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Vessels
 6 Months Ended
Jun. 30, 2012
Vessels (Abstract)  
Vessels
5.
Vessels
An analysis of vessels is as follows:
 
 
 
 
 
 
 
 
 
 
 
  
As of
 
 
As of
 
 
  
June 30, 2012
 
 
December 31, 2011
 
Cost:
  
 
 
 
 
 
 
 
Vessels
  
 
1,193,397
  
 
 
1,217,606
  
Less: Accumulated depreciation
  
 
(161,952
) 
 
 
(143,620
) 
 
  
 
 
 
 
 
 
 
Vessels, net
  
$
1,031,445
  
 
$
1,073,986
  
 
  
 
 
 
 
 
 
 
All of the Partnership's vessels as of June 30, 2012 have been provided as collateral to secure the Partnership's credit facilities.
On February 14, 2012, the Company sold the M/T Attikos, a 12,000 dwt chemical tanker built in 2005 for net proceeds of $9,819, to an unrelated third party. The Company realized a net gain on this sale of $943.
On April 4, 2012 the Company sold the M/T Aristofanis, a 12,000 dwt, chemical tanker built in 2005 for net proceeds of $9,882, to an unrelated third party. The Company realized a net gain on this sale of $353.
On June 10, 2011 the Company acquired the shares of Patroklos, the vessel owning company of the M/V Cape Agamemnon (Note 3).