facility (iii)
|
May 23, 2012
All three Credit Facilities
|
May 23, 2012
$370,000 Term Loan
|
Dec. 31, 2012
$370,000 Term Loan
|
Dec. 31, 2013
$370,000 Term Loan
|
Dec. 31, 2013
$350,000 Term Loan
|
Jun. 06, 2012
Repayment of debt
|
Dec. 31, 2013
Long-Term Debt
|
Dec. 31, 2012
Long-Term Debt
|
Dec. 31, 2011
Long-Term Debt
|
May 23, 2012
Repayment of debt - Cash used from cash and cash equivalents
|
Dec. 31, 2013
Market disruption clause
|
Dec. 31, 2012
Market disruption clause
|
Dec. 31, 2011
Market disruption clause
|
Sep. 30, 2013
$225,000 Senior Secured Credit Facility original borrowing capacity
|
Dec. 31, 2013
$350,000 Credit Facility (ii) $54,000 Drawn Down Portion
|
Mar. 27, 2013
$350,000 Credit Facility (ii) $54,000 Drawn Down Portion
|
|
| Debt Instrument | ||||||||||||||||||||||||||||||||
| Line of credit facility, maximum borrowing capacity | $ 225,000 | $ 370,000 | $ 350,000 | $ 25,000 | $ 200,000 | |||||||||||||||||||||||||||
| Debt variable rate basis | LIBOR | |||||||||||||||||||||||||||||||
| Commitment fees | 1.00% | |||||||||||||||||||||||||||||||
| Repayment of credit facility | 4,050 | 175,215 | 134,580 | 10,500 | 10,000 | 5,149 | 149,566 | 13,147 | ||||||||||||||||||||||||
| Balloon payment due in March 2018 | 27,000 | |||||||||||||||||||||||||||||||
| $225,000 Senior Secured Credit Facility Tranche A | 75,000 | 54,000 | ||||||||||||||||||||||||||||||
| Repayment of debt - Net proceeds from issuance of preferred units | 72,557 | 119,811 | 192,368 | 136,419 | 136,419 | |||||||||||||||||||||||||||
| Cancellation of undrawn tranche | 52,500 | 1,420 | ||||||||||||||||||||||||||||||
| Number of installments | 20 | 9 | 9 | 6 | 20 | |||||||||||||||||||||||||||
| Quarterly periodic repayments | 7,855 | 1,000 | 12,975 | 1,350 | ||||||||||||||||||||||||||||
| Weighted average interest rate | 2.81% | 3.11% | ||||||||||||||||||||||||||||||
| Interest expense on long term debt | 15,991 | 26,658 | 33,820 | 14,982 | 25,788 | 32,216 | 0 | 373 | 1,290 | |||||||||||||||||||||||
| $225,000 Senior Secured Credit Facility Tranche B | 150,000 | |||||||||||||||||||||||||||||||
| Hyundai Prestige (renamed to CCNI Angol), Hyundai Privilege and Hyundai Platinum containership capacity | 5,000 | |||||||||||||||||||||||||||||||
| Credit Facility converted to Term Loan | $ 370,000 | $ 370,000 | $ 350,000 | |||||||||||||||||||||||||||||
| X | ||||||||||
|
- Definition
Cancellation of undrawn tranche under the credit facility. No definition available.
|
| X | ||||||||||
|
- Definition
The vessels' capacity in twenty-foot equivalent unit (TEU). No definition available.
|
| X | ||||||||||
|
- Definition
Line of credit facility amount drawn down. No definition available.
|
| X | ||||||||||
|
- Definition
The fee, expressed as a percentage of the line of credit facility, for the line of credit facility. No definition available.
|
| X | ||||||||||
|
- Definition
The number of quarterly installments. No definition available.
|
| X | ||||||||||
|
- Definition
The amount of the original debt being converted in a noncash (or part noncash) transaction. "Part noncash" refers to that portion of the transaction not resulting in cash receipts or cash payments in the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the debt instrument, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount of payment greater than the preceding installment payments to be paid at final maturity date of debt. No definition available.
|
| X | ||||||||||
|
- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Maximum borrowing capacity under the credit facility without consideration of any current restrictions on the amount that could be borrowed or the amounts currently outstanding under the facility. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of the required periodic payment applied to principal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Weighted average interest rate of long-term debt outstanding. No definition available.
|
| X | ||||||||||
|
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The cash outflow during the period from the repayment of aggregate short-term and long-term debt. Excludes payment of capital lease obligations. No definition available.
|
|
Long-Term Debt - Covenant Description (Details)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
| Long-Term Debt (Abstract) | |
| Debt Instrument Covenant Description | The Partnership's credit facilities contain customary ship finance covenants, including restrictions as to: changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness, the mortgaging of vessels, the ratio of EBITDA to Net Interest Expenses shall be no less than 2:1, minimum cash requirement of $500 per vessel, as well as the ratio of net Total Indebtedness to the aggregate Market Value of the total fleet shall not exceed 0.725:1. The credit facilities also contain the collateral maintenance requirement in which the aggregate average fair market value, of the collateral vessels shall be no less than 125% of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2013 and 2012 the Partnership was in compliance with all financial debt covenants. The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective vessel or vessels. Each also requires additional security, including: pledge and charge on current account; corporate guarantee from each of the thirty vessel-owning companies, and mortgage interest insurance. The Partnership's credit facilities contain a ''Market Disruption Clause'' where the lenders, at their discretion, may impose additional interest margin if their borrowing rate exceeds effective interest rate (LIBOR) stated in the loan agreement with the Partnership. For the years ended December 31, 2013, 2012 and 2011 the Partnership incurred an additional interest expense in the amount of $0, $373 and $1,290 respectively due to the ''Market Disruption Clause''. |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments - Fair Value (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Derivative | ||
| Short-term liabilities | $ 0 | $ 467 |
| Long-term liabilities | 0 | 0 |
| Total | 0 | 467 |
|
Interest Rate Swaps
|
||
| Derivative | ||
| Short-term liabilities | 0 | 467 |
| Long-term liabilities | 0 | 0 |
| Total | $ 0 | $ 467 |
| X | ||||||||||
|
- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Derivative Instruments - Balance Sheet Location (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Derivatives Fair Value | ||
| Derivative instruments long-term liabilities. | $ 0 | $ 0 |
| Derivative instruments short-term liabilities. | 0 | 467 |
| Total Derivative Liabilities | 0 | 467 |
|
Derivatives designated as hedging instruments - effective hedges
|
||
| Derivatives Fair Value | ||
| Derivative instruments long-term liabilities. | 0 | 0 |
| Derivative instruments short-term liabilities. | 0 | 100 |
|
Total derivatives not designated as hedging instruments - ineffective hedges
|
||
| Derivatives Fair Value | ||
| Derivative instruments short-term liabilities. | $ 0 | $ 367 |
| X | ||||||||||
|
- Definition
Sum as of the balance sheet date of the (a) fair values of all liabilities resulting from contracts that meet the criteria of being accounted for as derivative instruments, and (b) the carrying amounts of the liabilities arising from financial instruments or contracts used to mitigate a specified risk (hedge), and which are expected to be extinguished or otherwise disposed of within a year or the normal operating cycle, if longer, net of the effects of master netting arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset, expected to be settled after one year or the normal operating cycle, if longer. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Derivative Instruments - Effective Portion (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Amount of Gain Recorded in OCI (Effective Portion) | $ 462 | $ 10,762 | $ 17,518 |
| Amount of Gain/ (Loss) recognized in the consolidated statements of comprehensive income | 4 | 1,448 | 2,310 |
|
Interest rate swaps
|
|||
| Amount of Gain Recorded in OCI (Effective Portion) | (4) | (1,903) | (4,234) |
|
Interest expense and finance cost
|
|||
| Amount of Gain Recorded in OCI (Effective Portion) | 462 | 10,762 | 17,518 |
| Amount of Loss Reclassified from OCI into consolidated statements of comprehensive income (Effective Portion) | (466) | (12,665) | (21,752) |
|
Gain on interest rate swap agreement
|
|||
| Amount of Gain/ (Loss) recognized in the consolidated statements of comprehensive income | $ 4 | $ 1,448 | $ 2,310 |
| X | ||||||||||
|
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
|
| X | ||||||||||
|
- Definition
The effective portion of gains and losses (net) on derivative instruments designated and qualifying as hedging instruments that was recognized in other comprehensive income during the current period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The effective portion of loss reclassified from accumulated other comprehensive income into income on derivative instruments designated and qualifying as hedging instruments. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Derivative Instruments - Fair Value Measured on Recurring Basis (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Derivatives Fair Value | ||
| Derivatives | $ 0 | $ 467 |
|
Quoted Prices in Active Markets for Identical Assets (Level 1)
|
||
| Derivatives Fair Value | ||
| Derivatives | 0 | 0 |
|
Significant Other Observable Inputs (Level 2)
|
||
| Derivatives Fair Value | ||
| Derivatives | 0 | 467 |
|
Significant Unobservable Inputs (Level 3)
|
||
| Derivatives Fair Value | ||
| Derivatives | $ 0 | $ 0 |
| X | ||||||||||
|
- Definition
Fair value, after the effects of master netting arrangements, of a financial liability or contract with one or more underlyings, notional amount or payment provision or both, and the contract can be net settled by means outside the contract or delivery of an asset. Includes assets not subject to a master netting arrangement and not elected to be offset. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The net result of the accumulated OCL amortization of interest rate swaps dedesignated from cash flow hedges and the change in their fair values. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate notional amount of interest rate derivatives that have expired. No definition available.
|
| X | ||||||||||
|
- Definition
Number of interest rate derivative instruments held by the entity previously. No definition available.
|
| X | ||||||||||
|
- Definition
Number of interest swaps expired, under the credit facility. No definition available.
|
| X | ||||||||||
|
- Definition
Number of interest rate swaps not qualifying as cash flow hedges. No definition available.
|
| X | ||||||||||
|
- Definition
Number of interest rate swaps that were partially terminated under the credit facility. No definition available.
|
| X | ||||||||||
|
- Definition
Number of interest rate swaps that were terminated under the credit facility. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The reference rate for the variable rate of the interest rate derivative, such as LIBOR or the US Treasury rate and the maturity of the reference rate used, such as three months or six months LIBOR. No definition available.
|
| X | ||||||||||
|
- Definition
The estimated value of gains (losses), net anticipated to be transferred in the future from accumulated other comprehensive income into earnings. No definition available.
|
|
Accrued Liabilities (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Accrued Liabilities (Abstract) | ||
| Accrued loan interest and loan fees | $ 312 | $ 62 |
| Accrued operating expenses | 2,501 | 1,311 |
| Accrued voyage expenses and commissions | 1,543 | 909 |
| Accrued general and administrative expenses | 1,031 | 499 |
| Total | $ 5,387 | $ 2,781 |
| X | ||||||||||
|
- Definition
Accrued general and administrative expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Accrued loan interest and loan fees. No definition available.
|
| X | ||||||||||
|
- Definition
Accrued operating expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Accrued voyage expenses and commissions. No definition available.
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Voyage Expenses And Vessel Operating Expenses (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
12 Months Ended | ||
|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
|
| Voyage expenses: | |||
| Commissions | $ 2,742 | $ 1,752 | $ 1,844 |
| Bunkers | 2,473 | 3,921 | 8,400 |
| Port expenses | 226 | 0 | 1,390 |
| Other | 649 | (5) | 96 |
| Total | 6,090 | 5,668 | 11,730 |
| Vessel operating expenses: | |||
| Crew costs and related costs | 21,154 | 13,230 | 2,963 |
| Insurance expense | 3,780 | 2,830 | 784 |
| Spares, repairs, maintenance and other expenses | 6,545 | 2,231 | 390 |
| Stores and lubricants | 5,022 | 3,115 | 651 |
| Management fees | 16,395 | 21,784 | 29,279 |
| Vetting, insurances, spares and repairs (Note 4) | 644 | 1,850 | 1,237 |
| Other operating expenses | 1,783 | 720 | 161 |
| Total | $ 55,323 | $ 45,760 | $ 35,465 |
| X | ||||||||||
|
- Definition
Brokerage Commissions on contracted Charter Revenues. No definition available.
|
| X | ||||||||||
|
- Definition
Crew wages and related costs. No definition available.
|
| X | ||||||||||
|
- Definition
The total amount of other voyage costs and expenses items that are associated with the entity's normal revenue producing operation. No definition available.
|
| X | ||||||||||
|
- Definition
The costs incurred relating to port expenses. No definition available.
|
| X | ||||||||||
|
- Definition
The amount relating to the purchase of stores and lubricants consumed. No definition available.
|
| X | ||||||||||
|
- Definition
Vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
|
| X | ||||||||||
|
- Definition
Total vessel voyage expenses are direct expenses to charter revenues and consist of commissions, port expenses, canal dues, bunkers and other. No definition available.
|
| X | ||||||||||
|
- Definition
Related party vessel operating expenses unforeseen events. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate costs of keeping the property in good condition but that do not appreciably prolong the life or increase the value of the property. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Fuel costs incurred that are directly related to goods produced and sold and services rendered during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Insurance and claims costs directly related to goods produced and sold, or services rendered, during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The total amount of other operating cost and expense items that are associated with the entity's normal revenue producing operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The aggregate costs related to delivering management services during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Cash Flow - Crude's Net Assets (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Sep. 30, 2011
Crude Carrier Corp Net Assets Not Included In Cash Flow
|
|---|---|---|---|---|
| Cash Flow Information | ||||
| Trade receivables | $ 4,365 | $ 2,346 | $ 8,321 | |
| Prepayments and other assets | 1,376 | 1,259 | 629 | |
| Inventories | 2,740 | 2,333 | 9,503 | |
| Vessels | 1,176,819 | 959,550 | 1,073,986 | 351,750 |
| Total assets | 1,401,772 | 1,070,128 | 370,203 | |
| Trade accounts payable | 7,519 | 4,776 | 12,497 | |
| Due to related parties | 13,686 | 17,447 | 10,457 | |
| Accrued liabilities | 5,387 | 2,781 | 1,525 | |
| Long term debt | 583,315 | 458,365 | 134,580 | |
| Total liabilities | 620,346 | 496,300 | 159,059 | |
| Total Net Assets | $ 211,144 |
| X | ||||||||||
|
- Definition
The entity's net assets excluding cash. No definition available.
|
| X | ||||||||||
|
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
|
| X | ||||||||||
|
- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Carrying amount of long-term debt, net of unamortized discount or premium, including current and noncurrent amounts. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Partners' Capital - Partnership Units (Table) (Details)
|
Dec. 31, 2013
|
Dec. 31, 2012
|
|---|---|---|
| Partners' Capital (Abstract) | ||
| Common units | 88,440,710 | 69,372,077 |
| General partner units | 1,765,457 | 1,415,757 |
| Preferred units | 18,922,221 | 15,555,554 |
| Total partnership units | 109,128,388 | 86,343,388 |
| X | ||||||||||
|
- Definition
The number of common partnership units outstanding. No definition available.
|
| X | ||||||||||
|
- Definition
The number of general partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of each class of partnership units outstanding at the balance sheet date. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of preferred units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Partners' Capital - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
0 Months Ended | 8 Months Ended | 12 Months Ended | 8 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|
|
Mar. 26, 2013
|
Aug. 31, 2013
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jun. 06, 2012
|
Jun. 30, 2011
Partnership Units
|
Aug. 31, 2013
Underwriters Exercise of Overallotment Options
|
Aug. 31, 2013
CMTC
|
|
| Business Acquisition | |||||||||
| Equity offering | 13,685,000 | 88,440,710 | 69,372,077 | 142,000 | 1,785,000 | ||||
| Net price per common unit | $ 9.25 | ||||||||
| Net proceeds from equity offering | $ 120,696 | ||||||||
| Units purchased | 279,286 | ||||||||
| Common Units converted to General Partner Units | 349,700 | ||||||||
| Interest of CGP in the partnership | 2.00% | ||||||||
| Number of Class B convertible preferred units converted to common units | 5,733,333 | ||||||||
| Class B convertible preferred unit issued | 9,100,000 | 15,555,554 | |||||||
| Class B convertible preferred unit price | $ 8.25 | ||||||||
| Issuance of partnership units | 72,557 | 119,811 | 192,368 | 136,419 | |||||
| Conversion price of the Preferred units | $ 9 | ||||||||
| Preferred Units Conversion Rate | 1 | ||||||||
| May 23 And June 6 2012 Preferred Units Agreement Conversion Terms | Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price ("VWAP") and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the "Partnership Mandatory Conversion Event") the Partnership (acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full Board of Directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio. The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership's board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to this Agreement in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day. Any distribution payable on the Class B Convertible Preferred Units for any partial quarter (other than the initial distribution payable on the Class B Convertible Preferred Units for the period from May 22, 2012 through June 30, 2012 that equals to $0.26736 for each Class B Convertible Preferred Unit ) shall equal the product of the minimum quarterly Class B Convertible Preferred Unit distribution rate of $0.21375 (equals to a 9.5% annual distribution rate, subject to adjustment in the cases where clause of change of control, and/or clause of cross default provisions of the "Agreement" applies). | ||||||||
| Dividends declared and paid | $ 88,241 | $ 73,316 | $ 45,116 | ||||||
| X | ||||||||||
|
- Definition
The net price per common unit. No definition available.
|
| X | ||||||||||
|
- Definition
The price per unit of the convertible Class B preferred shares. No definition available.
|
| X | ||||||||||
|
- Definition
The number of convertible Class B preferred shares that have been issued during the period. No definition available.
|
| X | ||||||||||
|
- Definition
The equity interest of the general partner in the consolidated entity. No definition available.
|
| X | ||||||||||
|
- Definition
The number of limited partner units purchased. No definition available.
|
| X | ||||||||||
|
- Definition
Conversion terms for May 23 and June 6, 2012 Preferred units agreement. No definition available.
|
| X | ||||||||||
|
- Definition
The cash inflow from the issuance of common limited partners units during the period, net of the underwriters commissions. No definition available.
|
| X | ||||||||||
|
- Definition
The price of conversion of convertible preferred units into common units. No definition available.
|
| X | ||||||||||
|
- Definition
The rate of conversion of convertible preferred units into common units. No definition available.
|
| X | ||||||||||
|
- Definition
The number of Class B convertible preferred units converted to common units. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of limited partner units issued. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of units converted into shares of each class of partners' capital account. Units represent shares of ownership of the general, limited, and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Omnibus Incentive Compensation Plan (Table) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
|
Employee equity compensation
|
|
| Units | |
| Unvested, beginning of period | 338,135 |
| Vested | 338,135 |
| Unvested, end of period | 0 |
| Grant-date fair value | |
| Unvested, beginning of period | $ 2,521 |
| Vested | 2,521 |
| Unvested, end of period | 0 |
|
Non-Employee equity compensation
|
|
| Units | |
| Unvested, beginning of period | 650,464 |
| Vested | 650,464 |
| Unvested, end of period | 0 |
| Grant-date fair value | |
| Unvested, beginning of period | 4,736 |
| Vested | 4,736 |
| Unvested, end of period | $ 0 |
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The fair value of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. No definition available.
|
| X | ||||||||||
|
- Definition
The fair value of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. No definition available.
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Omnibus Incentive Compensation Plan - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
12 Months Ended | 8 Months Ended | 12 Months Ended | 8 Months Ended | 2 Months Ended | 12 Months Ended | 9 Months Ended | 12 Months Ended | |||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
Jul. 22, 2010
Partnerships Omnibus Incentive Compensation Plan
|
Apr. 29, 2008
Partnerships Omnibus Incentive Compensation Plan
|
Aug. 25, 2010
Partnerships Omnibus Incentive Compensation Plan Employees
|
Dec. 31, 2013
Partnerships Omnibus Incentive Compensation Plan Employees
|
Aug. 31, 2010
Partnerships Omnibus Incentive Compensation Plan Non Employees
|
Dec. 31, 2013
Partnerships Omnibus Incentive Compensation Plan Non Employees
|
Mar. 01, 2010
Crude Carriers Corp. Equity Incentive Plan
|
Dec. 31, 2013
Crude Carriers Corp. Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Employee Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Non Employee Equity Incentive Plan
|
Sep. 30, 2011
Acquisition of Crude Carriers Corp. by the Partnership - Crude Independent Committee
|
Dec. 31, 2013
Employee equity compensation
|
Dec. 31, 2012
Employee equity compensation
|
Dec. 31, 2011
Employee equity compensation
|
Dec. 31, 2013
Non-Employee equity compensation
|
Dec. 31, 2012
Non-Employee equity compensation
|
Dec. 31, 2011
Non-Employee equity compensation
|
|
| Units / Shares authorized | 800,000 | 500,000 | 400,000 | ||||||||||||||||||
| Units granted | 448,000 | 347,200 | 399,400 | ||||||||||||||||||
| Number of annual installments | 3 | 3 | |||||||||||||||||||
| Vesting date of remaining awards | 2013-08-31 | 2013-08-31 | |||||||||||||||||||
| Shares exchange ratio | 1.56 | ||||||||||||||||||||
| Unvested shares | 205,000 | 194,400 | 0 | 338,135 | 0 | 650,464 | |||||||||||||||
| Number of units converted | 319,800 | 303,264 | |||||||||||||||||||
| Vested shares | 20,000 | 338,135 | 650,464 | ||||||||||||||||||
| Number of units vested and converted | 31,200 | ||||||||||||||||||||
| Share based compensation | $ 3,528 | $ 3,826 | $ 2,455 | $ 1,216 | $ 1,834 | $ 1,358 | $ 2,312 | $ 1,992 | $ 1,097 | ||||||||||||
| X | ||||||||||
|
- Definition
The number of units converted according to the unit per shares transaction of 1.56 common partrnership's units for each Crude Carrier's Corp. share. No definition available.
|
| X | ||||||||||
|
- Definition
Number of equal annual installments for awards vested. No definition available.
|
| X | ||||||||||
|
- Definition
The number of units which were vested and converted. No definition available.
|
| X | ||||||||||
|
- Definition
The unit per share transaction at a ratio of 1.56 common partnership's units for each Crude Carrier's Corp share. No definition available.
|
| X | ||||||||||
|
- Definition
The date when the remaining awards vested. No definition available.
|
| X | ||||||||||
|
- Definition
The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Amount of net Income or Loss for the period allocated to noncontrolling preferred unit holders in an entity included in the reporting entity's consolidated financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income allocated to unvested common units. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income/loss allocated to outstanding common units. No definition available.
|
| X | ||||||||||
|
- Definition
Net income (loss) allocated to each outstanding common limited partnership unit basic. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit basic. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The dilutive effect of preferred units. No definition available.
|
| X | ||||||||||
|
- Definition
The dilutive effect of unvested shares. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of net Income or Loss for the period allocated to noncontrolling preferred unit holders in an entity included in the reporting entity's consolidated financial statements. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of net Income or Loss for the period allocated to noncontrolling preferred unit holders for the computation of diluted earnings. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income allocated to unvested common units. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income allocated to unvested common units, for the computation of diluted earnings. No definition available.
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income / (loss) allocated to limited partners. No definition available.
|
| X | ||||||||||
|
- Definition
Net income (loss) allocated to each outstanding common limited partnership unit diluted. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit basic. No definition available.
|
| X | ||||||||||
|
- Definition
The weighted average number of common limited partnership units issued and outstanding that are used in calculating earnings per common limited partnership unit diluted. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
|
Net Income / (Loss) Per Unit - Additional Information (Details)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2011
|
|
| Net (Loss) / Income Per Unit (Abstract) | |
| Antidilutive non vested units | 1,187,130 |
| X | ||||||||||
|
- Definition
Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Gain on sale of claim (Additional Information) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 10 Months Ended | 12 Months Ended | 10 Months Ended | 2 Months Ended | |||||
|---|---|---|---|---|---|---|---|---|---|---|
|
Jun. 26, 2013
|
Nov. 14, 2012
|
Dec. 31, 2013
|
Dec. 31, 2012
|
Dec. 31, 2011
|
May 24, 2013
|
Dec. 31, 2013
New charter contracts
|
Feb. 28, 2013
Original charter contracts
|
Dec. 31, 2013
Deutsche Bank
|
Jun. 25, 2013
Deutsche Bank
|
|
| Gain on sale of claim | ||||||||||
| Net daily hire rate per vessel | 6.3 | 13 | ||||||||
| Number of claims | 3 | |||||||||
| Total claim amount | $ 54,096 | |||||||||
| Percentage of right, title, interest, claims and causes of action transferred | 100.00% | |||||||||
| Gain on sale of claim to third party | 31,356 | 0 | 0 | |||||||
| Proceeds received on transfer of claim to third party | 32,000 | |||||||||
| Maximum amount to be paid to a third party | $ 644 | |||||||||
| X | ||||||||||
|
- Definition
The total claim amount. No definition available.
|
| X | ||||||||||
|
- Definition
The percentage of right, title, interest, claims and causes of action transferred. No definition available.
|
| X | ||||||||||
|
- Definition
Amount of gain / (loss) on sale of claim. No definition available.
|
| X | ||||||||||
|
- Definition
Maximum amount to be paid to the third party. No definition available.
|
| X | ||||||||||
|
- Definition
The daily charter hire rate, net of commissions. No definition available.
|
| X | ||||||||||
|
- Definition
The number of claims. No definition available.
|
| X | ||||||||||
|
- Definition
Proceeds received on transfer of claim. No definition available.
|
| X | ||||||||||
|
- Details
|
| X | ||||||||||
|
- Definition
The charterer's name. No definition available.
|
| X | ||||||||||
|
- Definition
The date of commencement of charter. No definition available.
|
| X | ||||||||||
|
- Definition
The gross daily charter hire rate. No definition available.
|
| X | ||||||||||
|
- Definition
Arrangement for profit sharing. No definition available.
|
| X | ||||||||||
|
- Definition
The duration of time charter agreement. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Dec. 31, 2013
|
|---|---|
| Year ended December 31, | |
| 2014 | $ 183,430 |
| 2015 | 104,139 |
| 2016 | 79,454 |
| 2017 | 76,038 |
| 2018 | 70,692 |
| Thereafter | 351,292 |
| Total | $ 865,045 |
| X | ||||||||||
|
- Definition
Future minimum rental payments in aggregate as of the balance sheet date under operating leases. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within one year of the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fifth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the fourth year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the third year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future rental payments receivable within the second year from the balance sheet date under an operating lease. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Definition
Future minimum lease payments receivable under operating leases for periods greater than five years following the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
|
- Details
|
|
Commitments and Contingencies - Additional Information (Details)
|
12 Months Ended |
|---|---|
|
Dec. 31, 2013
|
|
|
OSG
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | On November 14, 2012, OSG made a voluntary filing for relief under Chapter 11 of the U.S. Bankruptcy Code. After discussions with the Partnership and OSG agreed to enter into new charters contracts on substantially the same terms as the prior charters but at a bareboat rate of $6.3 per day. OSG has the option of extending the employment of each vessel following the completion of the bareboat charters for an additional two years on a time chartered basis at a rate of $16.5 per day. OSG has an option to purchase each of the three STX vessels at the end of the eighth, ninth or tenth year of the charter, for $38,000, $35,500 and $33,000, respectively, which option is exercisable six months before the date of completion of the eighth, ninth or tenth year of the charter. The expiration date above may therefore change depending on whether the charterer exercises its purchase option. |
|
M/V Archimidis and M/V Agamemnon
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | M/V Archimidis and the M/V Agamemnon are employed on time charters with Maersk at a gross day rate of US$34.0 per day with earliest redelivery in October 2015 and July 2015, respectively. Maersk has the option to extend the charter of both vessels for an additional four years at a gross day rate of $31.5 and $30.5 per day, respectively for the fourth and fifth year and $32.0 per day for the final two years. If all options were to be exercised, the employment of the vessels would extend to July 2019 for the M/V Agamemnon and October 2019 for the M/V Archimidis. |
|
CMTC
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | The vessel owning companies of the M/T Amoureux and the M/T Aias have entered into a one year time charter with Capital Maritime at a gross rate of $24.0 per day for each vessel with profit share on actual earnings settled every six months. The charters were commenced in January 2014 and December 2013 respectively. |
|
M/T Avax
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | The vessel's actual earnings under its charter will be $14.75 gross per day until May 2014 and $14.8 gross per day between May and October 2014, as the new daily charter rate includes compensation that CMTC will pay to the Partnership for the vessel's early redelivery in accordance with the terms of the charter party agreement with CMTC. BP has the option to extend the charter for one year at a daily rate of $15.6 |
|
M/T Atlantas (M/T British Ensign)
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | The M/T British Ensign will continue its bareboat charter with BP after the completion of its current charter in April 2014 for an additional 24 months at a bareboat rate of $6.8 per day. BP has the option to extend the duration of the charter for up to a further 12 months either as bareboat charter at a bareboat rate of $7.3 per day for the optional periods if declared or on time charter basis during the optional periods at a time charter rate of $14.3 per day, if declared. |
|
M/T Aktoras (M/T British Envoy)
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | The M/T British Envoy will continue its bareboat charter with BP after the completion of the current charter in July 2014 for an additional 18 months at a bareboat rate of $7.0 per day. BP has the option to extend the charter duration for up to a further 12 months either as a bareboat charter at a bareboat rate $7.3 per day for the optional periods,if declared or as a time charter at a time charter rate of $14.3 per day, if declared. |
|
M/T Aiolos (M/T British Emissary)
|
|
| Lease Commitments - Additional Information | |
| Charter Terms | The M/T British Emissary will continue its bareboat charter with BP after the completion of its current charters in March 2015 for an additional 24 months at a bareboat rate of $7.0 per day. BP has the option to extend the duration of the charter for up to a further 12 months either as bareboat charter at a bareboat rate of $7.3 per day for the optional periods if declared or on a time charter basis during all optional periods at a time charter rate of $14.3 per day if declared. |
| X | ||||||||||
|
- Definition
The terms relating to a specific time charter. No definition available.
|
| X | ||||||||||
|
- Details
|
|
Subsequent Events (Details) (USD $)
|
1 Months Ended | |||
|---|---|---|---|---|
|
Jan. 22, 2014
Common Unitholders
|
Feb. 14, 2014
Common Unitholders
|
Jan. 22, 2014
Class B Unitholders
|
Feb. 10, 2014
Class B Unitholders
|
|
| Dividend declared | $ 0.2325 | $ 0.21375 | ||
| Dividend paid | $ 0.2325 | $ 0.21375 | ||
| X | ||||||||||
|
- Definition
Per-share or per-unit cash distributions paid to a general or limited unit-holder by an LP. No definition available.
|
| X | ||||||||||
|
- Definition
Per unit of ownership amount of cash distributions declared to unit-holder of a limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|