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Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2017 shares
Document and Entity Information
Document Type	20-F
Document Period End Date	Dec. 31, 2017
Amendment Flag	false
Entity Registrant Name	Capital Product Partners L.P.
Trading Symbol	CPLP
Entity Central Index Key	0001392326
Entity Current Reporting Status	Yes
Entity Voluntary Filers	No
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Well Known Seasoned Issuer	No
Document Fiscal Year Focus	2017
Document Fiscal Period Focus	FY
General Partner
Document and Entity Information
Entity's units outstanding	2,439,989
Common Limited Partner
Document and Entity Information
Entity's units outstanding	127,246,692
Preferred Limited Partner
Document and Entity Information
Entity's units outstanding	12,983,333

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 63,297	$ 106,678
Trade accounts receivable	4,772	2,497
Prepayments and other assets	3,046	3,943
Inventories	5,315	4,761
Assets held for sale (Note 5)	29,027	0
Total current assets	105,457	117,879
Fixed assets
Vessels, net (Note 5)	1,265,196	1,367,731
Total fixed assets	1,265,196	1,367,731
Other non-current assets
Above market acquired charters (Note 6)	75,035	90,243
Deferred charges, net	1,519	4,154
Restricted cash (Note 7)	18,000	18,000
Prepayments and other assets	1,009	598
Total non-current assets	1,360,759	1,480,726
Total assets	1,466,216	1,598,605
Current liabilities
Current portion of long-term debt, net (Note 7)	50,514	39,568
Trade accounts payable	9,631	8,686
Due to related parties (Note 4)	14,234	16,095
Accrued liabilities (Note 9)	15,111	7,861
Deferred revenue, current (Note 4)	18,800	19,986
Liability associated with vessel held for sale (Notes 5, 7)	14,781	0
Total current liabilities	123,071	92,196
Long-term liabilities
Long-term debt, net (Note 7)	403,820	562,619
Deferred revenue	5,920	16,033
Total long-term liabilities	409,740	578,652
Total liabilities	532,811	670,848
Commitments and contingencies (Note 16)
Partners' capital
General Partner	16,427	16,685
Limited Partners - Common (127,246,692 and 122,094,633 units issued and outstanding at December 31, 2017 and 2016, respectively)	806,472	800,566
Limited Partners - Preferred (12,983,333 Class B units issued and outstanding at December 31, 2017 and 2016)	110,506	110,506
Total partners' capital	933,405	927,757
Total liabilities and partners' capital	$ 1,466,216	$ 1,598,605

Consolidated Balance Sheets (Parentheticals) - shares	Dec. 31, 2017	Dec. 31, 2016
Consolidated Balance Sheets [Abstract]
Limited Partners - Common Units Issued	127,246,692	122,094,633
Limited Partners - Common Units Outstanding	127,246,692	122,094,633
Limited Partners - Preferred Units Issued	12,983,333	12,983,333
Limited Partners - Preferred Units Outstanding	12,983,333	12,983,333

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Revenue:
Revenues	$ 204,462	$ 205,594	$ 156,613
Revenues - related party (Note 4)	44,653	36,026	63,731
Total revenues	249,115	241,620	220,344
Expenses:
Voyage expenses (Note 10)	15,165	9,920	6,479
Voyage expenses - related party (Notes 4, 10)	0	360	411
Vessel operating expenses (Note 10)	74,516	66,637	58,625
Vessel operating expenses - related party (Notes 4, 10)	11,629	10,866	11,708
General and administrative expenses (Note 4)	6,234	6,253	6,608
Vessel depreciation and amortization (Note 5)	73,993	71,897	62,707
Impairment of vessel (Notes 5, 8)	3,282	0	0
Operating income	64,296	75,687	73,806
Other income / (expense), net:
Interest expense and finance cost (Note 7)	(26,605)	(24,302)	(20,143)
Other income	792	1,104	1,747
Total other expense, net	(25,813)	(23,198)	(18,396)
Partnership's net income	38,483	52,489	55,410
Preferred unit holders' interest in Partnership's net income	11,101	11,101	11,334
General Partner's interest in Partnership's net income	522	818	879
Common unit holders' interest in Partnership's net income	$ 26,860	$ 40,570	$ 43,197
Net income per (Note 14):
Common unit, basic and diluted	$ 0.22	$ 0.34	$ 0.38
Weighted-average units outstanding:
Common units, basic and diluted	123,845,345	119,803,329	115,030,879
Total Partnership's comprehensive income:	$ 38,483	$ 52,489	$ 55,410

Consolidated Statements of Changes in Partners' Capital - USD ($) $ in Thousands	Total	General Partner	Common Unitholders	Preferred Unitholders
Balance at Dec. 31, 2014	$ 872,561	$ 15,602	$ 735,547	$ 121,412
Distributions declared and paid (distributions of $0.94 in 2015, $0.46 in 2016 and $0.32 in 2017 per common unit, $0.87 in 2015, $0.86 in 2016 and $0.86 in 2017 per preferred unit) (Note 12)	(122,773)	(2,225)	(109,027)	(11,521)
Partnership's net income	55,410	879	43,197	11,334
Issuance of Partnership's units (Note 12)	132,588		132,588
Equity compensation expense (Note 13)	34		34
Conversion of Partnership's units (Note 12)		2,742	7,900	(10,642)
Balance at Dec. 31, 2015	937,820	16,998	810,239	110,583
Distributions declared and paid (distributions of $0.94 in 2015, $0.46 in 2016 and $0.32 in 2017 per common unit, $0.87 in 2015, $0.86 in 2016 and $0.86 in 2017 per preferred unit) (Note 12)	(68,193)	(1,131)	(55,884)	(11,178)
Partnership's net income	52,489	818	40,570	11,101
Issuance of Partnership's units (Note 12)	4,567		4,567
Equity compensation expense (Note 13)	1,074		1,074
Balance at Dec. 31, 2016	927,757	16,685	800,566	110,506
Distributions declared and paid (distributions of $0.94 in 2015, $0.46 in 2016 and $0.32 in 2017 per common unit, $0.87 in 2015, $0.86 in 2016 and $0.86 in 2017 per preferred unit) (Note 12)	(51,630)	(780)	(39,749)	(11,101)
Partnership's net income	38,483	522	26,860	11,101
Issuance of Partnership's units (Note 12)	17,639		17,639
Equity compensation expense (Note 13)	1,156		1,156
Balance at Dec. 31, 2017	$ 933,405	$ 16,427	$ 806,472	$ 110,506

Consolidated Statements of Changes in Partners' Capital (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Limited Partners Common
Distributions declared and paid	$ 0.32	$ 0.46	$ 0.94
Limited Partners Preferred
Distributions declared and paid	$ 0.86	$ 0.86	$ 0.87

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Cash flows from operating activities:
Net income	$ 38,483	$ 52,489	$ 55,410
Adjustments to reconcile net income to net cash provided by operating activities:
Vessel depreciation and amortization (Note 5)	73,993	71,897	62,707
Amortization and write off of deferred financing costs	1,262	1,250	908
Amortization of above market acquired charters (Note 6)	15,208	14,542	14,864
Equity compensation expense (Note 13)	1,156	1,074	34
Impairment of vessel (Notes 5, 8)	3,282	0	0
Changes in operating assets and liabilities:
Trade accounts receivable	(2,275)	183	(92)
Due from related parties	0	0	55
Prepayments and other assets	486	(600)	(2,102)
Inventories	(719)	(354)	(973)
Trade accounts payable	2,764	(595)	1,929
Due to related parties	(1,861)	(6,059)	4,657
Accrued liabilities	7,624	662	1,114
Deferred revenue	(11,299)	24,267	(2,207)
Dry docking costs paid	(1,130)	(3,670)	(2,095)
Net cash provided by operating activities	126,974	155,086	134,209
Cash flows from investing activities:
Vessel acquisitions and improvements including time charter agreements (Notes 5, 6)	(2,038)	(90,782)	(207,937)
Increase in restricted cash	0	(1,000)	(2,000)
Net cash used in investing activities	(2,038)	(91,782)	(209,937)
Cash flows from financing activities:
Proceeds from issuance of Partnership units (Note 12)	17,815	4,546	133,327
Expenses paid for issuance of Partnership units	(247)	(784)	(739)
Proceeds from issuance of long-term debt (Note 7)	0	35,000	115,000
Payments of long-term debt (Note 7)	(129,262)	(17,354)	(121,299)
Deferred financing costs paid	(4,993)	(31)	(1,797)
Dividends paid (Note 12)	(51,630)	(68,193)	(122,773)
Net cash (used in) / provided by financing activities	(168,317)	(46,816)	1,719
Net (decrease) / increase in cash and cash equivalents	(43,381)	16,488	(74,009)
Cash and cash equivalents at the beginning of the year	106,678	90,190	164,199
Cash and cash equivalents at the end of the year	63,297	106,678	90,190
Supplemental Cash Flow Information
Cash paid for interest	19,646	23,763	16,759
Non-Cash Investing and Financing Activities
Capital expenditures included in liabilities	312	1,383	769
Offering expenses included in liabilities	35	106	0
Deferred financing costs included in liabilities	79	0	0
Capitalized dry docking costs included in liabilities	11	1,141	1,687
Assumption of loan regarding the acquisition of the shares of Filonikis Product Carrier S.A. (''Filonikis'') (Notes 3, 7)	0	15,750	0
Units issued to acquire Filonikis (Note 3)	$ 0	$ 911	$ 0

Basis of Presentation and General Information

12 Months Ended

Dec. 31, 2017

Basis of Presentation and General Information [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. The Partnership is an international shipping company. As of December 31, 2017, its fleet of thirty six vessels comprises four suezmax crude oil tankers, twenty-one modern medium range tankers, all of which are classed as IMO II/III chemical/product carriers, ten post-panamax container carrier vessels and one capesize bulk carrier. Its vessels are capable of carrying a wide range of cargoes, including crude oil, refined oil products, such as gasoline, diesel, fuel oil and jet fuel, edible oils and certain chemicals, such as ethanol, as well as dry cargo and containerized goods under short-term voyage charters and medium to long-term time and bareboat charters.

The consolidated financial statements include Capital Product Partners, L.P. and the following vessel-owning companies, intermediate holding company and operating companies (collectively the “Partnership”) which were all incorporated or formed under the laws of the Marshall Islands and Liberia.

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”)

Capital Product Operating LLC

01/16/2007

—

Crude Carriers Corp.

10/29/2009

—

09/30/2011

—

Crude Carriers Operating Corp.

01/21/2010

—

09/30/2011

—

Shipping Rider Co.

09/16/2003

M/T Atlantas II

36,760

04/04/2007

04/26/2006

Canvey Shipmanagement Co.

03/18/2004

M/T Assos

47,872

08/16/2010

04/04/2007

05/17/2006

Centurion Navigation Limited

08/27/2003

M/T Aktoras

(M/T British Envoy)

36,759

04/04/2007

07/12/2006

Polarwind Maritime S.A.

10/10/2003

M/T Agisilaos

36,760

04/04/2007

08/16/2006

Carnation Shipping Company

11/10/2003

M/T Arionas

36,725

04/04/2007

11/02/2006

Apollonas Shipping Company

02/10/2004

M/T Avax

47,834

04/04/2007

01/12/2007

Tempest Maritime Inc.

09/12/2003

M/T Aiolos

(M/T British Emissary)

36,725

04/04/2007

03/02/2007

Iraklitos Shipping Company

02/10/2004

M/T Axios

47,872

04/04/2007

02/28/2007

Epicurus Shipping Company

02/11/2004

M/T Atrotos

47,786

03/01/2010

05/08/2007

Laredo Maritime Inc.

02/03/2004

M/T Akeraios

47,781

07/13/2007

Lorenzo Shipmanagement Inc.

05/26/2004

M/T Apostolos

47,782

09/20/2007

Splendor Shipholding S.A.

07/08/2004

M/T Anemos I

47,782

09/28/2007

Ross Shipmanagement Co.

12/29/2003

M/T Attikos

12,000

09/24/2007

01/20/2005

Sorrel Shipmanagement Inc.

02/07/2006

M/T Alexandros II

(M/T Overseas Serifos)

51,258

01/29/2008

Baymont Enterprises Incorporated

05/29/2007

M/T Amore Mio II

159,982

03/27/2008

07/31/2007

Forbes Maritime Co.

02/03/2004

M/T Aristofanis

12,000

04/30/2008

06/02/2005

Wind Dancer Shipping Inc.

02/07/2006

M/T Aristotelis II

(M/T Overseas Sifnos)

51,226

06/17/2008

Belerion Maritime Co.

01/24/2006

M/T Aris II

(M/T Overseas Kimolos)

51,218

08/20/2008

Mango Finance Corp.

07/14/2006

M/T Agamemnon II

51,238

04/07/2009

11/24/2008

Navarro International S.A.

07/14/2006

M/T Ayrton II

51,260

04/13/2009

04/10/2009

Adrian Shipholding Inc.

06/22/2004

M/T Alkiviadis

36,721

06/30/2010

03/29/2006

Patroklos Marine Corp.

06/17/2008

M/V Cape Agamemnon

179,221

06/09/2011

01/25/2011

Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.

04/06/2006

M/T Miltiadis M II

162,397

09/30/2011

04/26/2006

Amoureux Carriers Corp.

04/14/2010

M/T Amoureux

149,993

09/30/2011

—

Aias Carriers Corp.

04/14/2010

M/T Aias

150,393

09/30/2011

—

Agamemnon Container Carrier Corp.

04/19/2012

M/V Agamemnon

108,892

12/22/2012

06/28/2012

Archimidis Container Carrier Corp.

04/19/2012

M/V Archimidis

108,892

12/22/2012

06/22/2012

Aenaos Product Carrier S.A.

10/16/2013

M/T Aristotelis

51,604

11/28/2013

—

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

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

Miltiadis M II Corp.

08/28/2012

—

Dias Container Carrier S.A

05/16/2013

M/V Akadimos
(renamed to “CMA
CGM Amazon”) (1)

115,534

06/10/2015

Poseidon Container Carrier S.A

05/16/2013

M/V Adonis (renamed to
“CMA CGM
Uruguay”) (1)

115,639

09/18/2015

Isiodos Product Carrier S.A

05/31/2013

M/T Active (1)

50,136

03/31/2015

Titanas Product Carrier S.A

05/31/2013

M/T Amadeus (1)

50,108

06/30/2015

Atrotos Container Carrier S.A

10/25/2013

M/V Anaxagoras
(renamed to “CMA
CGM Magdalena”) (1)

115,639

02/26/2016

Filonikis Product Carrier S.A

05/31/2013

M/T Amor

49,999

10/24/2016

09/30/2015

(1)	Vessels that were acquired according to the terms of the Master Vessel Acquisition Agreement (“Master Agreement”) (Note 5).

Significant Accounting Policies

12 Months Ended

Dec. 31, 2017

Significant Accounting Policies [Abstract]

Significant Accounting Policies

2. Significant Accounting Policies

(a)

Principles of Consolidation: The accompanying 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 and Operating Expenses: The Partnership generates its revenues from charterers for the charter hire of its vessels. Vessels are chartered on time charters, bareboat charters or voyage charters. 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 monthly in advance. Some of the Partnership’s time charters also include profit sharing provisions, under which the Partnership can realize additional revenues in the event that spot rates are higher than the base rates in these time charters. A bareboat charter is a contract in which the vessel owner provides the vessel to the charterer for a fixed period of time at a specified daily rate, which is generally payable monthly in advance, and the charterer generally assumes all risk and costs of operation during the bareboat charter period. 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. Under a typical voyage charter, the vessel owner is paid on the basis of moving cargo from a loading port to a discharge port. In voyage charters the vessel owner is generally responsible for paying both vessel operating costs and voyage expenses, and the charterer generally is responsible for any delay at the loading or discharging ports. A voyage is deemed to commence upon the later of the completion of discharge of the vessel’s previous cargo or upon vessel arrival to the agreed upon port, based on the terms of a voyage contract that is not cancellable and voyage is deemed to end upon the completion of discharge of the delivered cargo. Revenues under voyage charter agreements are recognized on a pro-rata basis.

Time, bareboat and voyage charter revenues are recognized when a charter agreement exists, charter rate is fixed and determinable, the vessel is made available to the lessee, and collection of the related revenue is reasonably assured. Revenues are recognized ratably on a straight line basis over the period of the respective charter. Revenues from profit sharing arrangements in time charters represent a portion of time charter equivalent (voyage income less direct expenses, divided by operating days), that exceeds the agreed base rate and are recognized in the period earned.

Deferred revenue represents cash and other assets received in advance of being earned and deferred revenue resulting from straight-line revenue recognition in respect of charter agreements that provide for varying charter rates. The portion of the deferred revenue that will be earned within the next twelve months is classified as current liability and the rest as long-term liability.

Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and expensed over the related charter period and all the other voyage expenses are expensed as incurred. In general, under time and bareboat charter agreements, all voyages expenses, except commissions are assumed by the charterer. For voyage charters, all voyage expenses are paid by the Partnership.

Vessel operating expenses presented in the consolidated financial statements mainly consist of:

•

Management fees payable to the Partnership’s manager, Capital Ship Management Corp. (the “Manager” or “CSM”) under three different types of Management agreements (Note 4); and

•

Actual operating expenses, such as crewing, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses.

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 in the accompanying 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, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash.

(g)

Trade Accounts Receivable: The amount shown as trade accounts receivable primarily consists of earned revenue that has not been billed yet or that it has been billed but not yet collected. At each balance sheet date all potentially uncollectible accounts are assessed individually for purposes of determining the appropriate write off. As of December 31, 2017 and 2016 there were no write off.

(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.

In the case that a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i) 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.

(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 and any material expenses incurred upon their construction (improvements and delivery expenses, on-site supervision costs incurred during the construction periods, as well as capitalized interest expense during the construction period). Vessels acquired through acquisition of businesses are recorded at their acquisition date fair values. The cost of each of the Partnership’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.

(k)

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

In recent years, market conditions, as compared to previous years, have changed significantly as a result of the global credit crisis and resulting slowdown in world trade. Charter rates decreased and values of assets were affected. The Partnership considered these market developments as indicators of potential impairment of the carrying amount of its long-lived assets. The Partnership has performed an undiscounted cash flow test based on U.S. GAAP as of December 31, 2017 and 2016, determining undiscounted projected net operating cash flows for the vessels and comparing them to the carrying values of the vessels, and any related intangible assets and liabilities. In developing estimates of future cash flows, the Partnership made assumptions about future charter rates, utilization rates, vessel operating expenses, future dry docking costs and the estimated remaining useful life of the vessels. These assumptions are based on historical trends as well as future expectations that are in line with the Partnership’s historical performance and expectations for the vessels’ utilization under the current deployment strategy. Based on these assumptions, the Partnership determined that the vessels held for use and their related intangible assets and liabilities were not impaired as of December 31, 2017 and 2016.

(l)

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 determines the present value of the difference between: (i) the contractual charter rate and (ii) the prevailing market rate for a charter of equivalent duration. When determining present value, the Partnership uses Weighted Average Cost of Capital (“WACC”). The resulting above-market (assets) and below-market (liabilities) charters are amortized using the straight line method as a reduction and increase, respectively, to revenues over the remaining term of the charters.

(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, general partner’s interest in net income (including incentive distribution rights) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 14). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised.

(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 bareboat charters. The Partnership does not use discrete financial information to evaluate the operating results for each such type of charter or vessel. Although revenue can be identified for these types of charters or vessels, management cannot and does not identify expenses, profitability or other financial information for these various types of charters or vessels. As a result, management, including the chief operating decision maker, reviews operating results solely by revenue per day and operating results of the fleet, and thus the Partnership has determined that it operates as one reportable segment. Furthermore, when the Partnership charters a vessel to a charterer, the charterer is free to trade the vessel worldwide and, as a result, the disclosure of geographic information is impracticable.

(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. Units granted to employees are measured at their fair value equal to the market value of the Partnership’s common units on the grant date. Unvested units granted to non-employees are initially and subsequently measured at their then current fair value as of the financial reporting dates. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period. In addition, unvested awards granted to non-employees are measured at their then-current fair value as of the financial reporting dates (Note 13).

(q)

Recent Accounting Pronouncements: In January 2017, the Financial Accounting Standards Board (“FASB”) issued the Accounting Standard Update (“ASU”) 2017-01 Business Combinations to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisition (or disposals) of assets or businesses. Under current implementation guidance the existence of an integrated set of acquired activities (inputs and processes that generate outputs) constitutes an acquisition of business. This ASU provides a screen to determine when a set of assets and activities does not constitute a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. This update is effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years. The amendments of this ASU should be applied prospectively on or after the effective date. Early adoption is permitted, including adoption in an interim period 1) for transactions for which the acquisition date occurs before the issuance date or effective date of the ASU, only when the transaction has not been reported in financial statements that have been issued or made available for issuance and 2) for transactions in which a subsidiary is deconsolidated or a group of assets is derecognized that occur before the issuance date or effective date of the amendments, only when the transaction has not been reported in financial statements that have been issued or made available for issuance. The Partnership will adopt this update from January 1, 2018 and believes that the adoption of this update will not have any material impact on its financial statements.

In November 2016 the FASB issued the ASU 2016-18 – Restricted cash. This ASU requires that a statement of cash flows explains the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. This update is effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years and is required to be applied retrospectively. Early adoption is permitted, including adoption in an interim period. The implementation of this update affects the presentation in the statement of cash flows as currently changes in restricted cash are included within investing activities and has no impact on the Partnership’s balance sheet and statement of comprehensive income. The Partnership has not elected early adoption.

In August 2016, the FASB issued the ASU 2016-15 – classification of certain cash payments and cash receipts. This ASU addresses certain cash flow issues with the objective of reducing the existing diversity in practice. This update is effective for public entities with reporting periods beginning after December 15, 2017, including interim periods within those years. Early adoption is permitted, including adoption in an interim period. It must be applied retrospectively to all periods presented but may be applied prospectively from the earliest date practicable, if retrospective application would be impracticable. The Partnership evaluated the impact of this ASU on its financial statements and determined that there is no impact as the classification of the related cash payments and cash receipts has always been reported as described in the ASU.

In March 2016, the FASB issued the ASU No 2016-09, Stock Compensation, which is intended to simplify several aspects of the accounting for share-based payment award transactions. The guidance was effective for the fiscal year beginning after December 15, 2016, including interim periods within that year. During 2017 the Partnership adopted this ASU with no material impact on its financial statements.

In February 2016, the FASB issued the ASU 2016-02, Leases (Topic 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. Accounting by lessors will remain largely unchanged from current U.S. GAAP but require the lessors to separate lease and non-lease components. The requirements of this standard include an increase in required disclosures. The Partnership expects that its time charter arrangements will be subject to the requirements of the new Leases standard as the Partnership will be regarded as the lessor. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after the date of initial application, with an option to use certain transition relief. This update is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. The Partnership is currently evaluating the impact, if any, of the adoption of this new standard and will evaluate any amendments that may be issued.

In July 2015, the FASB issued the ASU 2015-11, Simplifying the Measurement of Inventory to simplify the measurement of inventory using first-in, first out (FIFO) or average cost method. According to this ASU an entity should measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of completion, disposal and transportation. This update was effective for public entities with reporting periods beginning after December 15, 2016 and early adoption was permitted. During 2017 the Partnership adopted this ASU with no material impact on its financial statements.

On May 28, 2014, the FASB issued the ASU No 2014-09 Revenue from Contracts with Customers. ASU 2014-09, as amended, outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most current revenue recognition guidance, including industry-specific guidance. The standard is effective for annual periods beginning after December 15, 2017, and interim periods therein, and shall be applied either retrospectively to each period presented or as a cumulative-effect adjustment as of the date of adoption. The Partnership adopted this ASU for the reporting period commencing on January 1, 2018. The Partnership elected to use the modified retrospective transition method for the implementation of this standard. As a result of the adoption of this standard revenues generated under voyage charter agreements will be recognized on a pro-rata basis from the date of loading to discharge of cargo. Prior to the adoption of this standard, revenues generated under voyage charter agreements were recognized on a pro-rata basis over the period of the voyage which was deemed to commence upon the later of the completion of discharge of the vessel’s previous cargo or upon vessel’s arrival to the agreed upon port, and deemed to end upon the completion of discharge of the delivered cargo. The financial impact on the Partnership’s financial statements will derive from voyage charters which do not commence and end in the same reporting period due to the timing of recognition of revenue, as well as the timing of recognition of certain voyage related costs. As voyage charters represent 5.8% of the Partnership’s revenues for the year ended December 31, 2017, and only three vessels of the Partnership had voyage charters that were in progress as of December 31, 2017, we expect the effect of implementation to be insignificant.

Acquisitions

12 Months Ended

Dec. 31, 2017

Business Acquisitions [Abstract]

Acquisitions

3. Acquisition of Filonikis Product Carrier S.A. (M/T Amor)

On October 24, 2016, following the unanimous recommendation of the conflicts committee and the unanimous approval of the board of directors, the Partnership acquired the shares of Filonikis, the owning company of the M/T Amor from CMTC for a total consideration of $16,911. The Partnership also assumed, on the acquisition date, CMTC’s guarantee with respect to the outstanding balance of $15,750 of the loan that Filonikis had entered into and was arranged by CMTC (Note 7). The vessel at the time of her acquisition by the Partnership was fixed on a two-year time charter with Cargill International S.A. (“Cargill”) ending October 2017, with the option to terminate 30 days earlier, and immediately thereafter with CMTC for a two-month period time charter.

The Partnership accounted for the acquisition of Filonikis as an acquisition of a business. All assets and liabilities of Filonikis except the vessel, necessary permits, the time charter agreements and the loan, were retained by CMTC. The purchase price of the acquisition has been allocated to the identifiable assets acquired and liabilities assumed.

•

Purchase Price

The total purchase consideration of $16,911 was funded by $16,000 from the Partnership’s cash and the issuance of 283,696 new Partnership’s common units at a price of $3.21 per unit as quoted on the Nasdaq Stock Exchange on October 24, 2016 the day of the acquisition of Filonikis (Note 12).

•

Acquisition related costs

Acquisition related costs of $264 are included in general and administrative expenses in the Partnership’s consolidated statements of comprehensive income for the year ended December 31, 2016.

•

Purchase price allocation

The allocation of the purchase price to acquired identifiable assets and liabilities assumed was based on their estimated fair values at the date of acquisition. The fair value allocated to each class of identifiable assets acquired and liabilities assumed of Filonikis was calculated as follows:


	As of October 24, 2016
Vessel	$	31,600
Above market acquired time charters	$	1,061

Identifiable assets	$	32,661

Loan	$	(15,750	)

Net assets acquired	$	16,911

Purchase price	$	(16,911	)

The Partnership concluded that its measurements for the assets acquired appropriately reflect consideration of all available information that existed as of the acquisition date. The fair value of the vessel of $31,600 was quoted by independent ship brokers at the time of her acquisition by the Partnership and the fair value of the loan of $15,750 was determined to be its face value.

•

Identifiable intangible assets

The following table sets forth the component of the identifiable intangible asset acquired on the purchase of Filonikis which is being amortized over its duration on a straight-line basis as a reduction of revenue:

Intangible

assets

As of

October 24,

2016

Duration of

time charters

acquired

Above market acquired time charter

1,061

1 year

The fair value of the above market time charter acquired was determined as the difference between the time charter rate at which the vessel was fixed and the market rate for comparable charters as provided by independent ship brokers on the business combination date discounted at a WACC of approximately 7.5%.

Total revenues and net income of Filonikis since its acquisition by the Partnership were $980 and $222 respectively and are included in the Partnership’s consolidated statement of comprehensive income for the year ended December 31, 2016.

•

Unaudited Pro Forma Financial Information

The supplemental pro forma financial information was prepared using the acquisition method of accounting and is based on the following:

•

The Partnership’s actual results of operations for the years ended December 31, 2016 and 2015

•

Pro forma results of operations of Filonikis for the period from the vessel’s delivery from the shipyard on September 30, 2015 (vessel inception) to December 31, 2015 and from January 1, 2016 to October 24, 2016 as if the vessel was operating under post acquisition revenue and cost structure.

The combined results do not purport to be indicative of the results of the operations which would have resulted had the acquisition been effected at beginning of the applicable period noted above, or the future results of operations of the combined entity.

The following table summarizes total net revenues; net income and net income per common unit of the combined entity had the acquisition of Filonikis occurred on September 30, 2015 (vessel inception):


	For the year ended December 31,
	2016		2015
Total revenues	$	245,825	$	221,638
Partnership’s net income	$	53,677	$	55,430
Preferred unit holders’ interest in Partnership’s net income	$	11,101	$	11,334
General Partner’s interest in Partnership’s net income	$	850	$	881
Common unit holders interest in Partnership’s net income	$	41,726	$	43,215
Net income per common unit basic and diluted	$	0.35	$	0.38

Transactions with Related Parties

12 Months Ended

Dec. 31, 2017

Transactions with Related Parties [Abstract]

Transactions with Related Parties

4. Transactions with Related Parties

The Partnership and its subsidiaries have related party transactions with CMTC which is a related party unit holder. The Partnership and its subsidiaries have also related party transactions with the Manager, arising from certain terms of the following three different types of management agreements.

Fixed fee management agreement: At the time of the completion of its Initial Public Offering (“IPO”), the Partnership entered into an agreement with its Manager, according to which the Manager provides the Partnership with certain commercial and technical management services for a fixed daily fee per managed vessel which covers the commercial and technical management services, the respective vessels’ operating costs such as crewing, repairs and maintenance, insurance, stores, spares, and lubricants as well as the cost of the first special survey or next scheduled dry-docking, of each vessel. In addition to the fixed daily fees payable under the management agreement, the Manager is entitled to supplementary compensation for additional fees and costs (as defined in the agreement) of any direct and indirect additional expenses it reasonably incurs in providing these services, which may vary from time to time. For the years ended December 31, 2017, 2016 and 2015 management fees under the fixed fee management agreement amounted to $488, $981 and $3,221, respectively. The Partnership also pays a fixed daily fee per bareboat chartered vessel in its fleet, mainly to cover compliance and commercial costs, which include those costs incurred by the Manager to remain in compliance with the oil majors’ requirements, including vetting requirements;

Floating fee management agreement: On June 9, 2011, the Partnership entered into an agreement with its Manager based on actual expenses per managed vessel. Under the terms of this agreement, the Partnership compensates its Manager for expenses and liabilities incurred on the Partnership’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 Manager. The Partnership also pays its Manager a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index. For the years ended December 31, 2017, 2016 and 2015 management fees under the floating fee management agreement amounted to $10,100, $8,865 and $7,477, respectively; and

Crude management agreement: On September 30, 2011, the Partnership completed the acquisition of Crude Carriers Corp. and its subsidiaries (“Crude”). Three of the five crude tanker vessels that the Partnership acquired at the time of the completion of the merger with Crude continue to be managed under a management agreement entered into in March 2010 with the Manager, whose initial term expires on December 31, 2020. Under the terms of this agreement the Partnership compensates the Manager for all of its 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 and administrative costs. For the years ended December 31, 2017, 2016 and 2015 management fees under the crude management agreement amounted to $1,041, $1,020 and $1,010, respectively. Prior to January 1, 2017 the Partnership paid its Manager the following fees:

(a) a daily technical management fee per managed vessel that is revised annually based on the United States Consumer Price Index;

(b) a sale & purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired/disposed by Crude; and

(c) a commercial services fee equal to 1.25% of all gross charter revenues generated by each vessel for commercial services rendered.

Effective from January 1, 2017 the Manager agreed to waive going forward (i) the sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of the three vessels and (ii) the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered. For the years ended December 31, 2016 and 2015, such commercial services amounted to $360 and $411, respectively, and are included in “Voyage expenses – related party” in the accompanying consolidated statements of comprehensive income.

The Manager has the right to terminate the Crude management agreement and, under certain circumstances, could receive substantial sums in connection with such termination. In March 2017 this termination fee was adjusted to $10,124 from $9,858.

All the above three agreements constitute the “Management Agreements” and the related management fees are included in “Vessel operating expenses – related party” in the accompanying consolidated statements of comprehensive income.

On April 4, 2007, the Partnership entered into an administrative services agreement with the Manager, pursuant to which the Manager has agreed to provide certain administrative management services to the Partnership such as accounting, auditing, legal, insurance, IT, clerical, and other administrative services. Also the Partnership reimburses the Manager and its general partner, Capital GP L.L.C. (the “CGP”) for reasonable costs and expenses incurred in connection with the provision of these services after the Manager submits to the Partnership an invoice for such costs and expenses, together with any supporting detail that may be reasonably required. These expenses are included in general and administrative expenses in the consolidated statements of comprehensive income. In January 2016, the Partnership amended the executive services agreement with CGP according to which CGP provides certain executive officers services for the management of the Partnership’s business as well as investor relation and corporate support services to the Partnership. For the years ended December 31, 2017, 2016 and 2015 such fees amounted to $1,688, $1,688 and $1,624, 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 December 31, 2017		As of December 31, 2016

Liabilities:
Manager – payments on behalf of the Partnership (a)	$	13,218	$	15,126
Management fee payable to CSM (b)		1,016		969

Due to related parties	$	14,234	$	16,095
Deferred revenue – current (e)		2,829		2,925

Total liabilities	$	17,063	$	19,020


	For the year ended December 31,
Consolidated Statements of Income	2017		2016		2015
Revenues (c)	$	44,653	$	36,026	$	63,731
Voyage expenses		-		360		411
Vessel operating expenses		11,629		10,866		11,708
General and administrative expenses (d)		1,983		2,076		2,569

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

(b) Management fee payable to CSM : The amount outstanding as of December 31, 2017 and 2016 represents the management fee payable to CSM as a result of the Management Agreements the Partnership entered into with the Manager.

(c) Revenues: The following table includes information regarding the charter agreements that were in place between the Partnership and CMTC and its subsidiaries during 2017 and 2016.


Vessel Name	Time Charter (TC) in years	Commencement of Charter	Termination or earliest expected redelivery	Gross (Net) Daily Hire Rate
M/T Agisilaos	1.0	09/2015	06/2016	$14.5 ($14.3)
M/T Arionas	1.2	12/2014	01/2016	$15.0 ($14.8)
M/T Arionas	1.0	01/2017	02/2018	$11.0 ($10.9)
M/T Amore Mio II	0.9	08/2016	09/2017	$21.0 ($20.7)
M/T Akeraios	2.0	03/2015	04/2016	$15.6 ($15.4)
M/T Apostolos	2.0	04/2015	01/2016	$15.6 ($15.4)
M/T Anemos I	1.0	06/2015	01/2016	$17.3 ($17.0)
M/T Aristotelis	1.1 to 1.3	12/2015	12/2016	$19.0 ($18.8)
M/T Aristotelis	1.0	01/2017	02/2018	$13.8 ($13.6)
M/T Ayrton II	2.0	02/2016	02/2018	$18.0 ($17.8)
M/T Miltiadis M II	0.6	09/2015	05/2016	$35.0 ($34.6)
M/T Miltiadis M II	0.9	08/2016	08/2017	$25.0 ($24.7)
M/T Miltiadis M II	0.8 to 1.0	10/2017	08/2018	$18.0 ($18.0)
M/T Amadeus	2.0	06/2015	08/2017	$17.0 ($16.8)
M/T Atlantas II	1.0	10/2016	12/2017	$13.0 ($12.8)
Μ/Τ Amoureux	1.0	04/2017	03/2018	$22.0 ($22.0)
M/T Aktoras	0.8 to 1.0	09/2017	01/2018	$11.0 ($10.9)
M/T Aiolos	0.8 to 1.0	09/2017	07/2018	$11.0 ($10.9)
M/T Amor	0.2	09/2017	01/2018	$14.0 ($13.8)

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

(e) Deferred Revenue: As of December 31, 2017 and 2016 the Partnership had received cash in advance for charter hire relating to revenue earned in a subsequent period from CMTC.

Fixed assets and assets held for sale

12 Months Ended

Dec. 31, 2017

Property Plant And Equipment [Abstract]

Fixed assets

5. Fixed assets and assets held for sale

(a)	Advances for vessels under construction – related party

An analysis of advances for vessels under construction – related party is as follows:


	Advances for vessels under construction – related party

Balance as at December 31, 2015	$	18,172

Additions		—
Transfer to vessels		(18,172	)

Balance as at December 31, 2016	$	—

On July 24, 2014, the Partnership entered into a Master Agreement with CMTC to acquire five companies that owned five vessels under construction (the “new-buildings”) with attached time charters, subject to the amendment of the partnership agreement to reset the target distributions to holders of the Incentive Distribution Rights (the “IDRs”) (Note 12). As the reset of the IDRs was a pre-condition for the acquisition of the vessels, the amount of $36,417, representing the difference between the fair value of $347,917 of the respective new-buildings at the time of the approval of this transaction in August 2014 at the Partnership’s annual general meeting and the contractual cash consideration of $311,500, was considered to be the deemed equity contribution and thus the fair value of the reset of the IDRs. The fair value of the new-buildings amounting to $347,917 was based on the average of three valuations obtained from three independent shipbrokers.

Two of these five vessels are 50,000 DWT product carriers and the remaining three are 9,100 Twenty Feet Equivalent Units (“TEU”) post-panamax container carriers.

During 2015 the Partnership acquired from CMTC the shares of four out of the five vessel owning companies. As a result, as of December 31, 2015, the amount of $18,172 consisted of advances totalling $7,921 that the Partnership paid to CMTC for the acquisition of the remaining vessel owning company and the fair value from the reset of the IDRs of $10,251 which was attributable to this vessel, and is presented as “Advances for vessels under construction–related party” in the Partnership’s consolidated balance sheet as of December 31, 2015. On February 26, 2016 the Partnership acquired the company owning the M/V CMA CGM Magdalena, which was the last out of the five vessel owning companies the Partnership agreed to acquire from CMTC according to the terms of the Master Agreement. As a result there were no “Advances for vessels under construction–related party” as of December 31, 2016.

(b)	Vessels, net

An analysis of vessels is as follows:


	Vessel Cost		Accumulated depreciation			Net book value
Balance as at January 1, 2016	$	1,653,727	$	(338,242	)	$	1,315,485
Acquisitions and improvements		103,790		—			103,790
Transfer from Advances for vessels under construction-related party		18,172		—			18,172
Depreciation for the period		—		(69,716)			(69,716)

Balance as at December 31, 2016	$	1,775,689	$	(407,958	)	$	1,367,731
Acquisitions and improvements		967		—			967
Depreciation for the period		—		(71,358)			(71,358)
Impairment of vessel		(3,282)		—			(3,282)
Classification as asset held for sale		(34,859)		5,997			(28,862)
Balance as at December 31, 2017	$	1,738,515	$	(473,319)		$	1,265,196

All of the Partnership’s vessels as of December 31, 2017 have been provided as collateral to secure the Partnership’s credit facilities.

On October 24, 2016, the Partnership acquired the shares of the company owning the M/T Amor (Note 3). The Partnership accounted for this acquisition as an acquisition of business based on the existence of an integrated set of activities (inputs and processes that generate outputs). The vessel was recorded in the Partnership’s financial statements at its fair value of $31,600 as quoted by independent ship brokers at the time of its acquisition by the Partnership.

(b)	Vessels, net - Continued

On February 26, 2016, the Partnership acquired the shares of the company owning the M/V CMA CGM Magdalena for a total consideration of $81,500 which was funded by loan drawdown of $35,000 from the Partnership’s 2013 credit facility (Note 7) and the remaining balance of $46,500 by the Partnership’s cash. The Partnership accounted for this transaction as acquisition of an asset based on the absence of processes attached to the inputs. Other than the new-building and the attached time charter, no other inputs and no processes were acquired. The Partnership considered whether any value should be assigned to the attached charter party agreement acquired and concluded that the contracted daily charter rate was above the market rates on the transaction completion date and therefore, the total cost of $91,751, which comprised the purchase consideration of $81,500 and the fair value from the reset of the IDRs of $10,251,which was attributable to this vessel (Note 5a), was allocated to the vessel cost and the above market acquired charter. Thus the vessel was recorded in the Partnership’s financial statements at a cost of $88,545 and the above market acquired charter at a cost of $3,206 (Note 6).

During 2017, the M/V Agamemnon, the M/T Amore Mio II, the M/T Miltiadis M II, the M/T Ayrton II, the M/T Axios, the M/T Arionas, the M/T Avax, the M/T Assos, the M/T Amoureux and the M/T Atrotos underwent improvements. The costs of these improvements amounted to $967 and were capitalized as part of the vessels’ cost.

During 2016, the M/T Alkiviadis, the M/V Archimidis, the M/T Anemos I, the M/T Amore Mio II, the M/T Miltiadis M II and the M/T Arionas underwent improvements. The costs of these improvements amounted to $1,817 and were capitalized as part of the vessels’ cost.

(c)

Assets held for sale

An analysis of assets held for sale is as follows:

	Assets held for sale
Balance as at January 1, 2016	—
Vessel held for sale	28,862
Inventories	165
Balance as at December 31, 2017	29,027

On December 22, 2017 the Partnership entered into a Memorandum of Agreement (the “Agreement”) with an unrelated party for the disposal of the M/T Aristotelis at a price of $29,400. The Partnership decided to enter into this Agreement after receiving the Buyer’s purchase enquiry which was opportunistic in nature. Under this agreement the vessel can be delivered to its buyer by latest March 11, 2018. Upon entering the agreement the Partnership considered that M/T Aristotelis met the criteria to be classified as held for sale, as described in note 2(i), and measured the vessel at the lower of its carrying amount and fair value less the cost associated with the sale. In this respect, the Partnership recognized an impairment charge of $3,282 in its consolidated statement of comprehensive income for the year ended December 31, 2017. No assets were classified as held for sale as of December 31, 2016.

Above market acquired charters

12 Months Ended

Dec. 31, 2017

Above market acquired charters [Abstract]

Above market acquired charters

6. Above market acquired charters

On October 24, 2016 the Partnership acquired the shares of the company owning the M/T Amor from CMTC with outstanding time charters to Cargill and CMTC. The time charter with Cargill was above the market rate for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charter was estimated by the Partnership at $1,061 and recorded as an asset in the consolidated balance sheet as of the acquisition date (Note 3). The time charter with CMTC was equal to the market rate for equivalent time charters prevailing at the time of acquisition.

On February 26, 2016 the Partnership acquired the shares of the company owning the M/V CMA CGM Magdalena from CMTC with outstanding time charter to CMA-CGM S.A., which was above the market rate for equivalent time charters prevailing at the time of acquisition. The present value of the above market acquired time charter of $3,206 was determined as the difference between the time charter rate at which the vessel was fixed at and the market rate for comparable charters as provided by independent third parties on the acquisition date discounted at a WACC of approximately 7.5% and was recorded as an asset in the consolidated balance sheet as of the acquisition date.

For the years ended December 31, 2017, 2016 and 2015 revenues included a reduction of $15,208, $14,542 and $14,864 as amortization of the above market acquired charters, respectively.

An analysis of above market acquired charters is as follows:

Above market acquired charters Book Value

Carrying amount as at January 1, 2016	$	100,518
Acquisitions	$	4,267
Amortization	$	(14,542)
Carrying amount as at December 31, 2016	$	90,243
Amortization	$	(15,208)
Carrying amount as at December 31, 2017	$	75,035

As of December 31, 2017 the remaining carrying amount of unamortized above market acquired time charters was $75,035 and will be amortized in future years as follows:


For the twelve month period ended December 31,	Amount
2018	$	14,381
2019	$	14,381
2020	$	11,695
2021	$	8,418
2022	$	8,372
Thereafter	$	17,788

Total	$	75,035

Long-Term Debt

12 Months Ended

Dec. 31, 2017

Long-Term Debt [Abstract]

Long-Term Debt

7. Long-Term Debt

Long-term debt consists of the following:


	Bank loans	As of December 31, 2017		As of December 31, 2016		Margin
(i)	Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)		460,000		-	3.25%
(ii)	Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”)		15,750		15,750	2.50%
(iii)	Issued in March 2007 repaid in October 2017 (the “2007 credit facility”)		-		185,975	3.00%
(iv)	Issued in March 2008 repaid in October 2017 (the “2008 credit facility”)		-		181,641	3.00%
(v)	Issued in June 2011 fully repaid in October 2017 (the “2011 credit facility”)		-		14,000	3.25%
(vi)	Issued in September 2013 repaid in October 2017 (the “2013 credit facility”)		-		207,646	3.50%
	Total long-term debt	$	475,750	$	605,012
	Less: Deferred loan issuance costs		6,635		2,825
	Less: loan associated with vessel held for sale		14,781		-
	Total long-term debt, net	$	454,334	$	602,187
	Less: Current portion of long-term debt		52,057		40,534
	Add: Current portion of deferred loan issuance costs		1,543		966
	Long-term debt, net	$	403,820	$	562,619

On September 6, 2017, the Partnership entered into a new senior secured term loan facility for an aggregate principal amount of up to $460,000 with a syndicate of lenders led by HSH Nordbank AG and ING Bank N.V. On October 2, 2017, the Partnership fully repaid $14,000 outstanding under its 2011 credit facility, through available cash. On October 4, 2017, the Partnership fully repaid total indebtedness of $102,246 and the then outstanding indebtedness of the 2007 credit facility, the 2008 credit facility and the 2013 credit facility amounting to $460,000 was replaced by the 2017 credit facility. The 2017 credit facility is comprised of two tranches. Tranche A amounts to $259,000, is secured by 11 of the Partnership’s vessels and is required to be repaid in 24 equal quarterly instalments of $4,833 in addition to a balloon instalment of $143,008, which is payable together with the final quarterly instalment in the fourth quarter of 2023. Tranche B amounts to $201,000, is secured by 24 of the Partnership’s vessels and is required to be repaid fully in 24 equal quarterly instalments of $8,375. The Partnership started paying quarterly instalments under both tranches A and B on January 4, 2018. The loans drawn under the 2017 credit facility bear interest at LIBOR plus a margin of 3.25%.

During 2017, the Partnership classified the M/T Aristotelis as vessel held for sale (Note 5c). As of December 31, 2017, the part of the Tranche A of the 2017 credit facility which was associated with this vessel amounted to $14,781, is expected to be repaid in March 2018, and is presented as “Liability associated with vessel held for sale” in the accompanying consolidated balance sheet.

On October 24, 2016, upon the completion of the acquisition of the shares of the company owning the M/T Amor (Notes 3, 5), the Partnership assumed CMTC’s guarantee with respect to the outstanding balance of $15,750 under the term loan that was entered into on November 19, 2015 with ING Bank N.V. The term loan is payable in 17 consecutive equal quarterly instalments starting two years after the vessel’s acquisition plus a balloon payment with expected maturity date in November 2022. The term loan bears interest at LIBOR plus a margin of 2.50%.

On February 23, 2016, the Partnership drew the amount of $35,000 from its 2013 credit facility in order to partly finance the acquisition of the shares of the company owning the M/V CMA CGM Magdalena (Note 5).

During 2017 and 2016, the Partnership repaid the amount of $13,016 and $17,354, respectively, in line with the amortization schedule of its 2013 credit facility.

The Partnership’s credit facilities contain customary ship finance covenants, including restrictions as to changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness and the mortgaging of vessels and requirements such as, the ratio of EBITDA to Net Interest Expenses to be no less than 2:1, a minimum cash requirement of $500 per vessel, the ratio of net Total Indebtedness to the Total Assets of the Partnership adjusted for the Market Value of the fleet not to exceed 0.75:1 for the 2017 credit facility and the ratio of net Total Indebtedness to the aggregate Market Value of the fleet not to exceed 0.725:1 for the 2015 credit facility. As of December 31, 2017 and 2016, restricted cash amounted to $18,000 for each year and is presented under other non-current assets. The credit facilities also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% for the 2017 credit facility and 120% for the 2015 credit facility, of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2017 and 2016 the Partnership was in compliance with all financial covenants.

The credit facilities have a general assignment of the earnings, insurances and requisition compensation of the respective collateral vessel or vessels. Each also requires additional security, such as pledge and charge on current accounts and mortgage interest insurance.

As of December 31, 2017 there were no undrawn amounts under the Partnership’s credit facilities.

For the years ended December 31, 2017, 2016 and 2015, the Partnership recorded interest expense of $24,782, $22,674 and $17,856 respectively which is included in “Interest expense and finance cost” in the consolidated statements of comprehensive income. For the years ended December 31, 2017 and 2016 the weighted average interest rate of the Partnership’s loan facilities was 4.29% and 3.73% respectively.

The required annual loan payments to be made subsequent to December 31, 2017 are as follows:


	2017 Credit Facility (i)		2015 Credit Facility (ii)		Total
2018	$	66,510	$	328	$	66,838
2019		51,729		1,313		53,042
2020		51,729		1,313		53,042
2021		51,729		1,313		53,042
2022		51,729		11,483		63,212
Thereafter		186,574		-		186,574

Total	$	460,000	$	15,750	$	475,750

Financial Instruments

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Financial Instruments

8. Financial Instruments

(a) 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;

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

The carrying value of cash and cash equivalents and restricted cash, which are considered Level 1 items as they represent liquid assets with short-term maturities, trade receivables, amounts due from related parties and due to related parties, trade accounts payable and accrued liabilities approximates their fair value. The fair values of long-term variable rate bank loans approximate the recorded values, due to their variable interest being the LIBOR and due to the fact the lenders have the ability to pass on their funding cost to the Partnership under certain circumstances, which reflects their current assessed risk. We believe the terms of our loans are similar to those that could be procured as of December 31, 2017. LIBOR rates are observable at commonly quoted intervals for the full terms of the loans and hence bank loans are considered Level 2 items in accordance with the fair value hierarchy.

The following table summarizes the valuation of the Company's assets measured at fair value on a non-recurring basis as of December 31, 2017:

Items Measured at Fair Value on a Nonrecurring Basis - Fair Value Measurements
	Quoted prices in active markets for identical assets	Significant other observable inputs	Unobservable Inputs
Non – Recurring Measurements:	Level 1	Level 2	Level 3	Loss
Long-lived assets classified as held for sale	$-	$29,400	$-	$3,282

As of December 22, 2017 the vessel M/T Aristotelis with a carrying amount of $32,144, was classified as vessel held for sale and written down to its fair value of $29,400, less estimated costs to sell, resulting in a loss of $3,282 (Note 5c), which was included in the accompanying consolidated statements of comprehensive income under impairment of vessel. The fair value of M/T Aristotelis was based on its transaction price, as the sale price was agreed with an unaffiliated third party hence it is considered level 2.

(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. The Partnership places its cash and cash equivalents, consisting mostly of deposits, with creditworthy financial institutions rated by qualified rating agencies. A limited number of financial institutions hold the Partnership’s cash. Most of the Partnership’s revenues were derived from a few charterers. For the year ended December 31, 2017 Petroleo Brasileiro S.A. (“Petrobras”), CMTC, Hyundai Merchant Marine Co Ltd (“HMM”) and CMA CGM accounted for 19%, 18%, 18% and 17% of the Partnership’s total revenue, respectively. For the year ended December 31, 2016 HMM, Petrobras, CMA CGM and CMTC accounted for 19%, 18%, 17% and 15% of the Partnership’s total revenue, respectively. For the year ended December 31, 2015 CMTC and HMM accounted for 29% and 21% of the Partnership’s total revenue, respectively.

Accrued Liabilities

12 Months Ended

Dec. 31, 2017

Accrued Liabilities [Abstract]

Accrued Liabilities

9. Accrued Liabilities

Accrued liabilities consist of the following:


	As of December 31,
	2017		2016
Accrued loan interest and loan fees	$	5,221	$	114
Accrued operating expenses		5,199		4,360
Accrued voyage expenses and commissions		3,521		2,453
Accrued general and administrative expenses		1,170		934
Total	$	15,111	$	7,861

Voyage Expenses and Vessel Operating Expenses

12 Months Ended

Dec. 31, 2017

Voyage Expenses and Vessel Operating Expenses [Abstract]

Voyage Expenses and Vessel Operating Expenses

10. Voyage Expenses and Vessel Operating Expenses

Voyage expenses and vessel operating expenses consist of the following:


	For the years ended December 31,
	2017		2016		2015
Voyage expenses:
Commissions	$	4,440	$	4,816	$	4,421
Bunkers		4,726		2,601		1,753
Port expenses		3,593		892		259
Other		2,406		1,971		457
Total	$	15,165	$	10,280	$	6,890
Vessel operating expenses:
Crew costs and related costs	$	43,699	$	37,342	$	31,788
Insurance expense		5,035		5,772		5,004
Spares, repairs, maintenance and other expenses		12,731		11,688		11,521
Stores and lubricants		7,937		8,203		7,790
Management fees (Note 4)		11,491		10,661		11,219
Vetting, insurances, spares and repairs (Note 4)		138		205		489
Other operating expenses		5,114		3,632		2,522
Total	$	86,145	$	77,503	$	70,333

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2017
Income Taxes [Abstract]
Income Taxes	11. Income Taxes Under the laws of the Marshall Islands and Liberia, the country in which the vessel-owning subsidiaries were incorporated, these companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes in the country in which the vessels are registered and managed from, which have been included in vessel operating expenses in the accompanying consolidated statements of comprehensive 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, time, bareboat charter) earned by the foreign corporation and (b) more than 50% of the voting power and value of the foreign corporation’s stock is “primarily and regularly traded on an established securities market” in the United States and certain other requirements are satisfied (the “Publicly-Traded Test”). The jurisdictions where the Partnership’s vessel-owning subsidiaries are incorporated each grants an “equivalent exemption” to United States corporations with respect to each type of shipping income earned by the Partnership’s vessel-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be established securities market. The Partnership has satisfied the Publicly-Traded Test for the years ended December 31, 2017, 2016 and 2015 and the ship-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income.

Partners' Capital

12 Months Ended

Dec. 31, 2017

Partners' Capital [Abstract]

Partners' Capital

12. Partners’ Capital

General: The partnership agreement requires that within 45 days after the end of each quarter, beginning with the quarter ending June 30, 2007, all of the Partnership’s available cash will be distributed to unitholders.

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

•

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 unitholders 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 limited partnership agreement.

General Partner Interest and IDRs: The general partner has a 1.71% interest in the Partnership 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. The Partnership’s general partner as of December 31, 2017, 2016 and 2015 holds the IDRs.

According to the partnership agreement, as amended in 2014, the following table illustrates the percentage allocations of the additional available cash from operating surplus among the unitholders and general partner up to the various target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of the unitholders and general partner in any available cash from operating surplus that is being distributed up to and including the corresponding amount in the column “Total Quarterly Distribution Target Amount 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 unitholders 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 incentive distribution rights.


	Total Quarterly	Marginal Percentage Interest in Distributions
	Distribution Target Amount per Unit	Unitholders			General Partner
Minimum Quarterly Distribution	$0.2325		98	%		2	%
First Target Distribution	up to $0.2425		98	%		2	%
Second Target Distribution	above $0.2425 up to $0.2675		85	%		15	%
Third Target Distribution	above $0.2675 up to $0.2925		75	%		25	%
Thereafter	above $0.2925		65	%		35	%

Following the 2014’s annual general meeting, CMTC unilaterally notified the Partnership that it has decided to waive its rights to receive quarterly incentive distributions between $0.2425 and $0.25. This waiver effectively increases the First Threshold and the lower band of the Second Threshold (as referenced in the table above) from $0.2425 to $0.25.

Distributions of Available Cash from Operating Surplus: Our partnership agreement requires that we will make distributions of available cash from operating surplus for any quarter after the subordination period in the following manner:

•

first, 98% to all unitholders, pro rata, and 2.0% to our general partner, until we distribute for each outstanding unit an amount equal to the minimum quarterly distribution for that quarter; and

•

thereafter, in the manner described in the above table.

Class B Convertible Preferred Units

During 2012 and 2013 the Partnership issued in total 24,655,554 Class B Convertible Preferred Units to a group of investors including CMTC according to two separate Class B Convertible Preferred Unit Subscription Agreements (the “Agreements”) that the Partnership had entered with this group of investors in 2012 and 2013. The holders of the Class B Convertible Preferred Units have the right to convert all or a portion of such Class B Convertible Preferred Units at any time into Common Units at the conversion price of $9 per Class B Convertible Preferred Unit and a conversion rate of one Common Unit per one Class B Convertible Preferred Unit. The Conversion Ratio and the Conversion Price shall be adjusted upon the occurrence of certain events described in the limited partnership agreement. Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (“VWAP”) and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the “Partnership Mandatory Conversion Event”) the Partnership acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full board of directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio. The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership’s board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to the Agreements in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day. No distribution on the Class B Convertible Preferred Units shall be authorized by the board of directors or declared or paid or set apart for payment by the Partnership at such time as the terms and provisions of any agreement of the Partnership, including any agreement relating to its indebtedness, prohibits such authorization, declaration, payment or setting apart for payment or provides that such authorization, declaration, payment or setting apart for payment would constitute a breach thereof, or a default thereunder, or if such authorization, declaration, payment or setting apart for payment shall be restricted or prohibited by law. The foregoing distributions with respect to the Class B Convertible Preferred Units shall accumulate as of the Class B Convertible Preferred Unit distribution payment date on which they first become payable whether or not any of the foregoing restrictions exist, whether or not there is sufficient Available Cash for the payment thereof and whether or not such distributions are authorized. A cumulative Class B Convertible Preferred Unit arrearage shall not bear interest and holders of the Class B Convertible Preferred Units shall not be entitled to any distributions, whether payable in cash, property or Partnership Interests, in excess of the then cumulative Class B Convertible Preferred Unit arrearage plus the minimum quarterly Class B Convertible Preferred Unit distribution rate for such quarter. With respect to Class B Convertible Preferred Units that are converted into Common Units, the holder thereof shall not be entitled to a Class B Convertible Preferred Unit distribution and a Common Unit distribution with respect to the same period, but shall be entitled only to the distribution to be paid based upon the class of Units held as of the close of business on the record date for the distribution in respect of such period; provided, however, that the holder of a converted Class B Convertible Preferred Unit shall remain entitled to receive any accrued but unpaid distributions due with respect to such Unit on or as of the prior Class B Convertible Preferred Unit distribution payment date; and provided, further, that if the Partnership exercises the Partnership Mandatory Conversion Right to convert the Class B Convertible Preferred Units pursuant to this Agreements then the holders’ rights with respect to the distribution for the Quarter in which the Partnership Mandatory Conversion Notice is received is as set forth in the limited partnership agreement.

During 2015 various holders of Class B Convertible Preferred Units including CMTC converted 1,240,404 Class B Convertible Preferred Units into common units. As a result in the Partnership’s Consolidated Statements of Changes in Partners’ Capital, the Partnership’s Limited Partners-Preferred Unitholders decreased by $10,642 and Partnership’s Limited Partners-Common Unitholders, increased by $10,642 for the year ended December 31, 2015. The conversion rate was one common unit per one Class B Convertible Preferred Unit. During 2017 and 2016 no such conversion occurred.

Common Units

On October 24, 2016, the Partnership issued 283,696 common units according to the terms of the share purchase agreement that the Partnership entered into with CMTC in order to partly finance the acquisition of the shares of the vessel owning company of M/T Amor (Notes 3, 5).

In September 2016, the Partnership entered into an equity distribution agreement with UBS Securities LLC (“UBS”) under which the Partnership may sell, from time to time, through UBS, as its sales agent, new common units having an aggregate offering amount of up to $50,000 (the “ATM offering”). The equity distribution agreement provides that UBS, when it is acting as the Partnership’s sales agent, will be entitled to compensation of up to 2% of the gross sales price of the common units sold through UBS from time to time. During 2017 the Partnership issued 5,152,059 new common units under the ATM offering resulting in net proceeds of $17,815 after the payment of commission to the sales agent, but before offering expenses. For the year ended December 31, 2017, the Partnership recognized offering expenses of $176 in connection with the ATM offering. Since the launch of the ATM offering until December 31, 2016, the Partnership issued 1,401,481 new common units resulting in net proceeds of $4,546 after the payment of commission to the sales agent, but before offering expenses. For the year ended December 31, 2016, the Partnership recognized offering expenses of $890 in connection with the ATM offering.

During 2015 CMTC converted 315,908 common units into general partner units respectively, in order for CGP to maintain its 2% interest in the Partnership. As a result in the Partnership’s Consolidated Statements of Changes in Partners’ Capital the Partnership’s Limited Partners-Common Unitholders decreased by $2,742 and General Partner increased by $2,742 for the years ended December 31, 2015. During 2017 and 2016 CMTC did not convert any common units into general partners units.

In December 2015, the Partnership issued 850,000 common units under its Omnibus Incentive Compensation Plan (Note 13).

In April 2015, the Partnership completed successfully a follow-on equity offering of 14,555,000 common units, including 1,100,000 common units sold to CMTC and 1,755,000 common units representing the overallotment option at a net price of $9.53 per common unit, receiving proceeds of $133,327 after the deduction of the underwriters’ commissions. After the deduction of expenses relating to this equity offering, the net proceeds amounted to $132,588.

As of December 31, 2017 and 2016 our partners’ capital included the following units:


	As of December 31, 2017		As of December 31, 2016
Common units		127,246,692		122,094,633
General partner units		2,439,989		2,439,989
Preferred units		12,983,333		12,983,333

Total partnership units		142,670,014		137,517,955

Omnibus Incentive Compensation Plan

12 Months Ended

Dec. 31, 2017

Omnibus Incentive Compensation Plan [Abstract]

Omnibus Incentive Compensation Plan

13. Omnibus Incentive Compensation Plan

On April 29, 2008, the board of directors approved the Partnership’s Plan according to which the Partnership may issue a limited number of awards, not to exceed 500,000 units. The Plan was amended on July 22, 2010 increasing the aggregate number of restricted units issuable under the Plan to 800,000 which was then increased to 1,650,000 common units on August 21, 2014, at the annual general meeting of the Partnership’s unit holders. The Plan is administered by the general partner as authorized by the board of directors. The persons eligible to receive awards under the Plan are officers, directors, and executive, managerial, administrative and professional employees of the Manager, or CMTC, or other eligible persons (collectively, “key persons”) as the general partner, in its sole discretion, shall select based upon such factors as it deems relevant. Members of the board of directors and officers of the general partner are considered to be employees of the Partnership (“Employees”) for the purposes of recognition of equity compensation expense, while employees of the Manager, CMTC and other eligible persons under the plan are not considered to be employees of the Partnership (“Non-Employees”). Awards may be made under the Plan in the form of incentive stock options, non-qualified stock options, stock appreciation rights, dividend equivalent rights, restricted stock, unrestricted stock, restricted stock units and performance shares.

On December 23, 2015 the Partnership awarded 240,000 and 610,000 unvested units to Employees and Non-Employees, respectively. Awards granted to certain Employees and Non Employees will vest in three annual instalments. The remaining awards will vest on December 31, 2018.

All unvested units are conditional upon the grantee’s continued service as Employee and/or Non-Employee until the applicable vesting date.

The unvested units accrue distributions as declared and paid which 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 Partner’s capital. As of December 31, 2017 the unvested units accrued $427 of distributions.

The following table contains details of our plan:


	Employee equity compensation				Non-Employee equity compensation
Unvested Units	Units		Grant-date fair value		Units		Award- date fair value
Unvested on January 1, 2016		240,000	$	1,325		610,000	$	3,367
Vested		33,332		184		117,500		374
Unvested on December 31, 2016		206,668	$	1,141		492,500	$	2,993
Vested		36,666		202		117,500		395

Unvested on December 31, 2017		170,002	$	939		375,000	$	2,598

For the years ended December 31, 2017, 2016, and 2015 the equity compensation expense that has been charged in the consolidated statements of comprehensive income was $438, $439 and $10 for the Employee awards and $718, $635 and $24 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses in the consolidated statements of comprehensive income for each respective year.

As of December 31, 2017 the total compensation cost related to non vested awards is $1,111 and is expected to be recognized over a weighted average period of one year. The Partnership uses the straight-line method to recognize the cost of the awards.

Net Income Per Unit

12 Months Ended

Dec. 31, 2017

Net Income Per Unit [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). The Partnership excluded the effect of the 12,983,333 Class B Convertible Preferred Units in calculating dilutive EPU as of December 31, 2017, 2016 and 2015, for each year as they were anti-dilutive.

As of December 31, 2017, 2016 and 2015 the Partnership excluded the effect of 545,002, 699,168 and 850,000, respectively, non-vested unit awards in calculating dilutive EPU for its common unitholders as they were anti-dilutive. The non-vested units are participating securities because they received distributions from the Partnership and these distributions do not have to be returned to the Partnership if the non-vested units are forfeited by the grantee.

The Partnership’s net income for the years ended December 31, 2017, 2016 and 2015 did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP’s interest in net income.

The two class method used to calculate EPU is as follows:


BASIC AND DILUTED	2017		2016		2015
Numerators
Partnership’s net income	$	38,483	$	52,489	$	55,410
Less:
Preferred unit holders’ interest in Partnership’s net income		11,101		11,101		11,334
General Partner’s interest in Partnership’s net income		522		818		879
Partnership’s net income allocable to unvested units		135		285		8
Common unit holders’ interest in Partnership’s net income	$	26,725	$	40,285	$	43,189
Denominators
Weighted average number of common units outstanding, basic and diluted		123,845,345		119,803,329		115,030,879
Net income per common unit:
Basic and Diluted	$	0.22	$	0.34	$	0.38

Hyundai Merchant Marine Co. Ltd ("HMM") charters restructuring	12 Months Ended
	Dec. 31, 2017
Hyundai Merchant Marine Co. Ltd ("HMM") charters restructuring [Abstract]
Hyundai Merchant Marine Co. Ltd ("HMM") charters restructuring	15. HMM charters restructuring HMM, the charterer of five of the Partnership’s vessels, namely Hyundai Prestige, Hyundai Premium, Hyundai Paramount, Hyundai Privilege and Hyundai Platinum (the “HMM Vessels”), each under time charter expiring for Hyundai Prestige in 2024 and for the remaining four vessels in 2025, experienced financial difficulties and pursued a financial restructuring involving various creditors and vessel owners. As part of the various agreements that HMM reached with its creditors and vessel owners under its voluntary debt restructuring, the owning companies of the HMM Vessels entered into a Charter Restructuring Agreement on July 15, 2016. This agreement provides for the reduction of the gross charter rate payable under the respective charter parties by 20% to $23.5 per day from $29.4, for a three and a half year period starting in July 2016 and ending in December 2019 (the “Charter Reduction Period”). As compensation the Partnership received 4,398,910 HMM common shares on August 4, 2016, which the Partnership recognized as a “Trading asset” at the amount of $29,706 being the fair value of the shares with a corresponding “Deferred revenue, current” and “Deferred revenue” to be amortized within revenue over the remaining duration of each time charter. The shares were immediately sold on the Stock Market Division of the Korean Exchange for aggregate cash consideration of $29,706. The Charter Restructuring Agreement further provides that at the end of the Charter Reduction Period, the charter rate under the respective charter parties will be restored to the original daily rate of $29.4 until the expiry of each charter in 2024 and 2025.

Commitments and Contingencies

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies [Abstract]

Commitments and Contingencies

16. Commitments and Contingencies

Various claims, suits, and complaints, including those involving government regulations and product liability, arise in the ordinary course of the shipping business. In addition, losses may arise from disputes with charterers, agents, insurance and other claims with suppliers relating to the operations of the Partnership’s vessels. The Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the accompanying consolidated financial statements.

The Partnership accrues for the cost of environmental liabilities when management becomes aware that a liability is probable and is able to reasonably estimate the probable exposure. Currently, the Partnership is not aware of any such claims or contingent liabilities, which should be disclosed, or for which a provision should be established in the consolidated financial statements.

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

•

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.

(a)

Lease Commitments: Future minimum charter hire receipts, excluding any profit share revenue that may arise, based on non-cancellable long-term time and bareboat charter contracts, as of December 31, 2017 were:



Year ended December 31,	Amount
2018	$	156,343
2019		106,422
2020		87,617
2021		54,584
2022		53,564
Thereafter		111,647

Total	$	570,177

Subsequent Events

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

17. Subsequent Events

(a)	Dividends: On January 17, 2018, the board of directors of the Partnership declared a cash distribution of $0.08 per common unit for the fourth quarter of 2017. The fourth quarter common unit cash distribution was paid on February 13, 2018, to unit holders of record on February 2, 2018.

(b)

Dividends: On January 17, 2018, the board of directors of the Partnership declared a cash distribution of $0.21375 per Class B unit for the fourth quarter of 2017. The cash distribution was paid on February 9, 2018, to Class B unit holders of record on February 2, 2018.

(c)

Acquisition of vessels:

On January 17, 2018 the Partnership acquired the eco-type crude tanker Aristaios (113,689 dwt, Ice Class 1C, built 2017, Daehan Shipbuilding Co. Ltd., S.Korea) for a total consideration of $52,500 from CMTC. The M/T Aristaios is currently employed under a time charter to Tesoro Far East Maritime Company (‘Tesoro’) at a gross daily rate of $26.4. The Tesoro charter commenced in January 2017 with duration of five years +/-45 days. The Partnership financed the acquisition with $24,167 in cash and the assumption of a $28,333 term loan under a credit facility previously arranged by CMTC with Credit Agricole Corporate and Investment Bank and ING Bank NV. The term loan bears interest at LIBOR plus a margin of 2.85% and is payable in twelve consecutive semi-annual instalments of approximately $917 beginning in July 2018, plus a balloon payment payable together with the last semi-annual instalment due in January 2024. The term loan is subject to ship finance covenants similar to the covenants applicable under our existing facilities.

On January 22, 2018, the Partnership agreed to acquire, conditional upon the successful completion of the sale of the M/T Aristotelis, the M/T Anikitos an eco-type MR product tanker (50,082 dwt IMO II/III Chemical Product Tanker built 2016, Samsung Heavy Industries (Ningbo) Co., Ltd.) for a total consideration of $31,500, from CMTC. The M/T Anikitos is currently employed under a time charter, at a gross daily rate of $15.3 with earliest charter expiry in June 2020. The charterer has the option to extend the time charter for eighteen months (+/-30 days) at the same gross daily rate. The Partnership intents to fund the acquisition through the net proceeds to be received from the sale of M/T Aristotelis, available cash and the assumption of a term loan under our “2015 credit facility” (see Note 7), previously arranged by CMTC with ING Bank NV at an amount representing approximately 50% of the vessel’s charter free market value at the time of the dropdown. The term loan is non-amortizing for a period of two years from the anniversary of the dropdown with an expected final maturity date in June 2023 and bears interest at LIBOR plus a margin of 2.50%. The Partnership expects to take delivery of M/T Anikitos in March 2018, following the delivery of the M/T Aristotelis to its new owner.

Significant Accounting Policies (Policy)

12 Months Ended

Dec. 31, 2017

Significant Accounting Policies [Abstract]

Principles of Consolidation:

(a)

Use of Estimates:

(b)

Accounting for Revenue, Voyage and Operating Expenses:

(c)

Vessel operating expenses presented in the consolidated financial statements mainly consist of:

•

Management fees payable to the Partnership’s manager, Capital Ship Management Corp. (the “Manager” or “CSM”) under three different types of Management agreements (Note 4); and

•

Actual operating expenses, such as crewing, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses.

Vessel operating expenses are expensed as incurred.

Foreign Currency Transactions:

(d)

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, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash.

Trade Accounts Receivable, Net:

(g)

Inventories:

(h)

Vessels Held for Sale:

Fixed Assets:

Impairment of Long-Lived Assets:

(k)

Deferred charges, net:

(l)

Intangible assets:

Net Income Per Limited Partner Unit:

(n)

Segment Reporting:

(o)

Omnibus Incentive Compensation Plan:

(p)

Recent Accounting Pronouncements:

(q)

Basis of Presentation and General Information (Tables)

12 Months Ended

Dec. 31, 2017

Basis of Presentation and General Information [Abstract]

List of Subsidiaries

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”)

Capital Product Operating LLC

01/16/2007

—

Crude Carriers Corp.

10/29/2009

—

09/30/2011

—

Crude Carriers Operating Corp.

01/21/2010

—

09/30/2011

—

Shipping Rider Co.

09/16/2003

M/T Atlantas II

36,760

04/04/2007

04/26/2006

Canvey Shipmanagement Co.

03/18/2004

M/T Assos

47,872

08/16/2010

04/04/2007

05/17/2006

Centurion Navigation Limited

08/27/2003

M/T Aktoras

(M/T British Envoy)

36,759

04/04/2007

07/12/2006

Polarwind Maritime S.A.

10/10/2003

M/T Agisilaos

36,760

04/04/2007

08/16/2006

Carnation Shipping Company

11/10/2003

M/T Arionas

36,725

04/04/2007

11/02/2006

Apollonas Shipping Company

02/10/2004

M/T Avax

47,834

04/04/2007

01/12/2007

Tempest Maritime Inc.

09/12/2003

M/T Aiolos

(M/T British Emissary)

36,725

04/04/2007

03/02/2007

Iraklitos Shipping Company

02/10/2004

M/T Axios

47,872

04/04/2007

02/28/2007

Epicurus Shipping Company

02/11/2004

M/T Atrotos

47,786

03/01/2010

05/08/2007

Laredo Maritime Inc.

02/03/2004

M/T Akeraios

47,781

07/13/2007

Lorenzo Shipmanagement Inc.

05/26/2004

M/T Apostolos

47,782

09/20/2007

Splendor Shipholding S.A.

07/08/2004

M/T Anemos I

47,782

09/28/2007

Ross Shipmanagement Co.

12/29/2003

M/T Attikos

12,000

09/24/2007

01/20/2005

Sorrel Shipmanagement Inc.

02/07/2006

M/T Alexandros II

(M/T Overseas Serifos)

51,258

01/29/2008

Baymont Enterprises Incorporated

05/29/2007

M/T Amore Mio II

159,982

03/27/2008

07/31/2007

Forbes Maritime Co.

02/03/2004

M/T Aristofanis

12,000

04/30/2008

06/02/2005

Wind Dancer Shipping Inc.

02/07/2006

M/T Aristotelis II

(M/T Overseas Sifnos)

51,226

06/17/2008

Belerion Maritime Co.

01/24/2006

M/T Aris II

(M/T Overseas Kimolos)

51,218

08/20/2008

Mango Finance Corp.

07/14/2006

M/T Agamemnon II

51,238

04/07/2009

11/24/2008

Navarro International S.A.

07/14/2006

M/T Ayrton II

51,260

04/13/2009

04/10/2009

Adrian Shipholding Inc.

06/22/2004

M/T Alkiviadis

36,721

06/30/2010

03/29/2006

Patroklos Marine Corp.

06/17/2008

M/V Cape Agamemnon

179,221

06/09/2011

01/25/2011

Cooper Consultants Co. renamed to Miltiadis M II Carriers Corp.

04/06/2006

M/T Miltiadis M II

162,397

09/30/2011

04/26/2006

Amoureux Carriers Corp.

04/14/2010

M/T Amoureux

149,993

09/30/2011

—

Aias Carriers Corp.

04/14/2010

M/T Aias

150,393

09/30/2011

—

Agamemnon Container Carrier Corp.

04/19/2012

M/V Agamemnon

108,892

12/22/2012

06/28/2012

Archimidis Container Carrier Corp.

04/19/2012

M/V Archimidis

108,892

12/22/2012

06/22/2012

Aenaos Product Carrier S.A.

10/16/2013

M/T Aristotelis

51,604

11/28/2013

—

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

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

Miltiadis M II Corp.

08/28/2012

—

Dias Container Carrier S.A

05/16/2013

M/V Akadimos
(renamed to “CMA
CGM Amazon”) (1)

115,534

06/10/2015

Poseidon Container Carrier S.A

05/16/2013

M/V Adonis (renamed to
“CMA CGM
Uruguay”) (1)

115,639

09/18/2015

Isiodos Product Carrier S.A

05/31/2013

M/T Active (1)

50,136

03/31/2015

Titanas Product Carrier S.A

05/31/2013

M/T Amadeus (1)

50,108

06/30/2015

Atrotos Container Carrier S.A

10/25/2013

M/V Anaxagoras
(renamed to “CMA
CGM Magdalena”) (1)

115,639

02/26/2016

Filonikis Product Carrier S.A

05/31/2013

M/T Amor

49,999

10/24/2016

09/30/2015

(1)	Vessels that were acquired according to the terms of the Master Vessel Acquisition Agreement (“Master Agreement”) (Note 5).

Acquisitions (Tables) - Filonikis Product Carrier S.A.

12 Months Ended

Dec. 31, 2017

Business Acquisition [Line Items]

Purchase price allocation


	As of October 24, 2016
Vessel	$	31,600
Above market acquired time charters	$	1,061

Identifiable assets	$	32,661

Loan	$	(15,750	)

Net assets acquired	$	16,911

Purchase price	$	(16,911	)

Identifiable intangible assets

Intangible

assets

As of

October 24,

2016

Duration of

time charters

acquired

Above market acquired time charter

1,061

1 year

Unaudited Pro Forma Financial Information


	For the year ended December 31,
	2016		2015
Total revenues	$	245,825	$	221,638
Partnership’s net income	$	53,677	$	55,430
Preferred unit holders’ interest in Partnership’s net income	$	11,101	$	11,334
General Partner’s interest in Partnership’s net income	$	850	$	881
Common unit holders interest in Partnership’s net income	$	41,726	$	43,215
Net income per common unit basic and diluted	$	0.35	$	0.38

Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2017

Transactions with Related Parties [Abstract]

Balances and Transactions with Related Parties


Consolidated Balance Sheets	As of December 31, 2017		As of December 31, 2016

Liabilities:
Manager – payments on behalf of the Partnership (a)	$	13,218	$	15,126
Management fee payable to CSM (b)		1,016		969

Due to related parties	$	14,234	$	16,095
Deferred revenue – current (e)		2,829		2,925

Total liabilities	$	17,063	$	19,020


	For the year ended December 31,
Consolidated Statements of Income	2017		2016		2015
Revenues (c)	$	44,653	$	36,026	$	63,731
Voyage expenses		-		360		411
Vessel operating expenses		11,629		10,866		11,708
General and administrative expenses (d)		1,983		2,076		2,569

Charter Agreements


Vessel Name	Time Charter (TC) in years	Commencement of Charter	Termination or earliest expected redelivery	Gross (Net) Daily Hire Rate
M/T Agisilaos	1.0	09/2015	06/2016	$14.5 ($14.3)
M/T Arionas	1.2	12/2014	01/2016	$15.0 ($14.8)
M/T Arionas	1.0	01/2017	02/2018	$11.0 ($10.9)
M/T Amore Mio II	0.9	08/2016	09/2017	$21.0 ($20.7)
M/T Akeraios	2.0	03/2015	04/2016	$15.6 ($15.4)
M/T Apostolos	2.0	04/2015	01/2016	$15.6 ($15.4)
M/T Anemos I	1.0	06/2015	01/2016	$17.3 ($17.0)
M/T Aristotelis	1.1 to 1.3	12/2015	12/2016	$19.0 ($18.8)
M/T Aristotelis	1.0	01/2017	02/2018	$13.8 ($13.6)
M/T Ayrton II	2.0	02/2016	02/2018	$18.0 ($17.8)
M/T Miltiadis M II	0.6	09/2015	05/2016	$35.0 ($34.6)
M/T Miltiadis M II	0.9	08/2016	08/2017	$25.0 ($24.7)
M/T Miltiadis M II	0.8 to 1.0	10/2017	08/2018	$18.0 ($18.0)
M/T Amadeus	2.0	06/2015	08/2017	$17.0 ($16.8)
M/T Atlantas II	1.0	10/2016	12/2017	$13.0 ($12.8)
Μ/Τ Amoureux	1.0	04/2017	03/2018	$22.0 ($22.0)
M/T Aktoras	0.8 to 1.0	09/2017	01/2018	$11.0 ($10.9)
M/T Aiolos	0.8 to 1.0	09/2017	07/2018	$11.0 ($10.9)
M/T Amor	0.2	09/2017	01/2018	$14.0 ($13.8)

Fixed assets and assets held for sale (Tables)

12 Months Ended

Dec. 31, 2017

Property Plant And Equipment [Abstract]

Advances for vessels under construction - related party


	Advances for vessels under construction – related party

Balance as at December 31, 2015	$	18,172

Additions		—
Transfer to vessels		(18,172	)

Balance as at December 31, 2016	$	—

Vessels, net


	Vessel Cost		Accumulated depreciation			Net book value
Balance as at January 1, 2016	$	1,653,727	$	(338,242	)	$	1,315,485
Acquisitions and improvements		103,790		—			103,790
Transfer from Advances for vessels under construction-related party		18,172		—			18,172
Depreciation for the period		—		(69,716)			(69,716)

Balance as at December 31, 2016	$	1,775,689	$	(407,958	)	$	1,367,731
Acquisitions and improvements		967		—			967
Depreciation for the period		—		(71,358)			(71,358)
Impairment of vessel		(3,282)		—			(3,282)
Classification as asset held for sale		(34,859)		5,997			(28,862)
Balance as at December 31, 2017	$	1,738,515	$	(473,319)		$	1,265,196

Assets held for sale

	Assets held for sale
Balance as at January 1, 2016	—
Vessel held for sale	28,862
Inventories	165
Balance as at December 31, 2017	29,027

Above market acquired charters (Tables)

12 Months Ended

Dec. 31, 2017

Above market acquired charters [Abstract]

Above market acquired charters

Above market acquired charters Book Value

Carrying amount as at January 1, 2016	$	100,518
Acquisitions	$	4,267
Amortization	$	(14,542)
Carrying amount as at December 31, 2016	$	90,243
Amortization	$	(15,208)
Carrying amount as at December 31, 2017	$	75,035

Above market acquired charter future amortization expense


For the twelve month period ended December 31,	Amount
2018	$	14,381
2019	$	14,381
2020	$	11,695
2021	$	8,418
2022	$	8,372
Thereafter	$	17,788

Total	$	75,035

Long-Term Debt (Tables)

12 Months Ended

Dec. 31, 2017

Long-Term Debt Covenants [Abstract]

Bank Loans


	Bank loans	As of December 31, 2017		As of December 31, 2016		Margin
(i)	Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)		460,000		-	3.25%
(ii)	Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”)		15,750		15,750	2.50%
(iii)	Issued in March 2007 repaid in October 2017 (the “2007 credit facility”)		-		185,975	3.00%
(iv)	Issued in March 2008 repaid in October 2017 (the “2008 credit facility”)		-		181,641	3.00%
(v)	Issued in June 2011 fully repaid in October 2017 (the “2011 credit facility”)		-		14,000	3.25%
(vi)	Issued in September 2013 repaid in October 2017 (the “2013 credit facility”)		-		207,646	3.50%
	Total long-term debt	$	475,750	$	605,012
	Less: Deferred loan issuance costs		6,635		2,825
	Less: loan associated with vessel held for sale		14,781		-
	Total long-term debt, net	$	454,334	$	602,187
	Less: Current portion of long-term debt		52,057		40,534
	Add: Current portion of deferred loan issuance costs		1,543		966
	Long-term debt, net	$	403,820	$	562,619

Required Annual Loan Payments


	2017 Credit Facility (i)		2015 Credit Facility (ii)		Total
2018	$	66,510	$	328	$	66,838
2019		51,729		1,313		53,042
2020		51,729		1,313		53,042
2021		51,729		1,313		53,042
2022		51,729		11,483		63,212
Thereafter		186,574		-		186,574

Total	$	460,000	$	15,750	$	475,750

Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2017

Financial Instruments [Abstract]

Fair value measurements on a Nonrecurring Basis

Items Measured at Fair Value on a Nonrecurring Basis - Fair Value Measurements
	Quoted prices in active markets for identical assets	Significant other observable inputs	Unobservable Inputs
Non – Recurring Measurements:	Level 1	Level 2	Level 3	Loss
Long-lived assets classified as held for sale	$-	$29,400	$-	$3,282

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Accrued Liabilities [Abstract]

Accrued Liabilities


	As of December 31,
	2017		2016
Accrued loan interest and loan fees	$	5,221	$	114
Accrued operating expenses		5,199		4,360
Accrued voyage expenses and commissions		3,521		2,453
Accrued general and administrative expenses		1,170		934
Total	$	15,111	$	7,861

Voyage Expenses and Vessel Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2017

Voyage Expenses and Vessel Operating Expenses [Abstract]

Voyage Expenses and Vessel Operating Expenses


	For the years ended December 31,
	2017		2016		2015
Voyage expenses:
Commissions	$	4,440	$	4,816	$	4,421
Bunkers		4,726		2,601		1,753
Port expenses		3,593		892		259
Other		2,406		1,971		457
Total	$	15,165	$	10,280	$	6,890
Vessel operating expenses:
Crew costs and related costs	$	43,699	$	37,342	$	31,788
Insurance expense		5,035		5,772		5,004
Spares, repairs, maintenance and other expenses		12,731		11,688		11,521
Stores and lubricants		7,937		8,203		7,790
Management fees (Note 4)		11,491		10,661		11,219
Vetting, insurances, spares and repairs (Note 4)		138		205		489
Other operating expenses		5,114		3,632		2,522
Total	$	86,145	$	77,503	$	70,333

Partners' Capital (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Incentive Distributions


	Total Quarterly	Marginal Percentage Interest in Distributions
	Distribution Target Amount per Unit	Unitholders			General Partner
Minimum Quarterly Distribution	$0.2325		98	%		2	%
First Target Distribution	up to $0.2425		98	%		2	%
Second Target Distribution	above $0.2425 up to $0.2675		85	%		15	%
Third Target Distribution	above $0.2675 up to $0.2925		75	%		25	%
Thereafter	above $0.2925		65	%		35	%

Partnership Units


	As of December 31, 2017		As of December 31, 2016
Common units		127,246,692		122,094,633
General partner units		2,439,989		2,439,989
Preferred units		12,983,333		12,983,333

Total partnership units		142,670,014		137,517,955

Omnibus Incentive Compensation Plan (Tables)

12 Months Ended

Dec. 31, 2017

Omnibus Incentive Compensation Plan [Abstract]

Omnibus Incentive Compensation Plan


	Employee equity compensation				Non-Employee equity compensation
Unvested Units	Units		Grant-date fair value		Units		Award- date fair value
Unvested on January 1, 2016		240,000	$	1,325		610,000	$	3,367
Vested		33,332		184		117,500		374
Unvested on December 31, 2016		206,668	$	1,141		492,500	$	2,993
Vested		36,666		202		117,500		395

Unvested on December 31, 2017		170,002	$	939		375,000	$	2,598

Net Income Per Unit (Tables)

12 Months Ended

Dec. 31, 2017

Net Income Per Unit [Abstract]

Net Income Per Unit Basic and Diluted


BASIC AND DILUTED	2017		2016		2015
Numerators
Partnership’s net income	$	38,483	$	52,489	$	55,410
Less:
Preferred unit holders’ interest in Partnership’s net income		11,101		11,101		11,334
General Partner’s interest in Partnership’s net income		522		818		879
Partnership’s net income allocable to unvested units		135		285		8
Common unit holders’ interest in Partnership’s net income	$	26,725	$	40,285	$	43,189
Denominators
Weighted average number of common units outstanding, basic and diluted		123,845,345		119,803,329		115,030,879
Net income per common unit:
Basic and Diluted	$	0.22	$	0.34	$	0.38

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2017

Commitments and Contingencies [Abstract]

Future minimum rental receipts



Year ended December 31,	Amount
2018	$	156,343
2019		106,422
2020		87,617
2021		54,584
2022		53,564
Thereafter		111,647

Total	$	570,177

Basis of Presentation and General Information (Table) (Details)	12 Months Ended
	Dec. 31, 2017
M/T Atlantas II
Property Plant And Equipment [Line Items]
DWT	36,760
Date of Incorporation	Sep. 16, 2003
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	04/26/2006
M/T Assos
Property Plant And Equipment [Line Items]
DWT	47,872
Date of Incorporation	Mar. 18, 2004
Date acquired by the Partnership	08/16/2010 04/04/2007
Date acquired by CMTC	05/17/2006
M/T Aktoras (M/T British Envoy)
Property Plant And Equipment [Line Items]
DWT	36,759
Date of Incorporation	Aug. 27, 2003
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	07/12/2006
M/T Agisilaos
Property Plant And Equipment [Line Items]
DWT	36,760
Date of Incorporation	Oct. 10, 2003
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	08/16/2006
M/T Arionas
Property Plant And Equipment [Line Items]
DWT	36,725
Date of Incorporation	Nov. 10, 2003
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	11/02/2006
M/T Avax
Property Plant And Equipment [Line Items]
DWT	47,834
Date of Incorporation	Feb. 10, 2004
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	01/12/2007
M/T Aiolos (M/T British Emissary)
Property Plant And Equipment [Line Items]
DWT	36,725
Date of Incorporation	Sep. 12, 2003
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	03/02/2007
M/T Axios
Property Plant And Equipment [Line Items]
DWT	47,872
Date of Incorporation	Feb. 10, 2004
Date acquired by the Partnership	04/04/2007
Date acquired by CMTC	02/28/2007
M/T Atrotos
Property Plant And Equipment [Line Items]
DWT	47,786
Date of Incorporation	Feb. 11, 2004
Date acquired by the Partnership	03/01/2010 05/08/2007
Date acquired by CMTC	05/08/2007
M/T Akeraios
Property Plant And Equipment [Line Items]
DWT	47,781
Date of Incorporation	Feb. 03, 2004
Date acquired by the Partnership	07/13/2007
Date acquired by CMTC	07/13/2007
M/T Apostolos
Property Plant And Equipment [Line Items]
DWT	47,782
Date of Incorporation	May 26, 2004
Date acquired by the Partnership	09/20/2007
Date acquired by CMTC	09/20/2007
M/T Anemos I
Property Plant And Equipment [Line Items]
DWT	47,782
Date of Incorporation	Jul. 08, 2004
Date acquired by the Partnership	09/28/2007
Date acquired by CMTC	09/28/2007
M/T Attikos
Property Plant And Equipment [Line Items]
DWT	12,000
Date of Incorporation	Dec. 29, 2003
Date acquired by the Partnership	09/24/2007
Date acquired by CMTC	01/20/2005
M/T Alexandros II (M/T Overseas Serifos)
Property Plant And Equipment [Line Items]
DWT	51,258
Date of Incorporation	Feb. 07, 2006
Date acquired by the Partnership	01/29/2008
Date acquired by CMTC	01/29/2008
M/T Amore Mio II
Property Plant And Equipment [Line Items]
DWT	159,982
Date of Incorporation	May 29, 2007
Date acquired by the Partnership	03/27/2008
Date acquired by CMTC	07/31/2007
M/T Aristofanis
Property Plant And Equipment [Line Items]
DWT	12,000
Date of Incorporation	Feb. 03, 2004
Date acquired by the Partnership	04/30/2008
Date acquired by CMTC	06/02/2005
M/T Aristotelis II (M/T Overseas Sifnos)
Property Plant And Equipment [Line Items]
DWT	51,226
Date of Incorporation	Feb. 07, 2006
Date acquired by the Partnership	06/17/2008
Date acquired by CMTC	06/17/2008
M/T Aris II (M/T Overseas Kimolos)
Property Plant And Equipment [Line Items]
DWT	51,218
Date of Incorporation	Jan. 24, 2006
Date acquired by the Partnership	08/20/2008
Date acquired by CMTC	08/20/2008
M/T Agamemnon II
Property Plant And Equipment [Line Items]
DWT	51,238
Date of Incorporation	Jul. 14, 2006
Date acquired by the Partnership	04/07/2009
Date acquired by CMTC	11/24/2008
M/T Ayrton II
Property Plant And Equipment [Line Items]
DWT	51,260
Date of Incorporation	Jul. 14, 2006
Date acquired by the Partnership	04/13/2009
Date acquired by CMTC	04/10/2009
M/T Alkiviadis
Property Plant And Equipment [Line Items]
DWT	36,721
Date of Incorporation	Jun. 22, 2004
Date acquired by the Partnership	06/30/2010
Date acquired by CMTC	03/29/2006
M/V Cape Agamemnon
Property Plant And Equipment [Line Items]
DWT	179,221
Date of Incorporation	Jun. 17, 2008
Date acquired by the Partnership	06/09/2011
Date acquired by CMTC	01/25/2011
M/T Miltiadis M II
Property Plant And Equipment [Line Items]
DWT	162,397
Date of Incorporation	Apr. 06, 2006
Date acquired by the Partnership	09/30/2011
Date acquired by CMTC	04/26/2006
M/T Amoureux
Property Plant And Equipment [Line Items]
DWT	149,993
Date of Incorporation	Apr. 14, 2010
Date acquired by the Partnership	09/30/2011
M/T Aias
Property Plant And Equipment [Line Items]
DWT	150,393
Date of Incorporation	Apr. 14, 2010
Date acquired by the Partnership	09/30/2011
M/V Agamemnon
Property Plant And Equipment [Line Items]
DWT	108,892
Date of Incorporation	Apr. 19, 2012
Date acquired by the Partnership	12/22/2012
Date acquired by CMTC	06/28/2012
M/V Archimidis
Property Plant And Equipment [Line Items]
DWT	108,892
Date of Incorporation	Apr. 19, 2012
Date acquired by the Partnership	12/22/2012
Date acquired by CMTC	06/22/2012
M/T Aristotelis
Property Plant And Equipment [Line Items]
DWT	51,604
Date of Incorporation	Oct. 16, 2013
Date acquired by the Partnership	11/28/2013
M/V Hyundai Prestige
Property Plant And Equipment [Line Items]
DWT	63,010
Date of Incorporation	Apr. 08, 2011
Date acquired by the Partnership	09/11/2013
Date acquired by CMTC	02/19/2013
M/V Hyundai Premium
Property Plant And Equipment [Line Items]
DWT	63,010
Date of Incorporation	Apr. 08, 2011
Date acquired by the Partnership	03/20/2013
Date acquired by CMTC	03/11/2013
M/V Hyundai Paramount
Property Plant And Equipment [Line Items]
DWT	63,010
Date of Incorporation	Apr. 08, 2011
Date acquired by the Partnership	03/27/2013
Date acquired by CMTC	03/27/2013
M/V Hyundai Privilege
Property Plant And Equipment [Line Items]
DWT	63,010
Date of Incorporation	Apr. 08, 2011
Date acquired by the Partnership	09/11/2013
Date acquired by CMTC	05/31/2013
M/V Hyundai Platinum
Property Plant And Equipment [Line Items]
DWT	63,010
Date of Incorporation	Jul. 19, 2011
Date acquired by the Partnership	09/11/2013
Date acquired by CMTC	06/14/2013
M/V Akadimos (renamed to "CMA CGM Amazon")
Property Plant And Equipment [Line Items]
DWT	115,534
Date of Incorporation	May 16, 2013
Date acquired by the Partnership	06/10/2015
Date acquired by CMTC	06/10/2015
M/V Adonis (renamed to "CMA CGM Uruguay")
Property Plant And Equipment [Line Items]
DWT	115,639
Date of Incorporation	May 16, 2013
Date acquired by the Partnership	09/18/2015
Date acquired by CMTC	09/18/2015
M/T Active
Property Plant And Equipment [Line Items]
DWT	50,136
Date of Incorporation	May 31, 2013
Date acquired by the Partnership	03/31/2015
Date acquired by CMTC	03/31/2015
M/T Amadeus
Property Plant And Equipment [Line Items]
DWT	50,108
Date of Incorporation	May 31, 2013
Date acquired by the Partnership	06/30/2015
Date acquired by CMTC	06/30/2015
M/V Anaxagoras (renamed to CMA CGM Magdalena)
Property Plant And Equipment [Line Items]
DWT	115,639
Date of Incorporation	Oct. 25, 2013
Date acquired by the Partnership	02/26/2016
Date acquired by CMTC	02/26/2016
M/T Amor
Property Plant And Equipment [Line Items]
DWT	49,999
Date of Incorporation	May 31, 2013
Date acquired by the Partnership	10/24/2016
Date acquired by CMTC	09/30/2015

Basis of Presentation and General Information - Supplementary (Table) (Details)	12 Months Ended
	Dec. 31, 2017
Capital Product Operating LLC
Subsidiary Of Limited Liability Company Or Limited Partnership
Date of Incorporation	Jan. 16, 2007
Crude Carriers Corp.
Subsidiary Of Limited Liability Company Or Limited Partnership
Date of Incorporation	Oct. 29, 2009
Date acquired by the Partnership	09/30/2011
Crude Carriers Operating Corp.
Subsidiary Of Limited Liability Company Or Limited Partnership
Date of Incorporation	Jan. 21, 2010
Date acquired by the Partnership	09/30/2011
Miltiadis M II Corp.
Subsidiary Of Limited Liability Company Or Limited Partnership
Date of Incorporation	Aug. 28, 2012

Basis of Presentation and General Information - Additional Information (Details)	Dec. 31, 2017
Property Plant And Equipment
Number of vessels	36
Suezmax Crude Oil Tankers
Property Plant And Equipment
Number of vessels	4
Medium Range Tankers
Property Plant And Equipment
Number of vessels	21
Post Panamax Container Carrier Vessels
Property Plant And Equipment
Number of vessels	10
Capesize Bulk Carrier
Property Plant And Equipment
Number of vessels	1

Significant Accounting Policies (Details) $ in Thousands	12 Months Ended
Significant Accounting Policies (Details) $ in Thousands	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Significant Accounting Policies [Abstract]
Maximum original maturity of highly-liquid investments, in order to be classified as cash and cash equivalents	3
Write off of doubtful accounts	$ 0	$ 0
Scrap value per light weight ton (LWT)	$0.2
Vessels useful life	25 years
Percentage of voyage charter revenue of three vessels	5.80%
Number of vessels	36
Voyage charters in progress
Number of vessels	3
Minimum
Interval between vessel drydocking	30
Maximum
Interval between vessel drydocking	60

Acquisition of Filonikis Product Carrier S.A. (M/T Amor) - Purchase Price Allocation (Table) (Details) - Filonikis Product Carrier S.A. $ in Thousands	Oct. 24, 2016 USD ($)
Business Acquisition [Line Items]
Vessel	$ 31,600
Above market acquired time charters	1,061
Identifiable assets	32,661
Loan	(15,750)
Net assets acquired	16,911
Purchase price	$ (16,911)

Acquisition of Filonikis Product Carrier S.A. (M/T Amor) - Unaudited Pro Forma Financial Information (Table) (Details) - Filonikis Product Carrier S.A. - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Business Acquisition [Line Items]
Total revenues	$ 245,825	$ 221,638
Partnership's net income	53,677	55,430
Preferred unit holders' interest in Partnership's net income	11,101	11,334
General Partner's interest in Partnership's net income	850	881
Common unit holders interest in Partnership's net income	$ 41,726	$ 43,215
Net income per common unit basic and diluted	$ 0.35	$ 0.38

Acquisition of Filonikis Product Carrier S.A. (M/T Amor) - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	10 Months Ended	12 Months Ended
	Oct. 24, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Apr. 30, 2015
Business Acquisition [Line Items]
Equity offering	283,696				14,555,000
Price per common unit	$ 3.21
Charter Revenues		$ 204,462	$ 205,594	$ 156,613
Filonikis Product Carrier S.A.
Business Acquisition [Line Items]
Acquisition related costs	$ 264
Cash consideration for acquisition of vessel	$ 16,000
Duration of above market acquired time charter	1 year
WACC used for calculation of above market acquired time charter			7.50%
Charter Revenues			$ 980
Net income			$ 222
Time charter ending October 2017 \| Cargill International S.A. (Cargill) \| Filonikis Product Carrier S.A.
Business Acquisition [Line Items]
Time Charter Years			2 years
Charter earliest redelivery			30 days
Time charter immediately after October 2017 \| CMTC \| Filonikis Product Carrier S.A.
Business Acquisition [Line Items]
Time Charter Years			0.17 years

Transactions with Related Parties - Consolidated Balance Sheets (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Liabilities:
Due to related parties	$ 14,234	$ 16,095
Deferred revenue - current (e)	18,800	19,986
Manager - payments on behalf of the Partnership (a)
Liabilities:
Due to related parties	13,218	15,126
Management fee payable to CSM (b)
Liabilities:
Due to related parties	1,016	969
Capital Maritime And Trading Corp.
Liabilities:
Deferred revenue - current (e)	2,829	2,925
Total liabilities	$ 17,063	$ 19,020

- Definition

The carrying amount of consideration received or receivable as of the balance sheet date on potential earnings that were not recognized as revenue in conformity with GAAP, and which are expected to be recognized as such within one year or the normal operating cycle, if longer, including sales, license fees, and royalties, but excluding interest income.

+ References + Details

Transactions with Related Parties - Consolidated Statements of Income (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction
Revenues (c)	$ 44,653	$ 36,026	$ 63,731
Voyage expenses	0	360	411
Vessel operating expenses	11,629	10,866	11,708
General and administrative expenses (d)	6,234	6,253	6,608
Capital Maritime And Trading Corp.
Related Party Transaction
Revenues (c)	44,653	36,026	63,731
Voyage expenses	0	360	411
Vessel operating expenses	11,629	10,866	11,708
General and administrative expenses (d)	$ 1,983	$ 2,076	$ 2,569

Transactions with Related Parties - Charter Revenues (Table) (Details)	12 Months Ended
	Dec. 31, 2017
M/T Agisilaos
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	09/2015
Termination or earliest expected redelivery	06/2016
Gross Daily Hire Rate	$14.5
Net Daily Hire Rate	$14.3
M/T Arionas
Related Party Transaction
Time Charter (TC) in years	1.2
Commencement of Charter	12/2014
Termination or earliest expected redelivery	01/2016
Gross Daily Hire Rate	$15.0
Net Daily Hire Rate	$14.8
M/T Arionas
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	01/2017
Termination or earliest expected redelivery	02/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Amore Mio II
Related Party Transaction
Time Charter (TC) in years	0.9
Commencement of Charter	08/2016
Termination or earliest expected redelivery	09/2017
Gross Daily Hire Rate	$21.0
Net Daily Hire Rate	$20.7
M/T Akeraios
Related Party Transaction
Time Charter (TC) in years	2.0
Commencement of Charter	03/2015
Termination or earliest expected redelivery	04/2016
Gross Daily Hire Rate	$15.6
Net Daily Hire Rate	$15.4
M/T Apostolos
Related Party Transaction
Time Charter (TC) in years	2.0
Commencement of Charter	04/2015
Termination or earliest expected redelivery	01/2016
Gross Daily Hire Rate	$15.6
Net Daily Hire Rate	$15.4
M/T Anemos I
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	06/2015
Termination or earliest expected redelivery	01/2016
Gross Daily Hire Rate	$17.3
Net Daily Hire Rate	$17.0
M/T Aristotelis
Related Party Transaction
Time Charter (TC) in years	1.1 to 1.3
Commencement of Charter	12/2015
Termination or earliest expected redelivery	12/2016
Gross Daily Hire Rate	$19.0
Net Daily Hire Rate	$18.8
M/T Aristotelis
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	01/2017
Termination or earliest expected redelivery	02/2018
Gross Daily Hire Rate	$13.8
Net Daily Hire Rate	$13.6
M/T Ayrton II
Related Party Transaction
Time Charter (TC) in years	2.0
Commencement of Charter	02/2016
Termination or earliest expected redelivery	02/2018
Gross Daily Hire Rate	$18.0
Net Daily Hire Rate	$17.8
M/T Miltiadis M II
Related Party Transaction
Time Charter (TC) in years	0.6
Commencement of Charter	09/2015
Termination or earliest expected redelivery	05/2016
Gross Daily Hire Rate	$35.0
Net Daily Hire Rate	$34.6
M/T Miltiadis M II
Related Party Transaction
Time Charter (TC) in years	0.9
Commencement of Charter	08/2016
Termination or earliest expected redelivery	08/2017
Gross Daily Hire Rate	$25.0
Net Daily Hire Rate	$24.7
M/T Miltiadis M II
Related Party Transaction
Time Charter (TC) in years	0.8 to 1.0
Commencement of Charter	10/2017
Termination or earliest expected redelivery	08/2018
Gross Daily Hire Rate	$18.0
Net Daily Hire Rate	$18.0
M/T Amadeus
Related Party Transaction
Time Charter (TC) in years	2.0
Commencement of Charter	06/2015
Termination or earliest expected redelivery	08/2017
Gross Daily Hire Rate	$17.0
Net Daily Hire Rate	$16.8
M/T Atlantas II
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	10/2016
Termination or earliest expected redelivery	12/2017
Gross Daily Hire Rate	$13.0
Net Daily Hire Rate	$12.8
M/T Amoureux
Related Party Transaction
Time Charter (TC) in years	1.0
Commencement of Charter	04/2017
Termination or earliest expected redelivery	03/2018
Gross Daily Hire Rate	$22.0
Net Daily Hire Rate	$22.0
M/T Aktoras
Related Party Transaction
Time Charter (TC) in years	0.8 to 1.0
Commencement of Charter	09/2017
Termination or earliest expected redelivery	01/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Aiolos
Related Party Transaction
Time Charter (TC) in years	0.8 to 1.0
Commencement of Charter	09/2017
Termination or earliest expected redelivery	07/2018
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Amor
Related Party Transaction
Time Charter (TC) in years	0.2
Commencement of Charter	09/2017
Termination or earliest expected redelivery	01/2018
Gross Daily Hire Rate	$14.0
Net Daily Hire Rate	$13.8

Transactions with Related Parties - Additional Information (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Mar. 31, 2017 USD ($)	Mar. 31, 2016 USD ($)	Sep. 30, 2011
Related Party Transaction
Number of vessels	36
Vessel operating expenses	$ 11,629	$ 10,866	$ 11,708
General and administrative expenses	6,234	6,253	6,608
Executive services agreement with CGP
Related Party Transaction
General and administrative expenses	1,688	1,688	1,624
Capital Ship Management Corp. \| Fixed fee management agreement
Related Party Transaction
Vessel operating expenses	488	981	3,221
Capital Ship Management Corp. \| Floating fee management agreement
Related Party Transaction
Vessel operating expenses	$ 10,100	8,865	7,477
Capital Ship Management Corp. \| Crude Carriers Corp. ("Crude") management agreement
Related Party Transaction
Number of vessels	3					5
Vessel operating expenses	$ 1,041	$ 1,020	$ 1,010
Sales and purchase fee		1.00%
Commercial service fee		1.25%
Management agreement termination fees				$ 10,124	$ 9,858
Management agreement waiver terms	Effective from January 1, 2017 the Manager agreed to waive going forward (i) the sale and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of the three vessels and (ii) the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered.

Fixed assets and assets held for sale - Advances for vessels under construction - related party (Table) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016 USD ($)
Property Plant And Equipment [Line Items]
Balance as at beginning of period,	$ 18,172
Related party
Property Plant And Equipment [Line Items]
Balance as at beginning of period,	18,172
Transfer to vessels	(18,172)
Balance as at end of period,	$ 0

Fixed assets and assets held for sale - Vessels, net (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Property Plant And Equipment
Balance as at beginning of period	$ 1,367,731
Impairment of vessel	(3,282)	$ 0	$ 0
Balance as at end of period	1,265,196	1,367,731
Vessel Cost
Property Plant And Equipment
Balance as at beginning of period	1,775,689	1,653,727
Acquisitions and improvements	967	103,790
Transfer from Advances for vessels under construction - related party		18,172
Impairment of vessel	(3,282)
Classification as asset held for sale	(34,859)
Balance as at end of period	1,738,515	1,775,689	1,653,727
Accumulated depreciation
Property Plant And Equipment
Balance as at beginning of period	(407,958)	(338,242)
Depreciation for the period	(71,358)	(69,716)
Classification as asset held for sale	5,997
Balance as at end of period	(473,319)	(407,958)	(338,242)
Net book value
Property Plant And Equipment
Balance as at beginning of period	1,367,731	1,315,485
Acquisitions and improvements	967	103,790
Transfer from Advances for vessels under construction - related party		18,172
Depreciation for the period	(71,358)	(69,716)
Impairment of vessel	(3,282)
Classification as asset held for sale	(28,862)
Balance as at end of period	$ 1,265,196	$ 1,367,731	$ 1,315,485

Fixed assets and assets held for sale, Assets held for sale (Table) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)
Property Plant And Equipment [Line Items]
Balance as at beginning of period,	$ 0
Balance as at end of period	29,027
Assets held for sale
Property Plant And Equipment [Line Items]
Balance as at beginning of period,	0
Vessel held for sale	28,862
Inventories	165
Balance as at end of period	$ 29,027

Fixed assets and assets held for sale - Additional Information (Details) $ in Thousands	2 Months Ended		7 Months Ended	8 Months Ended	12 Months Ended
	Feb. 26, 2016 USD ($)	Feb. 23, 2016 USD ($)	Jul. 24, 2014 USD ($)	Aug. 31, 2014 USD ($)	Dec. 31, 2017 USD ($)	Dec. 22, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Oct. 24, 2016 USD ($)
Property Plant And Equipment
Number of vessels					36
Above market acquired charters acquisition							$ 4,267
Advances for vessels under construction - related party								$ 18,172
Impairment of vessel					$ 3,282		0	0
Master Agreement
Property Plant And Equipment
Number of vessels			5
Fair value of vessels under construction acquired				$ 347,917
Excess between the fair value of the contracted vessels and the contractual cash consideration				$ 36,417				10,251
Contracted price			$ 311,500
Advances for vessels under construction - related party								$ 7,921
Master Agreement Product Carriers
Property Plant And Equipment
Number of vessels			2
DWT			50,000
Master Agreement Post Panamax Container Carriers
Property Plant And Equipment
Number of vessels			3
TEU			9,100
M/T Amor
Property Plant And Equipment
Fair value of vessels acquired									$ 31,600
M/V CMA CGM Magdalena
Property Plant And Equipment
DWT					115,639
Cash consideration for acquisition of vessel	$ 81,500
Amount of available cash paid for acquisition of vessel	46,500
Fair value of vessels acquired	88,545
Above market acquired charters acquisition							$ 3,206
Contracted price	91,751
M/V CMA CGM Magdalena \| 2013 Credit Facility
Property Plant And Equipment
Line of credit facility amount drawn down	$ 35,000	$ 35,000
M/V Agamemnon, M/T Amore Mio II, M/T Miltiadis M II, M/T Ayrton II, M/T Axios, M/T Arionas, M/T Avax, M/T Assos, M/T Amoureux, M/T Atrotos which underwent improvements
Property Plant And Equipment
Number of vessels					10
Vessel improvement costs capitalized					$ 967
M/T Alkiviadis, M/V Archimidis, M/T Anemos I, M/T Amore Mio II, M/T Miltiadis M II, M/T Arionas which underwent improvements
Property Plant And Equipment
Number of vessels							6
Vessel improvement costs capitalized							$ 1,817
M/T Aristotelis
Property Plant And Equipment
Sale price agreed in Memorandum of Agreement						$ 29,400
Vessel delivery, expected date						Mar. 11, 2018
Number of vessels acquired out of the total agreed \| Master Agreement
Property Plant And Equipment
Number of vessels							1	4

Above market acquired charters - Carrying Value (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Acquired Finite Lived Intangible Assets
Carrying amount, beginning of period	$ 90,243	$ 100,518
Acquisitions		4,267
Amortization	(15,208)	(14,542)	$ (14,864)
Carrying amount, end of period	$ 75,035	$ 90,243	$ 100,518

Above market acquired charters - Amortization Schedule (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
For the twelve month period ended December 31,
2018	$ 14,381
2019	14,381
2020	11,695
2021	8,418
2022	8,372
Thereafter	17,788
Total	$ 75,035	$ 90,243	$ 100,518

Above market acquired charters - Additional Information (Details) - USD ($) $ in Thousands	2 Months Ended	10 Months Ended	12 Months Ended
	Feb. 26, 2016	Oct. 24, 2016	Dec. 31, 2016
Acquired Finite Lived Intangible Assets [Line Items]
Above market acquired charters acquisition			$ 4,267
M/T Amor
Acquired Finite Lived Intangible Assets [Line Items]
Above market acquired charters acquisition		$ 1,061
M/V CMA CGM Magdalena
Acquired Finite Lived Intangible Assets [Line Items]
Above market acquired charters acquisition	$ 3,206
WACC used for calculation of above market acquired time charter	7.50%

Long-Term Debt - Total Debt (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument
Total long-term debt	$ 475,750	$ 605,012
Less: Deferred loan issuance costs	6,635	2,825
Less: loan associated with vessel held for sale	14,781	0
Total long-term debt, net	454,334	602,187
Less: Current portion of long-term debt	52,057	40,534
Add: Current portion of deferred loan issuance costs	1,543	966
Long-term debt, net	403,820	562,619
(i) Issued In September 2017 maturing in October 2023 (the "2017 credit facility)
Debt Instrument
Total long-term debt	$ 460,000	0
Margin	3.25%
(ii) Assumed in October 2016 maturing in November 2022 (the ''2015 credit facility'')
Debt Instrument
Total long-term debt	$ 15,750	15,750
Margin	2.50%
(iii) Issued in March 2007 repaid in October 2017 (the ''2007 credit facility'')
Debt Instrument
Total long-term debt	$ 0	185,975
Margin	3.00%
(iv) Issued in March 2008 repaid in October 2017 (the ''2008 credit facility'')
Debt Instrument
Total long-term debt	$ 0	181,641
Margin	3.00%
(v) Issued in June 2011 fully repaid in October 2017 (the ''2011 credit facility'')
Debt Instrument
Total long-term debt	$ 0	14,000
Margin	3.25%
(vi) Issued in September 2013 repaid in October 2017 (the ''2013 credit facility'')
Debt Instrument
Total long-term debt	$ 0	$ 207,646
Margin	3.50%

Long-Term Debt - Annual Loan Payments (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
2018	$ 66,838
2019	53,042
2020	53,042
2021	53,042
2022	63,212
Thereafter	186,574
Total	475,750	$ 605,012
2017 Credit Facility (i)
Debt Instrument [Line Items]
2018	66,510
2019	51,729
2020	51,729
2021	51,729
2022	51,729
Thereafter	186,574
Total	460,000
2015 Credit Facility (ii)
Debt Instrument [Line Items]
2018	328
2019	1,313
2020	1,313
2021	1,313
2022	11,483
Thereafter	0
Total	$ 15,750	$ 15,750

Long-Term Debt - Additional Information (Details) $ in Thousands	2 Months Ended		9 Months Ended		12 Months Ended
	Feb. 26, 2016 USD ($)	Feb. 23, 2016 USD ($)	Oct. 04, 2017 USD ($)	Oct. 02, 2017 USD ($)	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)	Oct. 01, 2017 USD ($)	Oct. 24, 2016 USD ($)
Debt Instrument [Line Items]
Long-term debt outstanding balance					$ 475,750	$ 605,012
Number of vessels					36
Liability associated with vessel held for sale, part of the Tranche A					$ 14,781	0
Line of credit facility, remaining borrowing capacity					0
Interest expense					$ 24,782	$ 22,674	$ 17,856
Weighted average interest rate					4.29%	3.73%
Repayment of credit facility					$ 129,262	$ 17,354	$ 121,299
2011 Credit Facility - Prepaid in full
Debt Instrument [Line Items]
Long-term debt outstanding balance								$ 14,000
Repayment of credit facility				$ 14,000
2013 Credit Facility
Debt Instrument [Line Items]
Repayment amount					$ 13,016	$ 17,354
New senior secured term loan facility
Debt Instrument [Line Items]
Senior secured term loan facility, arrangement date					Sep. 06, 2017
Line of credit facility, maximum borrowing capacity					$ 460,000
Number of Tranches					2
Latest date the outstanding repayments will be repaid					Oct. 04, 2023
Debt variable rate basis					LIBOR
Credit facility margin					3.25%
New senior secured term loan facility \| Tranche A
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 259,000
Number of vessels					11
Repayment installments					24
Frequency of Payments					quarterly
Repayment amount					$ 4,833
Balloon payment, payable together with the final quarterly instalment					$ 143,008
Starting period of payment installments					Jan. 04, 2018
New senior secured term loan facility \| Tranche B
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity					$ 201,000
Number of vessels					24
Repayment installments					24
Frequency of Payments					quarterly
Repayment amount					$ 8,375
Starting period of payment installments					Jan. 04, 2018
New senior secured term loan facility \| Refinances 2007 credit facility, 2008 credit facility and 2013 credit facility
Debt Instrument [Line Items]
Refinancing of debt, amount			$ 460,000
Repayment of credit facility			$ 102,246
M/T Aristotelis \| New senior secured term loan facility
Debt Instrument [Line Items]
Latest date the outstanding repayments will be repaid					Mar. 31, 2018
Liability associated with vessel held for sale, part of the Tranche A					$ 14,781
M/T Amor \| ING Bank N.V.
Debt Instrument [Line Items]
Long-term debt outstanding balance									$ 15,750
Line of credit facility, arrangement date					Nov. 19, 2015
Repayment installments					17
Frequency of Payments					quarterly
Starting period of payment installments					Oct. 24, 2018
Debt variable rate basis					LIBOR
Credit facility margin					2.50%
Maturity date					Nov. 30, 2022
M/V CMA CGM Magdalena \| 2013 Credit Facility
Debt Instrument [Line Items]
Line of credit facility amount drawn down	$ 35,000	$ 35,000

Long-Term Debt Covenants Description (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)
Debt Instrument [Line Items]
Ratio Of EBITDA To Net Interest Expense	2
Debt Instrument Covenant Description	The Partnership's credit facilities contain customary ship finance covenants, including restrictions as to changes in management and ownership of the mortgaged vessels, the incurrence of additional indebtedness and the mortgaging of vessels and requirements such as, the ratio of EBITDA to Net Interest Expenses to be no less than 2:1, a minimum cash requirement of $500 per vessel, the ratio of net Total Indebtedness to the Total Assets of the Partnership adjusted for the Market Value of the fleet not to exceed 0.75:1 for the 2017 credit facility and the ratio of net Total Indebtedness to the aggregate Market Value of the fleet not to exceed 0.725:1 for the 2015 credit facility. As of December 31, 2017 and 2016, restricted cash amounted to $18,000 for each year and is presented under other non-current assets. The credit facilities also contain a collateral maintenance requirement under which the aggregate fair market value of the collateral vessels should not be less than 125% for the 2017 credit facility and 120% for the 2015 credit facility, of the aggregate outstanding amount under these facilities. Also the vessel-owning companies may pay dividends or make distributions when no event of default has occurred and the payment of such dividend or distribution has not resulted in a breach of any of the financial covenants. As of December 31, 2017 and 2016 the Partnership was in compliance with all financial covenants.
Restricted cash	$ 18,000	$ 18,000
2015 Credit Facility
Debt Instrument [Line Items]
Net Total Indebtedness to the aggregate Market Value of the Total fleet	72.50%
Collateral Maintenance Requirement	120.00%
2017 Credit Facility
Debt Instrument [Line Items]
Net Total Indebtedness to the aggregate Market Value of the Total fleet	75.00%
Collateral Maintenance Requirement	125.00%
Minimum cash requirement per collateralized vessel
Debt Instrument [Line Items]
Restricted cash	$ 500

Financial Instruments - Fair Value Measurements on a Nonrecurring basis (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-lived assets classified as held for sale - Loss	$ 3,282	$ 0	$ 0
Nonrecurring basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-lived assets classified as held for sale - Loss	3,282
Level II \| Nonrecurring basis
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Long-lived assets classified as held for sale	$ 29,400

Financial Instruments - Additional Information (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 22, 2017
Financial Instruments - Additional Information [Abstract]
Vessel's carrying amount				$ 32,144
Hyundai Merchant Marine Co Ltd ("HMM")
Derivative Instruments Gain/ (Loss) [Line Items]
Major customer percentage	18.00%	19.00%	21.00%
Petroleo Brasileiro S.A.
Derivative Instruments Gain/ (Loss) [Line Items]
Major customer percentage	19.00%	18.00%
CMA CGM
Derivative Instruments Gain/ (Loss) [Line Items]
Major customer percentage	17.00%	17.00%
CMTC
Derivative Instruments Gain/ (Loss) [Line Items]
Major customer percentage	18.00%	15.00%	29.00%

Accrued Liabilities (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2017	Dec. 31, 2016
Accrued Liabilities [Abstract]
Accrued loan interest and loan fees	$ 5,221	$ 114
Accrued operating expenses	5,199	4,360
Accrued voyage expenses and commissions	3,521	2,453
Accrued general and administrative expenses	1,170	934
Total	$ 15,111	$ 7,861

Voyage Expenses and Vessel Operating Expenses (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Voyage expenses:
Commissions	$ 4,440	$ 4,816	$ 4,421
Bunkers	4,726	2,601	1,753
Port expenses	3,593	892	259
Other	2,406	1,971	457
Total	15,165	10,280	6,890
Vessel operating expenses:
Crew costs and related costs	43,699	37,342	31,788
Insurance expense	5,035	5,772	5,004
Spares, repairs, maintenance and other expenses	12,731	11,688	11,521
Stores and lubricants	7,937	8,203	7,790
Management fees (Note 4)	11,491	10,661	11,219
Vetting, insurances, spares and repairs (Note 4)	138	205	489
Other operating expenses	5,114	3,632	2,522
Total	$ 86,145	$ 77,503	$ 70,333

Partners' Capital - Distributions to Unitholders (Table) (Details)	12 Months Ended
	Dec. 31, 2017 $ / shares
Minimum Quarterly Distribution \| Common Unitholders
Marginal percentage interest in distributions	98.00%
Minimum Quarterly Distribution \| General Partner
Marginal percentage interest in distributions	2.00%
First Target Distribution \| Common Unitholders
Marginal percentage interest in distributions	98.00%
First Target Distribution \| General Partner
Marginal percentage interest in distributions	2.00%
Second Target Distribution \| Common Unitholders
Marginal percentage interest in distributions	85.00%
Second Target Distribution \| General Partner
Marginal percentage interest in distributions	15.00%
Third Target Distribution \| Common Unitholders
Marginal percentage interest in distributions	75.00%
Third Target Distribution \| General Partner
Marginal percentage interest in distributions	25.00%
Thereafter \| Common Unitholders
Marginal percentage interest in distributions	65.00%
Thereafter \| General Partner
Marginal percentage interest in distributions	35.00%
Maximum \| First Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	$ 0.2425
Maximum \| Second Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	0.2675
Maximum \| Third Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	0.2925
Minimum \| Minimum Quarterly Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	0.2325
Minimum \| Second Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	0.2425
Minimum \| Third Target Distribution \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	0.2675
Minimum \| Thereafter \| Total Quarterly Distribution Target Amount per Unit
Distribution target amount per unit	$ 0.2925

Partners' Capital - Partnership Units (Table) (Details) - shares	Dec. 31, 2017	Dec. 31, 2016
Partners' Capital [Abstract]
Common units	127,246,692	122,094,633
General partner units	2,439,989	2,439,989
Preferred units	12,983,333	12,983,333
Total partnership units	142,670,014	137,517,955

Partners' Capital - Additional Information (Details) - USD ($) $ / shares in Units, $ in Thousands	4 Months Ended	9 Months Ended	12 Months Ended			24 Months Ended
	Apr. 30, 2015	Sep. 30, 2016	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2013	Oct. 24, 2016
Equity offering	14,555,000						283,696
Issuance of common units under Omnibus Incentive Compensation Plan					850,000
Net price per common unit	$ 9.53
Net proceeds from equity offering	$ 133,327
Issuance of Partnership's units	$ 132,588		$ 17,639	$ 4,567	$ 132,588
Class B Convertible Preferred Unit Subscription Agreement
Class B convertible preferred unit issued						24,655,554
Conversion price of the Preferred units						$ 9
Preferred units conversion rate						1
May 23, June 6, 2012 and 2013 Class B Convertible Preferred Units Subscription Agreements Conversion Terms			Commencing on May 23, 2015, in the event the 30-day volume-weighted average trading price (“VWAP”) and the daily VWAP of the Common Units on the National Securities Exchange on which the Common Units are listed or admitted to trading exceeds 130% of the then applicable Conversion Price for at least 20 Trading Days out of the 30 consecutive Trading Day period used to calculate the 30-day VWAP (the “Partnership Mandatory Conversion Event”) the Partnership acting pursuant to direction and approval of the Conflicts Committee (following consultation with the full board of directors), shall have the right to convert the Class B Convertible Preferred Units then outstanding in whole or in part into Common Units at the then-applicable Conversion Ratio. The holders of the outstanding Class B Convertible Preferred Units as of an applicable record date shall be entitled to receive, when, as and if authorized by the Partnership’s board of directors or any duly authorized committee, out of legally available funds for such purpose, (a) first, the minimum quarterly Class B Convertible Preferred Unit Distribution Rate on each Class B Convertible Preferred Unit and (b) second, any cumulative Class B Convertible Preferred Unit Arrearage then outstanding, prior to any other distributions made in respect of any other Partnership Interests pursuant to the Agreements in cash. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate shall be payable quarterly which is generally expected to be February 10, May 10, August 10 and November 10, or, if any such date is not a business day, the next succeeding business day.
Class B Convertible Preferred Units
Preferred units conversion rate					1
Number of Class B convertible preferred units converted to common units					1,240,404
Limited Partners Common
Conversion of Partnership's units					$ 7,900
Issuance of Partnership's units			$ 17,639	$ 4,567	132,588
Limited Partners Common
Conversion of Partnership's units					10,642
Limited Partners Common
Conversion of Partnership's units					(2,742)
General Partner
Conversion of Partnership's units					2,742
Limited Partners Preferred
Conversion of Partnership's units					$ (10,642)
Underwriters Exercise of Overallotment Options
Equity offering	1,755,000
CMTC
Units purchased	1,100,000
Common Units converted to General Partner Units					315,908
Interest of CGP in the partnership			1.71%
Minimum \| CMTC \| Right waived
Distribution target amount per unit			$ 0.2425
Maximum \| CMTC \| Right waived
Distribution target amount per unit			$ 0.25
The "ATM Offering" \| UBS Securities LLC ("UBS")
Equity offering			5,152,059	1,401,481
Net proceeds from equity offering			$ 17,815	$ 4,546
Maximum proceeds from the issuance of new common units		$ 50,000
Offering expenses			$ 176	$ 890
The "ATM Offering" \| UBS Securities LLC ("UBS") \| Maximum
Commission percentage			2.00%

Omnibus Incentive Compensation Plan (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016
Units
Unvested, end of period	$ 1,111
Employee equity compensation
Units
Unvested, beginning of period	206,668	240,000
Vested	36,666	33,332
Unvested, end of period	170,002	206,668
Unvested, beginning of period	$ 1,141	$ 1,325
Vested	202	184
Unvested, end of period	$ 939	$ 1,141
Non-Employee equity compensation
Units
Unvested, beginning of period	492,500	610,000
Vested	117,500	117,500
Unvested, end of period	375,000	492,500
Unvested, beginning of period	$ 2,993	$ 3,367
Vested	395	374
Unvested, end of period	$ 2,598	$ 2,993

Omnibus Incentive Compensation Plan (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2017 USD ($)	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($) shares	Dec. 23, 2015 shares	Aug. 21, 2014 shares	Jul. 22, 2010 shares	Apr. 29, 2008 shares
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units / Shares authorized \| shares			850,000
Share based compensation	$ 1,156	$ 1,074	$ 34
Total compensation cost related to non vested awards	$ 1,111
Expected period of recognition for unrecognized compensation cost	1 year
Value of unvested units accrued distribution	$ 427
Partnerships Omnibus Incentive Compensation Plan
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units / Shares authorized \| shares					1,650,000	800,000	500,000
Partnerships Omnibus Incentive Compensation Plan Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units granted \| shares				240,000
Number of annual installments				3
Vesting date of remaining awards				Dec. 31, 2018
Partnerships Omnibus Incentive Compensation Plan Non Employees
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Units granted \| shares				610,000
Number of annual installments				3
Vesting date of remaining awards				Dec. 31, 2018
Employee equity compensation
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation	438	439	10
Total compensation cost related to non vested awards	939	1,141	1,325
Non-Employee equity compensation
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation	718	635	24
Total compensation cost related to non vested awards	$ 2,598	$ 2,993	$ 3,367

Net Income Per Unit (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Numerators
Partnership's net income	$ 38,483	$ 52,489	$ 55,410
Less:
Preferred unit holders' interest in Partnership's net income	11,101	11,101	11,334
General Partner's interest in Partnership's net income	522	818	879
Partnership's net income allocable to unvested units	135	285	8
Common unit holders' interest in Partnership's net income	$ 26,725	$ 40,285	$ 43,189
Denominators
Weighted average number of common units outstanding, basic and diluted	123,845,345	119,803,329	115,030,879
Net income per common unit:
Basic and diluted	$ 0.22	$ 0.34	$ 0.38

Net Income per Unit - Additional Information (Details) - shares	12 Months Ended
	Dec. 31, 2017	Dec. 31, 2016	Dec. 31, 2015
Class B Convertible Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive units	12,983,333	12,983,333	12,983,333
Non-vested units awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive units	545,002	699,168	850,000

Hyundai Merchant Marine Co. Ltd (''HMM'') charters restructuring (Details) $ in Thousands	6 Months Ended		7 Months Ended	12 Months Ended
	Jul. 15, 2016	Jul. 14, 2016	Aug. 04, 2016 USD ($) shares	Dec. 31, 2017
Number Of Vessels				36
Hyundai Merchant Marine Co. Ltd "HMM"
Number of shares received as a compensation \| shares			4,398,910
Cash consideration from sale of trading asset \| $			$ 29,706
Hyundai Merchant Marine Co. Ltd "HMM" \| The "HMM' Vessels
Number Of Vessels				5
Gross Daily Hire Rate		29.4
Time charter expiration				2024 and 2025
The ''Charter Reduction Period" \| Hyundai Merchant Marine Co. Ltd "HMM" \| The "HMM' Vessels
Gross Daily Hire Rate	23,5
Percentage of decrease of charter rate	20.00%
Time Charter Years	3.5 years
Commencement Of Charter Date	July 2016
Time charter expiration	December 2019
After the "Charter Reduction Period" \| Hyundai Merchant Marine Co. Ltd "HMM" \| The "HMM' Vessels
Gross Daily Hire Rate	29,4

Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) $ in Thousands	Dec. 31, 2017 USD ($)
Commitments and Contingencies [Abstract]
2018	$ 156,343
2019	106,422
2020	87,617
2021	54,584
2022	53,564
Thereafter	111,647
Total	$ 570,177

Subsequent Events (Details) $ / shares in Units, $ in Thousands	1 Months Ended		12 Months Ended
	Jan. 22, 2018 USD ($)	Jan. 17, 2018 USD ($)	Dec. 31, 2017 USD ($) $ / shares	Dec. 31, 2016 USD ($)	Dec. 31, 2015 USD ($)
Subsequent Event [Line Items]
Assumption of a term loan under a credit facility previously arranged by CMTC			$ 0	$ 15,750	$ 0
M/T Aristaios
Subsequent Event [Line Items]
DWT		113,689
Contracted price		$ 52,500
Cash consideration for acquisition of vessel		24,167
Assumption of a term loan under a credit facility previously arranged by CMTC		$ 28,333
Debt variable rate basis		LIBOR
Margin		2.85%
Repayment installments		12
Frequency of Payments		semi-annual
Repayment amount		$ 917
M/T Aristaios \| Tesoro Far East Maritime Company 'Tesoro'
Subsequent Event [Line Items]
Gross Daily Hire Rate		$26.4
Commencement Of Charter Date		January 2017
Time Charter Years		Five years +/-45 days
M/T Anikitos
Subsequent Event [Line Items]
DWT	50,082
Contracted price	$ 31,500
Gross Daily Hire Rate	$15.3
Termination Or Earliest Expected Redelivery Date	June 2020
Debt variable rate basis	LIBOR
Margin	2.50%
Amount of the loan as as percentage of the vessel's charter free market value at the time of the dropdown	50.00%
Term loan non amortizing period	2 years
Maturity date	Jun. 16, 2023
M/T Anikitos \| Option to extend the time charter
Subsequent Event [Line Items]
Time Charter Years	Eighteen months (+/-30 days)
Common Unitholders
Subsequent Event [Line Items]
Dividends Payable, Date Declared			Jan. 17, 2018
Dividend declared \| $ / shares			$ 0.08
Dividends paid, Date of payment			Feb. 13, 2018
Dividends Payable, Date of Record			Feb. 02, 2018
Preferred Unitholders
Subsequent Event [Line Items]
Dividends Payable, Date Declared			Jan. 17, 2018
Dividend declared \| $ / shares			$ 0.21375
Dividends paid, Date of payment			Feb. 09, 2018
Dividends Payable, Date of Record			Feb. 02, 2018