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Consolidated Statements Of Cash Flows (USD $)
In Thousands, unless otherwise specified
12 Months Ended
Dec. 31, 2011
Dec. 31, 2010
Dec. 31, 2009
Cash flows from operating activities:      
Net income $ 87,120 $ 18,919 $ 32,716
Adjustments to reconcile net income to net cash provided by operating activities      
Vessel depreciation 37,214 31,464 30,685
Gain from bargain purchase (82,453) 0 0
Amortization of deferred charges 809 552 456
Amortization of above market acquired charters (Note 6) 5,489 938 0
Equity compensation expense 2,455 782 0
Gain on interest rate swap agreement (2,310) 0 0
Changes in operating assets and liabilities:      
Trade accounts receivable 7,211 (2,717) 5,381
Due from related parties 2 6 (1,795)
Prepayments and other assets (589) 230 (2)
Inventories 5,576 237 (264)
Trade accounts payable (4,600) 118 507
Due to related parties (4,507) (570) 4,460
Accrued liabilities (247) (409) 271
Deferred revenue 5,369 501 147
Net cash provided by operating activities 56,539 50,051 72,562
Cash flows from investing activities:      
Vessel acquisitions and new building advances (Note 5) (27,003) (99,842) (26,460)
Acquisition of above market bare-boat charter (Note 6) 0 (9,000) 0
Additions to restricted cash (1,500) (750) 0
Cash and cash equivalents acquired in business acquisition 11,847 0 0
Purchase of short term investments 0 (81,729) (111,850)
Maturity of short term investments 0 112,119 82,540
Net cash used in investing activities (16,656) (79,202) (55,770)
Cash flows from financing activities:      
Proceeds from issuance of Partnership units (Note 3) 1,470 105,273 0
Expenses paid for issuance of Partnership units 0 (1,533) 0
Proceeds from issuance of long-term debt (Note 7) 159,580 0 0
Proceeds from related-party debt 0 0 26,400
Payments of long-term debt (Note 7) (134,580) 0 0
Payments of related-party debt/ financing 0 (1,556) (52,171)
Loan issuance costs (338) 0 (725)
Excess of purchase price over book value of vessels acquired from entity under common control 0 (10,449) 0
Dividends paid (45,116) (33,665) (70,463)
Capital contributions by CMTC 0 0 40,570
Net cash (used in) / provided by financing activities (18,984) 58,070 (56,389)
Net increase / (decrease) in cash and cash equivalents 20,899 28,919 (39,597)
Cash and cash equivalents at beginning of period 32,471 3,552 43,149
Cash and cash equivalents at end of period 53,370 32,471 3,552
Supplemental Cash Flow Information      
Cash paid for interest 32,210 31,860 31,548
Non-Cash Investing and Financing Activities      
Net book value of vessels transferred-in, M/T Agamemnon II and M/T Ayrton II less cash paid. 0 0 68,054
Net book value of vessels transferred-out, M/T Assos and M/T Atrotos 0 0 (70,496)
Net liabilities assumed by CMTC upon contribution of vessels to the Partnership (Note 12) 0 31,844 31,073
Units issued to acquire Patroklos 57,055 0 0
Capitalized vessel costs included in liabilities 252 175 870
Acquisition of above market time charter (Notes 3, 6) 48,551 0 0
Reduction in deferred offering expenses 0 107 0
Change in payable offering expenses 0 31 0
Crude's net assets at the completion of the business acquisition (Note 12) 211,144 0 0
Units issued to acquire Crude (Note 3) 155,559 0 0
Fair value of Crude's Equity Incentive Plan attributable to precombination services (Note 3) $ 1,505 $ 0 $ 0