Document And Entity Information |
6 Months Ended |
|---|---|
|
Jun. 30, 2016
shares
| |
| Document and Entity Information | |
| Document Type | 6-K |
| Document Period End Date | Jun. 30, 2016 |
| 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 | 2016 |
| Document Fiscal Period Focus | Q2 |
| General Partner | |
| Document and Entity Information | |
| Entity's units outstanding | 2,439,989 |
| Common Limited Partner | |
| Document and Entity Information | |
| Entity's units outstanding | 120,409,456 |
| Preferred Limited Partner | |
| Document and Entity Information | |
| Entity's units outstanding | 12,983,333 |
| X | ||||||||||
- Definition If the value is true, then the document is an amendment to previously-filed/accepted document. No definition available.
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| X | ||||||||||
- Definition End date of current fiscal year in the format --MM-DD. No definition available.
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| X | ||||||||||
- Definition This is focus fiscal period of the document report. For a first quarter 2006 quarterly report, which may also provide financial information from prior periods, the first fiscal quarter should be given as the fiscal period focus. Values: FY, Q1, Q2, Q3, Q4, H1, H2, M9, T1, T2, T3, M8, CY. No definition available.
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| X | ||||||||||
- Definition This is focus fiscal year of the document report in CCYY format. For a 2006 annual report, which may also provide financial information from prior periods, fiscal 2006 should be given as the fiscal year focus. Example: 2006. No definition available.
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Definition The end date of the period reflected on the cover page if a periodic report. For all other reports and registration statements containing historical data, it is the date up through which that historical data is presented. If there is no historical data in the report, use the filing date. The format of the date is CCYY-MM-DD. No definition available.
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| X | ||||||||||
- Definition The type of document being provided (such as 10-K, 10-Q, 485BPOS, etc). The document type is limited to the same value as the supporting SEC submission type, or the word "Other". No definition available.
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| X | ||||||||||
- Definition A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Indicate number of shares or other units outstanding of each of registrant's classes of capital or common stock or other ownership interests, if and as stated on cover of related periodic report. Where multiple classes or units exist define each class/interest by adding class of stock items such as Common Class A [Member], Common Class B [Member] or Partnership Interest [Member] onto the Instrument [Domain] of the Entity Listings, Instrument. No definition available.
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| X | ||||||||||
- Definition Indicate "Yes" or "No" whether registrants (1) have filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that registrants were required to file such reports), and (2) have been subject to such filing requirements for the past 90 days. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
- Definition Indicate whether the registrant is one of the following: (1) Large Accelerated Filer, (2) Accelerated Filer, (3) Non-accelerated Filer, (4) Smaller Reporting Company (Non-accelerated) or (5) Smaller Reporting Accelerated Filer. Definitions of these categories are stated in Rule 12b-2 of the Exchange Act. This information should be based on the registrant's current or most recent filing containing the related disclosure. No definition available.
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| X | ||||||||||
- Definition The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Indicate "Yes" or "No" if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Act. No definition available.
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| X | ||||||||||
- Definition Indicate "Yes" or "No" if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Is used on Form Type: 10-K, 10-Q, 8-K, 20-F, 6-K, 10-K/A, 10-Q/A, 20-F/A, 6-K/A, N-CSR, N-Q, N-1A. No definition available.
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| X | ||||||||||
- Definition Trading symbol of an instrument as listed on an exchange. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition The non-current portion of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
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| X | ||||||||||
- Definition This element represents advances to a related party for vessels under construction or the excess between the fair value and the contractual cash consideration for these vessels, or both. No definition available.
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| X | ||||||||||
- Definition This element represents vessels' book value, net of accumulated depreciation. No definition available.
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| 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
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount due from customers or clients, within one year of the balance sheet date (or the normal operating cycle, whichever is longer), for goods or services (including trade receivables) that have been delivered or sold in the normal course of business, reduced to the estimated net realizable fair value by an allowance established by the entity of the amount it deems uncertain of collection. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Carrying value as of the balance sheet date of obligations incurred and payable, pertaining to costs that are statutory in nature, are incurred on contractual obligations, or accumulate over time and for which invoices have not yet been received or will not be rendered. Examples include taxes, interest, rent and utilities. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all assets that are recognized. Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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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 within one year (or the normal operating cycle, if longer). Assets are probable future economic benefits obtained or controlled by an entity as a result of past transactions or events. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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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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| X | ||||||||||
- Definition Represents the caption on the face of the balance sheet to indicate that the entity has entered into (1) purchase or supply arrangements that will require expending a portion of its resources to meet the terms thereof, and (2) is exposed to potential losses or, less frequently, gains, arising from (a) possible claims against a company's resources due to future performance under contract terms, and (b) possible losses or likely gains from uncertainties that will ultimately be resolved when one or more future events that are deemed likely to occur do occur or fail to occur. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts of deferred costs that are expected to be recognized as a charge against earnings in periods after one year or beyond the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The noncurrent portion of deferred revenue amount as of balance sheet date. Deferred revenue is a liability related to a revenue producing activity for which revenue has not yet been recognized, and is not expected to be recognized in the next twelve months. Generally, an entity records deferred revenue when it receives consideration from a customer before achieving certain criteria that must be met for revenue to be recognized in conformity with GAAP. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after valuation and LIFO reserves of inventory expected to be sold, or consumed within one year or operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Sum of the carrying amounts as of the balance sheet date of all liabilities that are recognized. Liabilities are probable future sacrifices of economic benefits arising from present obligations of an entity to transfer assets or provide services to other entities in the future. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt, classified as current. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Amount of asset related to consideration paid in advance for costs that provide economic benefits in future periods, and amount of other assets that are expected to be realized or consumed within one year or the normal operating cycle, if longer. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Amount after accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business to produce goods and services and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- 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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| X | ||||||||||
- Definition Revenues arising from services provided to charterers according to the terms and conditions included in each time, voyage and bare boat charter agreement. No definition available.
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| 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.
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| 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.
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| X | ||||||||||
- Definition Aggregate amount of net income allocated to common unitholders. No definition available.
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| X | ||||||||||
- Definition Vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
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| X | ||||||||||
- Definition Related party vessel operating expenses consist of crewing, repairs and maintenance, insurance, stores, spares, lubricants, management fees and miscellaneous expenses. No definition available.
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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount after tax of increase (decrease) in equity from transactions and other events and circumstances from net income and other comprehensive income, attributable to parent entity. Excludes changes in equity resulting from investments by owners and distributions to owners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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| 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
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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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| X | ||||||||||
- Definition Aggregate amount of net income allocated to general partners. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The net result for the period of deducting operating expenses from operating revenues. No definition available.
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| X | ||||||||||
- Definition Amount of income (expense) related to nonoperating activities, classified as other. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
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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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| X | ||||||||||
- References No definition available.
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| 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.
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| X | ||||||||||
- Definition This element represents the amount of recognized equity-based compensation during the period, that is, the amount recognized as expense in the income statement (or as asset if compensation is capitalized). Alternate captions include the words "stock-based compensation". Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition The amount of ownership interest of different classes of partners in limited partnership. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total contributions made by each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Total distributions to each class of partners (i.e., general, limited and preferred partners). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition 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 | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Unaudited Consensed Consolidated Statements of Changes in Partners' Capital (Parentheticals) - $ / shares |
6 Months Ended | |
|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
| Limited Partners Common | ||
| Distributions declared and paid | $ 0.31 | $ 0.47 |
| Limited Partners Preferred | ||
| Distributions declared and paid | $ 0.43 | $ 0.43 |
| X | ||||||||||
- Definition Refers to the amount of distribution per-unit, declared and paid to limited, class B preferred, general partners and other class of interests. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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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 deferred costs included in liabilities. No definition available.
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| X | ||||||||||
- Definition Capitalized 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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| X | ||||||||||
- 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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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of amortization expense attributable to debt issuance costs. 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 | ||||||||||
- References No definition available.
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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 | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition Amount of increase (decrease) in prepaid expenses, and assets classified as other. 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 | ||||||||||
- References No definition available.
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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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| X | ||||||||||
- References No definition available.
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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 | ||||||||||
- References No definition available.
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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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| X | ||||||||||
- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- References No definition available.
|
Basis Of Presentation and General Information |
6 Months Ended |
|---|---|
Jun. 30, 2016 | |
| 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 five 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, ten post panamax container carrier vessels, and one capesize bulk carrier. Its vessels are capable of carrying a wide range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil and jet fuel, edible oils and certain chemicals such as ethanol as well as dry cargo and containerized goods under short-term voyage charters and medium to long-term time and bareboat charters.
The 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 Partnership's Annual Report on Form 20-F for the fiscal year ended December 31, 2015, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 17, 2016.
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 only 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, 2016 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2016.
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| X | ||||||||||
- References No definition available.
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- Definition The entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Significant Accounting Policies |
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Jun. 30, 2016 | |||
| 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 included in the Annual Report on Form 20-F for the year ended December 31, 2015 (the “Consolidated Financial Statements for the year ended December 31, 2015”).
Recent Accounting Pronouncements:
In March 2016, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standard Update (“ASU”) No 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard.
In February 2016, the Financial Accounting Standards Board (“FASB”) issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The FASB decided to not fundamentally change lessor accounting. However, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within U.S. GAAP. This update is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard.
In July 2015, the FASB issued ASU 2015-11, to simplify the measurement of inventory using first-in, first-out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is permitted. The Partnership believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.
On May 28, 2014, the FASB issued Accounting Standard Update (“ASU”) No 2014-09 as amended by ASU 2016-08 which was issued in March 2016, ASU 2016-10 which was issued in April 2016 and ASU 2016-12 which was issued in May 2016, 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, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. The Company is currently evaluating the impact, if any, of the adoption of this new standard.
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- References No definition available.
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- Definition The entire disclosure for all significant accounting policies of the reporting entity. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Transactions with Related Parties |
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| Transactions with Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Transactions with Related Parties |
The Partnership and its subsidiaries, have related-party transactions with Capital Maritime & Trading Corp. (“CMTC”) which is a related party unit holder. The Partnership and its subsidiaries have also related party transactions with Capital Ship Management Corp. (the “Manager” or “CSM”) arising from 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 2016 this termination fee was adjusted to $9,858 from $9,760.
All the above three agreements constitute the “Management Agreements” and the related management fees are included in “Vessel operating expenses - related party” in the accompanying condensed consolidated statements of comprehensive income.
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, 2016 and 2015 such fees amounted to $99 and $268 respectively and are included in “Vessel operating expenses - related party” in the accompanying condensed consolidated statements of comprehensive income.
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, and other administrative services.
Also the Partnership reimburses the Manager and its general partner, Capital GP L.L.C. (the “CGP”) for reasonable costs and expenses incurred in connection with the provision of these services after the Manager submits to the Partnership an invoice for such costs and expenses, together with any supporting detail that may be reasonably required. These expenses are included in general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income. The Partnership has also entered into an executive services agreement with CGP according to which CGP provides certain executive officers services for the management of the Partnership's business as well as investor relation and corporate support services to the Partnership. For the six months period ended June 30, 2016 and 2015 such fees amounted to $844 and $810 respectively, and are included in “General and administrative expenses” in the accompanying condensed consolidated statements of comprehensive income.
Balances and transactions with related parties consisted of the following:
(c) Revenues: The following table includes information regarding the charter agreements that were in place between the Partnership and
CMTC during the six month periods ended June 30, 2016 and 2015:
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- References No definition available.
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- Definition 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, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Fixed assets [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Fixed assets |
(a) Advances for vessels under construction - related party
An analysis of advances for vessels under construction - related party is as follows:
As of June 30, 2016 there were no advances for vessels under construction-related party, as the Partnership acquired the vessel-owning company of the M/V Anaxagoras (renamed to “CMA CGM Magdalena”), which was the last out of the five vessels the Partnership agreed to acquire from CMTC according to the terms of the Master Agreement. Details about the Master Agreement were discussed in Note 5a of the Partnership's Consolidated Financial Statements for the year ended December 31, 2015.
(b) Vessels, net
An analysis of vessels is as follows:
All of the Partnership's vessels as of June 30, 2016 have been provided as collateral to secure the Partnership's credit facilities.
On February 26, 2016, the Partnership acquired the shares of the vessel-owning company of the M/V CMA CGM Magdalena for a total consideration of $81,500 which was funded by loan drawdown of $35,000 from the Partnership's 2013 credit facility (Note 6) and the remaining balance of $46,500 through the Partnership's available cash. The Partnership accounted for this acquisition as acquisition of asset based on the absence of processes attached to the inputs. Other than the new building and the attached time charter, no other inputs and no processes were acquired. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the contracted daily charter rate was above the market rates on the transaction completion date and therefore, the total consideration was allocated to the vessel cost and the above market acquired charter. Thus the vessel was recorded in the Partnership's financial statements at a cost of $88,544 and the above market acquired charter at a cost of $3,206 (Note 5). As of December 31, 2015 the Partnership had paid advances of $7,922 to CMTC for the acquisition of the shares of this vessel-owning company. The difference of $10,250 between the cost of the vessel and the above market acquired charter of $91,750 and the total consideration of $81,500 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 IDRs reset at the Partnership's annual meeting.
During the six month period ended June 30, 2016, the M/T Alkiviadis, the M/T Anemos I, the M/T Amore Mio II and the M/T Miltiadis M II underwent improvements during their scheduled special survey. The costs of these improvements for these vessels amounted to $303 and were capitalized as part of the vessels' cost.
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- Definition 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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- References No definition available.
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Above market acquired charters |
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| Above market acquired charters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Above market acquired charters |
On February 26, 2016 the Partnership acquired the shares of the vessel-owning company of the M/V CMA CGM Magdalena from CMTC with outstanding time charter to CMA-CGM S.A., which was above the market rate for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charter was estimated by the Partnership at $3,206 and recorded as an asset in the consolidated balance sheet as of the acquisition date.
For the six month periods ended June 30, 2016 and 2015, revenues included a reduction of $7,060 and $7,631 as amortization of the above market acquired charters, respectively.
An analysis of above market acquired charters is as follows:
As of June 30, 2016 the remaining carrying amount of unamortized above market acquired time charters was $96,664 and will be amortized in future years as follows:
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- Definition The entire disclosure for above market acquired charters. No definition available.
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- References No definition available.
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Long-Term Debt |
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| Long-Term Debt [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Long-Term Debt |
As of June 30, 2016 and December 31, 2015 the Partnership's long-term debt consisted 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, 2015.
On February 23, 2016, the Partnership drew the amount of $35,000 from the Tranche B of its existing 2013 credit facility in order to partly finance the acquisition of the shares of the vessel-owning company of the M/V CMA CGM Magdalena (Note 4). During the six month period ended June 30, 2016 the Partnership repaid the amount of $8,677, in line with the amortization schedule of its 2013 credit facility. As of June 30, 2016 there were no undrawn amounts under the Partnership's credit facilities.
As of June 30, 2016 and December 31, 2015 the Partnership was in compliance with all financial debt covenants.
For the six month periods ended June 30, 2016 and 2015 interest expense amounted to $11,055 and $8,230, respectively. As of June 30, 2016 and 2015 the weighted average interest rate of the Partnership's loan facilities was 3.71% and 3.34% respectively.
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- References No definition available.
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- Definition The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Financial Instruments |
6 Months Ended |
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Jun. 30, 2016 | |
| Financial Instruments [Abstarct] | |
| Financial Instruments | 7. Financial Instruments
The Partnership follows the accounting guidance for financial instruments that establishes a framework for measuring fair value under generally accepted accounting principles, and expands disclosure about fair value measurements. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories:
Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date;
Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly;
Level 3: Inputs are unobservable inputs for the asset or liability.
The carrying value of cash and cash equivalents and restricted cash, which are considered Level 1 items as they represent liquid assets with short-term maturities, trade receivables, due from related parties, due to related parties, trade accounts payable and accrued liabilities approximates their fair value. The fair values of long-term variable rate bank loans approximate the recorded values, due to their variable interest being the LIBOR and due to the fact the lenders have the ability to pass on their funding cost to the Partnership under certain circumstances, which reflects their current assessed risk. We believe the terms of our loans are similar to those that could be procured as of June 30, 2016. LIBOR rates are observable at commonly quoted intervals for the full terms of the loans and hence bank loans are considered Level 2 items in accordance with the fair value hierarchy.
Financial instruments which potentially subject the Partnership to significant concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable. The Partnership places its cash and cash equivalents, consisting mostly of deposits with creditworthy financial institutions rated by qualified rating agencies. A limited number of financial institutions hold the Partnership's cash. Most of the Partnership's revenues were derived from a few charterers. As of June 30, 2016 and December 31, 2015 there were four and two customers, respectively, that accounted for more than 10% of the Partnership's revenues. The Partnership does not obtain rights of collateral from its charterers to reduce its credit risk.
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for derivative instruments and hedging activities including, but not limited to, risk management strategies, non-hedging derivative instruments, assets, liabilities, revenue and expenses, and methodologies and assumptions used in determining the amounts. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners' Capital |
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| Partners' Capital [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Partners' Capital |
As of June 30, 2016 and December 31, 2015 the Partnership's partners' capital was comprised of the following units:
For the six month period ended June 30, 2015 various investors, holders of Class B Convertible Preferred Units, (the “Class B Units” or “Preferred units”) converted 1,240,404 Class B Convertible Preferred Units into common units. During the six month period ended June 30, 2016 no such conversion occurred.
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, 2016 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, 2016 and 2015, the Partnership declared and paid the following distributions to its common and preferred unit holders:
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Definition The entire disclosure for the formation, structure, control and ownership of the partnership. Disclosures related to accounts comprising partners' capital. Includes balances of general partners' capital account, limited partners' capital account, preferred partners' capital account and total partners' capital account and units outstanding; accumulated other comprehensive income; amount and nature of changes to amount of partner's capital and units outstanding by class, rights and privileges for each class of units; distribution policies and distributions paid by unit class; impact of and correction of an error in previously issued financial statements; limitations of partners' liability; redemption, conversion and distribution policies; and deferred compensation related to the issuance of units. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Omnibus Incentive Compensation Plan |
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| Omnibus Incentive Compensation Plan [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Omnibus Incentive Compensation Plan |
On April 29, 2008, the board of directors approved the Partnership's Plan according to which the Partnership may issue a limited number of awards, not to exceed 500,000 units. The Plan was amended on July 22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 800,000 which was then increased to 1,650,000 common units on August 21, 2014, at the annual general meeting of the Partnership's unit holders. The Plan is administered by the general partner as authorized by the board of directors. The persons eligible to receive awards under the Plan are officers, directors, and executive, managerial, administrative and professional employees of the Manager, or CMTC, or other eligible persons (collectively, “key persons”) as the general partner, in its sole discretion, shall select based upon such factors as it deems relevant. Members of the board of directors and officers of the general partner are considered to be employees of the Partnership (“Employees”) for the purposes of recognition of equity compensation expense, while employees of the Manager, CMTC and other eligible persons under the plan are not considered to be employees of the Partnership (“Non-Employees”). Awards may be made under the Plan in the form of incentive stock options, non-qualified stock options, stock appreciation rights, dividend equivalent rights, restricted stock, unrestricted stock, restricted stock units and performance shares.
On December 23, 2015 the Partnership awarded 240,000 and 610,000 unvested units to Employees and Non-Employees, respectively. Awards granted to certain Employees and Non-Employees will vest in three equal annual instalments. The remaining awards will vest on December 31, 2018.
All unvested units are conditional upon the grantee's continued service as Employee and/or Non-Employee until the applicable vesting date.
The unvested units accrued distributions as declared and paid which are retained by the custodian of the Plan until the vesting date at which they were payable to the grantee. As unvested unit grantees accrued distributions on awards that are expected to vest, such distributions are charged to Partners' capital. As of June 30, 2016 the unvested units accrued $266 of distributions.
The following table contains details of our plan:
For the six month periods ended June 30, 2016 and 2015 the equity compensation expense that has been charged in the unaudited condensed consolidated statements of comprehensive income was $219, $0 for the Employee awards and $306, $0 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income.
As of June 30, 2016 the total compensation cost related to non vested awards is $2,584 and is expected to be recognized over a weighted average period of 2.5 years. The Partnership uses the straight-line method to recognize the cost of the awards.
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- Definition The entire disclosure for compensation-related costs for equity-based compensation, which may include disclosure of policies, compensation plan details, allocation of equity compensation, incentive distributions, equity-based arrangements to obtain goods and services, deferred compensation arrangements, employee stock ownership plan details and employee stock purchase plan details. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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Net Income Per Unit |
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| Net Income Per Unit [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Unit |
The general partner's and common unit holders' interests in net income are calculated as if all net income for periods subsequent to April 4, 2007, were distributed according to the terms of the partnership'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, 2016 and 2015 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.
As of June 30, 2016, the Partnership excluded the effect of 850,000 non-vested unit awards in calculating dilutive EPU for its common unitholders as they were anti-dilutive.
The Partnership excluded the effect of 12,983,333 Class B Convertible Preferred Units in calculating dilutive EPU as of June 30, 2016 and 2015 respectively as they were anti-dilutive.
The Two Class Method was used to calculate Earnings Per Unit (“EPU”) as follows:
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- References No definition available.
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- Definition 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 [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| 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-cancellable long-term time and bareboat charter contracts, as of June 30, 2016 are:
HMM charters restructuring has not been taken into account in future minimum rental receipts in the table above, since it was signed subsequently to June 30, 2016.
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- References No definition available.
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- Definition 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 [Abstract] | |||
| Subsequent events |
a) Dividends: On July 21, 2016, the Board of Directors of the Partnership declared a cash distribution of $0.0750 per common unit for the second quarter of 2016, which will be paid on August 12, 2016, to unit holders of record on August 5, 2016.
In addition, on July 21, 2016, the Board of Directors of the Partnership declared a cash distribution of $0.21375 per Class B Unit for the second quarter of 2016. The cash distribution was paid on August 10, 2016, to Class B Unit holders of record on August 3, 2016.
b)HMM charters restructuring: Hyundai Merchant Marine Co. Ltd (“HMM”) , the charterer of five of the Partnership's vessels, namely Hyundai Prestige, Hyundai Premium, Hyundai Paramount, Hyundai Privilege and Hyundai Platinum (the “HMM Vessels”), each under time charter expiring in 2024 and 2025, has experienced financial difficulties and has pursued a restructuring involving various creditors and vessel owners. As part of the various agreements that HMM reached with its creditors and vessel owners under its voluntary debt restructuring, the owning companies of the HMM Vessels entered into a charter restructuring agreement on July 15, 2016. This agreement provides for the reduction of the charter rate payable under the respective charter parties by 20% to $23.5 per day (from $29.4 gross per day) for a three and a half year period starting in July 2016 and ending in December 2019 (the “Charter Reduction Period”) in exchange for HMM common shares. The total charter rate reduction for the Charter Reduction Period for the HMM Vessels aggregates to approximately $37,000 (the “Charter Reduction Amount”). The charter restructuring agreement further provides that at the end of the Charter Reduction Period, the charter rate under the respective charter parties will be restored to the original daily rate of $29.4 until the expiry of each charter in 2024 and 2025.
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- References No definition available.
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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. No definition available.
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Significant Accounting Policies (Policy) |
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| Significant Accounting Policies [Abstract] | |
| Recent Accounting Pronouncements | Recent Accounting Pronouncements:
In March 2016, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standard Update (“ASU”) No 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance will be effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard.
In February 2016, the Financial Accounting Standards Board (“FASB”) issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The FASB decided to not fundamentally change lessor accounting. However, some changes have been made to lessor accounting to conform and align that guidance with the lessee guidance and other areas within U.S. GAAP. This update is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard.
In July 2015, the FASB issued ASU 2015-11, to simplify the measurement of inventory using first-in, first-out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update is effective for public entities with reporting periods beginning after December 15, 2016. Early adoption is permitted. The Partnership believes that the implementation of this update will not have any material impact on its financial statements and has not elected the early adoption.
On May 28, 2014, the FASB issued Accounting Standard Update (“ASU”) No 2014-09 as amended by ASU 2016-08 which was issued in March 2016, ASU 2016-10 which was issued in April 2016 and ASU 2016-12 which was issued in May 2016, 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, 2017. Early application is permitted only as of annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. The Company is currently evaluating the impact, if any, of the adoption of this new standard.
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- References No definition available.
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- Definition 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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| Transactions with Related Parties [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Balances and Transactions with Related Parties |
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| Charter Agreements |
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- Definition Tabular disclosure of time charter agreements in effect. No definition available.
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- References No definition available.
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- Definition Tabular disclosure of related party transactions. Examples of related party transactions include, but are not limited to, transactions between (a) a parent company and its subsidiary; (b) subsidiaries of a common parent; (c) and entity and its principal owners and (d) affiliates. No definition available.
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Fixed Assets (Tables) |
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| Fixed assets [Abstract] | |||||||||||||||||||||||||
| Advances for vessels under construction - related party |
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| Vessels, net |
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- Definition Tabular disclosure of advances for vessels under construction. No definition available.
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- References No definition available.
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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Above market acquired charters (Tables) |
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| Above market acquired charters [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Above Market Acquired Charters |
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| Above Market Acquired Charter Future Amortization Expense |
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- Definition Tabular disclosure of the amount of amortization expense expected to be recorded in succeeding fiscal years for above market acquired charter. No definition available.
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- Definition Tabular disclosure of above market acquired charters. No definition available.
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- References No definition available.
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Long-Term Debt (Tables) |
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| Long-Term Debt [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Bank Loans |
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- References No definition available.
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- 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.
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Partners' Capital (Tables) |
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| Partners' Capital [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Partnership Units |
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| Distribution to unitholders |
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- Definition Tabular disclosure of outstanding units for each class of partnership interest. No definition available.
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- 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
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- References No definition available.
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Omnibus Incentive Compensation Plan (Tables) |
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| Omnibus Incentive Compensation Plan [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Omnibus Incentive Compensation Plan |
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- References No definition available.
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- Definition Tabular disclosure of components of a stock option or other award plan under which equity-based compensation is awarded to employees, typically comprised of the amount of unearned compensation (deferred compensation cost), compensation expense, and changes in the quantity and fair value of the shares (or other type of equity) granted, exercised, forfeited, and issued and outstanding pertaining to that plan. Disclosure may also include nature and general terms of such arrangements that existed during the period and potential effects of those arrangements on shareholders, effect of compensation cost arising from equity-based payment arrangements on the income statement, method of estimating the fair value of the goods or services received, or the fair value of the equity instruments granted, during the period, cash flow effects resulting from equity-based payment arrangements and, for registrants that accelerate vesting of out of the money share options, reasons for the decision to accelerate. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Unit (Tables) |
6 Months Ended | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Unit [Abstract] | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Net Income Per Unit Basic and Diluted |
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| X | ||||||||||
- Definition Tabular disclosure of an entity's basic and diluted income per unit calculations No definition available.
|
| X | ||||||||||
- References No definition available.
|
Commitments and Contingencies (Tables) |
6 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Jun. 30, 2016 | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Commitments and Contingencies [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||
| Future minimum rental receipts |
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| X | ||||||||||
- References No definition available.
|
| 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) |
6 Months Ended |
|---|---|
Jun. 30, 2016 | |
| 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 | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
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Basis of Presentation and General Information - Additional Information (Details) |
Jun. 30, 2016 |
|---|---|
| Property Plant And Equipment | |
| Number of vessels | 35 |
| 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 | 10 |
| Capesize Bulk Carrier | |
| Property Plant And Equipment | |
| Number of vessels | 1 |
| X | ||||||||||
- Definition Number of vessels owned and/ or to be acquired by the partnership. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Transactions with Related Parties - Unaudited Condensed Consolidated Balance Sheets (Table) (Details) - USD ($) $ in Thousands |
Jun. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Assets: | ||
| Advances for vessels under construction - related party | $ 0 | $ 18,172 |
| Total assets | 0 | 18,172 |
| Liabilities: | ||
| Due to related parties | 13,767 | 22,154 |
| Deferred revenue - current (e) | 8,978 | 10,867 |
| Advances for vessels under construction - related party (f) | ||
| Assets: | ||
| Advances for vessels under construction - related party | 0 | 18,172 |
| Manager - payments on behalf of the Partnership (a) | ||
| Liabilities: | ||
| Due to related parties | 12,871 | 21,264 |
| Management fee payable to CSM (b) | ||
| Liabilities: | ||
| Due to related parties | 896 | 890 |
| Capital Maritime And Trading Corp | ||
| Liabilities: | ||
| Deferred revenue - current (e) | 1,437 | 4,253 |
| Total liabilities | $ 15,204 | $ 26,407 |
| X | ||||||||||
- Definition This element represents advances to a related party for vessels under construction or the excess between the fair value and the contractual cash consideration for these vessels, or both. 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
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| X | ||||||||||
- References No definition available.
|
| 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
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| 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
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| 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
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| X | ||||||||||
- References No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Transactions with Related Parties - Unaudited Condensed Consolidated Statement of Comprehensive Income (Table) (Details) - USD ($) $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
|
| Related Party Transaction | ||
| Revenues (c) | $ 19,203 | $ 36,052 |
| Voyage expenses | 189 | 206 |
| Vessel operating expenses | 5,301 | 5,863 |
| General and administrative expenses (d) | 2,721 | 3,173 |
| Capital Maritime And Trading Corp | ||
| Related Party Transaction | ||
| Revenues (c) | 19,203 | 36,052 |
| Voyage expenses | 189 | 206 |
| Vessel operating expenses | 5,301 | 5,863 |
| General and administrative expenses (d) | $ 511 | $ 1,278 |
| 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
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| 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 | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition This element represents advances to a related party for vessels under construction or the excess between the fair value and the contractual cash consideration for these vessels, or both. 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 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 and/ or to be acquired 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 | ||||||||||
- 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 | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Fixed Assets - Advances for vessels under construction - related party (Table) (Details) $ in Thousands |
6 Months Ended |
|---|---|
|
Jun. 30, 2016
USD ($)
| |
| Property Plant And Equipment [Line Items] | |
| Balance as at beginning of period | $ 18,172 |
| Balance as at end of period | 0 |
| Related party | |
| Property Plant And Equipment [Line Items] | |
| Balance as at beginning of period | 18,172 |
| Transfer to vessels | (18,172) |
| Balance as at end of period | $ 0 |
| X | ||||||||||
- Definition This element represents advances to a related party for vessels under construction or the excess between the fair value and the contractual cash consideration for these vessels, or both. 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 Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
|
Fixed assets - Vessels, net (Table) (Details) $ in Thousands |
6 Months Ended |
|---|---|
|
Jun. 30, 2016
USD ($)
| |
| Property Plant And Equipment | |
| Balance as at beginning of period | $ 1,315,485 |
| Balance as at end of period | 1,369,854 |
| Vessel Cost | |
| Property Plant And Equipment | |
| Balance as at beginning of period | 1,653,727 |
| Acquisition and improvements | 70,675 |
| Transfer from advances for vessels under construction - related party | 18,172 |
| Balance as at end of period | 1,742,574 |
| Accumulated depreciation | |
| Property Plant And Equipment | |
| Balance as at beginning of period | (338,242) |
| Depreciation for the period | (34,478) |
| Balance as at end of period | (372,720) |
| Net book value | |
| Property Plant And Equipment | |
| Balance as at beginning of period | 1,315,485 |
| Acquisition and improvements | 70,675 |
| Transfer from advances for vessels under construction - related party | 18,172 |
| Depreciation for the period | (34,478) |
| Balance as at end of period | $ 1,369,854 |
| 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 | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition The acquisition 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, for vessels acquired during the period. No definition available.
|
| X | ||||||||||
- Definition This element represents advances to a related party for vessels under construction or the excess between the fair value and the contractual cash consideration for these vessels, or both. 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 This value represents the excess between the fair value of the contracted vessels and the contractual cash consideration. No definition available.
|
| X | ||||||||||
- Definition Number of vessels owned and/ or to be acquired by the partnership. No definition available.
|
| X | ||||||||||
- Definition This element represents costs for acquisitions and capitalized improvements of vessels. No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition The 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 acquisition 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, for vessels acquired during the period. No definition available.
|
| X | ||||||||||
- Definition The amortization of the asset arising from the difference between the existing value of the charter assumed at the time of a vessel acquisition and the value of the charter prevailing in the market at this time. No definition available.
|
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition The 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 | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Definition Amount of deferred loan issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
| X | ||||||||||
- Definition Current portion of the amount of deferred loan issuance costs (for example, but not limited to, legal, accounting, broker, and regulatory fees). No definition available.
|
| X | ||||||||||
- Definition Amount of long-term debt, before 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, commercial paper and the current portion of debt issuance costs. Excludes capital lease obligations. 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 Amount, before unamortized (discount) premium and debt issuance costs, of long-term debt. Includes, but is not limited to, notes payable, bonds payable, commercial loans, mortgage loans, convertible debt, subordinated debt and other types of debt. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| X | ||||||||||
- Definition Amount, after unamortized (discount) premium and debt issuance costs, of long-term debt. 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 after unamortized (discount) premium and debt issuance costs of long-term debt classified as noncurrent and excluding amounts to be repaid within one year or the normal operating cycle, if longer. Includes, but not limited to, notes payable, bonds payable, debentures, mortgage loans and commercial paper. Excludes capital lease obligations. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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| X | ||||||||||
- Details
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Long-Term Debt - Additional Information (Details) - USD ($) $ in Thousands |
2 Months Ended | 6 Months Ended | |
|---|---|---|---|
Feb. 23, 2016 |
Jun. 30, 2016 |
Jun. 30, 2015 |
|
| Debt Instrument | |||
| Repayment amount | $ 8,677 | ||
| Line of credit facility remaining borrowing capacity | 0 | ||
| Interest expense on long term debt | $ 11,055 | $ 8,230 | |
| Weighted average interest rate | 3.71% | 3.34% | |
| 2013 Credit Facility | M/V CMA CGM Magdalena | |||
| Debt Instrument | |||
| Line of credit facility amount drawn down - Tranche B | $ 35,000 | ||
| X | ||||||||||
- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
|
| 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 Amount of the required periodic payment applied to principal. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Amount of borrowing capacity currently available under the credit facility (current borrowing capacity less the amount of borrowings outstanding). Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Definition Weighted average interest rate of long-term debt outstanding. No definition available.
|
| X | ||||||||||
- Definition Amount of cash inflow from contractual arrangement with the lender, including but not limited to, letter of credit, standby letter of credit and revolving credit arrangements. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
| X | ||||||||||
- Details
|
| X | ||||||||||
- Details
|
Long-Term Debt Covenants Description (Details) |
6 Months Ended |
|---|---|
Jun. 30, 2016 | |
| Long-Term Debt [Abstract] | |
| Debt Instrument Covenant Description | As of June 30, 2016 and December 31, 2015 the Partnership was in compliance with all financial debt covenants. |
| X | ||||||||||
- References No definition available.
|
| X | ||||||||||
- Definition Description of minimum financial levels (for example, tangible net worth and working capital) and achievement of certain financial ratios (for example, working capital ratio and debt service coverage ratio), and adherence to certain clauses which generally require or restrict certain actions (for example, entering into a debt arrangement with equal or greater seniority, and selling or discontinuing a certain business segment or material subsidiary) to be in compliance with the covenant clauses of the debt agreement. May also include a discussion of the adverse consequences that would result if the entity violates or fails to satisfy the covenants. Reference 1: http://www.xbrl.org/2003/role/presentationRef
|
Financial Instruments (Details) |
Jun. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Account for more than 10% of the partnership's revenue | ||
| Number of customers | 4 | 2 |
| X | ||||||||||
- Definition The number of customers. No definition available.
|
| X | ||||||||||
- Details
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Partners' Capital - Partnership Units (Table) (Details) - shares |
Jun. 30, 2016 |
Dec. 31, 2015 |
|---|---|---|
| Partners' Capital [Abstract] | ||
| Common units | 120,409,456 | 120,409,456 |
| General partner units | 2,439,989 | 2,439,989 |
| Preferred units | 12,983,333 | 12,983,333 |
| Total partnership units | 135,832,778 | 135,832,778 |
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- Definition The number of common partnership units outstanding. No definition available.
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| X | ||||||||||
- Definition The number of general partner units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- References No definition available.
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- 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
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- Definition The number of preferred units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners' Capital - Distributions to Unitholders (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands |
1 Months Ended | 3 Months Ended | 6 Months Ended | 9 Months Ended | ||
|---|---|---|---|---|---|---|
Jan. 23, 2015 |
Apr. 26, 2016 |
Apr. 23, 2015 |
Jun. 30, 2016 |
Jan. 20, 2016 |
Dec. 31, 2015 |
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| Common units entitled to distribution | 120,409,456 | 120,409,456 | ||||
| Preferred units entitled to distribution | 12,983,333 | 12,983,333 | ||||
| Common unit-holders | ||||||
| Distributions per unit declared | $ 0.2325 | $ 0.075 | $ 0.2345 | $ 0.075 | $ 0.2385 | |
| Common units entitled to distribution | 104,079,960 | 120,409,456 | 119,559,456 | 120,409,456 | ||
| General partner and IDR distributions | $ 494 | $ 183 | $ 572 | $ 582 | ||
| Preferred unit-holders | ||||||
| Distributions per unit declared | $ 0.21375 | $ 0.21375 | $ 0.21575 | $ 0.21375 | $ 0.21975 | |
| Preferred units entitled to distribution | 14,223,737 | 12,983,333 | 12,983,333 | 12,983,333 | ||
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- Definition The number of common partnership units outstanding. No definition available.
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- 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
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- Definition The total amount of distributions to the general partner during the period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of preferred units outstanding. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Partners' Capital - Additional Information (Details) - shares |
6 Months Ended | |
|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
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| Class B Convertible Preferred Units | ||
| Business Acquisition | ||
| Number of Class B convertible preferred units converted to common units | 0 | 1,240,404 |
| CMTC | ||
| Business Acquisition | ||
| Common Units converted to General Partner Units | 0 | 315,908 |
| Interest of CGP in the partnership | 2.00% | 2.00% |
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- Definition The equity interest of the general partner in the consolidated entity. No definition available.
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- 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
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- 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
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Omnibus Incentive Compensation Plan (Table) (Details) $ in Thousands |
6 Months Ended |
|---|---|
|
Jun. 30, 2016
USD ($)
shares
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| Units | |
| Unvested, end of period | $ 2,584 |
| Employee equity compensation | |
| Units | |
| Unvested, beginning of period | shares | 240,000 |
| Vested | shares | 0 |
| Unvested, end of period | shares | 240,000 |
| Unvested, beginning of period | $ 1,325 |
| Vested | 0 |
| Unvested, end of period | $ 1,325 |
| Non-Employee equity compensation | |
| Units | |
| Unvested, beginning of period | shares | 610,000 |
| Vested | shares | 0 |
| Unvested, end of period | shares | 610,000 |
| Unvested, beginning of period | $ 3,367 |
| Vested | 0 |
| Unvested, end of period | $ 3,367 |
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- Definition The fair value of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date or the grant date. No definition available.
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- Definition The fair value of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. No definition available.
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- Definition The number of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition A roll forward is a reconciliation of a concept from the beginning of a period to the end of a period. No definition available.
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- Definition The number of equity-based payment instruments, excluding stock (or unit) options, that vested during the reporting period. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Number of equal annual installments for awards vested. No definition available.
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- Definition The fair value of non-vested equity-based payment instruments, excluding stock (or unit) options, that validly exist and are outstanding as of the balance sheet date or the grant date. No definition available.
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- Definition The accrued amount of distribution, related to unvested units. No definition available.
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- Definition The date when the remaining awards vested. No definition available.
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- Definition Weighted average period over which unrecognized compensation is expected to be recognized for equity-based compensation plans, in 'PnYnMnDTnHnMnS' format, for example, 'P1Y5M13D' represents the reported fact of one year, five months, and thirteen days. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The aggregate amount of noncash, equity-based employee remuneration. This may include the value of stock or unit options, amortization of restricted stock or units, and adjustment for officers' compensation. As noncash, this element is an add back when calculating net cash generated by operating activities using the indirect method. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition The number of grants made during the period on other than stock (or unit) option plans (for example, phantom stock or unit plan, stock or unit appreciation rights plan, performance target plan). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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- Definition The maximum number of shares (or other type of equity) originally approved (usually by shareholders and board of directors), net of any subsequent amendments and adjustments, for awards under the equity-based compensation plan. As stock or unit options and equity instruments other than options are awarded to participants, the shares or units remain authorized and become reserved for issuance under outstanding awards (not necessarily vested). Reference 1: http://www.xbrl.org/2003/role/presentationRef
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Net Income Per Unit (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands |
6 Months Ended | |
|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
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| Net Income Per Unit [Abstract] | ||
| Partnership's net income | $ 26,975 | $ 26,260 |
| Less: | ||
| Preferred unit holders' interest in Partnership's net income | 5,550 | 5,628 |
| General Partner's interest in Partnership's net income | 426 | 411 |
| Partnership's net income allocable to unvested units | 148 | 0 |
| Common unit holders' interest in Partnership's net income | $ 20,851 | $ 20,221 |
| Denominators | ||
| Weighted average number of common units outstanding, basic and diluted | 119,559,456 | 110,427,242 |
| Net income per common unit: | ||
| Basic and diluted | $ 0.17 | $ 0.18 |
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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 unvested common units. No definition available.
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- Definition Aggregate amount of net income/loss allocated to outstanding common units. No definition available.
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- References No definition available.
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- 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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- References 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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- References No definition available.
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- Definition The consolidated profit or loss for the period, net of income taxes, including the portion attributable to the noncontrolling interest. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- 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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- References No definition available.
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Net Income Per Unit (Details) - shares |
6 Months Ended | |
|---|---|---|
Jun. 30, 2016 |
Jun. 30, 2015 |
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| Non-vested units awards | ||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
| Antidilutive convertible preferred units | 850,000 | |
| Class B Convertible Preferred Units | ||
| Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items] | ||
| Antidilutive convertible preferred units | 12,983,333 | 12,983,333 |
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- Definition Securities (including those issuable pursuant to contingent stock agreements) that could potentially dilute basic earnings per share (EPS) or earnings per unit (EPU) in the future that were not included in the computation of diluted EPS or EPU because to do so would increase EPS or EPU amounts or decrease loss per share or unit amounts for the period presented. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table. No definition available.
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Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) $ in Thousands |
Jun. 30, 2016
USD ($)
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|---|---|
| Commitments and Contingencies [Abstract] | |
| 2017 | $ 216,748 |
| 2018 | 172,329 |
| 2019 | 128,099 |
| 2020 | 110,250 |
| 2021 | 63,730 |
| Thereafter | 194,561 |
| Total | $ 885,717 |
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- References No definition available.
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- 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
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- Definition The date of commencement of charter. No definition available.
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- Definition Date the declared dividends were paid. No definition available.
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- Definition The estimated amount of reduction in charter revenue which will occur in future under the arrangement with the charterer. No definition available.
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- Definition The gross daily charter hire rate. No definition available.
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- Definition Number of vessels owned and/ or to be acquired by the partnership. No definition available.
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- Definition This element shows the percentage of increase/ decrease of the charter rate under the arrangement with the charterer. No definition available.
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- Definition The expected termination or earliest redelivery date of charter. No definition available.
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- Definition The duration of time charter agreement. No definition available.
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- 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
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- Definition Date the declared dividend will be paid, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date the dividend to be paid was declared, in CCYY-MM-DD format. Reference 1: http://www.xbrl.org/2003/role/presentationRef
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- Definition Date the holder must own the stock to be entitled to the dividend, in CCYY-MM-DD format. No definition available.
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- Definition Detail information of subsequent event by type. User is expected to use existing line items from elsewhere in the taxonomy as the primary line items for this disclosure, which is further associated with dimension and member elements pertaining to a subsequent event. No definition available.
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