View Filing Data

36,760

^[1]

Sep. 16, 2003

^[1]

04/04/2007

^[1]

04/26/2006

^[1]

M/T Assos

47,872

^[1]

Mar. 18, 2004

^[1]

08/16/2010 04/04/2007

^[1]

05/17/2006

^[1]

M/T Aktoras

36,759

^[1]

Aug. 27, 2003

^[1]

04/04/2007

^[1]

07/12/2006

^[1]

M/T Agisilaos

36,760

^[1]

Oct. 10, 2003

^[1]

04/04/2007

^[1]

08/16/2006

^[1]

M/T Arionas

36,725

^[1]

Nov. 10, 2003

^[1]

04/04/2007

^[1]

11/02/2006

^[1]

M/T Avax

47,834

^[1]

Feb. 10, 2004

^[1]

04/04/2007

^[1]

01/12/2007

^[1]

M/T Aiolos

36,725

^[1]

Sep. 12, 2003

^[1]

04/04/2007

^[1]

03/02/2007

^[1]

M/T Axios

47,872

^[1]

Feb. 10, 2004

^[1]

04/04/2007

^[1]

02/28/2007

^[1]

M/T Atrotos

47,786

^[1]

Feb. 11, 2004

^[1]

03/01/2010 05/08/2007

^[1]

05/08/2007

^[1]

M/T Akeraios

47,781

^[1]

Feb. 03, 2004

^[1]

07/13/2007

^[1]

07/13/2007

^[1]

M/T Apostolos

47,782

^[1]

May 26, 2004

^[1]

09/20/2007

^[1]

09/20/2007

^[1]

M/T Anemos I

47,782

^[1]

Jul. 08, 2004

^[1]

09/28/2007

^[1]

09/28/2007

^[1]

M/T Attikos

12,000

^[2]

Dec. 29, 2003

^[2]

09/24/2007

^[2]

01/20/2005

^[2]

M/T Alexandros II

51,258

^[1]

Feb. 07, 2006

^[1]

01/29/2008

^[1]

01/29/2008

^[1]

M/T Amore Mio II

159,982

^[2]

May 29, 2007

^[2]

03/27/2008

^[2]

07/31/2007

^[2]

M/T Aristofanis

12,000

^[2]

Feb. 03, 2004

^[2]

04/30/2008

^[2]

06/02/2005

^[2]

M/T Aristotelis II

51,226

^[1]

Feb. 07, 2006

^[1]

06/17/2008

^[1]

06/17/2008

^[1]

M/T Aris II

51,218

^[1]

Jan. 24, 2006

^[1]

08/20/2008

^[1]

08/20/2008

^[1]

M/T Agamemnon II

51,238

^[2]

Jul. 14, 2006

^[2]

04/07/2009

^[2]

11/24/2008

^[2]

M/T Ayrton II

51,260

^[1]

Jul. 14, 2006

^[1]

04/13/2009

^[1]

04/10/2009

^[1]

M/T Alkiviadis

36,721

^[1]

Jun. 22, 2004

^[1]

06/30/2010

^[1]

03/29/2006

^[1]

M/V Cape Agamemnon

179,221

Jun. 17, 2008

06/09/2011

01/25/2011

M/T Miltiadis M II

162,397

^[1]

Apr. 06, 2006

^[1]

09/30/2011

^[1]

04/26/2006

^[1]

M/T Amoureux

149,993

^[1]

Apr. 14, 2010

^[1]

09/30/2011

^[1]

M/T Aias

150,393

^[1]

Apr. 14, 2010

^[1]

09/30/2011

^[1]

M/V Agamemnon

108,892

Apr. 19, 2012

12/22/2012

06/28/2012

M/V Archimidis

108,892

Apr. 19, 2012

12/22/2012

06/22/2012

M/T Aristotelis

51,604

^[2]

Oct. 16, 2013

^[2]

11/28/2013

^[2]

M/V Hyundai Prestige

63,010

Apr. 08, 2011

09/11/2013

02/19/2013

M/V Hyundai Premium

63,010

Apr. 08, 2011

03/20/2013

03/11/2013

M/V Hyundai Paramount

63,010

Apr. 08, 2011

03/27/2013

03/27/2013

M/V Hyundai Privilege

63,010

Apr. 08, 2011

09/11/2013

05/31/2013

M/V Hyundai Platinum

63,010

Jul. 19, 2011

09/11/2013

06/14/2013

M/V CMA CGM Amazon

115,534

May 16, 2013

06/10/2015

06/10/2015

M/V CMA CGM Uruguay

115,639

May 16, 2013

09/18/2015

09/18/2015

M/T Active

50,136

^[1]

May 31, 2013

^[1]

03/31/2015

^[1]

03/31/2015

^[1]

M/T Amadeus

50,108

^[1]

May 31, 2013

^[1]

06/30/2015

^[1]

06/30/2015

^[1]

M/V CMA CGM Magdalena

115,639

Oct. 25, 2013

02/26/2016

02/26/2016

M/T Amor

49,999

^[1]

May 31, 2013

^[1]

10/24/2016

^[1]

09/30/2015

^[1]

M/T Aristaios

113,689

^[1]

Jul. 13, 2015

^[1]

01/17/2018

^[1]

01/10/2017

^[1]

M/T Anikitos

50,082

^[1]

Aug. 28, 2013

^[1]

05/04/2018

^[1]

Voyage Expenses and Vessel Operating Expenses [Abstract]

06/21/2016

^[1]

[1]	Companies part of the Crude and Product tanker business which were spun-off on March 27, 2019.
[2]	Vessels were disposed in the previous years.

Voyage Expenses and Vessel Operating Expenses (Tables)

12 Months Ended

Dec. 31, 2019

Voyage Expenses and Vessel Operating Expenses

	For the years ended December 31,
	2019	2018	2017
Voyage expenses:
Commissions	$ 1,952	$ 2,171	$1,977
Bunkers	89	4,360	1,384
Port expenses	4	2,217	1,053
Other	885	365	253

Total	$ 2,930	$ 9,113	$4,667

Vessel operating expenses:
Crew costs and related costs	$ 13,375	$ 14,794	$15,558
Insurance expense	1,796	2,112	2,436
Spares, repairs, maintenance and other expenses	5,001	4,396	4,412
Stores and lubricants	3,251	3,451	3,500
Management fees (Note 5)	3,917	4,221	4,466
Other operating expenses	3,209	1,674	1,492

Total	$ 30,549	$ 30,648	$ 31,864

Basis of Presentation and General Information - Additional Information (Details)	Dec. 31, 2019
Property Plant And Equipment
Number of vessels	11
Neo Panamax Container Carrier Vessels
Property Plant And Equipment
Number of vessels	10
Capesize Bulk Carrier
Property Plant And Equipment
Number of vessels	1

Document And Entity Information	12 Months Ended
Document And Entity Information	Dec. 31, 2019 shares
Document and Entity Information
Document Type	20-F
Document Period End Date	Dec. 31, 2019
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	2019
Document Fiscal Period Focus	FY
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Address Country	MH
Entity Interactive Data Current	Yes
Document Annual Report	true
Security 12b Title	Common units representing limited partnership interests
Document Transition Report	false
Document Shell Company Report	false
Common Limited Partner
Document and Entity Information
Entity's units outstanding	18,178,100
General Partner
Document and Entity Information
Entity's units outstanding	348,570
Preferred Limited Partner
Document and Entity Information
Entity's units outstanding	0

Above market acquired charters (Tables)

12 Months Ended

Dec. 31, 2019

Above market acquired charters [Abstract]

Above market acquired charters

Above market acquired charters	Book Value
Carrying amount as at January 1, 2018	$75,035

Amortization	$ (14,380)

Carrying amount as at December 31, 2018	$60,655

Amortization	$ (14,380)

Carrying amount as at December 31, 2019	$46,275

Above market acquired charter future amortization expense

For the year ending December 31,	Amount
2020	$11,696
2021	8,417
2022	8,371
2023	8,371
2024	8,326
Thereafter	1,094
Total	$ 46,275

Partners' Capital

12 Months Ended

Dec. 31, 2019

Partners' Capital [Abstract]

Partners' Capital

13. Partners’ Capital

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

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

•

less the amount of cash reserves established by our board of directors to:

•

provide for the proper conduct of the Partnership’s business (including reserves for future capital expenditures and for our anticipated credit needs);

•

comply with applicable law, any of the Partnership’s debt instruments, or other agreements; or

•

provide funds for distributions to the Partnership’s unit holders and to the general partner for any one or more of the next four quarters;

•

plus all cash on hand on the date of determination of available cash for the quarter resulting from working capital borrowings made after the end of the quarter. Working capital borrowings are generally borrowings that are made under our credit agreements and in all cases are used solely for working capital purposes or to pay distributions to partners subject to certain exceptions set forth in the Partnership Agreement.

General Partner Interest and IDRs: The general partner has a 1.88% 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. According to the Partnership Agreement, as amended in 2014, the following table illustrates the percentage allocations of the additional available cash from operating surplus among the unit holders and general partner up to the various target distribution levels. The amounts set forth under “Marginal Percentage Interest in Distributions” are the percentage interests of the unit holders and general partner in any available cash from operating surplus that is being distributed up to and including the corresponding amount in the column “Total Quarterly Distribution Target Amount per Unit,” until available cash from operating surplus the Partnership distributes reaches the next target distribution level, if any. The percentage interests shown for the unit holders and general partner for the minimum quarterly distribution are also applicable to quarterly distribution amounts that are less than the minimum quarterly distribution. The percentage interests shown below assume that the Partnership’s general partner maintains a 2% general partner interest and that it has not transferred its IDR.

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

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

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

•

first, 98% to all unit holders, pro rata, and 2% to our general partner, until we distribute for each outstanding unit an amount equal to the minimum quarterly distribution for that quarter; and

•

thereafter, in the manner described in the above table.

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 “Subscription Agreements”). The holders of the Class B Convertible Preferred Units had 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 should be adjusted upon the occurrence of certain events described in the 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), should 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 should be entitled to receive, in cash, 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 Subscription Agreements. The minimum quarterly Class B Convertible Preferred Unit Distribution Rate should 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 should 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 became payable whether or not any of the foregoing restrictions exist, whether or not there was sufficient Available Cash for the payment thereof and whether or not such distributions are authorized. A cumulative Class B Convertible Preferred Unit arrearage should 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 were converted into Common Units, the holder thereof should not be entitled to a Class B Convertible Preferred Unit distribution and a Common Unit distribution with respect to the same period, but should 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 should 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 Subscription Agreements then the holders’ rights with respect to the distribution for the Quarter in which the Partnership Mandatory Conversion Notice was received was as set forth in the Partnership Agreement.]

On March 27, 2019, in connection with the DSS Transaction, the Partnership redeemed and retired all outstanding Class B Convertible Preferred Units at 100% of par value, translating into a redemption price of $116,850, and paid to Class B Convertible Preferred Units holders the pro-rata dividends for the period from January 1, 2019 to March 27, 2019, which amounted to $2,652. The difference between the carrying amount of Class B Convertible Preferred Units at the time of their redemption and their redemption price amounted to $9,119. The difference was considered as deemed dividends to preferred unit holders and was presented as income attributable to preferred unit holders in the Partnership’s consolidated financial statements.

Common Units

On March 3, 2019 the board of directors of the Partnership approved a one for seven reverse unit split. Pursuant to the reverse split, every seven common units issued and outstanding as of March 27, 2019, the date of the reverse split, was converted into one common unit. The Partnership’s common units, immediately after the reverse split became effective, started trading on a split-adjusted basis on the Nasdaq Global Select Market.

The reverse split reduced the number of common units issued and outstanding from 127,246,692 to 18,178,100 common units and the number of general partner units issued and outstanding from 2,439,989 to 348,570 general partner units.

In September 2016, the Partnership entered into an equity distribution agreement with UBS Securities LLC (“UBS”) under which the Partnership could 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 provided that UBS, when it was acting as the Partnership’s sales agent, would be entitled to compensation of up to 2% of the gross sales price of the common units sold through UBS from time to time. As of December 31, 2019 the agreement with UBS was terminated. During 2019 and 2018, the Partnership did not issue any units under the ATM offering. During 2017, the Partnership issued 736,008 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.

As of December 31, 2019 and 2018 our partners’ capital included the following units:

	As of December 31, 2019	As of December 31, 2018
Common units	18,178,100	18,178,100
General partner units	348,570	348,570
Preferred units	-	12,983,333

Total partnership units	18,526,670	31,510,003

Consolidated Balance Sheets (Parentheticals) - shares	Dec. 31, 2019	Dec. 31, 2018
Consolidated Balance Sheets [Abstract]
Limited Partners - Common Units Issued (adjusted for the March 2019 Reverse Split)	18,178,100	18,178,100
Limited Partners - Common Units Outstanding (adjusted for the March 2019 Reverse Split)	18,178,100	18,178,100
Limited Partners - Preferred Units Issued	0	12,983,333
Limited Partners - Preferred Units Outstanding	0	12,983,333

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash flows from operating activities of continuing operations:
Net income / (loss) from continuing operations	$ 24,421	$ (7,611)	$ 15,795
Adjustments to reconcile net income / (loss) to net cash provided by operating activities of continuing operations:
Vessel depreciation and amortization (Note 6)	29,261	32,813	35,979
Amortization and write off of deferred financing costs	1,096	1,359	961
Amortization of above market acquired charters (Note 7)	14,380	14,380	14,380
Equity compensation expense (Note 14)	907	613	1,156
Impairment of vessel (Note 6)	0	28,805	3,282
Changes in operating assets and liabilities:
Trade accounts receivable	13,436	(11,354)	(2,275)
Prepayments and other assets	(1,195)	855	710
Inventories	45	1,147	(438)
Claims	(1,085)	0	0
Trade accounts payable	(9,406)	4,074	2,766
Due to related parties	(12,486)	3,508	(1,861)
Accrued liabilities	(9,558)	1,648	7,624
Deferred revenue	(3,585)	(10,059)	(11,542)
Dry docking costs paid	(954)	0	(609)
Net cash provided by operating activities of continuing operations	45,277	60,178	65,928
Cash flows from investing activities of continuing operations:
Vessel acquisitions and improvements including time charter agreements (Note 6)	(6,519)	(2,428)	(1,679)
Net proceeds from sale of vessels	0	39,789	0
Net cash (used in) / provided by investing activities of continuing operations	(6,519)	37,361	(1,679)
Cash flows from financing activities of continuing operations:
Proceeds from issuance of Partnership units (Note 13)	0	0	17,815
Expenses paid for issuance of Partnership units	0	0	(247)
Payments of long-term debt (Note 8)	(32,733)	(55,283)	(98,464)
Deferred financing costs paid	(788)	(72)	(3,803)
Redemption of Class B unit holders	(116,850)	0	0
Dividends paid (Note 13)	(28,771)	(52,600)	(51,630)
Net cash used in financing activities of continuing operations	(179,142)	(107,955)	(136,329)
Net decrease in cash, cash equivalents and restricted cash from continuing operations	(140,384)	(10,416)	(72,080)
Cash flows from discontinued operations
Operating activities	8,905	37,712	61,046
Investing activities	(1,484)	(41,837)	(359)
Financing activities	158,228	(18,557)	(31,988)
Net increase / (decrease) in cash, cash equivalents and restricted cash from discontinued operations	165,649	(22,682)	28,699
Net increase / (decrease) in cash, cash equivalents and restricted cash	25,265	(33,098)	(43,381)
Cash, cash equivalents and restricted cash at the beginning of the year	38,199	71,297	114,678
Cash, cash equivalents and restricted cash at the end of the year	63,464	38,199	71,297
Supplemental cash flow information
Cash paid for interest	20,138	24,952	19,646
Non-Cash Investing and Financing Activities
Capital expenditures included in liabilities	15,004	547	312
Offering expenses included in liabilities	0	0	35
Deferred financing costs included in liabilities	0	0	79
Capitalized dry docking costs included in liabilities	2,560	480	11
Assumption of loans regarding the acquisition of the shares of the companies owning the M/T Aristaios and the M/T Anikitos included in discontinued operations	0	43,958	0
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	57,964	21,203	53,297
Restricted cash - Non-current assets	5,500	16,996	18,000
Cash, cash equivalents and restricted cash at the end of the year	$ 63,464	$ 38,199	$ 71,297

Commitments and Contingencies (Tables)

12 Months Ended

Dec. 31, 2019

Commitments and Contingencies [Abstract]

Future minimum rental receipts

Year ending December 31,	Amount
2020	$109,355
2021	80,317
2022	79,296
2023	79,297
2024	63,738
Thereafter	8,254

Total	$420,257

Significant Accounting Policies (Policy)	12 Months Ended
Significant Accounting Policies (Policy)	Dec. 31, 2019
Significant Accounting Policies [Abstract]
Principles of Consolidation:	(a) Principles of Consolidation: The consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”), and include the accounts of the legal entities comprising the Partnership as discussed in Note 1. Intra-group balances and transactions have been eliminated upon consolidation.
Use of Estimates:	(b) Use of Estimates: The preparation of consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the amounts of revenues and expenses recognized during the reporting period. Actual results could differ from those estimates.
Accounting for Revenue, Voyage and Operating Expenses:	(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 or voyage charters. The time charter contracts are considered operating leases and therefore fall under the scope of Accounting Standard Codification (“ASC”) 842 and the voyage charter contracts fall under the scope of ASC 606 (Note 4). Vessel voyage expenses are direct expenses to voyage revenues and primarily consist of brokerage commissions, port expenses, canal dues and bunkers. Brokerage commissions are paid to shipbrokers for their time and efforts for negotiating and arranging charter party agreements on behalf of the Partnership and are expensed over the related charter period. All other voyage expenses are expensed as incurred, except for expenses during the ballast portion of the voyage (period between the contract date and the date of the vessel’s arrival to the load port). Any expenses incurred during the ballast portion of the voyage such as bunker expenses, canal tolls and port expenses are deferred and are recognized on a straight-line basis, in voyage expenses, over the voyage duration as the Partnership satisfies the performance obligations under the contract provided these costs are (1) incurred to fulfill a contract that we can specifically identify, (2) able to generate or enhance resources of the company that will be used to satisfy performance of the terms of the contract, and (3) expected to be recovered from the charterer. These costs are considered ‘contract fulfillment costs’ and are included in ‘prepayments and other assets’ in the consolidated balance sheets. Vessel operating expenses presented in the consolidated financial statements mainly consist of management fees payable to the Partnership’s managers and crew, repairs and maintenance, insurance, stores, spares, lubricants and other operating expenses. Vessel operating expenses are expensed as incurred.
Foreign Currency Transactions:	(d) Foreign Currency Transactions: The functional currency of the Partnership is the U.S. Dollar because the Partnership’s vessels operate in international shipping markets that utilize the U.S. Dollar as the functional currency. The accounting records of the Partnership are maintained in U.S. Dollars. Transactions involving other currencies during the year are converted into U.S. Dollars using the exchange rates in effect at the time of the transactions. At the balance sheet dates, monetary assets and liabilities, which are denominated in currencies other than the U.S. Dollar, are translated into the functional currency using the exchange rate at those dates. Gains or losses resulting from foreign currency transactions are included in “Other income” in the consolidated statements of comprehensive (loss) / income.
Cash and Cash Equivalents:	(e) Cash and Cash Equivalents: The Partnership considers highly liquid investments such as time deposits and certificates of deposit with an original maturity of three months or less to be cash equivalents.
Restricted Cash:	(f) Restricted cash: For the Partnership to comply with debt covenants under its credit facilities, it must maintain minimum cash deposits. Such deposits are considered by the Partnership to be restricted cash.
Trade Accounts Receivable:	(g) Trade Accounts Receivable: The amount shown as trade accounts receivable primarily consists of earned revenue that has not been billed yet or that 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. For the year ended December 31, 2019 the respective write off amounted to $6. For the year ended December 31, 2018 there were no write offs.
Inventories:	(h) Inventories: Inventories consist of consumable bunkers, lubricants, spares and stores and are stated at the lower of cost and net realizable value. Net realizable value is the estimated selling prices less reasonably predictable costs of disposal and transportation. The cost is determined by the first-in, first-out method.
Vessels Held for Sale:	(i) Vessels Held for Sale: The Partnership classifies vessels as being held for sale when the following criteria are met: (i) management is committed to sell the asset; (ii) the asset is available for immediate sale in its present condition; (iii) an active program to locate a buyer and other actions required to complete the plan to sell the asset have been initiated; (iv) the sale of the asset is probable, and transfer of the asset is expected to qualify for recognition as a completed sale within one year; (v) the asset is being actively marketed for sale at a price that is reasonable in relation to its current fair value; and (vi) actions required to complete the plan indicate that it is unlikely that significant changes to the plan will be made or that the plan will be withdrawn. Vessels classified as held for sale are measured at the lower of their carrying amount or fair value less costs to sell. These vessels are not depreciated once they meet the criteria to be classified as held for sale. If a plan to sell a vessel is cancelled, the Partnership reclassifies the vessel as held for use and re-measures it at the lower of (i) its carrying amount before the vessel was classified as held for sale, adjusted for any depreciation expense that would have been recognized if the vessel had been continuously classified as held and used and (ii) its fair value at the date of the subsequent decision not to sell.
Fixed Assets:	(j) Fixed Assets: Fixed assets consist of vessels, which are stated at cost, less accumulated depreciation. Vessel cost consists of the contract price for the vessel 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. Vessels acquired through asset acquisitions are recorded at cost. The cost of each of the Partnership’s vessels is depreciated, beginning when the vessel is ready for its intended use, on a straight-line basis over the vessel’s remaining economic useful life, after considering the estimated residual value. Management estimates the scrap value of the Partnership’s vessels to be $0.2 per light weight ton (LWT) and useful life to be 25 years.
Impairment of Long-Lived Assets:	(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, changing market conditions resulted in a decrease in charter rates and values of assets. 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, 2019 and 2018, 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, 2019 and 2018.
Deferred charges, net:	(l) Deferred charges, net: Deferred charges, net are comprised mainly of dry docking costs. The Partnership’s vessels are required to be dry docked every thirty to sixty months for major repairs and maintenance that cannot be performed while the vessels are under operation. The Partnership has adopted the deferral method of accounting for dry docking activities whereby costs incurred are deferred and amortized on a straight line basis over the period until the next scheduled dry docking activity.
Intangible assets:	(m) Intangible assets: The Partnership records all identified tangible and intangible assets or any liabilities associated with the acquisition of a business or an asset at fair value. When a vessel or a business that owns a vessel is acquired with an existing charter agreement, the Partnership considers whether any value should be assigned to the attached charter agreement acquired. The value to be assigned to the charter agreement is based on the difference of the contractual charter rate of the agreement acquired and the prevailing market rate for a charter of equivalent duration at the time of the acquisition, determined by independent appraisers as at that date. The resulting above-market (assets) or below-market (liabilities) charters are amortized using the straight line method as a reduction or increase, respectively, to revenues over the remaining term of the charters.
Net Income Per Limited Partner Unit:	(n) Net Income Per Limited Partner Unit: Basic net income per limited partner unit is calculated by dividing the Partnership’s net income less net income allocable to preferred unit holders, general partner’s interest in net income (including incentive distribution rights (“IDR”)) and net income allocable to unvested units, by the weighted-average number of common units outstanding during the period (Note 15). Diluted net income per limited partner unit reflects the potential dilution that could occur if securities or other contracts to issue limited partner units were exercised.
Segment Reporting:	(o) Segment Reporting: The Partnership reports financial information and evaluates its operations by charter revenues and not by the length, type of vessel or type of ship employment for its customers, i.e. time or 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.
Omnibus Incentive Compensation Plan:	(p) Omnibus Incentive Compensation Plan: Equity compensation expense represents vested and unvested units granted to employees and to non-employee directors, for their services as directors, as well as to non-employees and are included in general and administrative expenses in the consolidated statements of comprehensive (loss) / income. These units are measured at their fair value equal to the market value of the Partnership’s common units on the grant date. The units that contain a time-based service vesting condition are considered unvested units on the grant date and the total fair value of such units is recognized on a straight-line basis over the requisite service period (Note 14).
Recent Accounting Pronouncements:	(q) Recent Accounting Pronouncements: In June 2018 the Financial Accounting Standards Board (“FASB”) issued the Accounting Standards Update (“ASU”) 2018-07 which simplifies the accounting for share-based payments granted to nonemployees for goods and services. Under the ASU, most of the guidance on such payments to nonemployees was aligned with the requirements for share-based payments granted to employees. Accordingly, the ASU supersedes ASC 505-50 and expands the scope of ASC 718 to include all share-based payment arrangements related to the acquisition of goods and services from both nonemployees and employees. According to the amendments of this ASU and consistently with the accounting requirement for employee share based payment awards, nonemployee share-based payment awards within the scope of Topic 718 are measured at grant-date. The Partnership adopted this ASU for the reporting period commencing on January 1, 2019 with no significant impact on its financial statements. Please refer to Note 14 for further details. In February 2016, the FASB issued the ASU 2016-02, Leases (codified as ASC 842). The main provision of this ASU is the recognition of lease assets and lease liabilities by lessees for those leases classified as operating leases. The requirements of this standard include an increase in required disclosures. The Partnership’s time charter arrangements are subject to the requirements of the new Leases standard as the Partnership is 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, amended subsequently with ASU 2018-11 below adding an option to use certain transition relief. This standard is effective for public entities with reporting periods beginning after December 15, 2018, including interim periods within those years. Early adoption is permitted. In July 2018, the FASB issued ASU 2018-11 to provide entities with relief from the costs of implementing certain aspects of the new leases standard, ASU 2016-02. Specifically, under the amendments in ASU 2018-11: (a) Entities may elect not to recast the comparative periods presented when transitioning to ASC 842; and (b) Lessors may elect not to separate lease and non-lease components when the following criteria are met: Criterion A — the timing and pattern of transfer for the lease component is the same as those for the non-lease component associated with that lease component and Criterion B — the lease component, if accounted for separately, would be classified as an operating lease. The transition relief amendments in the ASU apply to entities that have not yet adopted ASC 842. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in Update 2016-02. In December 2018, the FASB issued ASU 2018-20 to provide narrow scope improvements for lessors. The amendments in this update related to sales taxes and other similar taxes collected from lessees affect all lessors that elect the accounting policy election. In addition, amendments in this update related to lessor costs affect all lessor entities that have lease contracts that either require lessees to pay lessor costs directly to a third party or require lessees to reimburse lessors for costs paid by lessors directly to third parties. Finally, the amendments in this update related to recognition of variable payments for contracts with lease and non-lease components affect all lessor entities with variable payments that relate to both lease and non-lease components. The effective date and transition requirements for the amendments in this update for entities that have not adopted Topic 842 before the issuance of this update are the same as the effective date and transition requirements in ASU 2016-02. Please refer to Note 4.

Accrued Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Accrued Liabilities [Abstract]

Accrued Liabilities

	As of December 31,
	2019	2018
Accrued loan interest and loan fees	$ 3,403	$ 5,701
Accrued operating expenses	5,339	5,519
Accrued capitalized expenses	4,263	—
Accrued voyage expenses and commissions	1,356	4,320
Accrued general and administrative expenses	1,795	1,200

Total	$ 16,156	$ 16,740

Accrued Liabilities

12 Months Ended

Dec. 31, 2019

Accrued Liabilities [Abstract]

Accrued Liabilities

10. Accrued Liabilities

Accrued liabilities consist of the following:

	As of December 31,
	2019	2018
Accrued loan interest and loan fees	$ 3,403	$ 5,701
Accrued operating expenses	5,339	5,519
Accrued capitalized expenses	4,263	—
Accrued voyage expenses and commissions	1,356	4,320
Accrued general and administrative expenses	1,795	1,200

Total	$ 16,156	$ 16,740

Basis of Presentation and General Information (Tables)

12 Months Ended

Dec. 31, 2019

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. (3)		09/16/2003		M/T Atlantas II		36,760		04/04/2007		04/26/2006
Canvey Shipmanagement Co. (3)		03/18/2004		M/T Assos		47,872		08/16/2010 04/04/2007		05/17/2006
Centurion Navigation Limited (3)		08/27/2003		M/T Aktoras		36,759		04/04/2007		07/12/2006
Polarwind Maritime S.A. (3)		10/10/2003		M/T Agisilaos		36,760		04/04/2007		08/16/2006
Carnation Shipping Company (3)		11/10/2003		M/T Arionas		36,725		04/04/2007		11/02/2006
Apollonas Shipping Company (3)		02/10/2004		M/T Avax		47,834		04/04/2007		01/12/2007
Tempest Maritime Inc. (3)		09/12/2003		M/T Aiolos		36,725		04/04/2007		03/02/2007
Iraklitos Shipping Company (3)		02/10/2004		M/T Axios		47,872		04/04/2007		02/28/2007
Epicurus Shipping Company (3)		02/11/2004		M/T Atrotos		47,786		03/01/2010 05/08/2007		05/08/2007
Laredo Maritime Inc. (3)		02/03/2004		M/T Akeraios		47,781		07/13/2007		07/13/2007
Lorenzo Shipmanagement Inc. (3)		05/26/2004		M/T Apostolos		47,782		09/20/2007		09/20/2007
Splendor Shipholding S.A. (3)		07/08/2004		M/T Anemos I		47,782		09/28/2007		09/28/2007
Ross Shipmanagement Co.		12/29/2003		M/T Attikos (1)		12,000		09/24/2007		01/20/2005
Sorrel Shipmanagement Inc. (3)		02/07/2006		M/T Alexandros II		51,258		01/29/2008		01/29/2008
Baymont Enterprises Incorporated		05/29/2007		M/T Amore Mio II (1)		159,982		03/27/2008		07/31/2007
Forbes Maritime Co.		02/03/2004		M/T Aristofanis (1)		12,000		04/30/2008		06/02/2005
Wind Dancer Shipping Inc. (3)		02/07/2006		M/T Aristotelis II		51,226		06/17/2008		06/17/2008
Belerion Maritime Co. (3)		01/24/2006		M/T Aris II		51,218		08/20/2008		08/20/2008
Mango Finance Corp.		07/14/2006		M/T Agamemnon II (1)		51,238		04/07/2009		11/24/2008
Navarro International S.A. (3)		07/14/2006		M/T Ayrton II		51,260		04/13/2009		04/10/2009
Adrian Shipholding Inc. (3)		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. (3)		04/06/2006		M/T Miltiadis M II		162,397		09/30/2011		04/26/2006
Amoureux Carriers Corp. (3)		04/14/2010		M/T Amoureux		149,993	09/30/2011		—
Aias Carriers Corp. (3)		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 (1)		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		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 CMA CGM Amazon		115,534		06/10/2015		06/10/2015
Poseidon Container Carrier S.A.	05/16/2013		M/V CMA CGM Uruguay		115,639		09/18/2015		09/18/2015
Isiodos Product Carrier S.A. (3)	05/31/2013		M/T Active		50,136		03/31/2015		03/31/2015
Titanas Product Carrier S.A. (3)	05/31/2013		M/T Amadeus		50,108		06/30/2015		06/30/2015
Atrotos Container Carrier S.A.	10/25/2013		M/V CMA CGM Magdalena		115,639		02/26/2016		02/26/2016
Filonikis Product Carrier S.A. (3)	05/31/2013		M/T Amor		49,999		10/24/2016		09/30/2015
Asterias Crude Carrier S.A. (3)	07/13/2015		M/T Aristaios		113,689		01/17/2018		01/10/2017
Iason Product Carrier S.A. (3)	08/28/2013		M/T Anikitos		50,082		05/04/2018		06/21/2016
Athena SpinCo Inc. (2, 3)	11/14/2018		—		—		—		—
Athena MergerCo 1 Inc. (2, 3)	11/14/2018		—		—		—		—
Athena MergerCo 2 Inc. (2, 3)	11/14/2018		—		—		—		—
Athena MergerCo 3 LLC. (2, 3)	11/14/2018		—		—		—		—
Athena MergerCo 4 LLC (2, 3)	11/14/2018		—		—		—		—

(1)	Vessels were disposed in the previous years.
(2)	Companies established for the purpose of the agreement between the Partnership and DSS.
(3)	Companies part of the Crude and Product tanker business which were spun-off on March 27, 2019.

Financial Instruments	12 Months Ended
Financial Instruments	Dec. 31, 2019
Financial Instruments [Abstract]
Financial Instruments	9. 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; and 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 to related parties, trade accounts payable and accrued liabilities approximates their fair value. The fair value of long-term variable rate bank loan approximates the recorded value, due to its 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 loan are similar to those that could be procured as of December 31, 2019. LIBOR rates are observable at commonly quoted intervals for the full term of the loans and hence bank loans are considered Level 2 items in accordance with the fair value hierarchy. (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 a limited number creditworthy financial institutions rated by qualified rating agencies. Most of the Partnership’s revenues were derived from a few charterers. For the year ended December 31, 2019, Hyundai Merchant Marine Co Ltd (“HMM”) and CMA CGM accounted for 40% and 39% of the Partnership’s total revenue from continuing operations, respectively. For the years ended December 31, 2018 and 2017 HMM and CMA CGM accounted for 38% and 36% of the Partnership’s total revenue from continuing operations, respectively.

Net Income / (Loss) from continuing operations Per Unit

12 Months Ended

Dec. 31, 2019

Net Income / (Loss) from continuing operations Per Unit [Abstract]

Net Income / (Loss) from continuing operations Per Unit

15. Net Income / (Loss) from continuing operations 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 13), which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves 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 13). The Partnership excluded the effect of the 12,983,333 Class B Convertible Preferred Units in calculating dilutive EPU for the years ended December 31, 2019, 2018 and 2017, as they were anti-dilutive.

For the year ended December 31, 2019 the Partnership excluded the effect of 428,958 unvested units under the omnibus incentive compensation plan in calculating dilutive EPU for its common unit holders as they were anti-dilutive.For the years ended December 31, 2018 and 2017 the Partnership excluded the effect of 77,857 units under the omnibus incentive compensation plan which vested in December 2018 (Note 14) in calculating dilutive EPU for its common unit holders as they were anti-dilutive. The non-vested units are participating securities because they received distributions from the Partnership and these distributions do not have to be returned to the Partnership if the non-vested units are forfeited by the grantee.

Excluding the non-cash vessels’ impairment charge, as this was not distributed to the Partnership’s unit holders for the year ended December 31, 2019 and 2018, the Partnership’s net income for the years ended December 31, 2019, 2018 and 2017 did not exceed the First Target Distribution Level, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP’s interest in net income.

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

BASIC AND DILUTED	2019	2018	2017
Numerators
Partnership’s net income / (loss) from continuing operations	$ 24,421	$ (7,611)	$ 15,795
Less:
Preferred unit holders’ interest in Partnership’s net income from continuing operations	2,652	11,101	11,101
Deemed dividend to preferred unit holders’ (Note 13)	9,119	-	-
General Partner’s interest in Partnership’s net income / (loss) from continuing operations	236	(352)	86
Partnership’s net income / (loss) from continuing operations allocable to unvested units	130	(103)	13
Common unit holders’ interest in Partnership’s net income / (loss) from continuing operations	$ 12,284	$ (18,257)	$ 4,595
Denominators
Weighted average number of common units outstanding, basic and diluted	18,178,144	18,100,455	17,692,192
Net income /(loss) from continuing operations per common unit:
Basic and Diluted	$ 0.68	$ (1.01)	$0.26

Consolidated Statements of Comprehensive (Loss) / Income - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenue:
Revenues (Note 4)	$ 108,374	$ 116,894	$ 106,696
Revenues - related party (Notes 4, 5)	0	701	9,976
Total Revenues	108,374	117,595	116,672
Expenses:
Voyage expenses (Note 11)	2,930	9,113	4,667
Vessel operating expenses (Note 11)	26,632	26,427	27,398
Vessel operating expenses - related parties (Notes 5, 11)	3,917	4,221	4,466
General and administrative expenses (Notes 5, 14)	5,502	5,713	6,236
Vessel depreciation and amortization (Note 6)	29,261	32,813	35,979
Impairment of vessels (Note 6)	0	28,805	3,282
Operating income	40,132	10,503	34,644
Other income / (expense), net:
Interest expense and finance cost (Note 8)	(17,036)	(18,964)	(19,963)
Other income	1,325	850	1,114
Total other expense, net	(15,711)	(18,114)	(18,849)
Partnership's net income / (loss) from continuing operations attributable to:	24,421	(7,611)	15,795
Preferred unit holders' interest in Partnership's net income from continuing operations	2,652	11,101	11,101
Deemed dividend to preferred unit holders' (Note 13)	9,119	0	0
General Partner's interest in Partnership's net income / (loss) from continuing operations	236	(352)	86
Common unit holders' interest in Partnership's net income / (loss) from continuing operations	12,414	(18,360)	4,608
Partnership's net (loss) / income from discontinued operations (Note 3)	(146,876)	7,507	22,688
Total Partnership's comprehensive (loss) / income	$ (122,455)	$ (104)	$ 38,483
Net income / (loss) from continuing operations per (Note 15):
Common unit, basic and diluted (adjusted for the March 2019 Reverse Split)	$ 0.68	$ (1.01)	$ 0.26
Weighted-average units outstanding:
Common units, basic and diluted (adjusted for the March 2019 Reverse Split)	18,178,144	18,100,455	17,692,192
Net (loss) / income from discontinued operations per:
Common unit, basic and diluted (adjusted for the March 2019 Reverse Split)	$ (7.93)	$ 0.41	$ 1.25
Net (loss) / income from operations per:
Common unit, basic and diluted (adjusted for the March 2019 Reverse Split)	$ (7.25)	$ (0.60)	$ 1.51

Long-Term Debt - Total Debt (Table) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument
Total long-term debt	$ 262,385	$ 295,118
Less: Deferred loan issuance costs	3,399	3,707
Total long-term debt, net	258,986	291,411
Less: Current portion of long-term debt	29,145	38,494
Add: Current portion of deferred loan issuance costs	2,148	1,015
Long-term debt, net	231,989	253,932
(i) Issued in September 2017 maturing in October 2023 (the “2017 credit facility”)
Debt Instrument
Total long-term debt	$ 262,385	$ 295,118
Margin	3.25%

Net Income / (Loss) from continuing operations Per Unit (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Numerators
Partnership's net income / (loss) from continuing operations	$ 24,421	$ (7,611)	$ 15,795
Less:
Preferred unit holders' interest in Partnership's net income from continuing operations	2,652	11,101	11,101
Deemed dividend to preferred unit holders' (Note 13)	9,119	0	0
General Partner's interest in Partnership's net income / (loss) from continuing operations	236	(352)	86
Partnership's net income /(loss) from continuing operations allocable to unvested units	130	(103)	13
Common unit holders' interest in Partnership's net income / (loss) from continuing operations	$ 12,284	$ (18,257)	$ 4,595
Denominators
Weighted average number of common units outstanding, basic and diluted	18,178,144	18,100,455	17,692,192
Net income /(loss) from continuing operations per common unit:
Basic and Diluted	$ 0.68	$ (1.01)	$ 0.26

Income Taxes	12 Months Ended
Income Taxes	Dec. 31, 2019
Income Taxes [Abstract]
Income Taxes	12. Income Taxes Under the laws of the Marshall Islands and Liberia, the countries in which the vessel-owning subsidiaries were incorporated, these companies are not subject to tax on international shipping income. However, they are subject to registration and tonnage taxes in the country in which the vessels are registered and managed from, and such taxes have been included in “Vessel operating expenses” in the consolidated statements of comprehensive (loss) / income. Pursuant to Section 883 of the United States Internal Revenue Code (the “Code”) and the regulations thereunder, a foreign corporation engaged in the international operation of ships is generally exempt from U.S. federal income tax on its U.S.-source shipping income if the foreign corporation meets both of the following requirements: (a) the foreign corporation is organized in a foreign country that grants an “equivalent exemption” to corporations organized in the United States for the types of shipping income (e.g., voyage and time charter) earned by the foreign corporation and (b) more than 50% of the voting power and value of the foreign corporation’s stock is “primarily and regularly traded on an established securities market” in the United States and certain other requirements are satisfied (the “Publicly-Traded Test”). Each of the jurisdictions where the Partnership’s vessel-owning subsidiaries are incorporated grants an “equivalent exemption” to United States corporations with respect to each type of shipping income earned by the Partnership’s vessel-owning subsidiaries. Additionally, our units are only traded on the Nasdaq Global Market, which is considered to be established securities market. The Partnership has satisfied the Publicly-Traded Test for the years ended December 31, 2019, 2018 and 2017 and the vessel-owning subsidiaries are exempt from United States federal income taxation with respect to U.S.-source shipping income.

Long-Term Debt - Additional Information (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019 USD ($)	Mar. 27, 2019 USD ($)	Dec. 31, 2019 USD ($)	Dec. 31, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Interest expense			$ 15,836	$ 17,422	$ 18,441
Weighted average interest rate			5.70%	5.40%
Repayment of credit facility			$ 32,733	$ 55,283	$ 98,464
2017 Credit Facility
Debt Instrument [Line Items]
Repayment of credit facility			$ 32,733	34,984
Amended 2017 Credit Facility
Debt Instrument [Line Items]
Repayment installments	19
Frequency of payments	quarterly
Repayment amount	$ 7,703
Balloon payment, payable together with the final quarterly installment	$ 139,130
Starting period of payment installments	Apr. 30, 2019
Maturity date	Dec. 31, 2023
Transaction Agreement with DSS Holdings L.P. \| Credit Facility 2015, Credit Facility 2017 and Aristaios Credit Facility
Debt Instrument [Line Items]
Repayment amount		$ 146,517
Transaction Agreement with DSS Holdings L.P. \| 2017 Credit Facility
Debt Instrument [Line Items]
Repayment amount		$ 89,298
In connection with the sale of M/T Aristotelis \| 2017 Credit Facility
Debt Instrument [Line Items]
Repayment of credit facility				14,383
In connection with the sale of M/T Amore Mio II \| 2017 Credit Facility
Debt Instrument [Line Items]
Repayment of credit facility				$ 5,916
CMA CGM Amazon, CMA CGM Uruguay and CMA CGM Magdalena
Debt Instrument [Line Items]
Sale leaseback term sheet date			Dec. 31, 2019
Sale and leaseback transaction gross cash inflow financing arrangement			$ 155,350
Debt instrument term			7 years
Debt variable rate basis			Libor
Margin			2.60%
Purchase option to acquire vessel under a financing arrangement			$ 77,700
CMA CGM Amazon, CMA CGM Uruguay and CMA CGM Magdalena \| 2017 Credit Facility
Debt Instrument [Line Items]
Repayment of credit facility			$ 119,923

Revenues from continuing operations (Tables)

12 Months Ended

Dec. 31, 2019

Revenue Recognition [Abstract]

Disaggregation of revenue

	For the years ended December 31,
	2019	2018	2017
Time charters (operating leases)	$ 108,374	$ 107,923	$ 112,499
Voyage charters	$ -	$ 9,672	$ 4,173
Total	$ 108,374	$ 117,595	$ 116,672

Revenues from continuing operations

12 Months Ended

Dec. 31, 2019

Revenue Recognition [Abstract]

Revenues from continuing operations

4. Revenues from continuing operations

The following table shows the revenues from continuing operations earned from time and voyage charters contracts for the years ended December 31, 2019, 2018 and 2017:

	For the years ended December 31,
	2019	2018	2017
Time charters (operating leases)	$ 108,374	$ 107,923	$ 112,499
Voyage charters	$ -	$ 9,672	$ 4,173
Total	$ 108,374	$ 117,595	$ 116,672

Time charters contracts

A time charter is a contract for the use of a vessel for a specific period of time and a specified daily charter hire rate, which is generally payable in advance. A time charter generally provides typical warranties and owner protective restrictions. The performance obligations in a time charter are satisfied over the term of the contract beginning when the vessel is delivered to the charterer until it is redelivered back to the owner of the vessel. The time charter contracts are considered operating leases and therefore fall under the scope of ASC 842 because (i) the vessel is an identifiable asset (ii) the owner of the vessel does not have substantive substitution rights and (iii) the charterer has the right to control the use of the vessel during the term of the contract and derives the economic benefits from such use. Revenues from time charters are recognized ratably on a straight line basis over the period of the respective charter. Under time charter agreements, all voyages expenses, except commissions are assumed by the charterer. Operating costs incurred for running the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants are paid by the Partnership under time charter agreements.

The transition guidance associated with ASC 842 allows for certain practical expedients to the lessors. The Partnership elected to not separate the lease and non-lease components included in the time charter revenue because the pattern of revenue recognition for the lease and non-lease components (included in the daily hire rate) is the same and the lease component, if accounted for separately, would be classified as an operating lease. The daily hire rate represents the hire rate for a time charter as well as the compensation for expenses for operating and maintaining the vessel such as crew costs, vessel insurance, repairs and maintenance and lubricants. Both the lease and non-lease components are earned by passage of time. The Partnership adopted ASC 842 for the reporting period commencing on January 1, 2019 using the modified retrospective method and elected the practical expedients under ASU 2018-11 for the vessels under time charter agreements. Furthermore, the Partnership applied the transition provisions of ASU 2016-02 at its adoption date, rather than the earliest comparative period presented in the financial statements, as permitted by ASU 2018-11. The nature of the lease component and non-lease component that were combined as a result of applying the practical expedient are the contract for the hire of a vessel and the fees for operating and maintaining the vessel respectively. The lease component is the predominant component and the Partnership accounts for the combined component as an operating lease in accordance with Topic 842. The Partnership applied topic 842 with no significant impact on its financial statements and as a result no adjustment was posted in the Partnership’s opening retained earnings as of January 1, 2019.

Voyage charters contracts

A voyage charter is a contract in which the vessel owner undertakes to transport a specific amount and type of cargo on a load port-to-discharge port basis, subject to various cargo handling terms. The Partnership accounts for a voyage charter when all the following criteria are met: (1) the parties to the contract have approved the contract in the form of a written charter agreement and are committed to perform their respective obligations, (2) the Partnership can identify each party’s rights regarding the services to be transferred, (3) the Partnership can identify the payment terms for the services to be transferred, (4) the charter agreement has commercial substance (that is, the risk, timing, or amount of the Partnership’s future cash flows is expected to change as a result of the contract) and (5) it is probable that the Partnership will collect substantially all of the consideration to which it will be entitled in exchange for the services that will be transferred to the charterer. The Partnership determined that its voyage charters consist of a single performance obligation which is met evenly as the voyage progresses and begin to be satisfied once the vessel is ready to load the cargo. The voyage charter party agreement generally has a demurrage clause according to which the charterer reimburses the vessel owner for any potential delays exceeding the allowed lay-time as per the charter party clause at the ports visited which is recorded as demurrage revenue. Revenues from voyage charters are recognized on a straight line basis over the voyage duration which commences once the vessel is ready to load the cargo and terminates upon the completion of the discharge of the cargo.

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

The Partnership adopted the provisions of ASC 606 on January 1, 2018 using the modified retrospective approach for contracts that are not completed at the date of initial application. As such, the comparative information has not been restated and continues to be reported under the accounting standards in effect for periods prior to January 1, 2018. The effect of the implementation of this update was insignificant as most of the Partnership’s vessels were operated under time charter arrangements as of December 31, 2017 and as a result no adjustment was posted in the Partnership’s opening retained earnings as of January 1, 2018.

Payment terms under voyage charters are disclosed in the relevant voyage charter agreements. 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 at the agreed upon port, and deemed to end upon the completion of discharge of the delivered cargo.

Further, the adoption of ASC 606 impacted the accounts receivable, the prepayments and other assets and the current liabilities on Partnership’s balance sheet as of December 31, 2018. Under ASC 606, receivables represent an entity’s unconditional right to consideration, whether billed or unbilled. As of December 31, 2019 and 2018 prepayments and other assets include bunker expenses of $0 and $397, respectively, incurred between the contract date and the date of the vessel’s arrival to the load port. As of December 31, 2019 there was no unearned revenue related to undelivered performance obligation. As of December 31, 2018 the unearned revenue related to undelivered performance obligations amounted to $371. The Partnership recognized this revenue in the first quarter of 2019 as the performance obligations were met.

Long-Term Debt - Annual Loan Payments (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
2020	$ 29,145
2021	27,397
2022	27,397
2023	101,014
2024	11,093
Thereafter	66,339
Total	$ 262,385	$ 295,118

Discontinued Operations - Balance Sheet (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Carrying amounts of major classes of assets included as part of discontinued operations
Cash		$ 10,000
Inventories		7,183
Prepayments and other assets		6,515
Total major classes of current assets of discontinued operations	$ 0	23,698
Vessels		643,682
Deferred charges, net		2,220
Above market acquired charters		7,531
Prepayments and other assets		1,035
Total major classes of non-current assets of discontinued operations	0	654,468
Total major classes of assets of discontinued operations		678,166
Carrying amounts of major classes of liabilities included as part of discontinued operations
Current portion of long-term debt, net		14,869
Deferred revenue		1,611
Trade accounts payables and accrued liabilities		5,055
Total major classes of current liabilities of discontinued operations	0	21,535
Long-term debt, net		134,744
Total major classes of long term liabilities of discontinued operations	$ 0	134,744
Total major classes of liabilities of the discontinued operations		$ 156,279

Transactions with Related Parties (Tables)

12 Months Ended

Dec. 31, 2019

Transactions with Related Parties [Abstract]

Balances and Transactions with Related Parties

Consolidated Balance Sheets	As of December 31, 2019		As of December 31, 2018
Liabilities:
CSM – payments on behalf of the Partnership (a)	$	3,151	$	16,638
Management fee payable to CSM (b)		55		1,104
Capital-Executive – payments on behalf of the Partnership (a)		1,745		-
Management fee payable to Capital-Executive (b)		305		-
Due to related parties	$	5,256	$	17,742

Consolidated Statements of Comprehensive (Loss)/Income	For the years ended December 31,
Consolidated Statements of Comprehensive (Loss)/Income	2019		2018		2017
Revenues (c)	$	-	$	701	$	9,976
Vessel operating expenses		3,917		4,221		4,466
General and administrative expenses (d)		2,146		1,922		1,983

Charter Agreements

Vessel Name

Time

Charter (TC)

in years

Commencement of

Charter

Termination

Gross (Net) Daily

Hire Rate

M/T Aristotelis

1.0

01/2017

03/2018

$13.8 ($13.6)

Above market acquired charters - Amortization Schedule (Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
For the year ending December 31,
2020	$ 11,696
2021	8,417
2022	8,371
2023	8,371
2024	8,326
Thereafter	1,094
Total	$ 46,275	$ 60,655	$ 75,035

Discontinued Operations (Tables)

12 Months Ended

Dec. 31, 2019

Discontinued Operations

Major items constituting net (loss) / income from discontinued operations	For the years ended December 31,
	2019*	2018	2017
Revenues	$ 46,172	$ 161,659	$ 132,443
Expenses
Voyage expenses	12,655	37,202	10,498
Vessel operating expenses	15,506	68,406	54,281
General and administrative expenses	2,564	—	—
Vessel depreciation and amortization	9,630	40,276	38,014
Impairment of vessels	149,578	—	—
Interest expense and finance cost	3,174	8,433	6,642
Other (income) / expenses	(59)	(165)	320
Net (loss) / income from discontinued operations	$ (146,876)	$ 7,507	$ 22,688

*represents activity for the period from January 1, 2019 to the date of the completion of the DSS Transaction on March 27, 2019.

Carrying amounts of major classes of assets included as part of discontinued operations		As of December 31, 2018
Cash	$	10,000
Inventories		7,183
Prepayments and other assets		6,515
Total major classes of current assets of discontinued operations		23,698
Vessels		643,682
Deferred charges, net		2,220
Above market acquired charters		7,531
Prepayments and other assets		1,035
Total major classes of non-current assets of discontinued operations		654,468
Total major classes of assets of discontinued operations	$	678,166
Carrying amounts of major classes of liabilities included as part of discontinued operations
Current portion of long-term debt, net	$	14,869
Deferred revenue		1,611
Trade accounts payables and accrued liabilities		5,055
Total major classes of current liabilities of discontinued operations		21,535
Long-term debt, net		134,744
Total major classes of long term liabilities of discontinued operations		134,744
Total major classes of liabilities of the discontinued operations	$	156,279

- Definition

Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component.

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+ Details

Consolidated Statements of Changes in Partners' Capital (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Limited Partners Common
Distributions declared and paid (adjusted for the March 2019 Reverse Split)	$ 1.26	$ 2.24	$ 2.24
Limited Partners Preferred
Distributions declared and paid (adjusted for the March 2019 Reverse Split)	$ 0.42	$ 0.86	$ 0.86

Basis of Presentation and General Information - Supplementary (Table) (Details)

12 Months Ended

Dec. 31, 2019

Capital Product Operating LLC

Subsidiary Of Limited Liability Company Or Limited Partnership

Subsidiary Of Limited Liability Company Or Limited Partnership

Jan. 16, 2007

Crude Carriers Corp.

Oct. 29, 2009

Crude Carriers Operating Corp.

09/30/2011

Subsidiary Of Limited Liability Company Or Limited Partnership

Jan. 21, 2010

Subsidiary Of Limited Liability Company Or Limited Partnership

09/30/2011

Miltiadis M II Corp.

Subsidiary Of Limited Liability Company Or Limited Partnership

Aug. 28, 2012

Athena SpinCo Inc.

Subsidiary Of Limited Liability Company Or Limited Partnership

Nov. 14, 2018

^[1],[2]

Athena MergerCo 1 Inc.

Subsidiary Of Limited Liability Company Or Limited Partnership

Nov. 14, 2018

^[1],[2]

Athena MergerCo 2 Inc.

Subsidiary Of Limited Liability Company Or Limited Partnership

Nov. 14, 2018

^[1],[2]

Athena MergerCo 3 LLC.

Subsidiary Of Limited Liability Company Or Limited Partnership

Nov. 14, 2018

^[1],[2]

Athena MergerCo 4 LLC