0001193125-23-118113 | 20-F | XBRL Viewer | Capital Product Partners LP

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Cover - shares	12 Months Ended
Cover - shares	Dec. 31, 2022	Dec. 31, 2021
Document Information [Line Items]
Document Type	20-F
Amendment Flag	false
Document Registration Statement	false
Document Annual Report	true
Document Transition Report	false
Document Shell Company Report	false
Document Period End Date	Dec. 31, 2022
Document Fiscal Period Focus	FY
Document Fiscal Year Focus	2022
Current Fiscal Year End Date	--12-31
Entity File Number	1-33373
Entity Registrant Name	CAPITAL PRODUCT PARTNERS L.P.
Entity Central Index Key	0001392326
Entity Incorporation, State or Country Code	1T
Entity Address, Address Line One	3 Iassonos Street
Entity Address, City or Town	Piraeus
Entity Address, Country	GR
Entity Address, Postal Zip Code	18537
Title of 12(b) Security	Common units representing limited partnership interests
Trading Symbol	CPLP
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Emerging Growth Company	false
Document Accounting Standard	U.S. GAAP
Entity Shell Company	false
Entity Common Stock, Shares Outstanding	20,255,707
General Partners' Capital Account, Units Outstanding	348,570	348,570
ICFR Auditor Attestation Flag	true
Auditor Firm ID	1163
Auditor Name	Deloitte Certified Public Accountants S.A.
Auditor Location	Athens, Greece
Business Contact [Member]
Document Information [Line Items]
Entity Address, Address Line One	3 Iassonos Street
Entity Address, City or Town	Piraeus
Entity Address, Country	GR
Entity Address, Postal Zip Code	18537
City Area Code	+30
Local Phone Number	210 458 4950
Contact Personnel Name	Gerasimos (Jerry) Kalogiratos

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Current assets
Cash and cash equivalents	$ 144,635	$ 20,373
Trade accounts receivable, net	2,102	6,025
Prepayments and other assets	7,534	4,835
Due from related party (Note 4)	3,636	0
Inventories	6,817	5,009
Claims	1,599	1,442
Total current assets	166,323	37,684
Fixed assets
Advances for vessels under construction – related party (Notes 4, 5)	24,000	0
Vessels, net (Note 5)	1,757,897	1,781,858
Total fixed assets	1,781,897	1,781,858
Other non-current assets
Above market acquired charters (Note 6)	32,320	48,605
Deferred charges, net	289	2,771
Restricted cash (Note 7)	10,213	10,614
Prepayments and other assets	5,722	3,638
Total non-current assets	1,830,441	1,847,486
Total assets	1,996,764	1,885,170
Current liabilities
Current portion of long-term debt, net (including nil and $10,000 payable to related party as of December 31, 2022 and 2021, respectively) (Notes 4, 7)	73,213	97,879
Trade accounts payable	8,322	9,823
Due to related parties (Note 4)	1,016	2,785
Accrued liabilities (Note 9)	17,476	11,395
Deferred revenue	18,553	8,919
Total current liabilities	118,580	130,801
Long-term liabilities
Long-term debt, net (including $6,000 payable to related party as of December 31, 2022 and 2021) (Notes 4, 7)	1,215,865	1,211,095
Derivative liabilities (Note 8)	13,525	3,167
Below market acquired charters (Note 6)	10,368	14,643
Total long-term liabilities	1,239,758	1,228,905
Total liabilities	1,358,338	1,359,706
Commitments and contingencies (Note 15)	0	0
Partners’ capital
General Partner (348,570 General partner units at December 31, 2022 and 2021) (Note 12)	12,414	10,466
Limited Partners – Common (20,821,946 units issued and 20,255,707 units outstanding and 19,776,946 units issued and 19,394,696 units outstanding as of December 31, 2022 and 2021, respectively) (Note 12)	634,605	519,497
Treasury Units (566,239 units as of December 31, 2022 and 382,250 units as of December 31, 2021) (Note 12)	(3,827)	(4,499)
Accumulated other comprehensive loss	(4,766)	0
Total partners’ capital	638,426	525,464
Total liabilities and partners’ capital	$ 1,996,764	$ 1,885,170

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Current portion of long-term debt, net - related party	$ 10,000	$ 10,000
Long-term debt, net - related party	$ 6,000	$ 6,000
General Partner unit	348,570	348,570
Limited Partners - Common units issued	20,821,946	19,776,946
Limited Partners - Common units outstanding	20,255,707	19,394,696
Treasury Units	566,239	382,250

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
Revenues (Note 3)	$ 299,071	$ 184,665	$ 140,865
Expenses / (income), net:
Voyage expenses (Note 10)	16,236	10,698	6,301
Vessel operating expenses (Note 10)	58,288	41,199	33,745
Vessel operating expenses - related parties (Notes 4, 10)	9,172	5,923	4,976
General and administrative expenses (including $2,244, $2,013 and $2,049 to related parties, for the years ended December 31, 2022, 2021 and 2020, respectively) (Notes 4, 13)	10,681	8,662	7,195
Gain on sale of vessels (Note 5)	(47,275)	(46,812)	0
Vessel depreciation and amortization (Note 5)	69,272	46,935	41,405
Operating income	182,697	118,060	47,243
Other income / (expense), net:
Interest expense and finance cost (Note 7)	(55,421)	(20,129)	(16,741)
Other (expense) / income	(1,855)	247	(135)
Total other expense, net	(57,276)	(19,882)	(16,876)
Partnership’s net income	125,421	98,178	30,367
General Partner’s interest in Partnership’s net income (Note 14)	2,157	1,790	558
Partnership’s net income allocable to unvested units (Note 14)	3,662	2,053	685
Common unit holders’ interest in Partnership’s net income (Note 14)	$ 119,602	$ 94,335	$ 29,124
Net income per (Note 14):
• Common unit, basic and diluted	$ 6.19	$ 5.14	$ 1.60
• Common units, basic and diluted	19,325,030	18,342,413	18,194,186
Partnership’s net income	$ 125,421	$ 98,178	$ 30,367
Other comprehensive loss:
Unrealized loss on derivative instruments (Note 8)	(4,766)	0	0
Partnership’s comprehensive income	$ 120,655	$ 98,178	$ 30,367

Consolidated Statements of Comprehensive Income (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Income Statement [Abstract]
General and administrative expenses - related party	$ 2,244	$ 2,013	$ 2,049

Consolidated Statements of Changes in Partners' Capital - USD ($) $ in Thousands	General Partner [Member]	Common Unitholders [Member]	Treasury Units [Member]	Accumulated Other Comprehensive Loss [Member]	Total
Beginning balance, value at Dec. 31, 2019	$ 8,572	$ 398,165	$ 0	$ 0	$ 406,737
Distributions declared / paid (distributions of $0.90, $0.40 and $0.60 per common unit in 2020, 2021 and 2022, respectively)	(314)	(16,761)	0	0	(17,075)
Partnership’s net income	558	29,809	0	0	30,367
Equity compensation expense (Note 13)	0	2,049	0	0	2,049
Other comprehensive loss (Note 8)					0
Ending balance, value at Dec. 31, 2020	8,816	413,262	0	0	422,078
Distributions declared / paid (distributions of $0.90, $0.40 and $0.60 per common unit in 2020, 2021 and 2022, respectively)	(140)	(7,473)	0	0	(7,613)
Partnership’s net income	1,790	96,388	0	0	98,178
Equity compensation expense (Note 13)	0	2,043	0	0	2,043
Issuance of common units in connection with the acquisition of vessel owning companies (Notes 4, 5, 12)	0	15,277	0	0	15,277
Repurchase of common units (Note 12)	0	0	(4,499)	0	(4,499)
Other comprehensive loss (Note 8)					0
Ending balance, value at Dec. 31, 2021	10,466	519,497	(4,499)	0	525,464
Distributions declared / paid (distributions of $0.90, $0.40 and $0.60 per common unit in 2020, 2021 and 2022, respectively)	(209)	(11,946)	0	0	(12,155)
Partnership’s net income	2,157	123,264	0	0	125,421
Equity compensation expense (Note 13)	0	3,790	0	0	3,790
Re-issuance of treasury units in connection with the acquisition of a vessel owning company (Notes 5, 12)	0	0	6,583	0	6,583
Repurchase of common units (Note 12)	0	0	(5,911)	0	(5,911)
Other comprehensive loss (Note 8)	0	0	0	(4,766)	(4,766)
Ending balance, value at Dec. 31, 2022	$ 12,414	$ 634,605	$ (3,827)	$ (4,766)	$ 638,426

- Definition

The portion of profit or loss for the period, net of income taxes, which is attributable to the parent.

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+ Details

Consolidated Statements of Changes in Partners' Capital (Parenthetical) - $ / shares	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Limited Partner [Member]
Distributions declared and paid	$ 0.60	$ 0.40	$ 0.90

Consolidated Consolidated Statements of Cash flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Cash flows from operating activities:
Net income	$ 125,421	$ 98,178	$ 30,367
Adjustments to reconcile net income to net cash provided by operating activities:
Vessel depreciation and amortization (Note 5)	69,272	46,935	41,405
Amortization and write-off of deferred financing costs	2,766	3,122	3,047
Amortization / accretion of above / below market acquired charters (Note 6)	12,010	7,287	11,696
Gain on sale of vessels (Note 5)	(47,275)	(46,812)	0
Equity compensation expense (Note 13)	3,790	2,043	2,049
Change in fair value of derivatives (Note 8)	10,959	3,167	0
Unrealized bonds exchange differences (Note 7)	(10,896)	(3,374)	0
Unrealized cash, cash equivalents and restricted cash exchange differences	(493)	0	0
Changes in operating assets and liabilities:
Trade accounts receivable, net	3,923	(3,170)	(165)
Prepayments and other assets	(3,768)	(201)	(1,384)
Due from related party	(3,636)	0	0
Inventories	(1,808)	(1,481)	(2,057)
Claims	(157)	(696)	339
Trade accounts payable	380	(252)	3,779
Due to related parties	(1,769)	(472)	(1,999)
Accrued liabilities	4,215	2,687	684
Deferred revenue	9,634	6,098	(1,005)
Dry-docking costs paid	0	(1,895)	(6,074)
Net cash provided by operating activities	172,568	111,164	80,682
Cash flows from investing activities:
Vessel acquisitions and improvements including time charter agreements (Notes 5, 6)	(117,233)	(368,096)	(185,247)
Advances for vessels under construction – related party (Note 5)	(24,000)	0	0
Net proceeds from sale of vessels (Note 5)	127,124	193,031	0
Net cash used in investing activities	(14,109)	(175,065)	(185,247)
Cash flows from financing activities:
Proceeds from long-term debt (Note 7)	206,276	204,266	270,850
Deferred financing costs paid	(4,347)	(6,131)	(4,765)
Payments of long-term debt (Note 7)	(218,954)	(145,471)	(153,573)
Repurchase of common units (Note 12)	(5,911)	(4,499)	0
Dividends paid (Note 12)	(12,155)	(7,613)	(17,075)
Net cash (used in) / provided by financing activities	(35,091)	40,552	95,437
Net increase / (decrease) in cash, cash equivalents and restricted cash	123,368	(23,349)	(9,128)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	493	0	0
Cash, cash equivalents and restricted cash at the beginning of the year	30,987	54,336	63,464
Cash, cash equivalents and restricted cash at the end of the year	154,848	30,987	54,336
Supplemental cash flow information
Cash paid for interest	49,179	15,750	15,347
Non-Cash Investing and Financing Activities
Seller’s credit agreements in connection with the acquisition of vessel owning companies (Notes 5, 7)	0	16,000	0
Financing arrangements and credit facility assumed in connection with the acquisition of vessel owning companies (Notes 5, 7)	0	866,344	0
Issuance of common units in connection with the acquisition of vessel owning companies (Notes 5, 12)	0	15,277	0
Re-issuance of treasury units in connection with the acquisition of a vessel owning company (Notes 5, 12)	6,583	0	0
Capital expenditures included in liabilities	1,663	1,008	2,507
Capitalized dry-docking costs included in liabilities	29	123	1,649
Deferred financing costs included in liabilities	220	112	6
Expenses for sale of vessels included in liabilities (Note 5)	1,300	1,984	0
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	144,635	20,373	47,336
Restricted cash - Non-current assets	10,213	10,614	7,000
Total cash, cash equivalents and restricted cash shown in the statements of cash flows	$ 154,848	$ 30,987	$ 54,336

Basis of Presentation and General Information

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and General Information

1. Basis of Presentation and General Information

Capital Product Partners, L.P. was formed on January 16, 2007, under the laws of the Marshall Islands. Capital Product Partners, L.P. and its fully owned subsidiaries (collectively the “Partnership”) is an international shipping company. As of December 31, 2022, its fleet of 20 high specification vessels consisted of 10 Neo-Panamax container carrier vessels, three Panamax container carrier vessels, one Cape-size bulk carrier vessel and six X-DF Liquefied natural gas carrier (“LNG/C”) vessels. Its vessels are capable of carrying a wide range of cargoes including liquefied natural gas, containerized goods and dry bulk cargo under short-term voyage charters and medium to long-term time charters.

CPLP Shipping Holdings PLC

On August 14, 2021, the Partnership established CPLP Shipping Holdings PLC (“CPLP PLC”) a 100% subsidiary of the Partnership. CPLP PLC was established in Cyprus as a public limited liability company in accordance with the provisions of the Companies Law of Cyprus, Chapter 113. On July 22, 2022 and October 20, 2021, the Partnership, through its fully owned subsidiary, CPLP PLC, issued two unsecured bonds of €100,000,000 (the “2022 Bonds”) and €150,000,000 (the “2021 Bonds”) on the Athens Stock Exchange respectively. The 2022 Bonds and the 2021 Bonds are guaranteed by the Partnership, will mature in July 2029 and October 2026 and have a coupon payable semi-annually of 4.40% and 2.65% respectively (Note 7).

1. Basis of Presentation and General Information - Continued

As of December 31, 2022, the consolidated financial statements include Capital Product Partners, L.P. and the following wholly owned significant subsidiaries which were all incorporated or formed under the laws of the Marshall Islands, Liberia or Cyprus.

Subsidiary	Date of Incorporation	Name of Vessel Owned by Subsidiary	Deadweight (“DWT”)	Date acquired by the Partnership	Date acquired by Capital Maritime & Trading Corp. (“CMTC”) or CGC Operating Corp. (“CGC”)
Capital Product Operating LLC	01/16/2007	—	—	—	—
CPLP Shipping Holdings PLC	08/14/2021	—	—	—	—
CPLP Gas Operating Corp.	08/24/2021	—	—	—	—
Patroklos Marine Corp.	06/17/2008	M/V Cape Agamemnon	179,221	06/09/2011	01/25/2011
Agamemnon Container Carrier Corp.	04/19/2012	M/V Agamemnon ⁽¹⁾	108,892	12/22/2012	06/28/2012
Archimidis Container Carrier Corp.	04/19/2012	M/V Archimidis ⁽¹⁾	108,892	12/22/2012	06/22/2012
Anax Container Carrier S.A.	04/08/2011	M/V Hyundai Prestige	63,010	09/11/2013	02/19/2013
Hercules Container Carrier S.A.	04/08/2011	M/V Hyundai Premium	63,010	03/20/2013	03/11/2013
Iason Container Carrier S.A.	04/08/2011	M/V Hyundai Paramount	63,010	03/27/2013	03/27/2013
Thiseas Container Carrier S.A.	04/08/2011	M/V Hyundai Privilege	63,010	09/11/2013	05/31/2013
Cronus Container Carrier S.A.	07/19/2011	M/V Hyundai Platinum	63,010	09/11/2013	06/14/2013
Dias Container Carrier S.A.	05/16/2013	M/V Akadimos (ex CMA CGM Amazon)	115,534	06/10/2015	06/10/2015
Poseidon Container Carrier S.A.	05/16/2013	M/V Adonis (ex CMA CGM Uruguay) ⁽²⁾	115,639	09/18/2015	09/18/2015
Atrotos Container Carrier S.A.	10/25/2013	M/V CMA CGM Magdalena ⁽²⁾	115,639	02/26/2016	02/26/2016
Deka Container Carrier S.A.	03/28/2017	M/V Athenian	118,834	01/22/2020	04/28/2017
Jupiter Container Carrier S.A.	03/28/2017	M/V Athos	118,888	01/23/2020	05/19/2017
Nikitis Container Carrier S.A.	03/28/2017	M/V Aristomenis	118,712	01/23/2020	06/27/2017
Neos Container Carriers Corp.	09/04/2020	M/V Long Beach Express ⁽³⁾	68,618	02/25/2021	01/07/2021
Maistros Container Carriers Corp.	09/04/2020	M/V Seattle Express ⁽³⁾	68,411	02/25/2021	01/07/2021
Filos Container Carriers Corp.	09/04/2020	M/V Fos Express ⁽³⁾	68,579	02/25/2021	01/07/2021
Panormos Container Carrier S.A.	12/17/2020	M/V Manzanillo Express ⁽⁴⁾	142,411	10/12/2022	10/12/2022
Assos Gas Carrier Corp.	07/16/2018	LNG/C Aristos I⁽³⁾	81,978	09/03/2021	11/12/2020
Dias Gas Carrier Corp.	07/16/2018	LNG/C Aristarchos ⁽³⁾	81,956	09/03/2021	06/15/2021
Atrotos Gas Carrier Corp.	07/16/2018	LNG/C Aristidis I ⁽³⁾	81,898	12/16/2021	01/04/2021
Poseidon Gas Carrier Corp.	07/16/2018	LNG/C Attalos ⁽³⁾	81,850	11/18/2021	08/13/2021
Maximus Gas Carrier Corp.	04/10/2019	LNG/C Asklipios ⁽³⁾	81,882	11/18/2021	09/29/2021
Kronos Gas Carrier Corp.	02/04/2019	LNG/C Adamastos ⁽³⁾	82,095	11/29/2021	08/23/2021

(1)	Vessels were disposed in 2022
(2)	Vessels were disposed in 2021
(3)	Vessels were acquired in 2021
(4)	Vessel was acquired in 2022

Significant Accounting Policies

12 Months Ended

Dec. 31, 2022

Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies

(a) Principles of Consolidation: The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the legal entities comprising the Partnership as discussed in Note 1. Intra-group balances and transactions have been eliminated upon consolidation.

(b) Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognized during the reporting period. Actual results could differ from those estimates.

(c) Accounting for Revenue, Voyage Expenses and Operating Expenses: Revenue is generated from time or voyage charter contracts.

Time charters contracts

A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. A time charter generally provides typical warranties and owner protective restrictions. A time charter begins when the vessel is delivered to the charterer and ends when the vessel is redelivered back to its owner. The time charter contracts are considered operating leases because (i) the vessel is an identifiable asset (ii) the owner of the vessel does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Revenues from time charters are recognized ratably on a straight-line basis over the period of the respective charter. Under time charter agreements, all voyage expenses, except commissions are assumed by the charterer. Operating costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants are paid by the Partnership under time charter agreements.

Voyage charters contracts

A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load port-to-discharge port basis, subject to various cargo handling terms. The Partnership accounts for a voyage charter when all the following criteria are met: (1) the parties to the contract have approved the contract in the form of a written charter agreement and are committed to perform their respective obligations, (2) the Partnership can identify each party’s rights regarding the services to be transferred, (3) the Partnership can identify the payment terms for the services to be transferred, (4) the charter agreement has commercial substance (that is, the risk, timing, or amount of the Partnership’s future cash flows is expected to change as a result of the contract) and (5) it is probable that the Partnership will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the charterer. The Partnership determined that its voyage charters consist of a single performance obligation which is met evenly as the voyage progresses and begins to be satisfied once the vessel is ready to load the cargo. The voyage charter party agreement generally has a demurrage/dispatch clause according to which in the case of demurrage, the charterer reimburses the vessel owner for any potential delays exceeding the allowed lay time as per the charter party clause at the ports visited which is recorded as demurrage revenue. In the case of dispatch, the owner reimburses the charterer for the earlier discharging of the cargo from the agreed time. Demurrage/despatch revenues are recognized starting from the point that is determined that the amount can be estimated, and its collection/payment is probable and on a straight-line basis until the end of the voyage. Revenues from voyage charters are recognized on a straight-line basis over the voyage duration which commences once the vessel is ready to load the cargo and terminates upon the completion of the discharge of the cargo. Under Accounting Standards Codification (“ASC”) 606, receivables represent an entity’s unconditional right to consideration, whether billed or unbilled.

In voyage charters, vessel operating expenses and voyage expenses are paid for by the Partnership. The voyage charters are considered service contracts which fall under the provisions of ASC 606, because the Partnership retains control over the operations of the vessels, such as the routes taken or the vessels’ speed.

Payment terms under voyage charters are disclosed in the relevant voyage charter agreements and generally have standard payment terms of 90% to 95% of the freight which is paid within three days after the completion of the vessel’s loading.

2. Significant Accounting Policies – Continued

(c) Accounting for Revenue, Voyage Expenses and Operating Expenses - Continued:

Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and are expensed over the related charter period. All other voyage expenses are expensed as incurred, except for expenses during the ballast portion of the voyage (period between the contract date and the date of the vessel’s arrival to the load port). Any expenses incurred during the ballast portion of the voyage such as bunker expenses, canal tolls and port expenses are deferred and are recognized on a straight-line basis, in voyage expenses, over the voyage duration as the Partnership satisfies the performance obligations under the contract provided these costs are (1) incurred to fulfill a contract that we can specifically identify, (2) able to generate or enhance resources of the company that will be used to satisfy performance of the terms of the contract, and (3) expected to be recovered from the charterer. These costs are considered ‘contract fulfillment costs’ and are included in ‘prepayments and other assets’ in the consolidated balance sheets.

Vessel operating expenses presented in the consolidated financial statements mainly consist of crew, repairs and maintenance, insurance, stores, spares, lubricants, other operating expenses and management fees payable to the Partnership’s managers.

Vessel operating expenses are expensed as incurred.

(d) Foreign Currency Transactions: The functional currency of the Partnership is the U.S. Dollar because the Partnership’s vessels operate in international shipping markets that utilize the U.S. Dollar as the functional currency. The accounting records of the Partnership are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. Dollar, are translated into the functional currency using the exchange rate at those dates. Gains or losses resulting from foreign currency transactions are included in “Other income / (expense)” in the consolidated statements of comprehensive income.

(e) Cash and Cash Equivalents: The Partnership considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.

(f) Restricted cash: For the Partnership to comply with debt covenants under its credit facilities and financing arrangements, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash.

(g) Trade Accounts Receivable, net: The amount shown as trade accounts receivable, net primarily consists of earned revenue that has not been billed yet or that has been billed but has not yet been collected. At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate write off. For the year ended December 31, 2022, and 2021 the respective write off amounted to $920 and $113, respectively.

(h) Inventories: Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of disposal and transportation. The cost is determined by the first-in, first-out method.

(i) Vessels Held for Sale: The Partnership classifies vessels as being held for sale when the following criteria are met: (i) management is committed to sell the asset; (ii) the asset is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; (iv) the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn.

Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale.

If a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i) its carrying amount before the vessel was classified as held for sale, adjusted for any depreciation expense that would have been recognized if the vessel had been continuously classified as held and used and (ii) its fair value at the date of the subsequent decision not to sell.

2. Significant Accounting Policies – Continued

(j) Fixed Assets: Fixed assets consist of vessels, which are stated at cost, less accumulated depreciation. Vessel cost consists of the contract price for the vessel, any material expenses incurred during its construction (improvements and delivery expenses, on-site supervision costs incurred during the construction periods, as well as capitalized interest expense during the construction period). Certain subsequent expenditures for major improvements and regulatory requirements are also capitalized if it is determined that they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels. Vessels acquired through acquisition of businesses are recorded at their acquisition date fair values. Vessels acquired through asset acquisitions are recorded at cost. The cost of each of the Partnership’s vessels is depreciated, beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel’s remaining economic useful life, after considering the estimated residual value. Management estimates the scrap value of the Partnership’s vessels to be $0.2 per light weight ton (“LWT”) and useful life to be 25 years for the container carrier and bulk carrier vessels and 35 years for the LNG/C vessels.

(k) Impairment of Vessels: An impairment loss on vessels is recognized when indicators of impairment are present and the carrying amount of the vessel is greater than its fair value and is determined not to be recoverable. In determining future benefits derived from use of the vessels, the Partnership performs an analysis of the anticipated undiscounted future net cash flows of the related vessel. If the carrying value of the asset, including any related intangible assets and liabilities, exceeds its undiscounted future net cash flows, the carrying value is reduced to its fair value. Various factors including future charter rates and vessel operating costs are included in this analysis.

The Partnership has performed an undiscounted cash flow test as of December 31, 2022, and 2021, determining undiscounted projected net operating cash flows for each vessel for which an indication for impairment was present and compared them to the carrying amount of the vessels, and any related intangible assets and liabilities. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry-docking costs, the estimated remaining useful life of the vessels and their estimated residual value. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership’s historical performance and expectations for the vessels’ utilization under the current deployment strategy. Based on these assumptions, the Partnership determined that the vessels held for use and their related intangible assets and liabilities were not impaired as of December 31, 2022 and 2021.

(l) Deferred charges, net: Deferred charges, net are comprised mainly of dry-docking costs. The Partnership’s vessels are required to be dry-docked every thirty to sixty months for major repairs and maintenance that cannot be performed while the vessels are under operation. The Partnership has adopted the deferral method of accounting for dry-docking activities whereby costs incurred are deferred and amortized on a straight-line basis over the period until the next scheduled dry-docking activity.

(m) Intangible assets: The Partnership records all identified tangible and intangible assets, or any liabilities associated with the acquisition of a business or an asset, at fair value. When a vessel or a business that owns a vessel is acquired with an existing charter agreement, the Partnership considers whether any value should be assigned to the attached charter agreement acquired. The value to be assigned to the charter agreement is based on the difference of the contractual charter rate of the agreement acquired and the prevailing market rate for a charter of equivalent duration at the time of the acquisition, determined by independent appraisers as at that date. The resulting above-market (assets) or below-market (liabilities) charters are amortized using the straight-line method as a reduction or increase, respectively, to revenues over the remaining term of the charters (Note 6).

(n) Net Income Per Limited Partner Unit: Basic net income per limited partner unit is calculated by dividing the Partnership’s net income less net income allocable to preferred unit holders, (if any), general partner’s interest in net income (including incentive distribution rights (“IDR”)) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 14). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised.

(o) Segment Reporting: The Partnership reports financial information and evaluates its operations by charter revenues and not by the length, type of vessel or type of ship employment for its customers, i.e. time or voyage charters. The Partnership does not use discrete financial information to evaluate the operating results for each such type of charter or vessel. Although revenue can be identified for these types of charters or vessels, management cannot and does not identify expenses, profitability or other financial information for these various types of charters or vessels. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus the Partnership has determined that it operates as one reportable segment. Furthermore, when the Partnership charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.

2. Significant Accounting Policies – Continued

(p) Omnibus Incentive Compensation Plan: Equity compensation expense represents vested and unvested units granted to employees and to non-employee directors, for their services as directors, as well as to non-employees and are included in general and administrative expenses in the consolidated statements of comprehensive income. These units are measured at their fair value equal to the market value of the Partnership’s common units on the grant date. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period (Note 13).

(q) Treasury Units: The Partnership records the repurchase of its common units at cost based on the settlement dates of repurchase transactions. These units are classified as treasury units, which is a reduction to partners’ capital. Treasury units are included in authorized and issued units but excluded from outstanding units (Note 12).

(r) Fair value of 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; and

Level 3: Inputs are unobservable inputs for the asset or liability.

(s) Derivative Instruments: The Partnership from time to time may enter into derivative instruments to hedge its exposure to foreign exchange or interest rate risks arising from operational, financing and investment activities. Derivatives are initially measured at fair value; attributable transaction costs are expensed as incurred. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Partnership has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as foreign currency risk and interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect in a cash flow hedge. When the derivatives do qualify for hedge accounting, depending upon the nature of the hedge, changes in fair value of the derivatives are either offset against the fair value of assets, liabilities or firm commitments through income, or recognized in other comprehensive income (effective portion) until the hedged item is recognized in the consolidated statements of comprehensive income. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply, or the Company elects not to apply hedge accounting (Note 8).

2. Significant Accounting Policies – Continued

(t) Recent Accounting Pronouncements:

Accounting Standards Update (“ASU”) No. 2022-06—Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. In 2020, the Board issued the ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting, which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The objective of the guidance in Topic 848 is to provide temporary relief during the transition period. The Board included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. At the time that Update 2020-04 was issued, the UK Financial Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022, 12 months after the expected cessation date of all currencies and tenors of LIBOR. In March 2021, the FCA announced that the intended cessation date of the overnight 1, 3, 6, and 12-month tenors of USD LIBOR would be June 30, 2023, which is beyond the current sunset date of Topic 848. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in this Update apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this Update are effective for all entities upon issuance of this Update. The Partnership is currently evaluating the impact of this adoption in its consolidated financial statements and related disclosures.

Revenues

12 Months Ended

Dec. 31, 2022

Revenues

Revenues

3. Revenues

The following table shows the revenues earned from time and voyage charters contracts for the years ended December 31, 2022, 2021 and 2020:

		For the years ended December 31,
		2022		2021		2020
Time charters (operating leases)	$	283,962	$	171,134	$	137,893
Voyage charters		15,109		13,531		2,972
Total	$	299,071	$	184,665	$	140,865

As of December 31, 2022, 19 out of 20, of the Partnership’s vessels were employed under time charter agreements with remaining tenor ranging between 0.2 and 9.5 years, while one vessel was employed under a voyage charter. From these time charter agreements 13 include extensions at the charterers’ option that range between 2.3 to 9.2 years. As of December 31, 2021, 20 out of 21, of the Partnership’s vessels were employed under time charter agreements with remaining tenor ranging between 0.4 and 4.7 years, while one vessel was employed under a voyage charter.

As of December 31, 2022 there were no voyage expenses, incurred between the contract date and the date of the vessel’s arrival to the load port and no unearned revenue related to undelivered performance obligations. As of December 31, 2021 prepayments and other assets include bunker expenses of $168, incurred between the contract date and the date of the vessel’s arrival to the load port. As of December 31, 2021 the Partnership had unearned revenue related to undelivered performance obligations of $3,010 which was recognized in the Partnership’s records in the first quarter of 2022.

Transactions with Related Parties

12 Months Ended

Dec. 31, 2022

Transactions with Related Parties

4. Transactions with Related Parties

CMTC is an international shipping company with a long history of operating and investing in the shipping market and our sponsor. As of December 31, 2022 and 2021, CMTC may be deemed to beneficially own a 23.1% and 20.0% of our common units respectively.

CGC is a privately held company controlled by Mr. Miltiadis Marinakis the son of Mr. Evangelos M. Marinakis who also controls our general partner Capital GP L.L.C. (“CGP”) and Capital Gas Corp. On March 30, 2022, CGC transferred all 1,153,846 common units held by it to Capital Gas Corp. As of December 31, 2022 Capital Gas Corp. may be deemed to beneficially own a 5.7% of our common units. As of December 31, 2021, CGC may have been deemed to beneficially own 5.9% of our common units.

On July 8, 2022, the Partnership fully repaid the amount of $10,000 in line with the CGC Seller’s Credits entered into in August 2021, in connection with the acquisition of the LNG/C Aristos I and the LNG/C Aristarchos from CGC (Note 7).

On June 6, 2022, the Partnership entered into a Master Vessel Acquisition Agreement (the “Master Agreement”) with CMTC for the acquisition of one 174,000 Cubic Meters (“CBM”) LNG/C vessel and three 13,312 Twenty-foot Equivalent Unit (“TEU”) container carrier vessels (Note 5). In October 2022, the Partnership acquired from CMTC the shares of the company owning one of the three 13,312 TEU container carrier vessels, which entered into a floating fee management agreement with Capital-Executive Ship Management Corp. (“Capital-Executive”), a privately held company ultimately controlled by Mr. Miltiadis Marinakis.

During the year ended December 31, 2021, the Partnership acquired from CGC the shares of the companies owning the LNG/C Aristos I, the LNG/C Aristarchos, the LNG/C Attalos, the LNG/C Asklipios, the LNG/C Adamastos and the LNG/C Aristidis I (Note 5). Each of these owning companies entered into a floating fee management agreement with Capital Gas Ship Management Corp. (“Capital-Gas”), a privately held company ultimately controlled by Mr. Miltiadis Marinakis. In connection with the acquisition of the shares of the companies owning the LNG/C Aristos I and the LNG/C Aristarchos, (Note 5) the Partnership entered into two separate Seller’s Credit Agreements with CGC (“CGC Seller’s Credits”) in order to defer $10,000 in total, of the purchase price (Note 7), assumed debt amounting to $304,355 (Note 7) and issued 1,153,846 common units to CGC (Note 12). In connection with the acquisition of the shares of the company owning the LNG/C Attalos, the LNG/C Asklipios, the LNG/C Adamastos and the LNG/C Aristidis I the Partnership assumed debt amounting to $561,989 (Note 7).

During the year ended December 31, 2021, the Partnership also acquired from CMTC the shares of the companies owning the M/V Long Beach Express, the M/V Seattle Express and the M/V Fos Express (Note 5). Each of these three owning companies entered into a floating fee management agreement with Capital-Executive. In connection with the acquisition of these companies the Partnership entered into a Seller’s Credit Agreement with CMTC (“CMTC Seller’s Credit”) in order to defer $6,000 of the purchase price (Notes 5, 7).

4. Transactions with Related Parties – Continued

Further to the transactions described above with CGC and CMTC, the Partnership and its subsidiaries have related party transactions with Capital Ship Management Corp. (“CSM”), Capital-Executive and Capital-Gas (collectively the “Managers”) and the Partnership’s general partner, CGP arising from certain terms of the following management and administrative services agreements.

1. Floating fee management agreements: Under the terms of these agreements the Partnership compensates its Managers for expenses and liabilities incurred on the Partnership’s behalf while providing the agreed services, including, but not limited to, crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating costs. Costs and expenses associated with a managed vessel’s next scheduled dry-docking are borne by the Partnership and not by the Managers. The Partnership also pays its Managers a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index. For the years ended December 31, 2022, 2021 and 2020, management fees under the management agreements amounted to $9,172, $5,923 and $4,976, respectively, and are included in “Vessel operating expenses – related parties” in the consolidated statements of comprehensive income.

2. Administrative and service agreements: On April 4, 2007, the Partnership entered into an administrative services agreement with CSM, pursuant to which CSM has agreed to provide certain administrative management services to the Partnership such as accounting, auditing, legal, insurance, IT and clerical services. In addition, the Partnership reimburses CSM and CGP for reasonable costs and expenses incurred in connection with the provision of these services, after CSM 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 consolidated statements of comprehensive income. In 2015, the Partnership entered into an executive services agreement with CGP, which was amended further in 2022, according to which CGP provides certain executive officers services for the management of the Partnership’s business as well as investor relations and corporate support services to the Partnership. For the years ended December 31, 2022, 2021 and 2020 such fees amounted to $2,050, $1,880 and $1,880, respectively and are included in “General and administrative expenses” in the consolidated statements of comprehensive income.

Balances and transactions with related parties consisted of the following:

Consolidated Balance Sheets As of As of

December 31, 2022 December 31, 2021

Assets:

Capital-Executive – advances from the Partnership (a) $ 3,636 $ —

Due from related party $ 3,636 $ —

Advances for vessels under construction – related party (b) $ 24,000 $ —

Liabilities:

CSM – payments on behalf of the Partnership (c) 705 92

Management fee payable to CSM (d) 25 25

Capital-Executive – payments on behalf of the Partnership (c) — 1,188

Management fee payable to Capital-Executive (d) — 417

Capital-Gas – payments on behalf of the Partnership (c) 107 721

Management fee payable to Capital-Gas (d) 179 342

Due to related parties $ 1,016 $ 2,785

For the years ended December 31,

Consolidated Statements of Comprehensive Income 2022 2021 2020

Vessel operating expenses $ 9,172 $ 5,923 $ 4,976

General and administrative expenses (e) 2,244 2,013 2,049

4. Transactions with Related Parties – Continued

(a) Managers - Advances from the Partnership: This line item represents the amount advanced from the Partnership for operating and voyage expenses that will be paid by the Managers on behalf of the Partnership and its subsidiaries.

(b) Advances for vessels under construction – related party: This line item includes advances paid by the Partnership to CMTC in respect of the Master Agreement.

(c) Managers - Payments on Behalf of the Partnership: This line item represents the amount outstanding for payments for operating and voyage expenses made by the Managers on behalf of the Partnership and its subsidiaries.

(d) Management fee payable to Managers: The amount outstanding as of December 31, 2022 and 2021 represents the management fee payable to the Managers under the management agreements.

(e) General and administrative expenses: This line item mainly includes fees relating to internal audit, investor relations and consultancy fees.

Vessels, net and advances for vessels under construction

12 Months Ended

Dec. 31, 2022

Vessels Net And Advances For Vessels Under Construction

Vessels, net and advances for vessels under construction

5. Vessels, net and advances for vessels under construction

The following table presents an analysis of vessels, net:

	Vessel cost		Accumulated depreciation		Net book value
Balance as at January 1, 2021	$	923,020	$	(210,823)	$	712,197
Vessel acquisitions		1,256,858		—		1,256,858
Vessel disposals		(180,358)		36,123		(144,235)
Improvements		374		—		374
Depreciation for the year		—		(43,336)		(43,336)
Balance as at December 31, 2021	$	1,999,894	$	(218,036)	$	1,781,858
Vessel acquisitions		121,583		—		121,583
Advances for vessels under construction – related party (Note 4)		24,000		—		24,000
Vessel disposals		(143,692)		63,159		(80,533)
Improvements		1,873		—		1,873
Depreciation for the year		—		(66,884)		(66,884)
Balance as at December 31, 2022	$	2,003,658	$	(221,761)	$	1,781,897

Two vessels with an aggregate net book value of $316,910 as of December 31, 2022, have been provided as collateral under the terms of the Partnership’s credit facilities (Note 7). This excludes 11 vessels financed through sale and lease back agreements, for which the title of ownership is held by the relevant lender, with an aggregate net book value of $1,173,226 as of December 31, 2022, (Note 7) and seven unencumbered vessels of an aggregate net book value of $267,761 as of December 31, 2022.

Vessel acquisitions and advances

· For the year 2022

On June 6, 2022, the Partnership entered into the Master Agreement with CMTC and agreed to exercise its right of first offer in order to acquire one 174,000 CBM latest generation X-DF LNG/C vessel and three 13,312 TEU hybrid scrubber-fitted dual fuel ready eco container carrier sister vessels from CMTC, for total consideration of $596,583. On June 21, 2022, the Partnership paid total advances in relation to the above agreement of $30,000.

On October 12, 2022, the Partnership acquired from CMTC the shares of the company owning the M/V Manzanillo Express for a total consideration of $121,583 which was funded through debt of $105,000 (Note 7), by granting 505,204 common units to CMTC out of the Partnership’s treasury units (Note 12), by a $6,000 advance paid in June 2022 and cash at hand. The Partnership accounted for this acquisition as acquisition of an asset since the fair value of the vessel and the time charter attached are concentrated in a single identifiable asset. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the terms of the agreement were at market on the acquisition date and therefore the total consideration amount was allocated to the vessel’s cost.

5. Vessels, net and advances for vessels under construction - Continued

Vessel acquisitions and advances - Continued

· For the year 2022 - Continued

The second container carrier vessel, the M/V Itajai Express was acquired by the Partnership in January 2023 (Note 16). As of December 31, 2022, the Partnership had paid an advance of $6,000 being part of the advance paid in June 2022 to CMTC in connection with this acquisition.

The third container vessel, to be named “Buenaventura Express”, is currently under construction by Hyundai Samho Heavy Industries Co. Ltd., (“Hyundai Samho”) and is scheduled for delivery to the Partnership in June 2023, upon its respective delivery from the shipyard. The total consideration for the acquisition of the shares of the company owning the M/V Buenaventura Express from CMTC is $122,500. As of December 31, 2022, the Partnership had paid an advance of $6,000 being part of the advance paid in June 2022 to CMTC in connection with this acquisition.

The LNG/C Asterix I, was acquired by the Partnership in February 2023 (Note 16). As of December 31, 2022, the Partnership had paid an advance of $12,000 in June 2022 to CMTC in connection with this acquisition.

· For the year 2021

On November 29, 2021 the Partnership entered into a Share Purchase Agreement (“SPA”) with CGC for the acquisition of the shares of the company owning a 174,000 CBM LNG/C vessel, namely the LNG/C Adamastos, built in 2021, at Hyundai Heavy Industries Co., Ltd (“Hyundai”) for a total consideration of $220,000. The LNG/C Adamastos was delivered to the Partnership on November 29, 2021.

On November 18, 2021 the Partnership entered into two separate SPAs with CGC for the acquisition of the shares of the companies owning two 174,000 CBM LNG vessels, namely the LNG/C Asklipios and the LNG/C Attalos, built in 2021, at Hyundai for a total consideration of $196,000 and $207,000, respectively. The LNG/C Asklipios and the LNG/C Attalos were delivered to the Partnership on November 18, 2021.

On August 31, 2021 the Partnership entered into three separate SPAs with CGC for the acquisition of the shares of the companies owning three 174,000 CBM LNG/C vessels, namely the LNG/C Aristos I, built in 2020 and the LNG/Cs Aristarchos and Aristidis I, both built in 2021, at Hyundai for a total consideration of $203,139, $191,639 and $205,000 respectively. The LNG/C Aristos I and the LNG/C Aristarchos were delivered to the Partnership on September 3, 2021, while the LNG/C Aristidis I was delivered on December 16, 2021.

On January 27, 2021, the Partnership entered into three separate SPAs with CMTC for the acquisition of the shares of the companies owning three 5,089 TEU sister container vessels, namely the M/V Long Beach Express, the M/V Seattle Express and the M/V Fos Express, all built in 2008 at Hanjin Heavy Industries S. Korea, for a total consideration of $40,500. In addition, the Partnership recognized expenses of $250, included in vessels’ cost, in connection with the acquisition of the three container vessels. The M/V Long Beach Express, the M/V Seattle Express and the M/V Fos Express were delivered to the Partnership on February 25, 2021.

All vessels were acquired with attached charter party agreements.

The Partnership accounted for these acquisitions as acquisition of assets since the fair values of the vessels and the time charters attached are concentrated in a single identifiable asset. The Partnership considered whether any value should be assigned to the attached charter party agreements acquired and concluded that the contracted daily charter rate for the LNG/C Aristos I, the LNG/C Aristidis I, the LNG/C Attalos and the LNG/C Adamastos were above the market rate and for the LNG/C Aristarchos, the LNG/C Asklipios, the M/V Long Beach Express, the M/V Seattle Express and the M/V Fos Express were below the market rate on the acquisition date and therefore the total consideration was allocated to the vessel’s cost and the above and below market acquired charters, respectively. The Partnership allocated the cost of the vessels and the time charters acquired on the basis of their relative fair values.

The vessels were recorded in the Partnership’s financial statements at a total value of $1,256,858, reflecting a net reduction of $6,670 from the acquisition cost of $1,263,528 due to the value of the charters that were attached to the vessels at the time of the respective acquisitions (Note 6).

5. Vessels, net and advances for vessels under construction - Continued

Improvements

During the year ended December 31, 2022 and 2021, certain of the Partnership’s vessels underwent improvements. The costs of these improvements amounted to $1,873 and $374 respectively and were capitalized as part of the vessels’ cost. Improvements during the year ended December 31, 2022, included the cost of $1,524 relating to the installation of ballast water treatment (“BWT”) systems for certain of the Partnership’s vessels. During the year ended December 31, 2021, no such installations took place.

During the year ended December 31, 2022 and 2021, the Partnership paid advances of $1,498 and $336 respectively, relating to the purchase of exhaust gas cleaning systems (“Scrubbers”) and BWT systems that will be installed to certain of its vessels.

Vessel disposals

On May 30, 2022, the Partnership entered into two separate Memorandum of Agreements (“MOA”) for the sale of the M/V Archimidis and the M/V Agamemnon to an unaffiliated party for total consideration of $65,000 each. The Partnership decided to enter into these MOAs after receiving the Buyers’ purchase enquiries, which were opportunistic in nature. Upon entering the MOAs, the Partnership considered that the M/V Archimidis and the M/V Agamemnon met the criteria to be classified as held for sale. At that time the vessels’ fair value less cost to sell exceeded their carrying amount, so no impairment charge was recognized in the Partnership’s consolidated statement of comprehensive income for the year ended December 31, 2022. The M/V Archimidis was delivered to its new owner on July 6, 2022, and the M/V Agamemnon on July 28, 2022.

For the year ended December 31, 2022, the Partnership recognized a gain on sale of vessels analyzed as follows:

Vessel M/V Agamemnon M/V Archimidis Total

Sale price $ 65,000 $ 65,000 $ 130,000

Carrying value on sale (41,806) (38,727) (80,533)

Other sale expenses (1,099) (1,093) (2,192)

Gain on sale $ 22,095 $ 25,180 $ 47,275

On April 7, 2021, the Partnership entered into two separate MOAs with a third party for the sale of the M/V CMA CGM Magdalena and the M/V Adonis at a price of $99,000 and $96,000, respectively. The Partnership decided to enter into these MOAs after receiving the Buyers’ purchase enquiries which were opportunistic in nature. Upon entering the MOAs the Company considered that both vessels met the criteria to be classified as held for sale. At that time the vessels’ fair value less cost to sell exceeded their carrying amount, so no impairment charge was recognized in the Partnership’s consolidated statement of comprehensive income for the year ended December 31, 2021. The vessels were delivered to their new owners on May 17, 2021 and December 13, 2021, respectively. For the year ended December 31, 2021, the Partnership recognized a gain on the sale of vessels analyzed as follows:

Vessels, net and advances for vessels under construction - Disposals (Table)

Vessel M/V CMA CGM Magdalena M/V Adonis Total

Sale price $ 99,000 $ 96,000 $ 195,000

Carrying value on sale (71,598) (72,637) (144,235)

Other sale expenses (2,018) (1,935) (3,953)

Gain on sale $ 25,384 $ 21,428 $ 46,812

Above / Below market acquired charters

12 Months Ended

Dec. 31, 2022

Above Below Market Acquired Charters

Above / Below market acquired charters

6. Above / Below market acquired charters

During the year ended December 31, 2022, the Partnership acquired the M/V Manzanillo Express with time charter attached to the vessel, with time charter daily rate being at market rate for equivalent time charter prevailing at the time of acquisition (Note 5). As a result, no above / below market acquired charter was recognized.

During the year ended December 31, 2021, the Partnership acquired the LNG/C Aristos I, the LNG/C Aristidis I, the LNG/C Attalos and the LNG/C Adamastos with time charters attached to the vessels, with time charters daily rates being above the market rates for equivalent time charters prevailing at the time of acquisitions (Note 5). During the year ended December 31, 2021, the Partnership acquired the LNG/C Aristarchos, the LNG/C Asklipios, the M/V Long Beach Express, the M/V Seattle Express and the M/V Fos Express with time charters attached to the vessels with time charters daily rates being below the market rates for equivalent time charters prevailing at the time of acquisitions (Note 5). The fair value of the time charters attached to the vessels representing the difference between the time charters rates at which the vessels were fixed and the market rates for comparable charters as determined by reference to market data on the acquisition dates were recorded as “Above market acquired charters” under other non-current assets or “Below market acquired charters” under long-term liabilities in the consolidated balance sheet as of the acquisition dates respectively. The fair values of the time charters attached were determined using Level 2 inputs being market values on the acquisition dates (Note 8).

Above and below market acquired time charters are amortized or accreted using the straight-line method over the remaining period of the time charters acquired as a reduction or addition to time charter revenues. For the years ended December 31, 2022 and 2021 such amortization to time charter revenues for the above market acquired time charters amounted to $16,285 and $9,949, respectively. For the years ended December 31, 2022 and 2021 such accretion to time charter revenues for the below market acquired time charters amounted to $4,275 and $2,662, respectively.

The following table presents an analysis of above / below market acquired charters:

		Above market acquired charters		Below market acquired charters
Carrying amount as at January 1, 2021	$	34,579	$	—
Additions		23,975		(17,305)
(Amortization) / accretion		(9,949)		2,662
Carrying amount as at December 31, 2021	$	48,605	$	(14,643)
(Amortization) / accretion		(16,285)		4,275
Carrying amount as at December 31, 2022	$	32,320	$	(10,368)

As of December 31, 2022, the remaining carrying amount of unamortized above / below market acquired time charters will be amortized / accreted in future years as follows:

For the year ending December 31,		Above market acquired charters		Below market acquired charters
2023	$	15,407	$	(4,275)
2024		11,301		(4,287)
2025		3,935		(1,806)
2026		1,677		—
Total	$	32,320	$	(10,368)

Long-Term Debt

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt

7. Long-Term Debt

Long-term debt consists of the following credit facilities, sale and lease back agreements and unsecured bonds:

Long-Term Debt - Bank Loans (Table)

			As of December 31, 2022		As of December 31, 2021	Rate of interest
	*Credit facilities*
(i)	Issued in September 2017 fully repaid in August 2022 (the “2017 credit facility”)	$	—	$	106,047	Margin + Libor
(ii)	Issued in January 2020 fully repaid in August 2022 (the “2020 credit facility”)		—		32,480	Margin + Libor
(iii)	Issued in January 2021 maturing in February 2026 (the “CMTC Seller’s Credit”)		6,000		6,000	Fixed rate
(iv)	Issued in August 2021 fully repaid in July 2022 (the “CGC Seller’s Credit”)		—		5,000	Fixed rate
(v)	Issued in August 2021 fully repaid in July 2022 (the “CGC Seller’s Credit”)		—		5,000	Fixed rate
(vi)	Assumed in December 2021 maturing in December 2027 (the “2021 credit facility”)		110,827		120,566	Margin + Libor
(vii)	Issued in October 2022 maturing in October 2028 (the “2022 credit facility”)		105,000		—	Margin + Secured Overnight Financing Rate (“SOFR”)
	*Sale and lease back agreements*
(viii)	Issued in January 2020 maturing in January 2025 (the “2020 CMBFL”)		29,700		32,900	Margin + Libor
(ix)	Issued in January 2020 maturing in January 2025 (the “2020 CMBFL”)		29,700		32,900	Margin + Libor
(x)	Issued in May 2020 maturing in May 2027 (the “ICBCFL”)		41,996		45,660	Margin + Libor
(xi)	Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”)		8,083		9,184	Margin + Libor
(xii)	Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”)		8,083		9,184	Margin + Libor
(xiii)	Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”)		8,083		9,184	Margin + Libor
(xiv)	Assumed in September 2021 maturing in October 2027 (the “2021 Bocomm”)		138,888		144,744	Margin + Libor
(xv)	Assumed in September 2021 maturing in May 2028 (the “2021 Bocomm”)		132,217		151,299	Margin + Libor
(xvi)	Assumed in November 2021 maturing in August 2028 (the “2021 CMBFL - LNG/C”)		139,183		146,315	Margin + Libor
(xvii)	Assumed in November 2021 maturing in September 2028 (the “2021 CMBFL - LNG/C”)		138,072		147,493	Margin + Libor
(xviii)	Assumed in November 2021 maturing in July 2036 (the “2021 Shin Doun”)		136,778		142,609	Fixed rate
	*Unsecured Bonds*
(xix)	Issued in October 2021 maturing in October 2026 (the “2021 Bonds”)		159,966		170,862	Fixed rate
(xx)	Issued in July 2022 maturing in July 2029 (the “2022 Bonds”)		106,644		—	Fixed rate
	Total long-term debt		1,299,220		1,317,427
	Less: Deferred loan and financing arrangements issuance costs		10,142		8,453
	Total long-term debt, net		1,289,078		1,308,974
	Less: Current portion of long-term debt		75,438		100,144
	Add: Current portion of deferred loan and financing arrangements issuance costs		2,225		2,265
	Long-term debt, net	$	1,215,865	$	1,211,095

7. Long-Term Debt – Continued

Changes in the credit facilities for the years 2022 and 2021 are as follows:

For the year 2022

“2022 Sale and lease back agreement”

On December 23, 2022 the Partnership entered into a new sale and lease back agreement of up to $108,000, for the purpose of partially financing the acquisition of the shares of the company owning the M/V Itajai Express (Notes 5, 16). The full amount of the sale and lease back agreement was drawn on January 6, 2023 and has a duration of eight years.

“2022 credit facility” (vii)

On October 6, 2022 the Partnership entered into a new credit facility of up to $105,000, for the purpose of partially financing the acquisition of the shares of the company owning the M/V Manzanillo Express (Note 5). The full amount of the facility was drawn on October 11, 2022 and has a duration of six years.

“2017 credit facility” (i)

On August 10, 2022 the Partnership fully repaid the remaining balance of the 2017 credit facility (i), amounting to $65,822. On July 28, and July 6, 2022 the Partnership repaid part of the 2017 credit facility, amounting to $14,228 and $13,789 as a result of the sale of the M/V Agamemnon and the M/V Archimidis respectively (Note 5).

“2020 credit facility” (ii)

On August 5, 2022 the Partnership fully repaid the remaining balance of the 2020 credit facility, amounting to $29,900.

“CGC Seller’s Credit” (iv) and (v)

On July 8, 2022 the Partnership fully repaid the amount of $10,000 in line with the two CGC Seller’s Credits that the Partnership entered into on August 31, 2021 in order to defer $5,000 of the purchase price of each of the LNG/C Aristos I and the LNG/C Aristarchos, acquired on September 3, 2021 (Notes 4, 5). The CGC Seller’s Credits bared no interest and were payable within one year from the vessel’s delivery date.

“2022 Bonds” (xx)

On July 22, 2022 the Partnership, through its wholly owned subsidiary, CPLP PLC (the “Issuer”), issued unsecured bonds on the Athens Stock Exchange of an amount of €100,000,000 or $106,664 (translated as of December 31, 2022). The 2022 Bonds are guaranteed by the Partnership and have a seven year duration and pay a fixed coupon of 4.40%, payable semi-annually. The settlement occurred on July 26, 2022.

The 2022 Bonds contain requirements such as that the ratio of EBITDA to net interest expenses be no less than 2:1, a restricted cash requirement and that the ratio of net total indebtedness to the total assets of the Partnership adjusted for the market value of the fleet not exceed 0.75:1. In addition, the 2022 Bonds require that:

	·	the Partnership maintain a pledged Debt Service Reserve Account (“DSRA”) with a minimum balance €100,000;
	·	the Partnership deposit to the DSRA 50% of any cash disbursements to unitholders (e.g., dividends) exceeding $20,000 per annum, capped at 1/3 of the par value of the 2022 Bonds outstanding at the time; and
	·	if the Partnership’s Market Value Adjusted Net Assets (“MVAN”) falls below $300,000 then to deposit to the DSRA the difference between the MVAN and the $300,000 (capped to 1/3 of the par value of the 2022 Bonds outstanding).

7. Long-Term Debt – Continued

For the year 2021

“2021 credit facility” (vi)

On December 16, 2021, upon the completion of the acquisition of the LNG/C Aristidis I (Note 5) the Partnership assumed the outstanding balance of $123,001, of the credit facility that the company owning the vessel had entered into with ING Bank N.V., London Branch (“2021 credit facility”). The loan agreement for the LNG/C Aristidis I has a remaining duration, from the date of the vessel’s acquisition from the Partnership, of six years.

“2021 Shin Doun” (xviii)

On November 29, 2021, upon the completion of the acquisition of the LNG/C Adamastos (Note 5) the Partnership assumed the outstanding balance of $143,103, of the sale and leaseback agreement that the company owning the vessel had entered into with a subsidiary of Shin Doun Kisen Co., Ltd. (“Shin Doun”). The lease agreement for the LNG/C Adamastos has a remaining duration, from the date of the vessel’s acquisition from the Partnership, of 14.7 years.

“2021 CMBFL - LNG/C” (xvi) and (xvii)

On November 18, 2021, upon the completion of the acquisition of the LNG/C Attalos and the LNG/C Asklipios (Note 5) the Partnership assumed the outstanding balances of $146,315 and $149,570, respectively, of the two separate sale and leaseback agreements that the companies owning the vessels had entered into with two subsidiaries of CMB Financial Leasing Co., Ltd (“CMBFL”). The lease agreements for the LNG/C Attalos and the LNG/C Asklipios have remaining durations, from the date of the vessels’ acquisition from the Partnership of 6.7 and 6.9 years respectively.

“2021 Bocomm” (xiv) and (xv) and “CGC Seller’s Credit” (iv) and (v)

On September 3, 2021, upon the completion of the acquisition of the LNG/C Aristos I and the LNG/C Aristarchos (Note 5) the Partnership assumed the outstanding balances of $148,920 and $155,435, respectively, of the two separate sale and leaseback agreements that the companies owning the vessels had entered into with two subsidiaries of Bank of Communications Financial Leasing Co., Ltd (“Bocomm”). The lease agreements for the LNG/C Aristos I and the LNG/C Aristarchos have a remaining duration from the date of the vessel’s acquisition from the Partnership of 6.1 and 6.7 years respectively. Furthermore, on August 31, 2021 the Partnership entered into two CGC Seller’s Credits (iv) and (v) to defer $5,000 of the purchase price for each vessel (Notes 4, 5). The CGC Seller’s Credits bear no interest and are payable within one year from the vessel’s delivery date.

“2021 CMBFL - Panamax” (xi), (xii) and (xiii) and “CMTC Seller’s Credit” (iii)

On January 22, 2021, the Partnership entered into three separate sale and lease back agreements with CMBFL for up to $10,010 each in order to partially finance the acquisition of the share of the companies owning the vessels M/V Long Beach Express, M/V Seattle Express and M/V Fos Express (Note 5). Each lease agreement has a duration of five years. Furthermore, on January 27, 2021 the Partnership entered into a Seller’s Credit with CMTC (iii) to defer $6,000 of the purchase price for up to five years from the delivery of the vessels (Notes 4, 5).

“2021 Bonds” (xix)

On October 20, 2021 the Partnership, through its wholly subsidiary, CPLP PLC (the “Issuer”), issued unsecured bonds on the Athens Stock Exchange of an amount of €150,000,000 or $170,862 (translated as of December 31, 2021). The 2021 Bonds are guaranteed by the Partnership and have a five year duration and pay a fixed coupon of 2.65%, payable semi-annually. The settlement occurred on October 22, 2021 and the proceeds were used to partially finance the acquisition of the shares of the companies owning the LNG/C Attalos, the LNG/C Asklipios and the LNG/C Adamastos. The 2021 Bonds contain requirements such as that the ratio of EBITDA to net interest expenses be no less than 2:1, a restricted cash requirement and that the ratio of net total indebtedness to the total assets of the Partnership adjusted for the market value of the fleet not exceed 0.75:1. In addition, the 2021 Bonds require that:

	·	the Partnership maintain a pledged (DSRA) with a minimum balance €100,000;
	·	the Partnership deposit to the DSRA 50% of any cash disbursements to unitholders (e.g., dividends) exceeding $20,000 per annum, capped at 1/3 of the par value of the 2021 Bonds outstanding at the time; and
	·	if the Partnership’s MVAN falls below $300,000 then to deposit to the DSRA the difference between the MVAN and the $300,000 (capped to 1/3 of the par value of the 2021 Bonds outstanding).

7. Long-Term Debt – Continued

For the year 2021 – Continued

“ICBCFL” (x)

On May 27, 2020 the Partnership drew down the total amount of $155,350 pursuant to three separate agreements entered into in May 2020 with ICBC Financial Leasing Co., Ltd. (“ICBCFL”), for the sale and lease back of three vessels previously under the 2017 credit facility (the “Re-financing”), namely the M/V Akadimos, the M/V Adonis and the M/V CMA CGM Magdalena, and fully repaid the then outstanding balance relating to these three vessels under the 2017 credit facility amounting to $116,515. The leases have a duration of seven years. Following the sale of the M/V CMA CGM Magdalena and the M/V Adonis, in May and December 2021, respectively, the Partnership fully repaid the amount of $96,205 related to the two of the three ICBCFL agreements.

All the Partnership’s sale and leaseback agreements were classified as financing arrangements since the existence of various purchase options retained by the Partnership commencing from the first-year anniversary and including either an obligation or an option to acquire each vessel at expiration at a predetermined price, precludes the transfer of control over the vessels.

During the years ended December 31, 2022 and 2021 the Partnership prepaid the amount of $133,739 and $96,205, as a result from the sale of its vessels (Note 5) and the full repayment of 2017 and 2020 credit facilities respectively, and repaid the amount of $85,215 and $49,266, respectively, in line with the amortization schedule of its credit facilities and financing arrangements.

The Partnership’s credit facilities and sale and lease back agreements contain customary ship finance covenants, including restrictions on changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness and the mortgaging of vessels and requirements such as that the ratio of EBITDA to net interest expenses be no less than 2:1, a minimum cash requirement of $500 per vessel, that the ratio of net total indebtedness to the total assets of the Partnership adjusted for the market value of the fleet not exceed 0.75:1. The Partnership’s credit facilities and financing arrangements also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% of the outstanding amounts under the 2022 credit facility and the ICBCFL, 120% of the outstanding amount under the 2020 CMBFL, the 2021 CMBFL-Panamax and the 2021 credit facility, 110% of the outstanding amount under the 2021 CMBFL-LNG/C and 111% of the outstanding amount under the 2021 Bocomm. Also, the vessel-owning companies may pay dividends or make distributions only when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2022, and 2021 the Partnership was in compliance with all financial covenants.

The Partnership’s credit facilities and sale and lease back agreements include a general assignment of the earnings, insurances and requisition compensation of the respective collateral vessel or vessels. They also require additional security, such as pledge and charge on current accounts and mortgage interest insurance.

As of December 31, 2022, there were $108,000 undrawn under the Partnership’s credit facilities and financing arrangements. The full amount was drawn on January 6, 2023, with the purpose of partially financing the acquisition of the shares of the company owning the M/V Itajai Express (Note 16).

For the years ended December 31, 2022, 2021 and 2020, the Partnership recorded interest expense of $52,465, $16,586 and $13,761 respectively, which is included in “Interest expense and finance cost” in the consolidated statements of comprehensive income.

For the years ended December 31, 2022, 2021 and 2020 the weighted average interest on the Partnership’s long-term debt was 4.1%, 2.9% and 3.6% respectively.

The required annual payments to be made subsequently to December 31, 2022 are as follows:

For the year ending December 31,		Amount
2023	$	75,437
2024		68,097
2025		107,161
2026		237,826
2027		238,752
Thereafter		571,947
Total	$	1,299,220

- 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.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 470
-URI https://asc.fasb.org/topic&trid=2208564

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Topic 470
-SubTopic 20
-Section 50
-Paragraph 1B
-Subparagraph (h)
-URI https://asc.fasb.org/extlink&oid=123466505&loc=SL123495323-112611

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
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+ Details

Financial Instruments

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments

8. Financial Instruments

(a) Fair value of financial instruments

The carrying value of cash and cash equivalents and restricted cash, are considered Level 1 items as they represent liquid assets with short-term maturities, trade receivables, amounts due to related parties, trade accounts payable and accrued liabilities approximate their fair value.

The fair value of variable rate long-term debt (Note 7) approximates the recorded value, due to its variable interest being based on the LIBOR and the SOFR rates and due to the fact that the lenders have the ability to pass on their funding cost to the Partnership under certain circumstances, which reflects their current assessed risk. We believe the terms of our loans are similar to those that could be procured as of December 31, 2022. LIBOR and SOFR rates are observable at commonly quoted intervals for the full term of the loans and hence bank loans are considered Level 2 items in accordance with the fair value hierarchy.

The fair value of the fixed rate long-term debt (Note 7 ((iii) and (xviii)) as of December 31, 2022 was approximately $121,720 (carrying value: $142,778) and was determined by using Level 2 inputs being the discounted expected cash flows of the outstanding amount.

The 2022 Bonds and the 2021 Bonds (Note 7 ((xix) and (xx))) have a fixed rate, and their estimated fair values as of December 31, 2022 were determined through Level 1 inputs of the fair value hierarchy (quoted price under the ticker symbols CPLPB1 and CPLPB2 on Athens Stock Exchange) and were approximately $228,424 (carrying value: $266,610).

There were no Level 3 items.

Derivative instruments

In connection with the issuance of the 2022 Bonds and the 2021 Bonds (Note 7), the Partnership entered into certain cross-currency swap agreements to manage the related foreign currency exchange risk by effectively converting the fixed-rate, Euro-denominated Bonds, including the semi-annual interest payments for the period from July 26, 2022 to July 26, 2029 and from October 21, 2021 to October 21, 2025, respectively to fixed-rate, U.S. Dollar-denominated debt. The economic effect of the swap agreements is to eliminate the uncertainty of the cash flows in U.S. Dollars associated with the issuance of the 2022 Bonds and the 2021 Bonds by fixing the principal amount of the 2022 Bonds and the 2021 Bonds, with a fixed annual interest rate. The cross-currency swap agreement related to the 2022 Bonds was designated as an accounting hedge.

Derivative instruments not designated as hedges are not speculative and are used to manage the Partnership’s exposure to identified risks but do not meet the strict hedge accounting requirements and/or the Partnership has not elected to apply hedge accounting. Changes in the fair value of derivatives not designated in hedging relationships are recorded directly in the consolidated statements of comprehensive income.

Changes in the fair value of derivatives designated as accounting hedges are recorded in the consolidated statements of other comprehensive income (effective portion), until the hedged item is recognized in the consolidated statements of comprehensive income.

The following table summarizes the terms of the cross-currency swap agreements and their respective fair value as of December 31, 2022.

Derivative Liabilities:

Effective Date	Termination Date	Notional Amount in thousands EURO	Notional Amount in United States Dollars	Fixed Rate the Partnership receives in EURO	Fixed Rate the Partnership pays in United States Dollars		Fair Value December 31, 2022 in United States Dollars
21/10/2021	21/10/2025	120,000	139,716	2.65%	3.655%	$	10,068
21/10/2021	21/10/2025	30,000	34,929	2.65%	3.690%		2,641
26/07/2022	26/07/2029	100,000	101,800	4.40%	6.550%		816
					Total Fair Value	$	13,525

8. Financial Instruments – Continued

(a) Fair value of financial instruments – Continued

Derivative instruments – Continued

The following tables summarize the effect of the cross-currency swap agreements for the years ended December 31, 2022, 2021 and 2020.

Derivative designated as accounting hedge

Amount of gain / (loss) recognized in other comprehensive loss

2022 2021 2020

Cross-currency swap agreement related to the 2022 Bonds $ (1,757) $ — $ —

Reclassification to other income / (expense), net (3,009) — —

Total recognized in other comprehensive loss $ (4,766) $ — $ —

Derivatives not designated as accounting hedges

Amount of gain / (loss) recognized in other income / (expense), net

2022 2021 2020

Change in fair value of derivatives related to the 2021 Bonds $ (9,542) $ (3,167) $ —

Realized interest income / (expense), net of derivatives related to the 2021 Bonds (2,258) (374) —

Total recognized in other income / (expense), net $ (11,800) $ (3,541) $ —

The estimated net expense that is expected to be reclassified within the next 12 months from Other Comprehensive Loss to earnings in respect of the settlements on cross-currency swaps amounts to $1,987.

The fair value of the cross-currency swap agreements is presented net of accrued interest expense which is recorded in “Accrued liabilities” in the consolidated balance sheets.

Items Measured at Fair Value on a recurring Basis - Fair Value Measurements

Recurring Measurements 2022: December 31, 2022 Quoted prices in active markets for identical assets (Level 1) Significant other Observable inputs (Level 2) Unobservable Inputs (Level 3)

Cross Currency SWAP (120,000) $ 10,068 $ — $ 10,068 $ —

Cross Currency SWAP (30,000) 2,641 — 2,641 —

Cross Currency SWAP (100,000) 816 — 816 —

Total $ 13,525 $ — $ 13,525 $ —

The fair value (Level 2) of cross-currency swap derivative agreements is the present value of the estimated future cash flows that we would receive or pay to terminate the agreements at the balance sheet date, taking into account, as applicable, current interest rates, foreign exchange rates and the credit worthiness of both us and the derivative counterparty. This line item is presented in “Derivative liabilities” in the consolidated balance sheets.

(b) Concentration of credit risk

Financial instruments which potentially subject the Partnership to significant concentrations of credit risk consist principally of cash and cash equivalents and trade accounts receivable, net. The Partnership places its cash and cash equivalents, consisting mostly of deposits, with a limited number creditworthy financial institutions rated by qualified rating agencies. Most of the Partnership’s revenues were derived from a few charterers.

Accrued Liabilities

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accrued Liabilities

9. Accrued Liabilities

Accrued liabilities consist of the following:

Accrued liabilities (Table)


	As of December 31,
		2022		2021
Accrued loan interest and loan fees	$	8,139	$	3,355
Accrued operating expenses		4,746		4,076
Accrued capitalized expenses		1,246		371
Accrued voyage expenses and commissions		2,003		2,472
Accrued general and administrative expenses		1,342		1,121
Total	$	17,476	$	11,395

Voyage Expenses and Vessel Operating Expenses

12 Months Ended

Dec. 31, 2022

Voyage Expenses And Vessel Operating Expenses

Voyage Expenses and Vessel Operating Expenses

10. Voyage Expenses and Vessel Operating Expenses

Voyage expenses and vessel operating expenses consist of the following:


	For the years ended December 31,
		2022		2021		2020
Voyage expenses:
Commissions	$	6,134	$	4,278	$	2,809
Bunkers		7,365		4,204		1,349
Port expenses		1,819		1,633		624
Other		918		583		1,519
Total	$	16,236	$	10,698	$	6,301
Vessel operating expenses:
Crew costs and related costs	$	34,385	$	22,575	$	16,624
Insurance expense		5,261		4,029		2,388
Spares, repairs, maintenance and other expenses		8,103		6,784		8,836
Stores and lubricants		7,512		5,288		4,593
Management fees (Note 4)		9,610		6,295		4,976
Other operating expenses		2,589		2,151		1,304
Total	$	67,460	$	47,122	$	38,721

Income Taxes

12 Months Ended

Dec. 31, 2022

Income Tax Disclosure [Abstract]

Income Taxes

11. Income Taxes

Under the laws of the Marshall Islands and Liberia, the countries in which the vessel-owning subsidiaries were incorporated, these companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes in the country in which the vessels are registered and managed from, and such taxes have been included in “Vessel operating expenses” in the consolidated statements of comprehensive income.

Pursuant to Section 883 of the United States Internal Revenue Code (the “Code”) and the regulations thereunder, a foreign corporation engaged in the international operation of ships is generally exempt from U.S. federal income tax on its U.S.-source shipping income if the foreign corporation meets both of the following requirements: (a) the foreign corporation is organized in a foreign country that grants an “equivalent exemption” to corporations organized in the United States for the types of shipping income (e.g., voyage and time charter) earned by the foreign corporation and (b) more than 50% of the voting power and value of the foreign corporation’s stock is “primarily and regularly traded on an established securities market” in the United States and certain other requirements are satisfied (the “Publicly-Traded Test”). Each of the jurisdictions where the Partnership’s vessel-owning subsidiaries are incorporated grants an “equivalent exemption” to United States corporations with respect to each type of shipping income earned by the Partnership’s vessel-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be an established securities market. The Partnership has satisfied the Publicly-Traded Test for the years ended December 31, 2022, 2021 and 2020 and the vessel-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income.

CPLP PLC is incorporated in Cyprus and does not conduct any substantive operations of its own. No provision for Cyprus income tax has been made in the financial statements as CPLP PLC had no assessable income for the year ended December 31, 2022 and the period from August 14, 2021 (inception) to December 31, 2021.

- Definition

The entire disclosure for income taxes. Disclosures may include net deferred tax liability or asset recognized in an enterprise's statement of financial position, net change during the year in the total valuation allowance, approximate tax effect of each type of temporary difference and carryforward that gives rise to a significant portion of deferred tax liabilities and deferred tax assets, utilization of a tax carryback, and tax uncertainties information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section 50
-Paragraph 21
-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32857-109319

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 10
-Section S99
-Paragraph 2
-Subparagraph (SAB Topic 11.C)
-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330215-122817

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Section 50
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-URI https://asc.fasb.org/extlink&oid=121826272&loc=d3e32809-109319

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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-Paragraph 1
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-URI https://asc.fasb.org/extlink&oid=122134291&loc=d3e330036-122817

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 740
-SubTopic 30
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-URI https://asc.fasb.org/extlink&oid=6424122&loc=d3e41874-109331

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(h)(2))
-URI https://asc.fasb.org/extlink&oid=120395691&loc=d3e23780-122690

+ Details

Partners’ Capital

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Partners’ Capital

12. Partners’ Capital

General: The Partnership’s Limited Partnership Agreement (the “Partnership Agreement”) requires that within 45 days after the end of each quarter, beginning with the quarter ending June 30, 2007, all of the Partnership’s available cash be distributed to unit holders.

Definition of Available Cash: Available Cash, for each fiscal quarter, consists of all cash on hand at the end of the quarter:

	•	less the amount of cash reserves established by our board of directors to:
		• provide for the proper conduct of the Partnership’s business (including reserves for future capital expenditures and for our anticipated credit needs);
		• comply with applicable law, any of the Partnership’s debt instruments, or other agreements; or
		• provide funds for distributions to the Partnership’s unit holders and to the general partner for any one or more of the next four quarters;
	•	plus all cash on hand on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter. Working capital borrowings are generally borrowings that are made under our credit agreements and in all cases are used solely for working capital purposes or to pay distributions to partners subject to certain exceptions set forth in the Partnership Agreement.

General Partner Interest and IDRs: As of December 31, 2022, the general partner has a 1.69% interest in the Partnership (excluding treasury units) and holds the IDRs. In accordance with Section 5.2(b) of the Partnership Agreement, upon the issuance of additional units by the Partnership, the general partner may elect to make a contribution to the Partnership to maintain its general partner interest.

IDRs represent the right to receive an increasing percentage of quarterly distributions of available cash from operating surplus after the minimum quarterly distribution and the target distribution levels have been achieved. According to the Partnership Agreement, as amended in 2014, the following table illustrates the percentage allocations of the additional available cash from operating surplus among the unit holders and general partner up to the various target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of the unit holders and general partner in any available cash from operating surplus that is being distributed up to and including the corresponding amount in the column “Total Quarterly Distribution Target Amount per Unit,” until available cash from operating surplus the Partnership distributes reaches the next target distribution level, if any. The percentage interests shown for the unit holders and general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests shown below assume that the Partnership’s general partner maintains a 2% general partner interest and that it has not transferred its IDR.

12. Partners’ Capital - Continued

		Marginal Percentage Interest in Distributions
	Total Quarterly Distribution Target Amount per Unit	Unitholders	General Partner
Minimum Quarterly Distribution	$1.6275	98%	2%
First Target Distribution	up to $1.6975	98%	2%
Second Target Distribution	above $1.6975 up to $1.8725	85%	15%
Third Target Distribution	above $1.8725 up to $2.0475	75%	25%
Thereafter	above $2.0475	65%	35%

Following the 2014’s annual general meeting, CGP unilaterally notified the Partnership that it has decided to waive its rights to receive quarterly incentive distributions between $1.6975 and $1.75. This waiver effectively increases the First Target Distribution and the lower band of the Second Target Distribution (as referenced in the table above) from $1.6975 to $1.75.

Distributions of Available Cash from Operating Surplus: Our Partnership Agreement requires that we make distributions of available cash from operating surplus for any quarter after the subordination period in the following manner assuming that the Partnership’s general partner maintains a 2% general partner interest:

	•	first, 98% to all unit holders, pro rata, and 2% to our general partner, until we distribute for each outstanding unit an amount equal to the minimum quarterly distribution for that quarter; and
	•	thereafter, in the manner described in the above table.

Common Units

On October 12, 2022, the Partnership transferred 505,204 common units to CMTC out of the Partnership’s Treasury units with a value at the time of transfer of $6,583, in connection with the acquisition of the M/V Manzanillo Express from CMTC (Notes 4, 5).

On September 3, 2021, the Partnership issued 1,153,846 common units to CGC, as part of the consideration for the acquisition of the LNG/C Aristos I and the LNG/C Aristarchos (Notes 4, 5).

On January 25, 2021, the Partnership’s Board of Directors approved a unit repurchase plan for an amount of $30,000 to be used for repurchasing the Partnership’s common units over the period of up to two years through January 2023. The Partnership could repurchase these units in the open market or in privately negotiated transactions, at times and prices that were considered to be appropriate by the Partnership. For the years ended December 31, 2022 and 2021, the Partnership completed the repurchase of 389,962 and 382,250 units paying an average price per unit of $15.13 and $11.74 plus repurchasing expenses, respectively. These units are held as treasury units and are recorded as a reduction in the Partnership’s Partners’ Capital as of December 31, 2022 and 2021, respectively.

On January 26, 2023, the Partnership’s Board of Directors authorized a new unit repurchase plan, replacing the earlier plan (the “Repurchase Plan”) (Note 16).

During 2022, the Partnership reserve for issuance a maximum number of 750,000 restricted common units. As a result, the total number of restricted common units reserved and issued is 1,045,000 under its Omnibus Incentive Compensation Plan (Note 13).

As of December 31, 2022 and 2021 our partners’ capital included the following units:

	As of December 31, 2022	As of December 31, 2021
Common units	20,255,707	19,394,696
General partner units	348,570	348,570
Treasury Units	566,239	382,250
Total partnership units	21,170,516	20,125,516

Omnibus Incentive Compensation Plan

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Omnibus Incentive Compensation Plan

13. Omnibus Incentive Compensation Plan

In January 2022, the board of directors adopted an amended and restated Compensation Plan (the “Plan”), to reserve for issuance a maximum number of 750,000 restricted common units. As a result, the total number of restricted common units reserved and issued is 1,045,000. On March 18, 2022, the Partnership awarded 743,800 unvested units to Employees and Non-Employees with a grant-date fair value of $15.18 per unit. Awards granted to certain Employees and Non-Employees would vest in three equal installments. One third of the units awarded, namely 247,933 units vested on December 31, 2022. On December 30, 2022, the Partnership awarded 1,969 unvested units with a grant-date fair value of $13.65 per unit. The units were fully vested on December 31, 2022.

The unvested units accrue distributions as declared and paid, which distributions are retained by the custodian of the Plan until the vesting date at which time they are payable to the grantee. As unvested unit grantees accrue distributions on awards that are expected to vest, such distributions are charged to Partners’ capital. As of December 31, 2022 the unvested units accrued $223 of distributions.

There were no forfeitures of awards during the years ended December 31, 2022 and 2021. The Partnership estimated the forfeitures of unvested units to be immaterial.

For the years ended December 31, 2022, 2021 and 2020 the equity compensation expense included in “General and administrative expenses” in the consolidated statements of comprehensive income was $3,790, $2,043 and $2,049, respectively. As of December 31, 2022 the total compensation cost relating to non-vested awards was $7,528 and is expected to be recognized over a period of two years. The Partnership uses the straight-line method to recognize the cost of the awards.

The following table contains details of our plan:

	Equity compensation plan
Unvested Units	Units		Amount
Unvested on January 1, 2021	412,916		4,637
Vested	(412,916)		(4,637)
Unvested on December 31, 2021	—	$	—
Granted	745,769		11,318
Vested	(249,902)		(3,790)
Unvested on December 31, 2022	495,867	$	7,528

Net Income Per Unit

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Unit

14. 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 Agreement, regardless of whether those earnings would or could be distributed. The Partnership Agreement does not provide for the distribution of net income; rather, it provides for the distribution of available cash (Note 12), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves determined by the Partnership’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.

The Partnership also considers whether the Partnership Agreement contains any contractual limitations concerning distributions to the IDRs that would impact the amount of earnings to allocate to the IDRs for each reporting period.

Under the Partnership Agreement, the holder of the IDRs in the Partnership, which is currently CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions (Note 12).

For the year ended December 31, 2022, the Partnership excluded the effect of 745,769 non-vested unit awards, from which 249,902 vested on December 31, 2022, in calculating dilutive EPU for its common unitholders as they were anti-dilutive.

For the year ended December 31, 2021, the Partnership excluded the effect of 412,916 units, which vested on December 31, 2021, as they were anti-dilutive.

14. Net Income Per Unit - Continued

For the year ended December 31, 2020, the Partnership excluded the effect of 412,916, unvested units under the omnibus incentive compensation plan in calculating dilutive EPU for its common unit holders as they were anti-dilutive.

The non-vested units are participating securities because they received distributions from the Partnership and these distributions did not have to be returned to the Partnership if the non-vested units were forfeited by the grantee.

The Partnership’s net income for the years ended December 31, 2022, 2021 and 2020 did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP’s interest in net income.

The two-class method used to calculate EPU from continuing operations is as follows:

BASIC AND DILUTED 2022 2021 2020

Numerators

Partnership’s net income $ 125,421 $ 98,178 $ 30,367

Less:

General Partner’s interest in Partnership’s net income 2,157 1,790 558

Partnership’s net income allocable to unvested units 3,662 2,053 685

Common unit holders’ interest in Partnership’s net income $ 119,602 $ 94,335 $ 29,124

Denominators

Weighted average number of common units outstanding, basic and diluted 19,325,030 18,342,413 18,194,186

Net income per common unit:

Basic and Diluted $ 6.19 $ 5.14 $ 1.60

Commitments and Contingencies

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies

15. Commitments and Contingencies

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 accrues the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure.

An estimated loss from a contingency should be accrued by a charge to expense and a liability recorded only if all of the following conditions are met:

	•	Information available prior to the issuance of the financial statement indicates that it is probable that a liability has been incurred at the date of the financial statements.
	•	The amount of the loss can be reasonably estimated.

Currently, the Partnership is not aware of any such claims or contingent liabilities which should be disclosed or for which a provision should be established in the consolidated financial statements.

15. Commitments and Contingencies - Continued

Commitments

(a) Lease Commitments: Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancellable time charter contracts, as of December 31, 2022 were:

Year ending December 31,

Amount

2023 267,528

2024 232,017

2025 165,569

2026 98,334

2027 95,404

Thereafter 275,852

Total 1,134,704

(b) Vessels’ Acquisitions Commitments: As of December 31, 2022, the Partnership had outstanding commitments relating to acquisitions of vessels, amounting to $451,000 and which are payable within the next twelve months and will be financed by debt and cash at hand (Notes 5, 16).

(c) Vessels’ Equipment Commitments: As of December 31, 2022, the Partnership had outstanding commitments relating to the purchase of Scrubbers and BWT systems on certain of its vessels, amounting to $5,009 and which are payable within the next twelve months.

Subsequent Events

12 Months Ended

Dec. 31, 2022

Subsequent Events [Abstract]

Subsequent Events

16. Subsequent Events

(a) Dividends: On January 26, 2023, the board of directors of the Partnership declared a cash distribution of $0.15 per common unit for the fourth quarter of 2022. The fourth quarter common unit cash distribution was paid on February 10, 2023, to unit holders of record on February 7, 2023.

(b) Sale and lease back agreements: On February 7, 2023, the Partnership entered into a new sale and lease back agreement of up to $184,000, for the purpose of partially financing the acquisition of the shares of the company owning the LNG/C Asterix I (Note 5). The full amount of the sale and lease back agreement was drawn on February 17, 2023 and has a duration of 10 years.

On March 14, 2023, the Partnership fully repaid the 2021 CMBFL - Panamax sale and lease back agreements, with original maturity in February 2026, amounting to $23,423.

(c) Vessel acquisitions: On January 10, 2023, the Partnership acquired from CMTC the shares of the company owning the M/V Itajai Express for a total consideration of $122,500 which was funded through debt of $108,000 (Note 7), a cash deposit advanced in June 2022 (Note 5) and cash at hand. On February 17, 2023, the Partnership acquired from CMTC the shares of the company owning the LNG/C Asterix I, for a total consideration of $230,000 which was funded through debt of $184,000, a cash deposit advanced in June 2022 (Note 5) and cash at hand.

(d) New unit repurchase programme: On January 26, 2023, the Partnership’s Board of Directors authorized a new Repurchase Plan. Pursuant to the Repurchase Plan, the Partnership may purchase up to $30,000 of its common units through January 2025, at times and prices that are considered by us to be appropriate. The Partnership expects to repurchase units under the Repurchase Plan in the open market or in privately negotiated transactions, but are not obligated under the terms of the Repurchase Plan to repurchase any units, and, at any time, may suspend, delay or discontinue the Repurchase Plan.

Significant Accounting Policies (Policies)	12 Months Ended
Significant Accounting Policies (Policies)	Dec. 31, 2022
Accounting Policies [Abstract]
Principles of Consolidation	*(a)* *Principles of Consolidation:* The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and include the accounts of the legal entities comprising the Partnership as discussed in Note 1. Intra-group balances and transactions have been eliminated upon consolidation.
Use of Estimates	*(b) Use of Estimates:* The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognized during the reporting period. Actual results could differ from those estimates.
Accounting for Revenue, Voyage Expenses and Operating Expenses	*(c) Accounting for Revenue, Voyage Expenses and Operating Expenses:* Revenue is generated from time or voyage charter contracts. Time charters contracts A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. A time charter generally provides typical warranties and owner protective restrictions. A time charter begins when the vessel is delivered to the charterer and ends when the vessel is redelivered back to its owner. The time charter contracts are considered operating leases because (i) the vessel is an identifiable asset (ii) the owner of the vessel does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Revenues from time charters are recognized ratably on a straight-line basis over the period of the respective charter. Under time charter agreements, all voyage expenses, except commissions are assumed by the charterer. Operating costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants are paid by the Partnership under time charter agreements. Voyage charters contracts A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load port-to-discharge port basis, subject to various cargo handling terms. The Partnership accounts for a voyage charter when all the following criteria are met: (1) the parties to the contract have approved the contract in the form of a written charter agreement and are committed to perform their respective obligations, (2) the Partnership can identify each party’s rights regarding the services to be transferred, (3) the Partnership can identify the payment terms for the services to be transferred, (4) the charter agreement has commercial substance (that is, the risk, timing, or amount of the Partnership’s future cash flows is expected to change as a result of the contract) and (5) it is probable that the Partnership will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the charterer. The Partnership determined that its voyage charters consist of a single performance obligation which is met evenly as the voyage progresses and begins to be satisfied once the vessel is ready to load the cargo. The voyage charter party agreement generally has a demurrage/dispatch clause according to which in the case of demurrage, the charterer reimburses the vessel owner for any potential delays exceeding the allowed lay time as per the charter party clause at the ports visited which is recorded as demurrage revenue. In the case of dispatch, the owner reimburses the charterer for the earlier discharging of the cargo from the agreed time. Demurrage/despatch revenues are recognized starting from the point that is determined that the amount can be estimated, and its collection/payment is probable and on a straight-line basis until the end of the voyage. Revenues from voyage charters are recognized on a straight-line basis over the voyage duration which commences once the vessel is ready to load the cargo and terminates upon the completion of the discharge of the cargo. Under Accounting Standards Codification (“ASC”) 606, receivables represent an entity’s unconditional right to consideration, whether billed or unbilled. In voyage charters, vessel operating expenses and voyage expenses are paid for by the Partnership. The voyage charters are considered service contracts which fall under the provisions of ASC 606, because the Partnership retains control over the operations of the vessels, such as the routes taken or the vessels’ speed. Payment terms under voyage charters are disclosed in the relevant voyage charter agreements and generally have standard payment terms of 90% to 95% of the freight which is paid within three days after the completion of the vessel’s loading. 2. Significant Accounting Policies – Continued *(c) Accounting for Revenue, Voyage Expenses and Operating Expenses - Continued:* Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and are expensed over the related charter period. All other voyage expenses are expensed as incurred, except for expenses during the ballast portion of the voyage (period between the contract date and the date of the vessel’s arrival to the load port). Any expenses incurred during the ballast portion of the voyage such as bunker expenses, canal tolls and port expenses are deferred and are recognized on a straight-line basis, in voyage expenses, over the voyage duration as the Partnership satisfies the performance obligations under the contract provided these costs are (1) incurred to fulfill a contract that we can specifically identify, (2) able to generate or enhance resources of the company that will be used to satisfy performance of the terms of the contract, and (3) expected to be recovered from the charterer. These costs are considered ‘contract fulfillment costs’ and are included in ‘prepayments and other assets’ in the consolidated balance sheets. Vessel operating expenses presented in the consolidated financial statements mainly consist of crew, repairs and maintenance, insurance, stores, spares, lubricants, other operating expenses and management fees payable to the Partnership’s managers. Vessel operating expenses are expensed as incurred.
Foreign Currency Transactions	*(d) Foreign Currency Transactions:* The functional currency of the Partnership is the U.S. Dollar because the Partnership’s vessels operate in international shipping markets that utilize the U.S. Dollar as the functional currency. The accounting records of the Partnership are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. Dollar, are translated into the functional currency using the exchange rate at those dates. Gains or losses resulting from foreign currency transactions are included in “Other income / (expense)” in the consolidated statements of comprehensive income.
Cash and Cash Equivalents	*(e) Cash and Cash Equivalents:* The Partnership considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.
Restricted cash	*(f) Restricted cash:* For the Partnership to comply with debt covenants under its credit facilities and financing arrangements, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash.
Trade Accounts Receivable, net	*(g) Trade Accounts Receivable, net:* The amount shown as trade accounts receivable, net primarily consists of earned revenue that has not been billed yet or that has been billed but has not yet been collected. At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate write off. For the year ended December 31, 2022, and 2021 the respective write off amounted to $920 and $113, respectively.
Inventories	*(h) Inventories:* Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of disposal and transportation. The cost is determined by the first-in, first-out method.
Vessels Held for Sale	*(i) Vessels Held for Sale:* The Partnership classifies vessels as being held for sale when the following criteria are met: (i) management is committed to sell the asset; (ii) the asset is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; (iv) the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. If a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i) its carrying amount before the vessel was classified as held for sale, adjusted for any depreciation expense that would have been recognized if the vessel had been continuously classified as held and used and (ii) its fair value at the date of the subsequent decision not to sell. 2. Significant Accounting Policies – Continued
Fixed Assets	*(j) Fixed Assets:* Fixed assets consist of vessels, which are stated at cost, less accumulated depreciation. Vessel cost consists of the contract price for the vessel, any material expenses incurred during its construction (improvements and delivery expenses, on-site supervision costs incurred during the construction periods, as well as capitalized interest expense during the construction period). Certain subsequent expenditures for major improvements and regulatory requirements are also capitalized if it is determined that they appreciably extend the life, increase the earning capacity or improve the efficiency or safety of the vessels. Vessels acquired through acquisition of businesses are recorded at their acquisition date fair values. Vessels acquired through asset acquisitions are recorded at cost. The cost of each of the Partnership’s vessels is depreciated, beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel’s remaining economic useful life, after considering the estimated residual value. Management estimates the scrap value of the Partnership’s vessels to be $0.2 per light weight ton (“LWT”) and useful life to be 25 years for the container carrier and bulk carrier vessels and 35 years for the LNG/C vessels.
Impairment of Vessels	*(k) Impairment of Vessels:* An impairment loss on vessels is recognized when indicators of impairment are present and the carrying amount of the vessel is greater than its fair value and is determined not to be recoverable. In determining future benefits derived from use of the vessels, the Partnership performs an analysis of the anticipated undiscounted future net cash flows of the related vessel. If the carrying value of the asset, including any related intangible assets and liabilities, exceeds its undiscounted future net cash flows, the carrying value is reduced to its fair value. Various factors including future charter rates and vessel operating costs are included in this analysis. The Partnership has performed an undiscounted cash flow test as of December 31, 2022, and 2021, determining undiscounted projected net operating cash flows for each vessel for which an indication for impairment was present and compared them to the carrying amount of the vessels, and any related intangible assets and liabilities. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry-docking costs, the estimated remaining useful life of the vessels and their estimated residual value. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership’s historical performance and expectations for the vessels’ utilization under the current deployment strategy. Based on these assumptions, the Partnership determined that the vessels held for use and their related intangible assets and liabilities were not impaired as of December 31, 2022 and 2021.
Deferred charges, net	*(l) Deferred charges, net:* Deferred charges, net are comprised mainly of dry-docking costs. The Partnership’s vessels are required to be dry-docked every thirty to sixty months for major repairs and maintenance that cannot be performed while the vessels are under operation. The Partnership has adopted the deferral method of accounting for dry-docking activities whereby costs incurred are deferred and amortized on a straight-line basis over the period until the next scheduled dry-docking activity.
Intangible assets	*(m) Intangible assets:* The Partnership records all identified tangible and intangible assets, or any liabilities associated with the acquisition of a business or an asset, at fair value. When a vessel or a business that owns a vessel is acquired with an existing charter agreement, the Partnership considers whether any value should be assigned to the attached charter agreement acquired. The value to be assigned to the charter agreement is based on the difference of the contractual charter rate of the agreement acquired and the prevailing market rate for a charter of equivalent duration at the time of the acquisition, determined by independent appraisers as at that date. The resulting above-market (assets) or below-market (liabilities) charters are amortized using the straight-line method as a reduction or increase, respectively, to revenues over the remaining term of the charters (Note 6).
Net Income Per Limited Partner Unit	*(n) Net Income Per Limited Partner Unit:* Basic net income per limited partner unit is calculated by dividing the Partnership’s net income less net income allocable to preferred unit holders, (if any), general partner’s interest in net income (including incentive distribution rights (“IDR”)) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 14). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised.
Segment Reporting	*(o) Segment Reporting:* The Partnership reports financial information and evaluates its operations by charter revenues and not by the length, type of vessel or type of ship employment for its customers, i.e. time or voyage charters. The Partnership does not use discrete financial information to evaluate the operating results for each such type of charter or vessel. Although revenue can be identified for these types of charters or vessels, management cannot and does not identify expenses, profitability or other financial information for these various types of charters or vessels. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus the Partnership has determined that it operates as one reportable segment. Furthermore, when the Partnership charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable. 2. Significant Accounting Policies – Continued
Omnibus Incentive Compensation Plan	*(p) Omnibus Incentive Compensation Plan:* Equity compensation expense represents vested and unvested units granted to employees and to non-employee directors, for their services as directors, as well as to non-employees and are included in general and administrative expenses in the consolidated statements of comprehensive income. These units are measured at their fair value equal to the market value of the Partnership’s common units on the grant date. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period (Note 13).
Treasury Units	*(q) Treasury Units:* The Partnership records the repurchase of its common units at cost based on the settlement dates of repurchase transactions. These units are classified as treasury units, which is a reduction to partners’ capital. Treasury units are included in authorized and issued units but excluded from outstanding units (Note 12).
Fair value of financial instruments	*(r) Fair value of 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; and Level 3: Inputs are unobservable inputs for the asset or liability.
Derivative Instruments	*(s) Derivative Instruments:* The Partnership from time to time may enter into derivative instruments to hedge its exposure to foreign exchange or interest rate risks arising from operational, financing and investment activities. Derivatives are initially measured at fair value; attributable transaction costs are expensed as incurred. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, whether the Partnership has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as foreign currency risk and interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect in a cash flow hedge. When the derivatives do qualify for hedge accounting, depending upon the nature of the hedge, changes in fair value of the derivatives are either offset against the fair value of assets, liabilities or firm commitments through income, or recognized in other comprehensive income (effective portion) until the hedged item is recognized in the consolidated statements of comprehensive income. The Company may enter into derivative contracts that are intended to economically hedge certain of its risk, even though hedge accounting does not apply, or the Company elects not to apply hedge accounting (Note 8). 2. Significant Accounting Policies – Continued
Recent Accounting Pronouncements	*(t) Recent Accounting Pronouncements:* Accounting Standards Update (“ASU”) No. 2022-06—Reference Rate Reform (Topic 848): Deferral of the Sunset Date of Topic 848. In 2020, the Board issued the ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the effects of reference rate reform on financial reporting, which provides optional guidance to ease the potential burden in accounting for (or recognizing the effects of) reference rate reform on financial reporting. The objective of the guidance in Topic 848 is to provide temporary relief during the transition period. The Board included a sunset provision within Topic 848 based on expectations of when the London Interbank Offered Rate (LIBOR) would cease being published. At the time that Update 2020-04 was issued, the UK Financial Conduct Authority (FCA) had established its intent that it would no longer be necessary to persuade, or compel, banks to submit to LIBOR after December 31, 2021. As a result, the sunset provision was set for December 31, 2022, 12 months after the expected cessation date of all currencies and tenors of LIBOR. In March 2021, the FCA announced that the intended cessation date of the overnight 1, 3, 6, and 12-month tenors of USD LIBOR would be June 30, 2023, which is beyond the current sunset date of Topic 848. Because the current relief in Topic 848 may not cover a period of time during which a significant number of modifications may take place, the amendments in this Update defer the sunset date of Topic 848 from December 31, 2022, to December 31, 2024, after which entities will no longer be permitted to apply the relief in Topic 848. The amendments in this Update apply to all entities, subject to meeting certain criteria, that have contracts, hedging relationships, and other transactions that reference LIBOR or another reference rate expected to be discontinued because of reference rate reform. The amendments in this Update are effective for all entities upon issuance of this Update. The Partnership is currently evaluating the impact of this adoption in its consolidated financial statements and related disclosures.

Basis of Presentation and General Information (Tables)

12 Months Ended

Dec. 31, 2022

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Basis of Presentation and General Information - List of Subsidiaries (Table)

Subsidiary	Date of Incorporation	Name of Vessel Owned by Subsidiary	Deadweight (“DWT”)	Date acquired by the Partnership	Date acquired by Capital Maritime & Trading Corp. (“CMTC”) or CGC Operating Corp. (“CGC”)
Capital Product Operating LLC	01/16/2007	—	—	—	—
CPLP Shipping Holdings PLC	08/14/2021	—	—	—	—
CPLP Gas Operating Corp.	08/24/2021	—	—	—	—
Patroklos Marine Corp.	06/17/2008	M/V Cape Agamemnon	179,221	06/09/2011	01/25/2011
Agamemnon Container Carrier Corp.	04/19/2012	M/V Agamemnon ⁽¹⁾	108,892	12/22/2012	06/28/2012
Archimidis Container Carrier Corp.	04/19/2012	M/V Archimidis ⁽¹⁾	108,892	12/22/2012	06/22/2012
Anax Container Carrier S.A.	04/08/2011	M/V Hyundai Prestige	63,010	09/11/2013	02/19/2013
Hercules Container Carrier S.A.	04/08/2011	M/V Hyundai Premium	63,010	03/20/2013	03/11/2013
Iason Container Carrier S.A.	04/08/2011	M/V Hyundai Paramount	63,010	03/27/2013	03/27/2013
Thiseas Container Carrier S.A.	04/08/2011	M/V Hyundai Privilege	63,010	09/11/2013	05/31/2013
Cronus Container Carrier S.A.	07/19/2011	M/V Hyundai Platinum	63,010	09/11/2013	06/14/2013
Dias Container Carrier S.A.	05/16/2013	M/V Akadimos (ex CMA CGM Amazon)	115,534	06/10/2015	06/10/2015
Poseidon Container Carrier S.A.	05/16/2013	M/V Adonis (ex CMA CGM Uruguay) ⁽²⁾	115,639	09/18/2015	09/18/2015
Atrotos Container Carrier S.A.	10/25/2013	M/V CMA CGM Magdalena ⁽²⁾	115,639	02/26/2016	02/26/2016
Deka Container Carrier S.A.	03/28/2017	M/V Athenian	118,834	01/22/2020	04/28/2017
Jupiter Container Carrier S.A.	03/28/2017	M/V Athos	118,888	01/23/2020	05/19/2017
Nikitis Container Carrier S.A.	03/28/2017	M/V Aristomenis	118,712	01/23/2020	06/27/2017
Neos Container Carriers Corp.	09/04/2020	M/V Long Beach Express ⁽³⁾	68,618	02/25/2021	01/07/2021
Maistros Container Carriers Corp.	09/04/2020	M/V Seattle Express ⁽³⁾	68,411	02/25/2021	01/07/2021
Filos Container Carriers Corp.	09/04/2020	M/V Fos Express ⁽³⁾	68,579	02/25/2021	01/07/2021
Panormos Container Carrier S.A.	12/17/2020	M/V Manzanillo Express ⁽⁴⁾	142,411	10/12/2022	10/12/2022
Assos Gas Carrier Corp.	07/16/2018	LNG/C Aristos I⁽³⁾	81,978	09/03/2021	11/12/2020
Dias Gas Carrier Corp.	07/16/2018	LNG/C Aristarchos ⁽³⁾	81,956	09/03/2021	06/15/2021
Atrotos Gas Carrier Corp.	07/16/2018	LNG/C Aristidis I ⁽³⁾	81,898	12/16/2021	01/04/2021
Poseidon Gas Carrier Corp.	07/16/2018	LNG/C Attalos ⁽³⁾	81,850	11/18/2021	08/13/2021
Maximus Gas Carrier Corp.	04/10/2019	LNG/C Asklipios ⁽³⁾	81,882	11/18/2021	09/29/2021
Kronos Gas Carrier Corp.	02/04/2019	LNG/C Adamastos ⁽³⁾	82,095	11/29/2021	08/23/2021

(1)	Vessels were disposed in 2022
(2)	Vessels were disposed in 2021
(3)	Vessels were acquired in 2021
(4)	Vessel was acquired in 2022

Revenues (Tables)

12 Months Ended

Dec. 31, 2022

Revenues

Revenues - Disaggregation of revenue (Table)

		For the years ended December 31,
		2022		2021		2020
Time charters (operating leases)	$	283,962	$	171,134	$	137,893
Voyage charters		15,109		13,531		2,972
Total	$	299,071	$	184,665	$	140,865

Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2022

Transactions with Related Parties - Consolidated Balance Sheets (Table)

Consolidated Balance Sheets	As of		As of
Consolidated Balance Sheets	December 31, 2022		December 31, 2021
Assets:
Capital-Executive – advances from the Partnership (a)	$	3,636	$	—
Due from related party	$	3,636	$	—
Advances for vessels under construction – related party (b)	$	24,000	$	—
Liabilities:
CSM – payments on behalf of the Partnership (c)		705		92
Management fee payable to CSM (d)		25		25
Capital-Executive – payments on behalf of the Partnership (c)		—		1,188
Management fee payable to Capital-Executive (d)		—		417
Capital-Gas – payments on behalf of the Partnership (c)		107		721
Management fee payable to Capital-Gas (d)		179		342
Due to related parties	$	1,016	$	2,785

Transactions with Related Parties - Consolidated Statements of Comprehensive Income (Table)

For the years ended December 31,

Consolidated Statements of Comprehensive Income 2022 2021 2020

Vessel operating expenses $ 9,172 $ 5,923 $ 4,976

General and administrative expenses (e) 2,244 2,013 2,049

Vessels, net and advances for vessels under construction (Tables)

12 Months Ended

Dec. 31, 2022

Vessels Net And Advances For Vessels Under Construction

Vessels, net and advances for vessels under construction (Table)

	Vessel cost		Accumulated depreciation		Net book value
Balance as at January 1, 2021	$	923,020	$	(210,823)	$	712,197
Vessel acquisitions		1,256,858		—		1,256,858
Vessel disposals		(180,358)		36,123		(144,235)
Improvements		374		—		374
Depreciation for the year		—		(43,336)		(43,336)
Balance as at December 31, 2021	$	1,999,894	$	(218,036)	$	1,781,858
Vessel acquisitions		121,583		—		121,583
Advances for vessels under construction – related party (Note 4)		24,000		—		24,000
Vessel disposals		(143,692)		63,159		(80,533)
Improvements		1,873		—		1,873
Depreciation for the year		—		(66,884)		(66,884)
Balance as at December 31, 2022	$	2,003,658	$	(221,761)	$	1,781,897

Vessels, net and advances for vessels under construction - Disposals (Table)

Vessel		M/V Agamemnon		M/V Archimidis		Total
Sale price	$	65,000	$	65,000	$	130,000
Carrying value on sale		(41,806)		(38,727)		(80,533)
Other sale expenses		(1,099)		(1,093)		(2,192)
Gain on sale	$	22,095	$	25,180	$	47,275

Vessels, net and advances for vessels under construction - Disposals (Table)

Vessel		M/V CMA CGM Magdalena		M/V Adonis		Total
Sale price	$	99,000	$	96,000	$	195,000
Carrying value on sale		(71,598)		(72,637)		(144,235)
Other sale expenses		(2,018)		(1,935)		(3,953)
Gain on sale	$	25,384	$	21,428	$	46,812

Above / Below market acquired charters (Tables)

12 Months Ended

Dec. 31, 2022

Above Below Market Acquired Charters

Above / Below market acquired time charters (Table)

		Above market acquired charters		Below market acquired charters
Carrying amount as at January 1, 2021	$	34,579	$	—
Additions		23,975		(17,305)
(Amortization) / accretion		(9,949)		2,662
Carrying amount as at December 31, 2021	$	48,605	$	(14,643)
(Amortization) / accretion		(16,285)		4,275
Carrying amount as at December 31, 2022	$	32,320	$	(10,368)

Above / Below market acquired time charters - Amortization Schedule (Table)

For the year ending December 31,		Above market acquired charters		Below market acquired charters
2023	$	15,407	$	(4,275)
2024		11,301		(4,287)
2025		3,935		(1,806)
2026		1,677		—
Total	$	32,320	$	(10,368)

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2022

Debt Disclosure [Abstract]

Long-Term Debt - Bank Loans (Table)

			As of December 31, 2022		As of December 31, 2021	Rate of interest
	*Credit facilities*
(i)	Issued in September 2017 fully repaid in August 2022 (the “2017 credit facility”)	$	—	$	106,047	Margin + Libor
(ii)	Issued in January 2020 fully repaid in August 2022 (the “2020 credit facility”)		—		32,480	Margin + Libor
(iii)	Issued in January 2021 maturing in February 2026 (the “CMTC Seller’s Credit”)		6,000		6,000	Fixed rate
(iv)	Issued in August 2021 fully repaid in July 2022 (the “CGC Seller’s Credit”)		—		5,000	Fixed rate
(v)	Issued in August 2021 fully repaid in July 2022 (the “CGC Seller’s Credit”)		—		5,000	Fixed rate
(vi)	Assumed in December 2021 maturing in December 2027 (the “2021 credit facility”)		110,827		120,566	Margin + Libor
(vii)	Issued in October 2022 maturing in October 2028 (the “2022 credit facility”)		105,000		—	Margin + Secured Overnight Financing Rate (“SOFR”)
	*Sale and lease back agreements*
(viii)	Issued in January 2020 maturing in January 2025 (the “2020 CMBFL”)		29,700		32,900	Margin + Libor
(ix)	Issued in January 2020 maturing in January 2025 (the “2020 CMBFL”)		29,700		32,900	Margin + Libor
(x)	Issued in May 2020 maturing in May 2027 (the “ICBCFL”)		41,996		45,660	Margin + Libor
(xi)	Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”)		8,083		9,184	Margin + Libor
(xii)	Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”)		8,083		9,184	Margin + Libor
(xiii)	Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”)		8,083		9,184	Margin + Libor
(xiv)	Assumed in September 2021 maturing in October 2027 (the “2021 Bocomm”)		138,888		144,744	Margin + Libor
(xv)	Assumed in September 2021 maturing in May 2028 (the “2021 Bocomm”)		132,217		151,299	Margin + Libor
(xvi)	Assumed in November 2021 maturing in August 2028 (the “2021 CMBFL - LNG/C”)		139,183		146,315	Margin + Libor
(xvii)	Assumed in November 2021 maturing in September 2028 (the “2021 CMBFL - LNG/C”)		138,072		147,493	Margin + Libor
(xviii)	Assumed in November 2021 maturing in July 2036 (the “2021 Shin Doun”)		136,778		142,609	Fixed rate
	*Unsecured Bonds*
(xix)	Issued in October 2021 maturing in October 2026 (the “2021 Bonds”)		159,966		170,862	Fixed rate
(xx)	Issued in July 2022 maturing in July 2029 (the “2022 Bonds”)		106,644		—	Fixed rate
	Total long-term debt		1,299,220		1,317,427
	Less: Deferred loan and financing arrangements issuance costs		10,142		8,453
	Total long-term debt, net		1,289,078		1,308,974
	Less: Current portion of long-term debt		75,438		100,144
	Add: Current portion of deferred loan and financing arrangements issuance costs		2,225		2,265
	Long-term debt, net	$	1,215,865	$	1,211,095

Long-Term Debt - Required Annual Loan Payments (Table)

For the year ending December 31,		Amount
2023	$	75,437
2024		68,097
2025		107,161
2026		237,826
2027		238,752
Thereafter		571,947
Total	$	1,299,220

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2022

Derivative Instruments and Hedging Activities Disclosure [Abstract]

Financial Instruments - Schedule of Derivative Liabilities at Fair value (Table)

Effective Date	Termination Date	Notional Amount in thousands EURO	Notional Amount in United States Dollars	Fixed Rate the Partnership receives in EURO	Fixed Rate the Partnership pays in United States Dollars		Fair Value December 31, 2022 in United States Dollars
21/10/2021	21/10/2025	120,000	139,716	2.65%	3.655%	$	10,068
21/10/2021	21/10/2025	30,000	34,929	2.65%	3.690%		2,641
26/07/2022	26/07/2029	100,000	101,800	4.40%	6.550%		816
					Total Fair Value	$	13,525

Financial Instruments - Summary of Gain (Loss) on Change in Fair Value of Derivatives (Table)

Derivative designated as accounting hedge
	Amount of gain / (loss) recognized in other comprehensive loss
		2022		2021		2020
Cross-currency swap agreement related to the 2022 Bonds	$	(1,757)	$	—	$	—
Reclassification to other income / (expense), net		(3,009)		—		—
Total recognized in other comprehensive loss	$	(4,766)	$	—	$	—

Derivatives not designated as accounting hedges

Amount of gain / (loss) recognized in other income / (expense), net

2022 2021 2020

Change in fair value of derivatives related to the 2021 Bonds $ (9,542) $ (3,167) $ —

Realized interest income / (expense), net of derivatives related to the 2021 Bonds (2,258) (374) —

Total recognized in other income / (expense), net $ (11,800) $ (3,541) $ —

Financial Instruments - Fair value measurements on a recurring basis (Table)

Recurring Measurements 2022: December 31, 2022 Quoted prices in active markets for identical assets (Level 1) Significant other Observable inputs (Level 2) Unobservable Inputs (Level 3)

Cross Currency SWAP (120,000) $ 10,068 $ — $ 10,068 $ —

Cross Currency SWAP (30,000) 2,641 — 2,641 —

Cross Currency SWAP (100,000) 816 — 816 —

Total $ 13,525 $ — $ 13,525 $ —

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2022

Payables and Accruals [Abstract]

Accrued liabilities (Table)


	As of December 31,
		2022		2021
Accrued loan interest and loan fees	$	8,139	$	3,355
Accrued operating expenses		4,746		4,076
Accrued capitalized expenses		1,246		371
Accrued voyage expenses and commissions		2,003		2,472
Accrued general and administrative expenses		1,342		1,121
Total	$	17,476	$	11,395

Voyage Expenses and Vessel Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2022

Voyage Expenses And Vessel Operating Expenses

Voyage expenses and vessel operating expenses (Table)


	For the years ended December 31,
		2022		2021		2020
Voyage expenses:
Commissions	$	6,134	$	4,278	$	2,809
Bunkers		7,365		4,204		1,349
Port expenses		1,819		1,633		624
Other		918		583		1,519
Total	$	16,236	$	10,698	$	6,301
Vessel operating expenses:
Crew costs and related costs	$	34,385	$	22,575	$	16,624
Insurance expense		5,261		4,029		2,388
Spares, repairs, maintenance and other expenses		8,103		6,784		8,836
Stores and lubricants		7,512		5,288		4,593
Management fees (Note 4)		9,610		6,295		4,976
Other operating expenses		2,589		2,151		1,304
Total	$	67,460	$	47,122	$	38,721

Partners’ Capital (Tables)

12 Months Ended

Dec. 31, 2022

Equity [Abstract]

Partners’ Capital - Schedule of Incentive Distributions (Table)

		Marginal Percentage Interest in Distributions
	Total Quarterly Distribution Target Amount per Unit	Unitholders	General Partner
Minimum Quarterly Distribution	$1.6275	98%	2%
First Target Distribution	up to $1.6975	98%	2%
Second Target Distribution	above $1.6975 up to $1.8725	85%	15%
Third Target Distribution	above $1.8725 up to $2.0475	75%	25%
Thereafter	above $2.0475	65%	35%

Partners’ Capital - Partnership units (Table)

	As of December 31, 2022	As of December 31, 2021
Common units	20,255,707	19,394,696
General partner units	348,570	348,570
Treasury Units	566,239	382,250
Total partnership units	21,170,516	20,125,516

Omnibus Incentive Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2022

Share-Based Payment Arrangement [Abstract]

Omnibus Incentive Compensation Plan (Table)

	Equity compensation plan
Unvested Units	Units		Amount
Unvested on January 1, 2021	412,916		4,637
Vested	(412,916)		(4,637)
Unvested on December 31, 2021	—	$	—
Granted	745,769		11,318
Vested	(249,902)		(3,790)
Unvested on December 31, 2022	495,867	$	7,528

Net Income Per Unit (Tables)

12 Months Ended

Dec. 31, 2022

Earnings Per Share [Abstract]

Net Income Per Unit - Basic and Diluted (Table)

BASIC AND DILUTED		2022		2021		2020
Numerators
Partnership’s net income	$	125,421	$	98,178	$	30,367
Less:
General Partner’s interest in Partnership’s net income		2,157		1,790		558
Partnership’s net income allocable to unvested units		3,662		2,053		685
Common unit holders’ interest in Partnership’s net income	$	119,602	$	94,335	$	29,124
Denominators
Weighted average number of common units outstanding, basic and diluted		19,325,030		18,342,413		18,194,186
Net income per common unit:
Basic and Diluted	$	6.19	$	5.14	$	1.60

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2022

Commitments and Contingencies Disclosure [Abstract]

Commitments and Contingencies - Future minimum charter hire receipts

Year ending December 31,		Amount
2023		267,528
2024		232,017
2025		165,569
2026		98,334
2027		95,404
Thereafter		275,852
Total		1,134,704

Basis of Presentation and General Information - List of Subsidiaries (Table) (Details)

12 Months Ended

Dec. 31, 2022

Basis of Presentation and General Information (Details Narrative)	7 Months Ended		10 Months Ended	12 Months Ended
	Jul. 22, 2022 EUR (€)	Aug. 14, 2021	Oct. 20, 2021 EUR (€)	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Formation Date				Jan. 16, 2007
Number of vessels				20	21
CPLP Shipping Holding PLC [Member]
Property, Plant and Equipment [Line Items]
Date of incorporation		Aug. 14, 2021
Ownership percentage of Partnership		100.00%
CPLP Shipping Holding PLC [Member] \| Unsecured 2022 Bonds [Member]
Property, Plant and Equipment [Line Items]
Debt Instrument, Face Amount	€ 100,000,000
Name of Stock Exchange	Athens Stock Exchange
Maturity date	July 2029
Frequency of payment	semi-annually
Fixed interest rate of coupon bond	4.40%
CPLP Shipping Holding PLC [Member] \| Unsecured 2021 Bonds [Member]
Property, Plant and Equipment [Line Items]
Debt Instrument, Face Amount			€ 150,000,000
Name of Stock Exchange			Athens Stock Exchange
Maturity date			October 2026
Frequency of payment			semi-annually
Fixed interest rate of coupon bond			2.65%
Neo Panamax Container Carrier Vessels [Member]
Property, Plant and Equipment [Line Items]
Number of vessels				10
Panamax Container Carrier Vessels [Member]
Property, Plant and Equipment [Line Items]
Number of vessels				3
Capesize Bulk Carrier [Member]
Property, Plant and Equipment [Line Items]
Number of vessels				1
X-DF Liquefied Natural Gas Carriers [Member]
Property, Plant and Equipment [Line Items]
Number of vessels				6

Significant Accounting Policies (Details Narrative)	12 Months Ended
Significant Accounting Policies (Details Narrative)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Property, Plant and Equipment [Line Items]
Maximum original maturity of highly liquid investments, in order to be classified as cash and cash equivalents (in months)	3
Write off of doubtful accounts	$ 920	$ 113
Depreciation method	straight-line
Scrap value per light weight ton (LWT)	0.2
Number of reportable segments	1
Minimum [Member]
Property, Plant and Equipment [Line Items]
Interval between vessel drydocking	30
Maximum [Member]
Property, Plant and Equipment [Line Items]
Interval between vessel drydocking	60
Container Carrier and Bulk Carrier Vessels [Member]
Property, Plant and Equipment [Line Items]
Vessels useful life	25 years
LNG/C vessels [Member]
Property, Plant and Equipment [Line Items]
Vessels useful life	35 years

Revenues (Details Narrative) $ in Thousands	12 Months Ended
Revenues (Details Narrative) $ in Thousands	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Number of vessels	20	21
Unearned revenue	$ 18,553	$ 8,919
Prepaid Expenses and Other Current Assets [Member]
Prepaid Expense and Other Assets, Current	0	168
Performance Obligations [Member]
Unearned revenue	$ 0	$ 3,010
Nineteen out of Twenty Vessels Under Time Charter Agreements [Member]
Number of vessels	19
Nineteen out of Twenty Vessels Under Time Charter Agreements [Member] \| Minimum [Member]
Time Charter (TC) in years	0.2
Nineteen out of Twenty Vessels Under Time Charter Agreements [Member] \| Maximum [Member]
Time Charter (TC) in years	9.5
Vessel Under Voyage Charter [Member]
Number of vessels	1	1
Thirteen Time Charter Agreements With Extensions In Charterers Option [Member] \| Minimum [Member]
Time Charter (TC) in years	2.3
Thirteen Time Charter Agreements With Extensions In Charterers Option [Member] \| Maximum [Member]
Time Charter (TC) in years	9.2
Twenty Vessels Under Time Charter Agreements [Member]
Number of vessels		20
Twenty Vessels Under Time Charter Agreements [Member] \| Minimum [Member]
Time Charter (TC) in years		0.4
Twenty Vessels Under Time Charter Agreements [Member] \| Maximum [Member]
Time Charter (TC) in years		4.7

Transactions with Related Parties - Consolidated Balance Sheets (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Assets:
Due from related party	$ 3,636	$ 0
Advances for vessels under construction – related party (b)	24,000	0
Liabilities:
Due to related parties	1,016	2,785
Capital-Executive – Advances for operating and voyage expenses (a) [Member]
Assets:
Due from related party	3,636	0
CSM - payments on behalf of the Partnership (c) [Member]
Liabilities:
Due to related parties	705	92
Management fee payable to CSM (d)
Liabilities:
Due to related parties	25	25
Capital-Executive - payments on behalf of the Partnership (c) [Member]
Liabilities:
Due to related parties	0	1,188
Management fee payable to Capital-Executive (d) [Member]
Liabilities:
Due to related parties	0	417
Capital-Gas - payments on behalf of the Partnership (c) [Member]
Liabilities:
Due to related parties	107	721
Management fee payable to Capital-Gas (d) [Member]
Liabilities:
Due to related parties	$ 179	$ 342

Transactions with Related Parties (Details Narrative) $ in Thousands	6 Months Ended	12 Months Ended
	Jul. 08, 2022 USD ($)	Dec. 31, 2022 USD ($) shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)	Jun. 06, 2022	Mar. 30, 2022 shares	Sep. 03, 2021 shares
Related Party Transaction [Line Items]
Seller's credit agreement		$ 0	$ 16,000	$ 0
Financing arrangements and credit facility assumed in connection with the acquisition of companies owning vessels		$ 0	$ 866,344	0
Common units issued \| shares		20,821,946	19,776,946
Vessel operating expenses		$ 9,172	$ 5,923	4,976
General and administrative expenses		10,681	8,662	7,195
Floating fee management agreements [Member]
Related Party Transaction [Line Items]
Vessel operating expenses		$ 9,172	5,923	4,976
LNG/C Aristos and LNG/C Aristarchos [Member] \| CGC Seller's Credit [Member]
Related Party Transaction [Line Items]
Repayment amount	$ 10,000
Seller's credit agreement			10,000
Financing arrangements and credit facility assumed in connection with the acquisition of companies owning vessels			304,355
Common units issued \| shares							1,153,846
One of Three Eco Container Carriers [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Description of Transaction		In October 2022, the Partnership acquired from CMTC the shares of the company owning one of the three 13,312 TEU container carrier vessels, which entered into a floating fee management agreement with Capital-Executive Ship Management Corp.
LNG/C Attalos, LNG/C Asklipios, LNG/C Adamastos and LNG/C Aristidis I [Member]
Related Party Transaction [Line Items]
Financing arrangements and credit facility assumed in connection with the acquisition of companies owning vessels			561,989
Common Partnership units transferred from CGC to Capital Gas Corp. [Member]
Related Party Transaction [Line Items]
Common Partnership units transferred \| shares						1,153,846
Master Agreement [Member] \| One X-DF LNG/C Vessel (“174.000 CBM”) and Three Eco Container Carriers Vessels (“13.312 TEU”) [Member]
Related Party Transaction [Line Items]
Vessel capacity in CBM					174,000
Container capacity in TEU					13,312
CMTC Seller’s Credit [Member] \| For each vessel - M/V Long Beach Express, M/V Seattle Express and M/V Fos Express [Member]
Related Party Transaction [Line Items]
Seller's credit agreement			6,000
Administrative And Service Agreements [Member]
Related Party Transaction [Line Items]
General and administrative expenses		$ 2,050	$ 1,880	$ 1,880
CMTC Seller’s Credit [Member]
Related Party Transaction [Line Items]
The percentage of ownership of common units		23.10%	20.00%
Capital Gas Corp. [Member]
Related Party Transaction [Line Items]
The percentage of ownership of common units		5.70%
CGC [Member]
Related Party Transaction [Line Items]
The percentage of ownership of common units			5.90%

Vessels, net and advances for vessels under construction (Details Narrative) $ in Thousands	5 Months Ended	6 Months Ended	9 Months Ended	12 Months Ended
	Jun. 06, 2022 USD ($)	Jun. 21, 2022 USD ($)	Oct. 12, 2022 USD ($) shares	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Property, Plant and Equipment [Line Items]
Vessels Net				$ 1,757,897	$ 1,781,858
Advance payment				(24,000)	0	$ 0
Long-Term Debt, Gross				$ 1,299,220	$ 1,317,427
Number of vessels				20	21
Vessels additions					$ 1,256,858
Net reduction of acquired time charters					6,670
Acquisition cost					1,263,528
Advance payment				$ 7,534	4,835
Sale price agreed in Memorandum of Agreement				130,000	195,000
Impairment charge				$ 0	$ 0
Vessels under credit facilities provided as collateral [Member]
Property, Plant and Equipment [Line Items]
Number of vessels as collateral				2
Vessels Net				$ 316,910
Vessels under sale and lease back agreements [Member]
Property, Plant and Equipment [Line Items]
Vessels Net				$ 1,173,226
Number of vessels under of sales and lease back aggreements				11
Unencumbered vessels [Member]
Property, Plant and Equipment [Line Items]
Vessels Net				$ 267,761
Number of unencumbered vessels				7
LNG/C Asterix I [Member] \| Master Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM				174,000
Advance payment				$ 12,000
Delivery Date				February 2023
M/V Itajai Express [Member] \| Master Agreement [Member]
Property, Plant and Equipment [Line Items]
Container capacity in TEU				13,312
Advance payment				$ 6,000
Delivery Date				January 2023
M/V Manzanillo Express [Member] \| Master Agreement [Member]
Property, Plant and Equipment [Line Items]
Container capacity in TEU			13,312
Total consideration			$ 121,583
Advance payment			6,000
Long-Term Debt, Gross			$ 105,000
Common units transferred \| shares			505,204
Buenaventura Express [Member] \| Master Agreement [Member]
Property, Plant and Equipment [Line Items]
Container capacity in TEU				13,312
Total consideration				$ 122,500
Advance payment				$ 6,000
Delivery Date				June 2023
One X-DF LNG/C Vessel (“174.000 CBM”) and Three Eco Container Carriers Vessels (“13.312 TEU”) [Member] \| Master Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM	174,000
Container capacity in TEU	13,312
Total consideration	$ 596,583
Advance payment		$ 30,000
LNG/C Adamastos [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM					174,000
Total consideration					$ 220,000
Year built					2021
Delivery Date					Nov. 29, 2021
LNG/C Attalos [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM					174,000
Total consideration					$ 207,000
Year built					2021
Delivery Date					Nov. 18, 2021
LNG/C Asklipios [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM					174,000
Total consideration					$ 196,000
Year built					2021
Delivery Date					Nov. 18, 2021
LNG/Cs Aristarchos [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM					174,000
Total consideration					$ 191,639
Year built					2021
Delivery Date					Sep. 03, 2021
LNG/C Aristos I [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM					174,000
Total consideration					$ 203,139
Year built					2020
Delivery Date					Sep. 03, 2021
LNG/C Aristidis I [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Vessel capacity in CBM					174,000
Total consideration					$ 205,000
Year built					2021
Delivery Date					Dec. 16, 2021
M/V Long Beach Express,M/V Seattle Express and M/V Fos Express [Member] \| Share Purchase Agreement [Member]
Property, Plant and Equipment [Line Items]
Container capacity in TEU					5,089
Total consideration					$ 40,500
Year built					2008
Delivery Date					Feb. 25, 2021
Number of vessels					3
Acquisition expenses					$ 250
Vessels' Improvements [Member]
Property, Plant and Equipment [Line Items]
Vessel improvement costs capitalized				$ 1,873	374
Ballast Water Treatment Systems [Member]
Property, Plant and Equipment [Line Items]
Vessel improvement costs capitalized				1,524	0
Exhaust Gas Cleaning systems and Ballast Water Treatment systems [Member]
Property, Plant and Equipment [Line Items]
Advance payment				$ 1,498	$ 336
M/V Archimidis [Member]
Property, Plant and Equipment [Line Items]
Date of Memorandum Agreement				May 30, 2022
Sale price agreed in Memorandum of Agreement				$ 65,000
Disposal Date				Jul. 06, 2022
M/V Agamemnon [Member]
Property, Plant and Equipment [Line Items]
Date of Memorandum Agreement				May 30, 2022
Sale price agreed in Memorandum of Agreement				$ 65,000
Disposal Date				Jul. 28, 2022
M/V Adonis [Member]
Property, Plant and Equipment [Line Items]
Date of Memorandum Agreement					Apr. 07, 2021
Sale price agreed in Memorandum of Agreement					$ 96,000
Disposal Date					Dec. 13, 2021
M/V CMA CGM Magdalena [Member]
Property, Plant and Equipment [Line Items]
Date of Memorandum Agreement					Apr. 07, 2021
Sale price agreed in Memorandum of Agreement					$ 99,000
Disposal Date					May 17, 2021

Above / Below market acquired time charters (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Beginning at carrying amount	$ 48,605
Beginning at carrying amount	(14,643)
(Amortization) / accretion	(16,285)	$ (9,949)
(Amortization) / accretion	4,275	2,662
Ending at carrying amount	32,320	48,605
Ending at carrying amount	(10,368)	(14,643)
Above Market Acquired Charters [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Beginning at carrying amount	48,605	34,579
Additions		23,975
(Amortization) / accretion	(16,285)	(9,949)
Ending at carrying amount	32,320	48,605
Below Market Acquired Charters [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Beginning at carrying amount	(14,643)	0
Additions		(17,305)
(Amortization) / accretion	4,275	2,662
Ending at carrying amount	$ (10,368)	$ (14,643)

Above / Below market acquired time charters - Amortization Schedule (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ 32,320	$ 48,605
Total	(10,368)	(14,643)
Above Market Acquired Charters [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2023	15,407
2024	11,301
2025	3,935
2026	1,677
Total	32,320	48,605	$ 34,579
Below Market Acquired Charters [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
2023	(4,275)
2024	(4,287)
2025	(1,806)
2026	0
Total	$ (10,368)	$ (14,643)	$ 0

Long-Term Debt - Required Annual Loan Payments (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Debt Disclosure [Abstract]
2023	$ 75,437
2024	68,097
2025	107,161
2026	237,826
2027	238,752
Thereafter	571,947
Total	$ 1,299,220	$ 1,317,427

Long-Term Debt (Details Narrative) $ in Thousands		1 Months Ended		5 Months Ended	6 Months Ended		7 Months Ended			8 Months Ended		9 Months Ended	11 Months Ended		12 Months Ended
Long-Term Debt (Details Narrative) $ in Thousands	Jan. 06, 2023 USD ($)	Jan. 27, 2021 USD ($)	Jan. 22, 2021 USD ($)	May 27, 2020 USD ($)	Jul. 08, 2022 USD ($)	Jul. 06, 2022 USD ($)	Aug. 10, 2022 USD ($)	Aug. 05, 2022 USD ($)	Jul. 28, 2022 USD ($)	Sep. 03, 2021 USD ($)	Aug. 31, 2021 USD ($)	Oct. 11, 2022 USD ($)	Nov. 29, 2021 USD ($)	Nov. 18, 2021 USD ($)	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 16, 2021 USD ($)	Dec. 31, 2020 USD ($)	Dec. 31, 2022 EUR (€)	Dec. 31, 2021 EUR (€)
Debt Instrument [Line Items]
Repayments of Debt															$ 218,954	$ 145,471		$ 153,573
Seller's credit agreement															0	16,000		0
Long-Term Debt, Gross															$ 1,299,220	1,317,427
Debt Instrument, Covenant Compliance															As of December 31, 2022, and 2021 the Partnership was in compliance with all financial covenants
Interest expense															$ 52,465	$ 16,586		$ 13,761
Weighted average interest rate															4.10%	2.90%		3.60%
Covenants [Member]
Debt Instrument [Line Items]
Ratio Of EBITDA To Net Interest Expense															2:1
Net Total Indebtedness to the aggregate Market Value of the Total fleet															0.75:1
LNG/Aristidis I \|2021 Credit Facility [Member]
Debt Instrument [Line Items]
Debt Instrument, Term																	6 years
Long-Term Debt, Gross																	$ 123,001
CPLP Shipping Holding PLC [Member] \| 2022 Bonds [Member]
Debt Instrument [Line Items]
Debt Instrument, Term															7 years
Issuance date of Bond															Jul. 22, 2022
Name of Stock Exchange															Athens Stock Exchange
Debt Instrument, Face Amount															$ 106,664				€ 100,000,000
Fixed interest rate of coupon bond															4.40%
Debt Instrument, Frequency of Periodic Payment															semi-annually
Settlement occurred date															Jul. 26, 2022
Ratio Of EBITDA To Net Interest Expense															2:1
Net Total Indebtedness to the aggregate Market Value of the Total fleet															0.75:1
CPLP Shipping Holding PLC [Member] \| 2022 Bonds [Member] \| Bonds requirements and terms [Member]
Debt Instrument [Line Items]
Cash Collateral for Borrowed Securities \| €																			100,000
Description of deposit to the DSRA account															the Partnership deposit to the DSRA 50% of any cash disbursements to unitholders (e.g., dividends) exceeding $20,000 per annum, capped at 1/3 of the par value of the 2022 Bonds outstanding at the time
Description of the difference detween MVAN and $300,000															if the Partnership’s Market Value Adjusted Net Assets (“MVAN”) falls below $300,000 then to deposit to the DSRA the difference between the MVAN and the $300,000 (capped to 1/3 of the par value of the 2022 Bonds outstanding)
CPLP Shipping Holding PLC [Member] \| 2021 Bonds [Member]
Debt Instrument [Line Items]
Debt Instrument, Term															5 years
Issuance date of Bond															Oct. 20, 2021
Name of Stock Exchange															Athens Stock Exchange
Debt Instrument, Face Amount															$ 170,862				€ 150,000,000
Fixed interest rate of coupon bond															2.65%
Debt Instrument, Frequency of Periodic Payment															semi-annually
Settlement occurred date															Oct. 22, 2021
Ratio Of EBITDA To Net Interest Expense															2:1
Net Total Indebtedness to the aggregate Market Value of the Total fleet															0.75:1
CPLP Shipping Holding PLC [Member] \| 2021 Bonds [Member] \| Bonds requirements and terms [Member]
Debt Instrument [Line Items]
Cash Collateral for Borrowed Securities \| €																				€ 100,000
Description of deposit to the DSRA account																the Partnership deposit to the DSRA 50% of any cash disbursements to unitholders (e.g., dividends) exceeding $20,000 per annum, capped at 1/3 of the par value of the 2021 Bonds outstanding at the time
Description of the difference detween MVAN and $300,000																if the Partnership’s MVAN falls below $300,000 then to deposit to the DSRA the difference between the MVAN and the $300,000 (capped to 1/3 of the par value of the 2021 Bonds outstanding)
2017 Credit Facility [Member]
Debt Instrument [Line Items]
Full repayment amount of debt							$ 65,822
Partial repayment amount of debt						$ 13,789			$ 14,228
2020 Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of Debt								$ 29,900
LNG/C Adamastos I 2021 Shin Doun [Member]
Debt Instrument [Line Items]
Debt Instrument, Term													14 years 8 months 12 days
Sale and leaseback transaction assumed balance - Financial arrangement													$ 143,103
LNG/C Attalos I 2021 CMBFL-LNG/C [Member]
Debt Instrument [Line Items]
Debt Instrument, Term														6 years 8 months 12 days
Sale and leaseback transaction assumed balance - Financial arrangement														$ 146,315
LNG/C Asklipios \| 2021 CMBFL-LNG/C [Member]
Debt Instrument [Line Items]
Debt Instrument, Term														6 years 10 months 24 days
Sale and leaseback transaction assumed balance - Financial arrangement														$ 149,570
LNG/C Aristos I \| 2021 Bocomm [Member]
Debt Instrument [Line Items]
Debt Instrument, Term										6 years 1 month 6 days
Sale and leaseback transaction assumed balance - Financial arrangement										$ 148,920
LNG/C Aristarchos \| 2021 Bocomm [Member]
Debt Instrument [Line Items]
Debt Instrument, Term										6 years 8 months 12 days
Sale and leaseback transaction assumed balance - Financial arrangement										$ 155,435
CMTC Seller’s Credit [Member] \| Maximum [Member]
Debt Instrument [Line Items]
Debt Instrument, Term		5 years
Refinancing of M/V Akadimos, the M/V Adonis and the M/V CMA CGM Magdalena with ICBCFL [Member]
Debt Instrument [Line Items]
Debt Instrument, Term				7 years
Repayments of Debt				$ 116,515
Sale and leaseback transaction gross cash inflow financing arrangement				$ 155,350
M/V CMA CGM Magdalena and M/V Adonis [Member] \| 'ICBCFL' Financing Arrangement [Member]
Debt Instrument [Line Items]
Prepayment of Debt																$ 96,205
2017 Credit Facility, 2020 Credit Facility and CGC Seller's Credit [Member]
Debt Instrument [Line Items]
Prepayment of Debt															$ 133,739
Credit facilities and financing arrangements [Member]
Debt Instrument [Line Items]
Repayments of Debt															$ 85,215	49,266
2022 Credit Facility and 'ICBCFL' Financing Arrangement [Member] \| Covenants [Member]
Debt Instrument [Line Items]
Collateral Maintenance Requirement															125.00%
2020 CMBFL, 2021 CMBFL-Panamax and 2021 credit facility [Member] \| Covenants [Member]
Debt Instrument [Line Items]
Collateral Maintenance Requirement															120.00%
'CMBFL-LNG/C' Financing Arrangement [Member] \| Covenants [Member]
Debt Instrument [Line Items]
Collateral Maintenance Requirement															110.00%
'Bocomm' Financing Arrangement [Member] \| Covenants [Member]
Debt Instrument [Line Items]
Collateral Maintenance Requirement															111.00%
M/V Itajai Express [Member] \| 2022 Sale and Lease Back Agreement [Member]
Debt Instrument [Line Items]
Sale Leaseback Transaction, Date															December 23, 2022
Maximum borrowing capacity															$ 108,000
Amount drawn down	$ 108,000
Debt Instrument, Term															8 years
Debt Instrument, Unused Borrowing Capacity, Amount															$ 108,000
M/V Manzanillo Express [Member] \| 2022 Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity															$ 105,000
Debt Instrument, Term															6 years
Issuance date of Bond															Oct. 06, 2022
Amount drawn down												$ 105,000
LNG/C Aristos and LNG/C Aristarchos [Member] \| CGC Seller's Credit [Member]
Debt Instrument [Line Items]
Repayment amount					$ 10,000
Seller's credit agreement																10,000
LNG/C Aristarchos [Member] \| CGC Seller's Credit [Member]
Debt Instrument [Line Items]
Seller's credit agreement											$ 5,000
Interest payable																0
Debt Instrument, Maturity Date, Description											payable within one year from the vessel’s delivery date
LNG/C Aristos I [Member] \| CGC Seller's Credit [Member]
Debt Instrument [Line Items]
Seller's credit agreement											$ 5,000
Interest payable																$ 0
Debt Instrument, Maturity Date, Description											payable within one year from the vessel’s delivery date
For each vessel - M/V Long Beach Express, M/V Seattle Express and M/V Fos Express [Member] \| CMTC Seller’s Credit [Member]
Debt Instrument [Line Items]
Seller's credit agreement		$ 6,000
For each vessel - M/V Long Beach Express, M/V Seattle Express and M/V Fos Express [Member] \| CMBFL Sale And Leaseback Transaction [Member]
Debt Instrument [Line Items]
Sale Leaseback Transaction, Date			January 22, 2021
Debt Instrument, Term			5 years
Sale and leaseback transaction gross cash inflow financing arrangement			$ 10,010
Per Vessel [Member] \| Covenants [Member]
Debt Instrument [Line Items]
Restricted Cash and Cash Equivalents															$ 500

Financial Instruments - Fair value measurements on a recurring basis (Table) (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Cross Currency SWAP	$ 13,525
Fair Value, Inputs, Level 2 [Member]
Cross Currency SWAP	13,525
Currency Swap (120,000) [Member]
Cross Currency SWAP	10,068
Currency Swap (120,000) [Member] \| Fair Value, Inputs, Level 2 [Member]
Cross Currency SWAP	10,068
Currency Swap (30,000) [Member]
Cross Currency SWAP	2,641
Currency Swap (30,000) [Member] \| Fair Value, Inputs, Level 2 [Member]
Cross Currency SWAP	2,641
Currency Swap (100,000) [Member]
Cross Currency SWAP	816
Currency Swap (100,000) [Member] \| Fair Value, Inputs, Level 2 [Member]
Cross Currency SWAP	$ 816

Financial Instruments (Details Narrative) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2022	Dec. 31, 2021
Long-Term Debt, Carrying Amount	$ 1,299,220	$ 1,317,427
Estimated period expected to be reclassified	12 months
Foreign currency cash flow fedge loss to be reclassified during next 12 months	$ 1,987
Fair Value, Inputs, Level 2 [Member]
Long-Term Debt, Fair Value	121,720
Long-Term Debt, Carrying Amount	142,778
Fair Value, Inputs, Level 1 [Member]
Long-Term Debt, Fair Value	228,424
Long-Term Debt, Carrying Amount	$ 266,610

Accrued liabilities (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Accrued loan interest and loan fees	$ 8,139	$ 3,355
Accrued operating expenses	4,746	4,076
Accrued capitalized expenses	1,246	371
Accrued voyage expenses and commissions	2,003	2,472
Accrued general and administrative expenses	1,342	1,121
Total	$ 17,476	$ 11,395

Income Taxes (Details Narrative)	Dec. 31, 2022 USD ($)
Income Tax Disclosure [Abstract]
Provision for income tax	$ 0

Partners’ Capital - Schedule of Incentive Distributions (Table) (Details)	12 Months Ended
	Dec. 31, 2022 $ / shares
Minimum Quarterly Distribution [Member] \| Limited Partner [Member]
Marginal percentage interest in distributions	98.00%
Minimum Quarterly Distribution [Member] \| General Partner [Member]
Marginal percentage interest in distributions	2.00%
First Target Distribution [Member] \| Limited Partner [Member]
Marginal percentage interest in distributions	98.00%
First Target Distribution [Member] \| General Partner [Member]
Marginal percentage interest in distributions	2.00%
Second Target Distribution [Member] \| Limited Partner [Member]
Marginal percentage interest in distributions	85.00%
Second Target Distribution [Member] \| General Partner [Member]
Marginal percentage interest in distributions	15.00%
Third Target Distribution [Member] \| Limited Partner [Member]
Marginal percentage interest in distributions	75.00%
Third Target Distribution [Member] \| General Partner [Member]
Marginal percentage interest in distributions	25.00%
Thereafter Target Distribution [Member] \| Limited Partner [Member]
Marginal percentage interest in distributions	65.00%
Thereafter Target Distribution [Member] \| General Partner [Member]
Marginal percentage interest in distributions	35.00%
Minimum [Member] \| Minimum Quarterly Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	$ 1.6275
Minimum [Member] \| Second Target Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	1.6975
Minimum [Member] \| Third Target Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	1.8725
Minimum [Member] \| Thereafter Target Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	2.0475
Maximum [Member] \| First Target Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	1.6975
Maximum [Member] \| Second Target Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	1.8725
Maximum [Member] \| Third Target Distribution [Member] \| Total Quarterly Distribution [Member]
Distribution Target Amount per Unit	$ 2.0475

Partners’ Capital (Details Narrative) $ / shares in Units, $ in Thousands	1 Months Ended		9 Months Ended	12 Months Ended
	Jan. 31, 2022 shares	Jan. 25, 2021 USD ($)	Oct. 12, 2022 USD ($) shares	Dec. 31, 2022 USD ($) $ / shares shares	Dec. 31, 2021 $ / shares shares	Sep. 03, 2021 shares
Distribution Made to Limited Partner [Line Items]
Value of units transferred \| $				$ 6,583
Common units issued				20,821,946	19,776,946
Partners' Capital Account, Units, Treasury Units Purchased				566,239	382,250
Omnibus Incentive Compensation Plan [Member]
Distribution Made to Limited Partner [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	1,045,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period	1,045,000
Unit Repurchase Program [Member]
Distribution Made to Limited Partner [Line Items]
Repurchase amount \| $		$ 30,000
Expiration date of Repurchase plan		January 2023
Partners' Capital Account, Units, Treasury Units Purchased				389,962	382,250
Average price per unit \| $ / shares				15.13	11.74
LNG/C Aristos I and LNG/C Aristarchos [Member]
Distribution Made to Limited Partner [Line Items]
Common units issued						1,153,846
M/V Manzanillo Express [Member]
Distribution Made to Limited Partner [Line Items]
Common units transferred			505,204
Value of units transferred \| $			$ 6,583
Maximum [Member] \| Omnibus Incentive Compensation Plan [Member]
Distribution Made to Limited Partner [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	750,000
CGP [Member]
Distribution Made to Limited Partner [Line Items]
Interest in CGP in the Partnership				1.69%
CGP [Member] \| Right Waived [Member] \| Minimum [Member]
Distribution Made to Limited Partner [Line Items]
Distribution target amount per unit \| $ / shares				$ 1.6975
CGP [Member] \| Right Waived [Member] \| Maximum [Member]
Distribution Made to Limited Partner [Line Items]
Distribution target amount per unit \| $ / shares				$ 1.75

Omnibus Incentive Compensation Plan (Details Narrative) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Jan. 31, 2022 shares	Mar. 18, 2022 $ / shares shares	Dec. 31, 2022 USD ($) shares	Dec. 30, 2022 $ / shares shares	Dec. 31, 2021 USD ($) shares	Dec. 31, 2020 USD ($)
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Units granted			745,769
Units vested			249,902		412,916
Value of unvested units accrued distribution \| $			$ 223
Share-Based Payment Arrangement, Noncash Expense \| $			3,790		$ 2,043	$ 2,049
Total compensation cost related to non vested awards \| $			$ 7,528
Expected period of recognition for recognized compensation cost			2 years
Omnibus Incentive Compensation Plan [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	1,045,000
Share-Based Compensation Arrangement by Share-Based Payment Award, Shares Issued in Period	1,045,000
Omnibus Incentive Compensation Plan [Member] \| Maximum [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Number of Shares Authorized	750,000
Amended and Restated Compensation Plan (the "Plan") [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Units granted		743,800
Grant-date fair value \| $ / shares		$ 15.18
Number of annual installments for awards vested		3
Units vested			247,933
Second Amended And Restated Compensation Plan ("the Plan") [Member]
Share-Based Compensation Arrangement by Share-Based Payment Award [Line Items]
Units granted				1,969
Grant-date fair value \| $ / shares				$ 13.65
Units vested			1,969

Net Income Per Unit (Details Narrative) - shares	12 Months Ended
Net Income Per Unit (Details Narrative) - shares	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Share-Based Compensation Arrangement by Share-Based Payment Award, Equity Instruments Other than Options, Grants in Period	745,769
Share-Based Payment Arrangement [Member]
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Antidilutive units	249,902	412,916	412,916

Commitments and Contingencies - Future minimum charter hire receipts (Details) $ in Thousands	Dec. 31, 2022 USD ($)
Commitments and Contingencies Disclosure [Abstract]
2023	$ 267,528
2024	232,017
2025	165,569
2026	98,334
2027	95,404
Thereafter	275,852
Total	$ 1,134,704

Commitments and Contingencies (Details Narrative) $ in Thousands	Dec. 31, 2022 USD ($)
Acquisition of Vessels [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other Commitment Due In Next Twelve Months	$ 451,000
Purchase of Scrubbers and BWT Systems [Member]
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Other Commitment Due In Next Twelve Months	$ 5,009

Subsequent Events (Details Narrative) - USD ($) $ / shares in Units, $ in Thousands		1 Months Ended		2 Months Ended		12 Months Ended
	Jan. 10, 2023	Feb. 07, 2023	Jan. 26, 2023	Mar. 14, 2023	Feb. 17, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Subsequent Event [Line Items]
Repayment amount						$ 218,954	$ 145,471	$ 153,573
New Unit Repurchase Program [Member]
Subsequent Event [Line Items]
Repurchase amount			$ 30,000
Expiration date of Repurchase plan			January 2025
Issued in January 2021 maturing in February 2026 (the “2021 CMBFL - Panamax”) [Member]
Subsequent Event [Line Items]
Repayment amount				$ 23,423
New Sale And Lease Back Agreement 2023 [Member]
Subsequent Event [Line Items]
Sale and leaseback transaction gross cash inflow financing arrangement					$ 184,000
Borrowing capacity		$ 184,000
Description of scope		purpose of partially financing the acquisition of the shares of the company owning the LNG/C Asterix I
Debt Instrument, Term		10 years
Subsequent Event [Member] \| M/V Itajai Express [Member]
Subsequent Event [Line Items]
Total consideration	$ 122,500
Description of financing	was funded through debt of $108,000 (Note 7), a cash deposit advanced in June 2022 (Note 5) and cash at hand
Subsequent Event [Member] \| LNG/C Asterix I [Member]
Subsequent Event [Line Items]
Total consideration					$ 230,000
Description of financing					was funded through debt of $184,000, a cash deposit advanced in June 2022 (Note 5) and cash at hand
Limited Partner [Member] \| Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends Payable, Date Declared			Jan. 26, 2023
Distribution Made to Limited Partner, Distributions Declared, Per Unit			$ 0.15
Dividends Payable, Date of Payment			Feb. 10, 2023
Dividends Payable, Date of Record			Feb. 07, 2023