View Filing Data

Print Document View Excel Document

Document And Entity Information	6 Months Ended
Document And Entity Information	Jun. 30, 2017 shares
Document and Entity Information
Document Type	6-K
Document Period End Date	Jun. 30, 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	Q2
General Partner
Document and Entity Information
Entity's units outstanding	2,439,989
Common Limited Partner
Document and Entity Information
Entity's units outstanding	123,631,036
Preferred Limited Partner
Document and Entity Information
Entity's units outstanding	12,983,333

Unaudited Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Current assets
Cash and cash equivalents	$ 138,302	$ 106,678
Trade accounts receivable, net	2,139	2,497
Prepayments and other assets	2,611	3,943
Inventories	4,378	4,761
Total current assets	147,430	117,879
Fixed assets
Vessels, net (Note 4)	1,332,986	1,367,731
Total fixed assets	1,332,986	1,367,731
Other non-current assets
Above market acquired charters (Note 5)	82,499	90,243
Deferred charges, net	2,773	4,154
Restricted cash	18,000	18,000
Prepayments and other assets	1,579	598
Total non-current assets	1,437,837	1,480,726
Total assets	1,585,267	1,598,605
Current liabilities
Current portion of long-term debt, net (Note 6)	96,970	39,568
Trade accounts payable	11,095	8,686
Due to related parties (Note 3)	9,656	16,095
Accrued liabilities	7,941	7,861
Deferred revenue, current (Note 3)	21,795	19,986
Total current liabilities	147,457	92,196
Long-term liabilities
Long-term debt, net (Note 6)	497,011	562,619
Deferred revenue	11,018	16,033
Total long-term liabilities	508,029	578,652
Total liabilities	655,486	670,848
Commitments and contingencies (Note 11)
Partners' capital (Note 8)	929,781	927,757
Total liabilities and partners' capital	$ 1,585,267	$ 1,598,605

Unaudited Condensed Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Revenue:
Revenues	$ 100,164	$ 99,748
Revenues - related party (Note 3)	22,167	19,203
Total revenues	122,331	118,951
Expenses:
Voyage expenses	5,825	4,012
Voyage expenses - related party (Note 3)	0	189
Vessel operating expenses	35,984	32,691
Vessel operating expenses - related party (Note 3)	5,685	5,301
General and administrative expenses (Note 3)	2,975	2,721
Vessel depreciation and amortization (Note 4)	37,070	35,390
Operating income	34,792	38,647
Other income / (expense), net:
Interest expense and finance cost (Note 6)	(13,059)	(12,059)
Interest and other income	339	387
Total other expense, net	(12,720)	(11,672)
Partnership's net income	22,072	26,975
Preferred unit holders' interest in Partnership's net income	5,550	5,550
General Partner's interest in Partnership's net income	320	426
Common unit holders' interest in Partnership's net income	$ 16,202	$ 20,999
Net income per (Note 10):
Common unit, basic and diluted	$ 0.13	$ 0.17
Weighted-average units outstanding:
Common units, basic and diluted	122,441,607	119,559,456
Total comprehensive income:	$ 22,072	$ 26,975

Unaudited Condensed Consolidated Statements of Changes in Partners' Capital - USD ($) $ in Thousands	Total	General Partner	Common Unitholders	Preferred Unitholders
Balance at Dec. 31, 2015	$ 937,820	$ 16,998	$ 810,239	$ 110,583
Partnership's net income	26,975	426	20,999	5,550
Dividends declared and paid (Note 8)	(44,142)	(765)	(37,749)	(5,628)
Equity compensation expense (Note 9)	525		525
Balance at Jun. 30, 2016	921,178	16,659	794,014	110,505
Balance at Dec. 31, 2016	927,757	16,685	800,566	110,506
Partnership's net income	22,072	320	16,202	5,550
Dividends declared and paid (Note 8)	(25,619)	(390)	(19,679)	(5,550)
Issuance of Partnership's units (Note 8)	4,993		4,993
Equity compensation expense (Note 9)	578		578
Balance at Jun. 30, 2017	$ 929,781	$ 16,615	$ 802,660	$ 110,506

Unaudited Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Cash flows from operating activities:
Net income	$ 22,072	$ 26,975
Adjustments to reconcile net income to net cash provided by operating activities:
Vessel depreciation and amortization (Note 4)	37,070	35,390
Amortization and write off of deferred financing costs	485	773
Amortization of above market acquired charters (Note 5)	7,744	7,060
Equity compensation expense (Note 9)	578	525
Changes in operating assets and liabilities:
Trade accounts receivable net	358	(427)
Prepayments and other assets	351	(1,722)
Inventories	383	(897)
Trade accounts payable	3,511	2,271
Due to related parties	(6,439)	(8,387)
Accrued liabilities	468	(77)
Deferred revenue	(3,206)	(2,154)
Dry-docking costs paid	(1,055)	(1,826)
Net cash provided by operating activities	62,320	57,504
Cash flows from investing activities:
Vessel acquisitions and improvements including time charter agreements (Note 4)	(1,386)	(74,038)
Increase in restricted cash	0	(500)
Net cash used in investing activities	(1,386)	(74,538)
Cash flows from financing activities:
Proceeds from issuance of Partnership units (Note 8)	5,120	0
Expenses paid for issuance of Partnership units	(120)	0
Proceeds from issuance of long-term debt	0	35,000
Deferred financing costs paid	(14)	(89)
Payments of long-term debt (Note 6)	(8,677)	(8,677)
Dividends paid (Note 8)	(25,619)	(44,142)
Net cash used in financing activities	(29,310)	(17,908)
Net increase / (decrease) in cash and cash equivalents	31,624	(34,942)
Cash and cash equivalents at beginning of period	106,678	90,190
Cash and cash equivalents at end of period	138,302	55,248
Supplemental Cash Flow Information
Cash paid for interest	12,547	12,221
Non-Cash Investing and Financing Activities
Offering expenses included in liabilities	113	0
Capital expenditures included in liabilities	941	613
Capitalized dry docking costs included in liabilities	$ 86	$ 1,354

Basis of Presentation and General Information	6 Months Ended
Basis of Presentation and General Information	Jun. 30, 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. (the “Partnership”) was formed on January 16, 2007, under the laws of the Marshall Islands. The Partnership is an international shipping company. Its fleet of thirty-six high specification vessels consists of four suezmax crude oil tankers, twenty-one modern medium range tankers all of which are classed as IMO II/III vessels, ten post panamax container carrier vessels and one capesize bulk carrier. Its vessels are capable of carrying a wide range of cargoes, including crude oil, refined oil products, (such as gasoline, diesel, fuel oil and jet fuel), edible oils and certain chemicals such as ethanol as well as dry cargo and containerized goods under short-term voyage charters and medium to long-term time and bareboat charters. The accompanying unaudited condensed consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States (“U.S. GAAP”) for interim financial information. Accordingly, they do not include all the information and notes required by U.S. GAAP for complete financial statements. These unaudited condensed consolidated financial statements and the accompanying notes should be read in conjunction with the Partnership's consolidated financial statements for the year ended December 31, 2016, included in the Partnership's Annual Report on Form 20-F for the fiscal year ended December 31, 2016, filed with the U.S. Securities and Exchange Commission (the “SEC”) on February 3, 2017. These unaudited condensed consolidated financial statements have been prepared on the same basis as the annual financial statements and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments considered necessary for a fair presentation of the Partnership's financial position, results of operations and cash flows for the periods presented. Operating results for the six-month period ended June 30, 2017 are not necessarily indicative of the results that might be expected for the fiscal year ending December 31, 2017.

Significant Accounting Policies	6 Months Ended
Significant Accounting Policies	Jun. 30, 2017
Significant Accounting Policies [Abstract]
Significant Accounting Policies	2. Significant Accounting Policies A discussion of the Partnership's significant accounting policies can be found in the Partnership's Consolidated Financial Statements included in the Annual Report on Form 20-F for the year ended December 31, 2016 (the “Consolidated Financial Statements for the year ended December 31, 2016”). Changes in Accounting Policies During the six-month period ended June 30, 2017, we adopted ASU 2015-11, Simplifying the Measurement of Inventory and ASU No 2016-09, Stock Compensation. The adoption of these ASU's had no impact on our unaudited interim condensed consolidated financial statements.

Transactions with Related Parties

6 Months Ended

Jun. 30, 2017

Transactions with Related Parties [Abstract]

Transactions with Related Parties

3. Transactions with Related Parties

The Partnership and its subsidiaries have related-party transactions with Capital Maritime & Trading Corp. (“CMTC”) which is a related party unit holder. The Partnership and its subsidiaries have also related party transactions with Capital Ship Management Corp. (the “Manager” or “CSM”) arising from certain terms of the following three different types of management agreements.

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 six-month periods ended June 30, 2017 and 2016 management fees under the fixed fee management agreement amounted to $278 and $508, respectively and are included in “Vessel operating expenses - related party” in the accompanying condensed consolidated statements of comprehensive income. 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 a management agreement with its Manager based on actual expenses with an initial term of five years. 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 six-month periods ended June 30, 2017 and 2016 management fees under the floating fee management agreement amounted to $4,893 and $4,287, respectively and are included in “Vessel operating expenses - related party” in the accompanying condensed consolidated statements of comprehensive income; 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 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 six-month periods ended June 30, 2017 and 2016 management fees under the crude management agreement amounted to $514 and $506, respectively and are included in “Vessel operating expenses - related party” in the accompanying condensed consolidated statements of comprehensive income. The Partnership also pays 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 and purchase fee equal to 1% of the gross purchase or sale price upon the consummation of any purchase or sale of a vessel acquired by Crude ; and

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

Effective from January 1, 2017 the Manager agreed to waive going forward (b) 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 (c) 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 six month period ended June 30, 2016 such commercial services amounted to $189, and are included in “Voyage expenses - related party” in the accompanying condensed 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 condensed consolidated statements of comprehensive income.

On April 4, 2007, the Partnership entered into an administrative services agreement with the Manager, pursuant to which the Manager 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 unaudited condensed 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 six-month periods ended June 30, 2017 and 2016 such fees amounted to $844, for each period, and are included in “General and administrative expenses” in the accompanying condensed consolidated statements of comprehensive income.

Balances and transactions with related parties consisted of the following:


Consolidated Balance Sheets		As of June 30, 2017			As of December 31, 2016
Liabilities:
Manager - payments on behalf of the Partnership (a)				$8,678			$15,126
Management fee payable to CSM (b)				978			969
Due to related parties				$9,656			$16,095
Deferred revenue - current (e)				4,372			2,925
Total liabilities				$14,028			$19,020

Consolidated Statements of Comprehensive Income	For the six-month periods ended June 30,
	2017					2016
Revenues (c)	$		22,167			$		19,203
Voyage expenses			—					189
Vessel operating expenses			5,685					5,301
General and administrative expenses (d)			1,000					1,042

(a)	Manager - Payments on Behalf of Capital Product Partners L.P.: 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 amounts outstanding as of June 30, 2017 and December 31, 2016 represent 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 during the six-month periods ended June 30, 2017 and 2016:

Vessel Name		Contracted period of Time Charters 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	12/2017	$11.0 ($10.9)
M/T Amore Mio II		0.9	08/2016	07/2017	$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	12/2017	$13.8 ($13.6)
M/T Ayrton II		2.0	02/2016	01/2018	$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	07/2017	$25.0 ($24.7)
M/T Amadeus		2.0	06/2015	07/2017	$17.0 ($16.8)
M/T Atlantas II		1.0	10/2016	08/2017	$13.0 ($12.8)
Μ/Τ Amoureux		1.0	04/2017	03/2018	$22.0 ($22.0)

(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 June 30, 2017 and December 31, 2016 the Partnership had received cash in advance for revenue earned in a subsequent period from CMTC.

Vessels, net

6 Months Ended

Jun. 30, 2017

Property Plant And Equipment [Abstract]

Fixed assets

4. Vessels, net

An analysis of vessels is as follows:


	Vessel Cost		Accumulated depreciation			Net book value
Balance as at January 1, 2017	$	1,775,689	$	(407,958	)	$	1,367,731

Improvements		944		—			944
Depreciation for the period		—		(35,689	)		(35,689	)

Balance as at June 30, 2017	$	1,776,633	$	(443,647)		$	1,332,986

All of the Partnership's vessels as of June 30, 2017 have been provided as collateral to secure the Partnership's credit facilities.

During the six-month period ended June 30, 2017, the M/V Agamemnon, the M/T Amore Mio II, the M/T Miltiadis M II, the M/T Ayrton II and the M/T Axios underwent improvements. The costs of these improvements for these vessels amounted to $944 and were capitalized as part of the vessels' cost.

Above market acquired charters

6 Months Ended

Jun. 30, 2017

Above market acquired charters [Abstract]

Above market acquired charters

5. Above market acquired charters

For the six-month periods ended June 30, 2017 and 2016, revenues included a reduction of $7,744 and $7,060 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, 2017	$	90,243

Amortization	$	(7,744	)
Carrying amount as at June 30, 2017	$	82,499

As of June 30, 2017 the remaining carrying amount of unamortized above market acquired time charters was $82,499 and will be amortized in future years as follows:


For the twelve month period ended June 30,	Amount
2018	$	14,596
2019	$	14,381
2020	$	14,396
2021	$	8,746
2022	$	8,372
Thereafter	$	22,008
Total	$	82,499

Long-Term Debt

6 Months Ended

Jun. 30, 2017

Long-Term Debt [Abstract]

Long-Term Debt

6. Long-Term Debt

As of June 30, 2017 and December 31, 2016 the Partnership's long-term debt consisted of the following:


	Bank loans	As of June 30, 2017		As of December 31, 2016		Margin
(i)	Issued in March 2007 maturing in December 2019 (the “2007 credit facility”)		185,975		185,975	3.00%
(ii)	Issued in March 2008 maturing in December 2019 (the “2008 credit facility”)		181,641		181,641	3.00%
(iii)	Issued in June 2011 maturing in March 2018 (the “2011 credit facility”)		14,000		14,000	3.25%
(iv)	Issued in September 2013 maturing in December 2020 (the “2013 credit facility”)		198,969		207,646	3.50%
(v)	Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”)		15,750		15,750	2.50%
	Total long-term debt	$	596,335	$	605,012
	Less: Deferred loan issuance costs		2,354		2,825
	Total long-term debt, net	$	593,981	$	602,187
	Less: Current portion of long-term debt		97,893		40,534
	Add: Current portion of deferred loan issuance costs		923		966
	Long-term debt, net	$	497,011	$	562,619

Details of the Partnership's credit facilities are discussed in Note 7 of the Partnership's Consolidated Financial Statements for the year ended December 31, 2016.

On May 22, 2017, the Partnership entered into a firm offer letter for a new senior secured term loan facility (the “New Facility”) for an aggregate principal amount of up to $460,000 with a syndicate of lenders led by HSH Nordbank AG (“HSH”) and ING Bank N.V. (“ING”). We intend to use the net proceeds of the loans under the New Facility, together with available cash to refinance four of the Partnership's existing credit facilities: (i) the 2007 credit facility, (ii) the 2008 credit facility, (iii) the 2011 credit facility and (iv) the 2013 credit facility. The New Facility has a six year maturity from drawdown, but it will be repayable in any event no later than November 2023. The New Facility is comprised of two tranches. Tranche A amounts to the lower of (i) $259,000 and (ii) 57.5% of the value of 11 of the Partnership's vessels, and shall be repaid in 24 equal quarterly instalments of up to $4,833 in addition to a balloon instalment of $143,008 (payable together with the final quarterly instalment). Tranche B amounts to the lower of (i) $201,000 and (ii) 57.5% of the value of 24 of the Partnership's vessels, and shall be repaid fully in 24 equal quarterly instalments of up to $8,375. The loans drawn under the New Facility will bear interest at LIBOR plus a margin of 3.25%. The Partnership's covenants under the New Facility are substantially similar to covenants made under the Partnership's existing credit facilities and do not contain any restrictions on distributions to our unit holders in the absence of an event of default.

During the six-month period ended June 30, 2017 the Partnership repaid the amount of $8,677 in line with the amortization schedule of its 2013 credit facility. As of June 30, 2017 there were no undrawn amounts under the Partnership's credit facilities.

As of June 30, 2017 and December 31, 2016 the Partnership was in compliance with all financial debt covenants.

For the six-month periods ended June 30, 2017 and 2016 interest expense amounted to $12,481 and $11,055, respectively. For the six-month periods ended June 30, 2017 and 2016 the weighted average interest rate of the Partnership's loan facilities was 4.14% and 3.70% respectively.

Financial Instruments	6 Months Ended
Financial Instruments	Jun. 30, 2017
Financial Instruments [Abstract]
Financial Instruments	7. Financial Instruments The Partnership follows the accounting guidance for financial instruments that establishes a framework for measuring fair value under generally accepted accounting principles, and expands disclosure about fair value measurements. This guidance enables the reader of the financial statements to assess the inputs used to develop those measurements by establishing a hierarchy for ranking the quality and reliability of the information used to determine fair values. The statement requires that assets and liabilities carried at fair value will be classified and disclosed in one of the following three categories: Level 1: Inputs are quoted prices (unadjusted) in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date; Level 2: Inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly; Level 3: Inputs are unobservable inputs for the asset or liability. (a) Fair value of financial instruments The carrying value of cash and cash equivalents and restricted cash, which are considered Level 1 items as they represent liquid assets with short-term maturities, trade receivables, due to related parties, trade accounts payable and accrued liabilities approximates their fair value. The fair values of long-term variable rate bank loans approximate the recorded values, due to their variable interest being the LIBOR and due to the fact the lenders have the ability to pass on their funding cost to the Partnership under certain circumstances, which reflects their current assessed risk. We believe the terms of our loans are similar to those that could be procured as of June 30, 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. (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. As of June 30, 2017 and December 31, 2016 there were four customers that each accounted for more than 10% of the Partnership's revenues. The Partnership does not obtain rights of collateral from its charterers to reduce its credit risk.

Partners' Capital

6 Months Ended

Jun. 30, 2017

Partners' Capital [Abstract]

Partners' Capital

8. Partners' Capital

As of June 30, 2017 and December 31, 2016 the Partnership's partners' capital was comprised of the following units:


	As of June 30, 2017		As of December 31, 2016
Common units		123,631,036		122,094,633
General partner units		2,439,989		2,439,989
Preferred units		12,983,333		12,983,333
Total partnership units		139,054,358		137,517,955

During the six-month period ended June 30, 2017, the Partnership issued 1,536,403 new common units under its At-The-Market offering (the “ATM offering”) and equity distribution agreement the Partnership had entered into with UBS Securities LLC in September 2016. This issuance resulted in net proceeds of $5,120 after the payment of commission to the sales agent but before offering expenses. For the six-month period ended June 30, 2017, the Partnership recognized offering expenses of $127 in connection with the ATM offering.

Details of the Partnership's Partner's Capital are discussed in Note 12 of the Partnership's Consolidated Financial Statements for the year ended December 31, 2016.

During the six-month periods ended June 30, 2017 and 2016, the Partnership declared and paid the following distributions to its common and preferred unit holders:

	April 20, 2017	January 18, 2017	April 26, 2016	January 20, 2016
Common unit-holders
Distributions per common unit declared	0.08	0.08	0.0750	0.2385
Common units entitled to distribution	123,631,036	122,343,706	120,409,456	120,409,456
General partner and IDR distributions	$195	$195	$183	$582
Preferred unit-holders
Distributions per preferred unit declared	0.21375	0.21375	0.21375	0.21975
Preferred units entitled to distribution	12,983,333	12,983,333	12,983,333	12,983,333

Omnibus Incentive Compensation Plan

6 Months Ended

Jun. 30, 2017

Omnibus Incentive Compensation Plan [Abstract]

Omnibus Incentive Compensation Plan

9. Omnibus Incentive Compensation Plan

As of June 30, 2017 the unvested units accrued $423 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, 2017		206,668	$	1,141		492,500	$	2,993
Vested		20,000		110		—		—

Unvested on June 30, 2017		186,668	$	1,031		492,500	$	2,993

For the six-month periods ended June 30, 2017 and 2016 the equity compensation expense that has been charged in the unaudited condensed consolidated statements of comprehensive income was $217 and $219 for the Employee awards and $361 and $306 for the Non-Employee awards, respectively. This expense has been included in general and administrative expenses in the unaudited condensed consolidated statements of comprehensive income.

As of June 30, 2017 the total unrecognized compensation cost related to non vested awards is $1,712 and is expected to be recognized over a weighted average period of 1.5 years. The Partnership uses the straight-line method to recognize the cost of the awards.

Net Income Per Unit

6 Months Ended

Jun. 30, 2017

Net Income Per Unit [Abstract]

Net Income Per Unit

10. Net Income Per Unit

The general partner's and common unit holders' interests in net income are calculated as if all net income for periods subsequent to April 4, 2007 were distributed according to the terms of the partnership's agreement, regardless of whether those earnings would or could be distributed. Our Limited Partnership Agreement (the “Partnership Agreement”) does not provide for the distribution of net income; rather, it provides for the distribution of “available cash”, which is a contractually-defined term that generally means all cash on hand at the end of each quarter after establishment of cash reserves determined by the Partnership's board of directors to provide for the proper resources for the Partnership's business. Unlike available cash, net income is affected by non-cash items. The Partnership follows the guidance relating to the Application of the Two-Class Method and its application to Master Limited Partnerships and 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 incentive distribution rights that would impact the amount of earnings to allocate to the incentive distribution rights for each reporting period.

Under the Partnership Agreement, the holder of the incentive distribution rights in the Partnership, which is currently CGP, assuming that there are no cumulative arrearages on common unit distributions, has the right to receive an increasing percentage of cash distributions after the minimum quarterly distribution. The Partnership excluded the effect of the 12,983,333 Class B Convertible Preferred Units in calculating dilutive Earnings Per Unit (“EPU”) as of June 30, 2017 and 2016 as they were anti-dilutive.

As of June 30, 2017 and 2016 the Partnership excluded the effect of 679,168 and 850,000 non-vested unit awards in calculating dilutive EPU for its common unitholders respectively, as they were anti-dilutive. The non-vested units are participating securities because they receive 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 six-month periods ended June 30, 2017 and 2016 did not exceed the First Target Distribution Level of $0.2425 per unit per quarter, as such term is defined in our Partnership Agreement, and as a result, the assumed distribution of net income did not result in the use of increasing percentages to calculate CGP's interest in net income.

The Two Class Method was used to calculate EPU as follows:


BASIC and DILUTED	For the six-month periods ended June 30,
Numerators	2017		2016
Partnership's net income	$	22,072	$	26,975
Less:
Preferred unit holders' interest in Partnership's net income		5,550		5,550
General Partner's interest in Partnership's net income		320		426
Partnership's net income allocable to unvested units		91		148
Common unit holders' interest in Partnership's net income	$	16,111	$	20,851
Denominators
Weighted average number of common units outstanding, basic and diluted		122,441,607		119,559,456
Net income per common unit:
Basic and diluted	$	0.13	$	0.17

Commitments and Contingencies

6 Months Ended

Jun. 30, 2017

Commitments and Contingencies [Abstract]

Commitments and Contingencies

11. Commitments and Contingencies

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

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

(a)

Lease Commitments

Future minimum rental receipts, assuming no off hire and dry docking days and excluding any profit share revenue that may arise, based on non-cancellable long-term time and bareboat charter contracts, as of June 30, 2017 are:


For the six-month period ended June 30,	Amount
2018	$	170,872
2019		117,386
2020		104,850
2021		63,730
2022		53,564
Thereafter		140,997
Total	$	651,399

Subsequent Events	6 Months Ended
Subsequent Events	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	12. Subsequent events (a) Dividends: On July 20, 2017, the board of directors of the Partnership declared a cash distribution of $0.08 per common unit for the second quarter of 2017, which will be paid on August 11, 2017 to unit holders of record on August 3, 2017. On July 20, 2017, the board of directors of the Partnership declared a cash distribution of $0.21375 per Class B Unit for the second quarter of 2017. The cash distribution will be paid on August 10, 2017 to Class B Unit holders of record on August 2, 2017.

Significant Accounting Policies (Policy)	6 Months Ended
Significant Accounting Policies (Policy)	Jun. 30, 2017
Significant Accounting Policies [Abstract]
Changes in Accounting Policies	Changes in Accounting Policies During the six-month period ended June 30, 2017, we adopted ASU 2015-11, Simplifying the Measurement of Inventory and ASU No 2016-09, Stock Compensation. The adoption of these ASU's had no impact on our unaudited interim condensed consolidated financial statements.

Transactions with Related Parties (Tables)

6 Months Ended

Jun. 30, 2017

Transactions with Related Parties [Abstract]

Balances and Transactions with Related Parties


Consolidated Balance Sheets		As of June 30, 2017			As of December 31, 2016
Liabilities:
Manager - payments on behalf of the Partnership (a)				$8,678			$15,126
Management fee payable to CSM (b)				978			969
Due to related parties				$9,656			$16,095
Deferred revenue - current (e)				4,372			2,925
Total liabilities				$14,028			$19,020

Consolidated Statements of Comprehensive Income	For the six-month periods ended June 30,
	2017					2016
Revenues (c)	$		22,167			$		19,203
Voyage expenses			—					189
Vessel operating expenses			5,685					5,301
General and administrative expenses (d)			1,000					1,042

Charter Agreements


Vessel Name	Contracted period of Time Charters 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	12/2017	$11.0 ($10.9)
M/T Amore Mio II	0.9	08/2016	07/2017	$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	12/2017	$13.8 ($13.6)
M/T Ayrton II	2.0	02/2016	01/2018	$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	07/2017	$25.0 ($24.7)
M/T Amadeus	2.0	06/2015	07/2017	$17.0 ($16.8)
M/T Atlantas II	1.0	10/2016	08/2017	$13.0 ($12.8)
Μ/Τ Amoureux	1.0	04/2017	03/2018	$22.0 ($22.0)

Vessels, net (Tables)

6 Months Ended

Jun. 30, 2017

Property Plant And Equipment [Abstract]

Vessels, net


	Vessel Cost		Accumulated depreciation			Net book value
Balance as at January 1, 2017	$	1,775,689	$	(407,958	)	$	1,367,731

Improvements		944		—			944
Depreciation for the period		—		(35,689	)		(35,689	)

Balance as at June 30, 2017	$	1,776,633	$	(443,647)		$	1,332,986

Above market acquired charters (Tables)

6 Months Ended

Jun. 30, 2017

Above market acquired charters [Abstract]

Above market acquired charters


Above market acquired charters	Book value
Carrying amount as at January 1, 2017	$	90,243

Amortization	$	(7,744	)
Carrying amount as at June 30, 2017	$	82,499

Above market acquired charter future amortization expense


For the twelve month period ended June 30,	Amount
2018	$	14,596
2019	$	14,381
2020	$	14,396
2021	$	8,746
2022	$	8,372
Thereafter	$	22,008
Total	$	82,499

Long-Term Debt (Tables)

6 Months Ended

Jun. 30, 2017

Long-Term Debt Covenants [Abstract]

Bank Loans


	Bank loans	As of June 30, 2017		As of December 31, 2016		Margin
(i)	Issued in March 2007 maturing in December 2019 (the “2007 credit facility”)		185,975		185,975	3.00%
(ii)	Issued in March 2008 maturing in December 2019 (the “2008 credit facility”)		181,641		181,641	3.00%
(iii)	Issued in June 2011 maturing in March 2018 (the “2011 credit facility”)		14,000		14,000	3.25%
(iv)	Issued in September 2013 maturing in December 2020 (the “2013 credit facility”)		198,969		207,646	3.50%
(v)	Assumed in October 2016 maturing in November 2022 (the “2015 credit facility”)		15,750		15,750	2.50%
	Total long-term debt	$	596,335	$	605,012
	Less: Deferred loan issuance costs		2,354		2,825
	Total long-term debt, net	$	593,981	$	602,187
	Less: Current portion of long-term debt		97,893		40,534
	Add: Current portion of deferred loan issuance costs		923		966
	Long-term debt, net	$	497,011	$	562,619

Partners' Capital (Tables)

6 Months Ended

Jun. 30, 2017

Partnership Units


	As of June 30, 2017		As of December 31, 2016
Common units		123,631,036		122,094,633
General partner units		2,439,989		2,439,989
Preferred units		12,983,333		12,983,333
Total partnership units		139,054,358		137,517,955

Distributions to unitholders

	April 20, 2017	January 18, 2017	April 26, 2016	January 20, 2016
Common unit-holders
Distributions per common unit declared	0.08	0.08	0.0750	0.2385
Common units entitled to distribution	123,631,036	122,343,706	120,409,456	120,409,456
General partner and IDR distributions	$195	$195	$183	$582
Preferred unit-holders
Distributions per preferred unit declared	0.21375	0.21375	0.21375	0.21975
Preferred units entitled to distribution	12,983,333	12,983,333	12,983,333	12,983,333

Omnibus Incentive Compensation Plan (Tables)

6 Months Ended

Jun. 30, 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, 2017		206,668	$	1,141		492,500	$	2,993
Vested		20,000		110		—		—

Unvested on June 30, 2017		186,668	$	1,031		492,500	$	2,993

Net Income Per Unit (Tables)

6 Months Ended

Jun. 30, 2017

Net Income Per Unit [Abstract]

Net Income Per Unit Basic and Diluted


BASIC and DILUTED	For the six-month periods ended June 30,
Numerators	2017		2016
Partnership's net income	$	22,072	$	26,975
Less:
Preferred unit holders' interest in Partnership's net income		5,550		5,550
General Partner's interest in Partnership's net income		320		426
Partnership's net income allocable to unvested units		91		148
Common unit holders' interest in Partnership's net income	$	16,111	$	20,851
Denominators
Weighted average number of common units outstanding, basic and diluted		122,441,607		119,559,456
Net income per common unit:
Basic and diluted	$	0.13	$	0.17

Commitments and Contingencies (Tables)

6 Months Ended

Jun. 30, 2017

Commitments and Contingencies [Abstract]

Future minimum rental receipts


For the six-month period ended June 30,	Amount
2018	$	170,872
2019		117,386
2020		104,850
2021		63,730
2022		53,564
Thereafter		140,997
Total	$	651,399

Basis of Presentation and General Information - Supplementary (Details)	6 Months Ended
	Jun. 30, 2017
Capital Product Partners L.P.
Subsidiary Of Limited Liability Company Or Limited Partnership [Line Items]
Date of Incorporation	Jan. 16, 2007

Basis of Presentation and General Information - Additional Information (Details)	Jun. 30, 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

Transactions with Related Parties - Unaudited Condensed Consolidated Balance Sheets (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Liabilities:
Due to related parties	$ 9,656	$ 16,095
Deferred revenue - current (e)	21,795	19,986
Manager - payments on behalf of the Partnership (a)
Liabilities:
Due to related parties	8,678	15,126
Management fee payable to CSM (b)
Liabilities:
Due to related parties	978	969
Capital Maritime And Trading Corp.
Liabilities:
Deferred revenue - current (e)	4,372	2,925
Total liabilities	$ 14,028	$ 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 - Unaudited Condensed Consolidated Statements of Comprehensive Income (Table) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Related Party Transaction
Revenues (c)	$ 22,167	$ 19,203
Voyage expenses	0	189
Vessel operating expenses	5,685	5,301
General and administrative expenses (d)	2,975	2,721
Capital Maritime And Trading Corp.
Related Party Transaction
Revenues (c)	22,167	19,203
Voyage expenses	0	189
Vessel operating expenses	5,685	5,301
General and administrative expenses (d)	$ 1,000	$ 1,042

Transactions with Related Parties - Charter Revenues (Table) (Details)	6 Months Ended
	Jun. 30, 2017
M/T Agisilaos
Related Party Transaction
Contracted period of Time Charters 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
Contracted period of Time Charters 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
Contracted period of Time Charters in years	1.0
Commencement of Charter	01/2017
Termination or earliest expected redelivery	12/2017
Gross Daily Hire Rate	$11.0
Net Daily Hire Rate	$10.9
M/T Amore Mio II
Related Party Transaction
Contracted period of Time Charters in years	0.9
Commencement of Charter	08/2016
Termination or earliest expected redelivery	07/2017
Gross Daily Hire Rate	$21.0
Net Daily Hire Rate	$20.7
M/T Akeraios
Related Party Transaction
Contracted period of Time Charters 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
Contracted period of Time Charters 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
Contracted period of Time Charters 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
Contracted period of Time Charters 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
Contracted period of Time Charters in years	1.0
Commencement of Charter	01/2017
Termination or earliest expected redelivery	12/2017
Gross Daily Hire Rate	$13.8
Net Daily Hire Rate	$13.6
M/T Ayrton II
Related Party Transaction
Contracted period of Time Charters in years	2.0
Commencement of Charter	02/2016
Termination or earliest expected redelivery	01/2018
Gross Daily Hire Rate	$18.0
Net Daily Hire Rate	$17.8
M/T Miltiadis M II
Related Party Transaction
Contracted period of Time Charters 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
Contracted period of Time Charters in years	0.9
Commencement of Charter	08/2016
Termination or earliest expected redelivery	07/2017
Gross Daily Hire Rate	$25.0
Net Daily Hire Rate	$24.7
M/T Amadeus
Related Party Transaction
Contracted period of Time Charters in years	2.0
Commencement of Charter	06/2015
Termination or earliest expected redelivery	07/2017
Gross Daily Hire Rate	$17.0
Net Daily Hire Rate	$16.8
M/T Atlantas II
Related Party Transaction
Contracted period of Time Charters in years	1.0
Commencement of Charter	10/2016
Termination or earliest expected redelivery	08/2017
Gross Daily Hire Rate	$13.0
Net Daily Hire Rate	$12.8
M/T Amoureux
Related Party Transaction
Contracted period of Time Charters 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

Transactions with Related Parties - Additional Information (Details) $ in Thousands	5 Months Ended	6 Months Ended
	Jun. 09, 2011	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)	Mar. 31, 2017 USD ($)	Dec. 31, 2016	Mar. 31, 2016 USD ($)	Sep. 30, 2011
Related Party Transaction
Number of vessels		36
Vessel operating expenses		$ 5,685	$ 5,301
General and administrative expenses		2,975	2,721
Executive services agreement with CGP
Related Party Transaction
General and administrative expenses		844	844
Capital Ship Management Corp. \| Fixed fee management agreement
Related Party Transaction
Vessel operating expenses		278	508
Capital Ship Management Corp. \| Floating fee management agreement
Related Party Transaction
Management agreement initial term, per managed vessel	5
Vessel operating expenses		$ 4,893	4,287
Capital Ship Management Corp. \| Crude Carriers Corp. ("Crude") management agreement
Related Party Transaction
Number of vessels		3					5
Vessel operating expenses		$ 514	$ 506
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 (b) 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 (c) the commercial services fee equal to 1.25% of all gross charter revenues generated by each of the three vessels for commercial services rendered.

Vessels, net (Table) (Details) $ in Thousands	6 Months Ended
Vessels, net (Table) (Details) $ in Thousands	Jun. 30, 2017 USD ($)
Property Plant And Equipment
Balance as at beginning of period	$ 1,367,731
Balance as at end of period	1,332,986
Vessel Cost
Property Plant And Equipment
Balance as at beginning of period	1,775,689
Improvements	944
Balance as at end of period	1,776,633
Accumulated depreciation
Property Plant And Equipment
Balance as at beginning of period	(407,958)
Depreciation for the period	(35,689)
Balance as at end of period	(443,647)
Net book value
Property Plant And Equipment
Balance as at beginning of period	1,367,731
Improvements	944
Depreciation for the period	(35,689)
Balance as at end of period	$ 1,332,986

Vessels, net - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($)
M/V Agamemnon, M/T Amore Mio II, M/T Miltiadis M II, M/T Ayrton II and M/T Axios
Property Plant And Equipment
Vessel improvement costs capitalized	$ 944

Above market acquired charters - Carrying Value (Table) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Acquired Finite Lived Intangible Assets
Carrying amount, beginning of period	$ 90,243
Amortization	(7,744)	$ (7,060)
Carrying amount, end of period	$ 82,499

Above market acquired charters - Amortization Schedule (Table) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
For the twelve month period ended December 31,
2018	$ 14,596
2019	14,381
2020	14,396
2021	8,746
2022	8,372
Thereafter	22,008
Total	$ 82,499	$ 90,243

Long-Term Debt - Total Debt (Table) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument
Total long-term debt	$ 596,335	$ 605,012
Less: Deferred loan issuance costs	2,354	2,825
Total long-term debt, net	593,981	602,187
Less: Current portion of long-term debt	97,893	40,534
Add: Current portion of deferred loan issuance costs	923	966
Long-term debt, net	497,011	562,619
(i) Issued in March 2007 maturing in December 2019 (the ''2007 credit facility'')
Debt Instrument
Total long-term debt	$ 185,975	185,975
Margin	3.00%
(ii) Issued in March 2008 maturing in December 2019 (the ''2008 credit facility'')
Debt Instrument
Total long-term debt	$ 181,641	181,641
Margin	3.00%
(iii) Issued in June 2011 maturing in March 2018 (the ''2011 credit facility'')
Debt Instrument
Total long-term debt	$ 14,000	14,000
Margin	3.25%
(iv) Issued in September 2013 maturing in December 2020 (the ''2013 credit facility'')
Debt Instrument
Total long-term debt	$ 198,969	207,646
Margin	3.50%
(v) 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%

Long-Term Debt - Additional Information (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($)	Jun. 30, 2016 USD ($)
Debt Instrument [Line Items]
Number of vessels	36
Line of credit facility, remaining borrowing capacity	$ 0
Interest expense	$ 12,481	$ 11,055
Weighted average interest rate	4.14%	3.70%
2013 Credit Facility
Debt Instrument [Line Items]
Repayment amount	$ 8,677
New Facility
Debt Instrument [Line Items]
Senior secured term loan facility, arrangement date	May 22, 2017
Line of credit facility, maximum borrowing capacity	$ 460,000
Duration of credit facility after the drawdown	6 years
Latest date the outstanding repayments will be repaid	Nov. 30, 2023
Number of Tranches	2
Debt variable rate basis	LIBOR
Credit facility margin	3.25%
New Facility \| Refinances 2007 Credit Facility, 2008 Credit Facility, 2011 Credit Facility and 2013 Credit Facility
Debt Instrument [Line Items]
Number of credit facilities to be refinanced	4
New Facility \| Tranche A
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 259,000
Percentage of the fair value of a number of vessels for the calculation of tranche	57.50%
Number of vessels	11
Repayment installments	24
Frequency of Payments	quarterly
Balloon payment, payable together with the final quarterly instalment	$ 143,008
New Facility \| Tranche B
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 201,000
Percentage of the fair value of a number of vessels for the calculation of tranche	57.50%
Number of vessels	24
Repayment installments	24
Frequency of Payments	quarterly
Maximum \| New Facility \| Tranche A
Debt Instrument [Line Items]
Repayment amount	$ 4,833
Maximum \| New Facility \| Tranche B
Debt Instrument [Line Items]
Repayment amount	$ 8,375

Long-Term Debt Covenants Description (Details)	6 Months Ended
Long-Term Debt Covenants Description (Details)	Jun. 30, 2017
Debt Instrument [Line Items]
Debt Instrument Covenant Description	As of June 30, 2017 and December 31, 2016 the Partnership was in compliance with all financial debt covenants.
New Facility
Debt Instrument [Line Items]
Debt Instrument Covenant Description	The Partnership's covenants under the New Facility are substantially similar to covenants made under the Partnership's existing credit facilities and do not contain any restrictions on distributions to our unit holders in the absence of an event of default.

Financial Instruments - Additional Information (Details)	Jun. 30, 2017	Dec. 31, 2016
Account for more than 10% of the partnership's revenue
Derivative Instruments Gain/ (Loss) [Line Items]
Number of customers	4	4

Partners' Capital - Partnership Units (Table) (Details) - shares	Jun. 30, 2017	Dec. 31, 2016
Partners' Capital [Abstract]
Common units	123,631,036	122,094,633
General partner units	2,439,989	2,439,989
Preferred units	12,983,333	12,983,333
Total partnership units	139,054,358	137,517,955

Partners' Capital - Distributions to Unitholders (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		4 Months Ended		6 Months Ended
	Jan. 18, 2017	Jan. 20, 2016	Apr. 20, 2017	Apr. 26, 2016	Jun. 30, 2017	Dec. 31, 2016
Common units entitled to distribution					123,631,036	122,094,633
Preferred units entitled to distribution					12,983,333	12,983,333
Common Unitholders
Distributions per unit declared	$ 0.08	$ 0.2385	$ 0.08	$ 0.075	$ 0.08
Common units entitled to distribution	122,343,706	120,409,456	123,631,036	120,409,456
General partner and IDR distributions	$ 195	$ 582	$ 195	$ 183
Preferred Unitholders
Distributions per unit declared	$ 0.21375	$ 0.21975	$ 0.21375	$ 0.21375	$ 0.21375
Preferred units entitled to distribution	12,983,333	12,983,333	12,983,333	12,983,333

Partners' Capital - Additional Information (Details) - The "ATM Offering" - UBS Securities LLC ("UBS") $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($) shares
Equity offering \| shares	1,536,403
Net proceeds from equity offering	$ 5,120
Offering expenses	$ 127

Omnibus Incentive Compensation Plan (Table) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2017 USD ($) shares
Units
Unvested, end of period	$ 1,712
Employee equity compensation
Units
Unvested, beginning of period \| shares	206,668
Vested \| shares	20,000
Unvested, end of period \| shares	186,668
Unvested, beginning of period	$ 1,141
Vested	110
Unvested, end of period	$ 1,031
Non-Employee equity compensation
Units
Unvested, beginning of period \| shares	492,500
Vested \| shares	0
Unvested, end of period \| shares	492,500
Unvested, beginning of period	$ 2,993
Vested	0
Unvested, end of period	$ 2,993

Omnibus Incentive Compensation Plan (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation	$ 578	$ 525
Total compensation cost related to non vested awards	$ 1,712
Expected period of recognition for unrecognized compensation cost	1 year 6 months
Value of unvested units accrued distribution	$ 423
Employee equity compensation
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation	217	219
Total compensation cost related to non vested awards	1,031		$ 1,141
Non-Employee equity compensation
Share Based Compensation Arrangement By Share Based Payment Award [Line Items]
Share based compensation	361	$ 306
Total compensation cost related to non vested awards	$ 2,993		$ 2,993

Net Income Per Unit (Table) (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Numerators
Partnership's net income	$ 22,072	$ 26,975
Less:
Preferred unit holders' interest in Partnership's net income	5,550	5,550
General Partner's interest in Partnership's net income	320	426
Partnership's net income allocable to unvested units	91	148
Common unit holders' interest in Partnership's net income	$ 16,111	$ 20,851
Denominators
Weighted average number of common units outstanding, basic and diluted	122,441,607	119,559,456
Net income per common unit:
Basic and diluted	$ 0.13	$ 0.17

Net Income per Unit - Additional Information (Details) - $ / shares	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Class B Convertible Preferred Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive units	12,983,333	12,983,333
Non-vested units awards
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive units	679,168	850,000
First Target Distribution
First target distribution level per unit	$ 0.2425	$ 0.2425

Commitments and Contingencies - Future Minimum Charter Hire Receipts (Table) (Details) $ in Thousands	Jun. 30, 2017 USD ($)
Commitments and Contingencies [Abstract]
2018	$ 170,872
2019	117,386
2020	104,850
2021	63,730
2022	53,564
Thereafter	140,997
Total	$ 651,399

Subsequent Events (Details) - $ / shares	1 Months Ended		4 Months Ended		6 Months Ended
Subsequent Events (Details) - $ / shares	Jan. 18, 2017	Jan. 20, 2016	Apr. 20, 2017	Apr. 26, 2016	Jun. 30, 2017
Common Unitholders
Subsequent Event [Line Items]
Dividends Payable, Date Declared					Jul. 20, 2017
Dividend declared	$ 0.08	$ 0.2385	$ 0.08	$ 0.075	$ 0.08
Dividends Payable, Date to be Paid					Aug. 11, 2017
Dividends Payable, Date of Record					Aug. 03, 2017
Preferred Unitholders
Subsequent Event [Line Items]
Dividends Payable, Date Declared					Jul. 20, 2017
Dividend declared	$ 0.21375	$ 0.21975	$ 0.21375	$ 0.21375	$ 0.21375
Dividends Payable, Date to be Paid					Aug. 10, 2017
Dividends Payable, Date of Record					Aug. 02, 2017