Document And Entity Information
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6 Months Ended |
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Jun. 30, 2015
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Document and Entity Information | |
Document Type | 6-K |
Document Period End Date | Jun. 30, 2015 |
Amendment Flag | false |
Entity Registrant Name | Capital Product Partners L.P. |
Trading Symbol | CPLP |
Entity Central Index Key | 0001392326 |
Entity Current Reporting Status | Yes |
Entity Voluntary Filers | No |
Current Fiscal Year End Date | --12-31 |
Entity Filer Category | Accelerated Filer |
Entity Well Known Seasoned Issuer | No |
Document Fiscal Year Focus | 2015 |
Document Fiscal Period Focus | Q2 |
General Partner
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Document and Entity Information | |
Entity's units outstanding | 2,439,989 |
Common Limited Partner
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Document and Entity Information | |
Entity's units outstanding | 119,559,456 |
Preferred Limited Partner
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Document and Entity Information | |
Entity's units outstanding | 12,983,333 |
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- Definition
If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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- Definition
End date of current fiscal year in the format --MM-DD. No definition available.
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- Definition
This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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- Definition
This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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- Details
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- Definition
The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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- Definition
The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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- Definition
A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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- Definition
Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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- Definition
The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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- Definition
Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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- Definition
Trading symbol of an instrument as listed on an exchange. No definition available.
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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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- Definition
This element represents advances to a related party for vessels under construction and the excess between the fair value and the contractual cash consideration for these vessels. No definition available.
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- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
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- Definition
Amount for accounts payable to related parties. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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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- Definition
Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Amount 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
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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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- 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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- Definition
Sum of the carrying amounts as of the balance sheet date of all assets that are expected to be realized in cash, sold, or consumed within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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X | ||||||||||
- Definition
Sum of the carrying amounts as of the balance sheet date of all assets 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 | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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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- 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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- 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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- 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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- Definition
Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
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 | ||||||||||
- 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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- Details
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X | ||||||||||
- 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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- Details
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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
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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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- Details
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X | ||||||||||
- Definition
The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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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- 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 after one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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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- Details
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- Definition
Cash and equivalents whose use in whole or in part is restricted for the long-term, generally by contractual agreements or regulatory requirements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition
Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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- Definition
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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- 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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- Definition
Aggregate amount of net income allocated to common unitholders. No definition available.
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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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- 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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- Definition
Vessel voyage expenses are direct expenses to charter revenues and consist of commissions, port expenses, canal dues bunkers and other. No definition available.
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X | ||||||||||
- Definition
Related party vessel voyage expenses are direct expenses to charter revenues. No definition available.
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- Details
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- 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 | ||||||||||
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
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- Details
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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 | ||||||||||
- Definition
Interest and debt related expenses associated with nonoperating financing activities of the entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
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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- Definition
Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
The net result for the period of deducting operating expenses from operating revenues. No definition available.
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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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- Details
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X | ||||||||||
- Definition
The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of revenue recognized from goods sold, services rendered, insurance premiums, or other activities that constitute an earning process. Includes, but is not limited to, investment and interest income before deduction of interest expense when recognized as a component of revenue, and sales and trading gain (loss). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Details
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- Definition
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
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Unaudited Condensed Consolidated Statements of Changes in Partners' Capital (USD $)
In Thousands |
Total
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General Partner
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Limited Partners Common
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Limited Partners Preferred
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Balance at Dec. 31, 2013 | $ 781,426 | $ 12,310 | $ 606,413 | $ 162,703 |
Distributions declared and paid (distributions per common and preferred unit) (Note 7) | (50,036) | (821) | (41,136) | (8,079) |
Partnership's net income | 19,058 | 216 | 10,838 | 8,004 |
Conversion of Partnership's units (Notes 1, 7) | 2,787 | (2,787) | ||
Balance at Jun. 30, 2014 | 750,448 | 11,705 | 578,902 | 159,841 |
Balance at Dec. 31, 2014 | 872,561 | 15,602 | 735,547 | 121,412 |
Distributions declared and paid (distributions per common and preferred unit) (Note 7) | (59,143) | (1,066) | (52,236) | (5,841) |
Partnership's net income | 26,260 | 411 | 20,221 | 5,628 |
Issuance of partnership's units | 132,588 | 132,588 | ||
Conversion of Partnership's units (Notes 1, 7) | 2,742 | 7,900 | (10,642) | |
Balance at Jun. 30, 2015 | $ 972,266 | $ 17,689 | $ 844,020 | $ 110,557 |
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
Total change in each class of partners' capital accounts during the year due to exchanges and conversions. Partners include 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
The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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X | ||||||||||
- Definition
Capitalized dry docking and vessel costs included in liabilities. No definition available.
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X | ||||||||||
- Definition
This element represents the payments for vessel dry-docking expenses. No definition available.
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- Definition
Offering expenses included in liabilities. No definition available.
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X | ||||||||||
- Definition
The cash inflow from the issuance of partnership's, general partner, common and preferred units during the period. No definition available.
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- Details
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X | ||||||||||
- Definition
Amount of noncash expense included in interest expense to issue debt and obtain financing associated with the related debt instruments. Alternate captions include noncash interest expense. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Excludes cash and cash equivalents within disposal group and discontinued operation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Definition
Amount of increase (decrease) in cash and cash equivalents. Cash and cash equivalents are the amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Also includes short-term, highly liquid investments that are both readily convertible to known amounts of cash and so near their maturity that they present insignificant risk of changes in value because of changes in interest rates. Includes effect from exchange rate changes. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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X | ||||||||||
- Details
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X | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- Details
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X | ||||||||||
- 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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- Details
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X | ||||||||||
- 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 | ||||||||||
- Definition
The cash outflow for acquisition of or capital improvements to properties held for investment (operating, managed, leased) or for use. 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 | ||||||||||
- 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 | ||||||||||
- 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 | ||||||||||
- 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
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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- Details
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Basis Of Presentation And General Information
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6 Months Ended | ||
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Jun. 30, 2015
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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 three modern high specification vessels consists of four suezmax crude oil tankers, twenty modern medium range tankers all of which are classed as IMO II/III vessels, eight 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 accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (U.S. GAAP) for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These statements and the accompanying notes should be read in conjunction with the Company's Annual Report on Form 20-F for the fiscal year ended December 31, 2014, filed with the U.S. Securities and Exchange Commission (the SEC) on February 26, 2015.
These unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include all normal recurring adjustments considered necessary for a fair presentation of the Partnership's financial position, results of operations and cash flows for the periods presented. Operating results for the six month period ended June 30, 2015 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2015.
Immaterial reclassification to correct prior period presentation: The reclassification reflects the value of the conversion of 350,000 class B units into common units during the six month period ended June 30, 2014 which were not reflected in the unaudited condensed consolidated statement of changes in partners' capital for the six month period ended June 30, 2014. This error was identified prior to December 31, 2014 and correctly presented in the Partnership's Consolidated Financial Statements included in the Annual Report on Form 20-F for the year ended December 31, 2014 (the Consolidated Financial Statements for the year ended December 31, 2014). Total partners' capital remained unchanged as the reclassification impacted only the Partnership's Limited Partners - Common and the Partnership's Limited Partners - Preferred, and no other financial statement line items were impacted by these reclassifications. This reclassification resulted in an increase of $2,787 to the Partnership's Limited PartnersCommon and a decrease of $2,787 to the company's Limited PartnersPreferred.
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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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Jun. 30, 2015
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Significant Accounting Policies (Abstract) | |||
Significant Accounting Policies |
A discussion of the Partnership's significant accounting policies can be found in the Partnership's Consolidated Financial Statements. There have been no changes to these policies in the six month period ended June 30, 2015.
Recent accounting pronouncements: On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No 2014-09, Revenue From Contracts With Customers, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is not permitted. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard.
In April 2015, the FASB issued ASU 2015-03 Simplifying the Presentation of Debt Issuance Costs. To simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. This standard is effective for public entities with reporting periods beginning after December 15, 2015. Early adoption is permitted. The Partnership believes that the implementation of this standard will only affect the presentation of debt issuance costs which will be shown as a direct deduction of the related debt instead of under non-current assets in the accompanying balance sheets and has not elected the early adoption.
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The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions With Related Parties
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Transactions with Related Parties |
The Partnership and its subsidiaries have related-party transactions with Capital Ship Management Corp. (the Manager or CSM), due to certain terms of the following three different types of management agreements.
(a) a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index;
(b) a sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired by Crude; 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 2015 this termination fee was adjusted to $9,760.
All the above three agreements constitute the Management Agreements.
Under the terms of the fixed fee management agreement, the Manager charges the Partnership for additional fees and costs, relating to insurances deductibles, vetting, and repairs and spares that related to unforeseen events. For the six month periods ended June 30, 2015 and 2014 such fees amounted to $268 and $640 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 Capital General Partner (CGP) for all expenses which are necessary or appropriate for the conduct of the Partnership's business. The Partnership reimburses the Manager and CGP for reasonable costs and expenses incurred in connection with the provision of these services after the Manager submits to the Partnership an invoice for such costs and expenses, together with any supporting detail that may be reasonably required. These expenses are included in general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income.
Balances and transactions with related parties consisted of the following:
(a) Manager - Payments on Behalf of the Partnership: This line item represents the payment the Manager makes on behalf of the Partnership and its subsidiaries.
(b) Management fee payable to CSM: The amount outstanding as of June 30, 2015 and December 31, 2014 represents the management fees payable to CSM as a result of the Management Agreements the Partnership entered into with the Manager.
(c)Revenues: The following table includes information regarding the charter agreements that were in place between the Partnership and Capital Maritime & Trading Corp. (CMTC) during the six month periods ended June 30, 2015 and 2014:
(d) General and administrative expenses: This line item mainly includes internal audit, investor relations and consultancy fees.
(e)Deferred Revenue - Current: As of June 30, 2015 and December 31, 2014 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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Fixed Assets
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Jun. 30, 2015
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Property Plant And Equipment [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||
Fixed assets | 4. Fixed assets
(a) Advances for vessels under construction - related party
An analysis of advances for vessels under construction - related party is as follows:
On July 24, 2014, the Partnership entered into a Master Agreement with CMTC to acquire five vessel owning companies that owned five under construction vessels (the Newbuildings) subject to the amendment of the partnership agreement to reset the target distributions to holders of the incentive distribution rights (the IDR) (Note 7).
As the reset of the IDR was a pre-condition for the acquisition of the vessels, the amount of $ 36,417, representing the difference between the fair value of the respective Newbuildings at the time of the approval of this transaction in August 2014 at the Partnership's annual general meeting of $ 347,917 and the contractual cash consideration of $ 311,500, is considered to be the deemed equity contribution and thus the fair value of the reset of the IDR. The fair value of the IDR reset has been accounted for in Partner's capital and in the Partnership's unaudited condensed consolidated balance sheets as Advances for vessels under construction - related party. The fair value of the new buildings amounting to $ 347,917 was based on the average of three valuations obtained from three independent shipbrokers.
The Newbuildings comprise two 50,000 Dead Weight Tonnage (dwt) product carriers and three 9,288 Twenty feet Equivalent Unit (TEU) post-panamax container carriers. Following the successful follow-on offering in September 2014 (Note 7), the Partnership made on September 10, 2014, an advance payment to CMTC of $30,224 in connection with the above acquisitions, and was presented as Advances for vessels under construction - related party in the Partnership's Consolidated Financial Statements for the year ended December 31, 2014. According to the Master Agreement the Partnership also has the right of first refusal to acquire six additional new building product tanker vessels with expected delivery dates in 2015 and 2016.
During the six month period ended June 30, 2015 the Partnership acquired from CMTC the shares of the three out of the five vessel owning companies (Note 4b). As a result, as at June 30, 2015, the amount of $36,318 consisted of advances of $15,818 that the Partnership paid to CMTC for the acquisition of the remaining two vessel owning companies and the fair value from the reset of the IDR of $20,500 that was applicable to these two vessels, and is presented as Advances for vessels under construction-related party in the Partnership's unaudited condensed consolidated balance sheets as of June 30, 2015.
(b) Vessels, net
An analysis of vessels is as follows:
All of the Partnership's vessels as of June 30, 2015 have been provided as collateral to secure the Partnership's credit facilities.
On March 31, June 10 and June 30, 2015, the Partnership acquired the shares of the vessel owning companies of the M/T Active, the M/V Akadimos (renamed to CMA CGM Amazon) and the M/T Amadeus for a total consideration of $33,500, $81,500 and $33,500 respectively. The total acquisition cost of $148,500 was funded by three separate drawn downs totaling $72,389 from the Partnership's existing credit facility of $225,000 and the remaining balance of $76,111 through the Partnership's available cash. The Partnership accounted for the acquisition of the vessel owning companies of the M/T Active, the M/V Akadimos and the M/T Amadeus as acquisition of assets. Thus these vessels were recorded in the Partnership's financial statements at their respective fair values of $36,333, $91,750 and $36,333 as quoted by independent brokers. As of December 31, 2014 the Partnership had paid advances of $14,407 to CMTC for the acquisition of the shares of these vessel owning companies which were part of the advance payment of $30,224 that the Partnership made to CMTC on September 10, 2014. The difference of $15,916 between the vessels' fair values of $164,416 and the acquisition cost of $148,500 was part of the excess of $36,417 that the Partnership had recorded in its financial statements in August 2014 upon the approval of the Master Agreement and the IDR reset from the Partnership's annual meeting.
During 2015, M/T Agisilaos, M/T Avax and M/T Akeraios underwent improvements during their scheduled special and intermediate survey respectively. The costs of these improvements for the three vessels amounted to $80 and were capitalized as part of the vessels' historic cost.
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The entire disclosure of vessels that are used in the normal conduct of business and not intended for resale. The disclosure may include, but not limited to, vessel additions, disposals, impairment and depreciation. No definition available.
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Above Market Acquired Charters
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Above market acquired charters |
For the six month periods ended June 30, 2015 and 2014, revenues included a reduction of $7,631 and $8,243 as amortization of the above market acquired charters, respectively.
An analysis of above market acquired charters is as follows:
As of June 30, 2015 the remaining carrying amount of unamortized above market acquired time and bare-boat charters was $107,751 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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Jun. 30, 2015
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Long-Term Debt (Abstract) | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Long-Term Debt |
As of June 30, 2015 the Partnership's long-term debt consists of the following:
Details of the Partnership's credit facilities are discussed in Note 7 of the Partnership's Consolidated Financial Statements for the year ended December 31, 2014.
In April 2015, the Partnership entered into three amendments to its credit facilities of $370,000, $350,000 and $25,000 providing for:
(i) the prepayments made on April 30, 2015, and funded by the proceeds of the April 2015 offering of common units (Note 7), of the scheduled four quarterly amortization payments in 2016 and the first quarter of 2017 in the respective aggregate amounts of $64,875, $46,024 and $5,000;
(ii) the deferral, following the prepayments, of any further scheduled amortization payments until November 2017 for the $370,000 and $350,000 credit facilities and until December 2017 for the $25,000 credit facility;
(iii) an extension of the final maturity date to December 31, 2019 for the $370,000 and $350,000 credit facilities; and
(iv) an increase of the interest rate under the $370,000 credit facility to 3.0% over LIBOR from 2.0% over LIBOR.
All other terms in our existing credit facilities remained unchanged.
On March 27, June 8 and June 29, 2015, the Partnership had drawn down the amounts of $16,750, $40,750 and $14,889 from the Tranche B of its credit facility of $225,000 in order to partly finance the acquisition of the shares of the vessel owning company of the M/T Active, the M/V Akadimos and the M/T Amadeus respectively (Note 4).
As of June 30, 2015 and December 31, 2014 the Partnership was in compliance with all financial debt covenants.
For the six month periods ended June 30, 2015 and 2014 interest expense amounted to $8,230 and $8,196, respectively. As of June 30, 2015 the weighted average interest rate of the Partnership's loan facilities was 3.34%.
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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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Partners' Capital
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Partners' Capital (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partners' Capital |
As of June 30, 2015 and December 31, 2014 the Partnership's partners' capital comprised of the following units:
For the six month period ended June 30, 2015 and 2014 various investors, holders of Class B Convertible Preferred Units, converted 1,240,404 and 350,000 Class B Convertible Preferred Units into common units, respectively.
In April 2015, the Partnership completed successfully a follow-on equity offering of 14,555,000 common units, including 1,100,000 common units sold to CMTC and 1,755,000 common units representing the overallotment option at a net price of $9.53 per common unit, receiving proceeds of $133,327 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 $132,588.
During the six month period ended June 30, 2015 CMTC converted 315,908 common units into general partner units respectively, in order for CGP to maintain its 2% interest in the Partnership. For the six month period ended June 30, 2014 CMTC did not convert any common unit into general partner unit.
Details of the Partnership's Partner's Capital are discussed in Note 12 of the Partnership's Consolidated Financial Statements.
During the six month periods ended June 30, 2015 and 2014, the Partnership declared and paid the following distributions to its common and preferred unit holders:
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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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Net Income Per Unit
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Net Income Per Unit |
The general partner's common unit holders' interests in net income are calculated as if all net income for periods subsequent to April 4, 2007, were distributed according to the terms of the Partnership'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, which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves determined by the Partnership's board of directors to provide for the proper resources for the Partnership's business. Unlike available cash, net income is affected by non-cash items. The Partnership follows the guidance relating to the Application of the Two-Class Method and its application to Master Limited Partnerships, which considers whether the incentive distributions of a master limited partnership represent a participating security when considered in the calculation of earnings per unit under the Two-Class Method.
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 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.
The Partnership's net income for the six month periods ended June 30, 2015 and 2014 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.
The Two Class Method was used to calculate Earnings Per Unit (EPU) as follows:
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The entire disclosure for earnings per share. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Commitments And Contingencies
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Commitments and Contingencies | 9. 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 unaudited condensed consolidated financial statements.
The Partnership accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, the Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying unaudited condensed consolidated financial statements.
Future minimum rental receipts, excluding any profit share revenue that may arise, based on non-cancelable long-term time and bareboat charter contracts, as of June 30, 2015 are:
(b) Vessels Purchase Commitments
The Partnership has outstanding purchase commitments relating to the acquisition of the shares of two vessel owning companies, each of which is the owner of a 9,288 TEU post-panamax container carriers, amounting to $147,182 that are all payable within the next 12 months.
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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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Subsequent Events |
In addition, on July 23, 2015, the Board of Directors of the Partnership declared a cash distribution of $0.21775 per Class B unit for the second quarter of 2015. The cash distribution was paid on August 10, 2015, to Class B unit holders of record on August 3, 2015.
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The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Significant Accounting Policies (Policy)
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Significant Accounting Policies (Abstract) | |
Recent Accounting Pronouncements | Recent accounting pronouncements: On May 28, 2014, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) No 2014-09, Revenue From Contracts With Customers, which outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. This standard is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is not permitted. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard.
In April 2015, the FASB issued ASU 2015-03 Simplifying the Presentation of Debt Issuance Costs. To simplify presentation of debt issuance costs, the amendments in this update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in this update. This standard is effective for public entities with reporting periods beginning after December 15, 2015. Early adoption is permitted. The Partnership believes that the implementation of this standard will only affect the presentation of debt issuance costs which will be shown as a direct deduction of the related debt instead of under non-current assets in the accompanying balance sheets and has not elected the early adoption.
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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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Transactions with Related Parties (Tables)
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Charter Agreements (Table Text Block) |
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Tabular disclosure of time charter agreements in effect. No definition available.
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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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Fixed Assets (Tables)
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Advances for vessels under construction - related party |
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Vessels, net |
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Tabular disclosure of advances for vessels under construction. No definition available.
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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)
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Above Market Acquired Charters (Table Text Block) |
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Above Market Acquired Charter Future Amortization Expense (Table Text Block) |
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Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for above market acquired charter. No definition available.
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Tabular disclosure of above market acquired charters. No definition available.
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Long-Term Debt (Tables)
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Long-Term Debt (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Bank Loans (Table Text Block) |
|
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.
|
Partners' Capital (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Partners' Capital (Abstract) | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Partnership Units (Table Text Block) |
|
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Distribution to unitholders (Table Text Block) |
|
X | ||||||||||
- Definition
Tabular disclosure of outstanding units for each class of partnership interest. No definition available.
|
X | ||||||||||
- Definition
Tabular disclosure of payment of cash or stock made to limited partner of limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
Net Income Per Unit (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Jun. 30, 2015
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Net Income Per Unit [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Net Income Per Unit Basic and Diluted (Table Text Block) |
|
X | ||||||||||
- Definition
Tabular disclosure of an entity's basic and diluted income per unit calculations No definition available.
|
X | ||||||||||
- Details
|
Commitments and Contingencies (Tables)
|
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2015
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Commitments and Contingencies (Abstract) | |||||||||||||||||||||||||||||||||||||||||
Future minimum rental receipts (Table Text Block) |
|
X | ||||||||||
- Details
|
X | ||||||||||
- 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
|
Basis of Presentation and General Information - Supplementary (Details) (Capital Product Partners L.P.)
|
6 Months Ended |
---|---|
Jun. 30, 2015
|
|
Capital Product Partners L.P.
|
|
Subsidiary Of Limited Liability Company Or Limited Partnership | |
Date of Incorporation | Jan. 16, 2007 |
X | ||||||||||
- Definition
Date when an entity was incorporated No definition available.
|
X | ||||||||||
- Details
|
Basis of Presentation and General Information - Additional Information (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
6 Months Ended | |
---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Basis Of Presentation and General Information (Abstract) | ||
Immaterial reclassification to correct prior period presentation | Immaterial reclassification to correct prior period presentation: The reclassification reflects the value of the conversion of 350,000 class B units into common units during the six month period ended June 30, 2014 which were not reflected in the unaudited condensed consolidated statement of changes in partners' capital for the six month period ended June 30, 2014. This error was identified prior to December 31, 2014 and correctly presented in the Partnership's Consolidated Financial Statements included in the Annual Report on Form 20-F for the year ended December 31, 2014 (the "Consolidated Financial Statements for the year ended December 31, 2014"). Total partners' capital remained unchanged as the reclassification impacted only the Partnership's Limited Partners - Common and the Partnership's Limited Partners - Preferred, and no other financial statement line items were impacted by these reclassifications. This reclassification resulted in an increase of $2,787 to the Partnership's Limited Partners-Common and a decrease of $2,787 to the company's Limited Partners-Preferred. | |
Property Plant And Equipment | ||
Number of vessels | 33 | |
Limited Partners Common
|
||
Statement [Line Items] | ||
Conversion of Partnership's units | $ 7,900 | $ 2,787 |
Limited Partners Preferred
|
||
Statement [Line Items] | ||
Conversion of Partnership's units | $ (10,642) | $ (2,787) |
Class B Convertible Preferred Units
|
||
Statement [Line Items] | ||
Number of Class B convertible preferred units converted to common units | 1,240,404 | 350,000 |
Suezmax Crude Oil Tankers
|
||
Property Plant And Equipment | ||
Number of vessels | 4 | |
Medium Range Tankers
|
||
Property Plant And Equipment | ||
Number of vessels | 20 | |
Post Panamax Container Carrier Vessels
|
||
Property Plant And Equipment | ||
Number of vessels | 8 | |
Capesize Bulk Carrier
|
||
Property Plant And Equipment | ||
Number of vessels | 1 |
X | ||||||||||
- Definition
Describes nature and related effect on financial statements related to corrections of prior year errors in the current year financial statements when the effect of the prior year error was immaterial to the prior year financial statements. No definition available.
|
X | ||||||||||
- Definition
Number of vessels owned by the partnership. No definition available.
|
X | ||||||||||
- Definition
The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period 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
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Total change in each class of partners' capital accounts during the year due to exchanges and conversions. Partners include general, limited and preferred partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
X | ||||||||||
- Details
|
X | ||||||||||
- Details
|
Transactions with Related Parties - Unaudited Condensed Consolidated Balance Sheets (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
---|---|---|
Assets: | ||
Due from related parties | $ 2,227 | $ 55 |
Advances for vessels under construction - related party (Note 4) | 36,318 | 66,641 |
Total assets | 38,545 | 66,696 |
Liabilities: | ||
Due to related parties | 17,786 | 17,497 |
Deferred revenue - current (e) | 11,563 | 11,684 |
Hire receivable (c)
|
||
Assets: | ||
Due from related parties | 2,227 | 55 |
Advances for vessels under construction - related party (Note 4)
|
||
Assets: | ||
Advances for vessels under construction - related party (Note 4) | 36,318 | 66,641 |
Manager - payments on behalf of the Partnership (a)
|
||
Liabilities: | ||
Due to related parties | 16,828 | 16,517 |
Management fee payable to CSM (b)
|
||
Liabilities: | ||
Due to related parties | 958 | 980 |
Capital Maritime And Trading Corp
|
||
Liabilities: | ||
Deferred revenue - current (e) | 4,747 | 6,020 |
Total liabilities | $ 22,533 | $ 23,517 |
X | ||||||||||
- Definition
This element represents advances to a related party for vessels under construction and the excess between the fair value and the contractual cash consideration for these vessels. 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
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 - Unaudited Condensed Consolidated Statements of Comprehensive Income (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | |
---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Related Party Transaction | ||
Revenues (c) | $ 36,052 | $ 33,632 |
Voyage expenses | 206 | 161 |
Vessel operating expenses | 5,863 | 7,532 |
General and administrative expenses (d) | 3,173 | 2,890 |
Capital Maritime And Trading Corp
|
||
Related Party Transaction | ||
Revenues (c) | 36,052 | 33,632 |
Voyage expenses | 206 | 161 |
Vessel operating expenses | 5,863 | 7,532 |
General and administrative expenses (d) | $ 1,278 | $ 1,495 |
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 |
6 Months Ended | 5 Months Ended | ||||
---|---|---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2015
Capital Ship Management Corp
|
Jun. 30, 2014
Capital Ship Management Corp
|
Jun. 09, 2011
Capital Ship Management Corp
Floating fee management agreement
|
Sep. 30, 2011
Capital Ship Management Corp
Crude Carriers Corp. ("Crude") management agreement
|
Mar. 31, 2015
Capital Product Partners LP Adjusted Fee Payable
|
|
Related Party Transaction | ||||||
Number of vessels | 33 | 5 | ||||
Management agreement initial term, per managed vessel | 5 | |||||
Sales and purchase fee | 1.00% | |||||
Commercial service fee | 1.25% | |||||
Management agreement termination fees | $ 9,760 | |||||
Additional fees related to unforeseen events | $ 268 | $ 640 |
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
The initial term of the management agreement per managed vessel. No definition available.
|
X | ||||||||||
- Definition
Number of vessels owned by the partnership. 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
|
Fixed Assets - Advances for vessels under construction - related party (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | ||
---|---|---|---|
Jun. 30, 2015
|
Dec. 31, 2014
|
Jun. 30, 2015
Related party
|
|
Property Plant And Equipment [Line Items] | |||
Balance as at beginning of period, | $ 36,318 | $ 66,641 | $ 66,641 |
Additions | 0 | ||
Transfer to vessels | (30,323) | ||
Balance as at end of period, | $ 36,318 | $ 66,641 | $ 36,318 |
X | ||||||||||
- Definition
This element represents advances to a related party for vessels under construction and the excess between the fair value and the contractual cash consideration for these vessels. No definition available.
|
X | ||||||||||
- Definition
This element represents advances to a related party for vessels under construction and the excess between the fair value and the contractual cash consideration for these vessels, amount transferred to vessels. No definition available.
|
X | ||||||||||
- Definition
This element represents advances to a related party for vessels under construction and the excess between the fair value and the contractual cash consideration for these vessels, additions. No definition available.
|
X | ||||||||||
- Details
|
Fixed assets - Vessels, net (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | ||||
---|---|---|---|---|---|
Jun. 30, 2015
|
Dec. 31, 2014
|
Jun. 30, 2015
Vessel Cost
|
Jun. 30, 2015
Accumulated depreciation
|
Jun. 30, 2015
Net book value
|
|
Property Plant And Equipment | |||||
Balance as at beginning of period | $ 1,396,735 | ||||
Balance as at beginning of period | (276,665) | ||||
Balance as at beginning of period | 1,255,553 | 1,120,070 | 1,120,070 | ||
Acquisition and improvements | 134,173 | 134,173 | |||
Transfer from Advances for vessels under construction - related party | 30,323 | 30,323 | |||
Depreciation for the period | (29,013) | (29,013) | |||
Balance as at end of period | 1,561,231 | ||||
Balance as at end of period | (305,678) | ||||
Balance as at end of period | $ 1,255,553 | $ 1,120,070 | $ 1,255,553 |
X | ||||||||||
- Definition
This element represents costs for acquisitions and capitalized improvements of vessels. No definition available.
|
X | ||||||||||
- Definition
The gross amount of vessel cost which consists of the contract price and any expenses that were capitalized. No definition available.
|
X | ||||||||||
- Definition
This element represents vessels' book value, net of accumulated depreciation. No definition available.
|
X | ||||||||||
- Definition
This element represents transfers from vessels under construction, related party. No definition available.
|
X | ||||||||||
- Definition
Amount of accumulated depreciation, depletion and amortization for physical assets used in the normal conduct of business to produce goods and services. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
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 | ||||||||||
- Details
|
Fixed Assets - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 3 Months Ended | 5 Months Ended | 6 Months Ended | 8 Months Ended | 7 Months Ended | 6 Months Ended | 7 Months Ended | 6 Months Ended | 12 Months Ended | 6 Months Ended | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2015
|
Apr. 30, 2015
Credit Facility 370000 [Member]
|
Apr. 30, 2015
Credit Facility 350000 [Member]
|
Apr. 30, 2015
Credit Facility 25000 [Member]
|
Mar. 27, 2015
Senior Secured Credit Facility 225000 [Member]
|
Jun. 08, 2015
Senior Secured Credit Facility 225000 [Member]
|
Jun. 29, 2015
Senior Secured Credit Facility 225000 [Member]
|
Jun. 30, 2015
Senior Secured Credit Facility 225000 [Member]
|
Aug. 31, 2014
Master Agreement
|
Sep. 10, 2014
Master Agreement
|
Jul. 24, 2014
Master Agreement
|
Jul. 24, 2014
Master Agreement Product Carriers
|
Jun. 30, 2015
Master Agreement Post Panamax
|
Jul. 24, 2014
Master Agreement Post Panamax
|
Jun. 30, 2015
M/T Active
|
Jun. 30, 2015
M/V Akadimos (renamed to "CMA CGM Amazon")
|
Jun. 30, 2015
M/T Amadeus
|
Jun. 30, 2015
M/T Active, M/V Akadimos (renamed to "CMA CGM Amazon"), and MT Amadeus
|
Dec. 31, 2014
M/T Active, M/V Akadimos (renamed to "CMA CGM Amazon"), and MT Amadeus
|
Jun. 30, 2015
M/T Agisilaos, M/T Avax and M/T Akeraios
|
|
Property Plant And Equipment | ||||||||||||||||||||
Number of vessels | 33 | 5 | 2 | 3 | 3 | |||||||||||||||
Advances for vessels under construction - related party | $ 30,224 | $ 15,818 | $ 14,407 | |||||||||||||||||
Excess between the fair value of the contracted vessels and the contractual cash consideration | 36,417 | 20,500 | 15,916 | |||||||||||||||||
Fair value of vessels under construction acquired | 347,917 | |||||||||||||||||||
Fair value of vessels acquired | 36,333 | 91,750 | 36,333 | 164,416 | ||||||||||||||||
Date of vessel acquisition / sale | Mar. 31, 2015 | Jun. 10, 2015 | Jun. 30, 2015 | |||||||||||||||||
DWT | 50,000 | |||||||||||||||||||
TEU | 9,288 | 9,288 | ||||||||||||||||||
Amount of available cash paid for acquisition of vessel | 76,111 | |||||||||||||||||||
Cash consideration for acquisition of vessel | 33,500 | 81,500 | 33,500 | 148,500 | ||||||||||||||||
Line of credit facility, maximum borrowing capacity | 370,000 | 350,000 | 25,000 | 225,000 | 225,000 | |||||||||||||||
Line of credit facility amount drawn down | 16,750 | 40,750 | 14,889 | 72,389 | ||||||||||||||||
Contracted price | 311,500 | |||||||||||||||||||
Vessel improvement costs capitalized | $ 80 |
X | ||||||||||
- Definition
This element represents advances to a related party for vessels under construction. No definition available.
|
X | ||||||||||
- Definition
The total cost of the entities that will be acquired. No definition available.
|
X | ||||||||||
- Definition
Cash consideration for the acquisition of a vessel. No definition available.
|
X | ||||||||||
- Definition
Amount of available cash paid to acquire the entity. 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 vessels under construction at the time of the agreement to acquire the vessels. No definition available.
|
X | ||||||||||
- Definition
This value represents the excess between the fair value of the contracted vessels and the contractual cash consideration. 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
Number of vessels owned by the partnership. No definition available.
|
X | ||||||||||
- Definition
This element represents costs for acquisitions and capitalized improvements of vessels. No definition available.
|
X | ||||||||||
- Definition
The vessels' size in DWT. No definition available.
|
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 | ||||||||||
- Details
|
X | ||||||||||
- Definition
Date of acquisition or disposal, in CCYY-MM-DD format. No definition available.
|
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. No definition available.
|
X | ||||||||||
- Details
|
Above market acquired charters - Amortization Schedule (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2015
|
Dec. 31, 2014
|
---|---|---|
For the twelve month period ended June 30, | ||
2016 | $ 14,070 | |
2017 | 13,729 | |
2018 | 13,729 | |
2019 | 13,729 | |
2020 | 13,744 | |
Thereafter | 38,750 | |
Total | 107,751 | 115,382 |
M/V Cape Agamemnon
|
||
For the twelve month period ended June 30, | ||
2016 | 5,372 | |
2017 | 5,357 | |
2018 | 5,357 | |
2019 | 5,357 | |
2020 | 5,358 | |
Thereafter | 0 | |
Total | 26,801 | 29,457 |
M/V Agamemnon
|
||
For the twelve month period ended June 30, | ||
2016 | 72 | |
2017 | 0 | |
2018 | 0 | |
2019 | 0 | |
2020 | 0 | |
Thereafter | 0 | |
Total | 72 | 500 |
M/V Archimidis
|
||
For the twelve month period ended June 30, | ||
2016 | 241 | |
2017 | 0 | |
2018 | 0 | |
2019 | 0 | |
2020 | 0 | |
Thereafter | 0 | |
Total | 241 | 636 |
M/V Hyundai Premium
|
||
For the twelve month period ended June 30, | ||
2016 | 1,668 | |
2017 | 1,668 | |
2018 | 1,668 | |
2019 | 1,668 | |
2020 | 1,668 | |
Thereafter | 7,561 | |
Total | 15,901 | 16,728 |
M/V Hyundai Paramount
|
||
For the twelve month period ended June 30, | ||
2016 | 1,670 | |
2017 | 1,670 | |
2018 | 1,670 | |
2019 | 1,670 | |
2020 | 1,670 | |
Thereafter | 7,680 | |
Total | 16,030 | 16,858 |
M/V Hyundai Prestige
|
||
For the twelve month period ended June 30, | ||
2016 | 1,697 | |
2017 | 1,693 | |
2018 | 1,693 | |
2019 | 1,693 | |
2020 | 1,697 | |
Thereafter | 7,569 | |
Total | 16,042 | 16,882 |
M/V Hyundai Privilege
|
||
For the twelve month period ended June 30, | ||
2016 | 1,676 | |
2017 | 1,672 | |
2018 | 1,672 | |
2019 | 1,672 | |
2020 | 1,677 | |
Thereafter | 7,947 | |
Total | 16,316 | 17,144 |
M/V Hyundai Platinum
|
||
For the twelve month period ended June 30, | ||
2016 | 1,674 | |
2017 | 1,669 | |
2018 | 1,669 | |
2019 | 1,669 | |
2020 | 1,674 | |
Thereafter | 7,993 | |
Total | $ 16,348 | $ 17,177 |
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 |
6 Months Ended | |
---|---|---|
Jun. 30, 2015
|
Dec. 31, 2014
|
|
Debt Instrument | ||
Total debt | $ 531,705 | $ 577,915 |
Less: Current portion | 7,847 | 5,400 |
Long-term portion | 523,858 | 572,515 |
(i) Issued in April 2007 maturing in December, 2019 ($370,000 credit facility)
|
||
Debt Instrument | ||
Total debt | 185,975 | 250,850 |
Margin | 3.00% | |
(ii) Issued in March 2008 maturing in December, 2019 ($350,000 credit facility)
|
||
Debt Instrument | ||
Total debt | 184,341 | 233,065 |
Margin | 3.00% | |
(iii) Issued in June 2011 maturing in March 2018 ($25,000 credit facility)
|
||
Debt Instrument | ||
Total debt | 14,000 | 19,000 |
Margin | 3.25% | |
(iv) Issued in September 2013 maturing in December 2020 ($225,000 credit facility)
|
||
Debt Instrument | ||
Total debt | $ 147,389 | $ 75,000 |
Margin | 3.50% |
X | ||||||||||
- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. 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 - Additional Information (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended | 3 Months Ended | 5 Months Ended | 6 Months Ended | 4 Months Ended | 6 Months Ended | 4 Months Ended | |||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
Mar. 27, 2015
$225,000 Senior Secured Credit Facility
|
Jun. 08, 2015
$225,000 Senior Secured Credit Facility
|
Jun. 29, 2015
$225,000 Senior Secured Credit Facility
|
Jun. 30, 2015
$225,000 Senior Secured Credit Facility
|
Apr. 30, 2015
$370,000 Credit Facility
|
Jun. 30, 2015
$370,000 Credit Facility
|
Jun. 30, 2015
$370,000 Credit Facility
Prior to amendment
|
Jun. 30, 2015
$370,000 Credit Facility
After the amendmet
|
Apr. 30, 2015
$350,000 Credit Facility
|
Apr. 30, 2015
$25,000 Credit Facility
|
|
Debt Instrument | ||||||||||||
Line of credit facility, maximum borrowing capacity | $ 225,000 | $ 370,000 | $ 350,000 | $ 25,000 | ||||||||
Line of credit facility amount drawn down | 16,750 | 40,750 | 14,889 | |||||||||
Prepayments of four scheduled amortization payments | 64,875 | 46,024 | 5,000 | |||||||||
Deferral of scheduled amortization payments | November 2017 | November 2017 | December 2017 | |||||||||
Debt variable rate basis | LIBOR | |||||||||||
Credit facility margin | 2.00% | 3.00% | ||||||||||
Interest expense on long term debt | $ 8,230 | $ 8,196 | ||||||||||
Weighted average interest rate | 3.34% |
X | ||||||||||
- Definition
The deferral period of scheduled amortization payments. No definition available.
|
X | ||||||||||
- Definition
Aggregate amount of the prepayment of a number of required periodic payments applied to principal. No definition available.
|
X | ||||||||||
- Definition
Line of credit facility amount drawn down. No definition available.
|
X | ||||||||||
- Definition
Percentage points added to the reference rate to compute the variable rate on the debt instrument. No definition available.
|
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 the cost of borrowed funds accounted for as interest expense. 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
Weighted average interest rate of long-term debt outstanding. No definition available.
|
Partners' Capital - Partnership Units (Table) (Details)
|
Jun. 30, 2015
|
Dec. 31, 2014
|
---|---|---|
Partners' Capital (Abstract) | ||
Limited partner units | 119,559,456 | 104,079,960 |
General partner units | 2,439,989 | 2,124,081 |
Preferred partner units | 12,983,333 | 14,223,737 |
Total partnership units | 134,982,778 | 120,427,778 |
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 - Distributions to Unitholders (Table) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
1 Months Ended | 3 Months Ended | 7 Months Ended | 1 Months Ended | 3 Months Ended | 7 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2015
|
Dec. 31, 2014
|
Jan. 23, 2015
Common Unitholders
|
Jan. 22, 2014
Common Unitholders
|
Apr. 23, 2015
Common Unitholders
|
Apr. 22, 2014
Common Unitholders
|
Jul. 23, 2015
Common Unitholders
|
Jan. 23, 2015
Preferred unit-holders
|
Jan. 22, 2014
Preferred unit-holders
|
Apr. 23, 2015
Preferred unit-holders
|
Apr. 22, 2014
Preferred unit-holders
|
Jul. 23, 2015
Preferred unit-holders
|
|
Distributions per unit declared | $ 0.2325 | $ 0.2325 | $ 0.2345 | $ 0.2325 | $ 0.2365 | $ 0.21375 | $ 0.21375 | $ 0.21575 | $ 0.21375 | $ 0.21775 | ||
Common units entitled to distribution | 119,559,456 | 104,079,960 | 104,079,960 | 88,440,710 | 119,559,456 | 88,490,710 | ||||||
Preferred units entitled to distribution | 12,983,333 | 14,223,737 | 14,223,737 | 18,922,211 | 12,983,333 | 18,872,221 | ||||||
General partner and IDR distributions | $ 494 | $ 410 | $ 572 | $ 411 |
X | ||||||||||
- Definition
The number of common partnership units outstanding. 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
|
X | ||||||||||
- Definition
The total amount of distributions to the general partner during the period. 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 |
4 Months Ended | 6 Months Ended | 6 Months Ended | 4 Months Ended | 6 Months Ended | 12 Months Ended | |||||
---|---|---|---|---|---|---|---|---|---|---|---|
Apr. 30, 2015
|
Jun. 30, 2015
|
Apr. 30, 2015
$370,000 Credit Facility
|
Apr. 30, 2015
$350,000 Credit Facility
|
Apr. 30, 2015
$25,000 Credit Facility
|
Jun. 30, 2015
Class B Convertible Preferred Units
|
Jun. 30, 2014
Class B Convertible Preferred Units
|
Apr. 30, 2015
Underwriters Exercise of Overallotment Options
|
Apr. 30, 2015
CMTC
|
Jun. 30, 2015
CMTC
|
Dec. 31, 2014
CMTC
|
|
Business Acquisition | |||||||||||
Equity offering | 14,555,000 | 1,755,000 | |||||||||
Net price per common unit | $ 9.53 | ||||||||||
Net proceeds from equity offering | $ 133,327 | ||||||||||
Units purchased | 1,100,000 | ||||||||||
Common Units converted to General Partner Units | 315,908 | 0 | |||||||||
Number of Class B convertible preferred units converted to common units | 1,240,404 | 350,000 | |||||||||
Interest of CGP in the partnership | 2.00% | 2.00% | |||||||||
Issuance of partnership's units | 132,588 | ||||||||||
Line of credit facility, maximum borrowing capacity | $ 370,000 | $ 350,000 | $ 25,000 |
X | ||||||||||
- Definition
The net price per common unit. 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
The cash inflow from the issuance of common limited partners units during the period, net of the underwriters commissions. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The number of shares converted in a noncash (or part noncash) transaction. Noncash is defined as transactions during a period 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
|
X | ||||||||||
- Definition
The number of limited partner units issued. 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
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 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
|
Net Income Per Unit (Table) (Details) (USD $)
In Thousands, except Share data, unless otherwise specified |
6 Months Ended | |
---|---|---|
Jun. 30, 2015
|
Jun. 30, 2014
|
|
Net Income Per Unit [Abstract] | ||
Partnership's net income | $ 26,260 | $ 19,058 |
Less: | ||
Partnership's net income available to preferred unit holders | 5,628 | 8,004 |
General Partner's interest in Partnership's net income | 411 | 216 |
Partnership's net income available to common unit holders | $ 20,221 | $ 10,838 |
Denominators | ||
Weighted average number of common units outstanding, basic and diluted | 110,427,242 | 88,494,025 |
Net income per common unit: | ||
Basic and diluted | $ 0.18 | $ 0.12 |
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/loss allocated to outstanding common units. No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
The amount of net income or loss for the period per each share in instances when basic and diluted earnings per share are the same amount and reported as a single line item on the face of the financial statements. Basic earnings per share is the amount of net income or loss for the period per each share of common stock or unit outstanding during the reporting period. Diluted earnings per share includes the amount of net income or loss for the period available to each share of common stock or common unit outstanding during the reporting period and to each share or unit that would have been outstanding assuming the issuance of common shares or units for all dilutive potential common shares or units outstanding during the reporting period. No definition available.
|
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
Average number of shares or units issued and outstanding that are used in calculating basic and diluted earnings per share (EPS). No definition available.
|
X | ||||||||||
- Details
|
Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) (USD $)
In Thousands, unless otherwise specified |
Jun. 30, 2015
|
---|---|
Commitments and Contingencies (Abstract) | |
2016 | $ 198,375 |
2017 | 144,502 |
2018 | 107,424 |
2019 | 83,293 |
2020 | 81,519 |
Thereafter | 248,126 |
Total | $ 863,239 |
X | ||||||||||
- Details
|
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
|
Commitments and Contingencies - Vessel Purchase Commitments (Details) (USD $)
In Thousands, unless otherwise specified |
6 Months Ended |
---|---|
Jun. 30, 2015
|
|
Vessel Purchase Commitments | |
Outstanding purchase commitments within next twelve months | $ 147,182 |
TEU | 9,288 |
X | ||||||||||
- Definition
The vessels' capacity in twenty-foot equivalent unit (TEU). No definition available.
|
X | ||||||||||
- Details
|
X | ||||||||||
- Definition
Amount of the fixed and determinable portion of the unrecorded unconditional purchase obligation maturing in the next rolling twelve months following the latest balance sheet. For interim and annual periods when interim periods are reported on a rolling approach, from latest balance sheet date. No definition available.
|
Subsequent Events (Details) (USD $)
|
1 Months Ended | 3 Months Ended | 7 Months Ended | 1 Months Ended | 3 Months Ended | 7 Months Ended | ||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|
Jan. 23, 2015
Common Unitholders
|
Jan. 22, 2014
Common Unitholders
|
Apr. 23, 2015
Common Unitholders
|
Apr. 22, 2014
Common Unitholders
|
Jul. 23, 2015
Common Unitholders
|
Aug. 14, 2015
Common Unitholders
|
Jan. 23, 2015
Preferred unit-holders
|
Jan. 22, 2014
Preferred unit-holders
|
Apr. 23, 2015
Preferred unit-holders
|
Apr. 22, 2014
Preferred unit-holders
|
Jul. 23, 2015
Preferred unit-holders
|
Aug. 10, 2015
Preferred unit-holders
|
|
Dividend declared | $ 0.2325 | $ 0.2325 | $ 0.2345 | $ 0.2325 | $ 0.2365 | $ 0.21375 | $ 0.21375 | $ 0.21575 | $ 0.21375 | $ 0.21775 | ||
Dividend paid | $ 0.2365 | $ 0.21775 |
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
|
X | ||||||||||
- Definition
Per unit of ownership amount of cash distributions paid to unit-holder of a limited partnership (LP). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|