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Basis of Presentation and General Information | 12 Months Ended
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Dec. 31, 2019
Basis of Presentation and General Information [Abstract] |
Basis of Presentation and General Information | 1. Basis of Presentation and General Information Capital Product Partners, L.P. was formed on January 16, 2007, under the laws of the Marshall Islands. Capital Product Partners, L.P. and its fully owned subsidiaries (collectively the “Partnership”) is an international shipping company. As of December 31, 2019, its fleet of eleven high specification vessels consisted of ten Neo-Panamax container carrier vessels and one Capesize bulk carrier. Its vessels are capable of carrying a wide range of dry cargoes, as well as containerized goods under short-term voyage charters and medium to long-term time charters. The DSS Transaction On November 27, 2018, the Partnership entered into a definitive transaction agreement (the “Transaction Agreement”) with DSS Holdings L.P. (“DSS”), a privately held third party company, pursuant to which the Partnership agreed to spin off its Crude and Product tanker business into a separate publicly listed company which would combine with DSS’s businesses and operations in a share-to-share transaction (the “DSS Transaction”). Pursuant to the Transaction Agreement: (a) the Partnership agreed to establish a number of entities for the implementation of the DSS Transaction, including Athena SpinCo Inc. (“Athena”); (b) the Partnership agreed to contribute to Athena the Crude and Product tanker business, associated inventories, $10,000 in cash plus prorated charter hire and net payments received from February 20, 2019 onwards with specific arrangements relating to the funding of working capital; (c) the Partnership agreed to distribute all 12,725,000 shares of common stock of Athena (renamed Diamond S Shipping Inc. or “Diamond S”) that it owned by way of a pro rata distribution to holders of the Partnership’s common and general partner units (the “distribution”); (d) Immediately following the distribution, there was a series of mergers as a result of which Diamond S would acquire the business and operations of DSS (the “combination”). In the combination, Diamond S issued additional shares of Diamond S common stock to DSS in such amount as to reflect the relative net asset values of the respective businesses and the agreed implied premium on the net asset value of the Crude and Product tanker business; and (e) DSS entered into several firm commitments for a syndicated five-year term loan and revolving credit facility of up to $360,000 with a syndicate of global shipping banks, and agreed to turn over net proceeds in such amount to partially prepay a portion of the loans outstanding under the Partnership’s existing credit facilities, redeem the Partnership’s Class B Units and fund transaction expenses. The DSS Transaction was completed on March 27, 2019. Results of operations and cash flows of the Crude and Product tanker business and assets and liabilities that were part of the DSS Transaction are reported as discontinued operations for all periods presented (Note 3). Effective March 27, 2019, the Partnership effected a one for seven reverse unit split of its issued and outstanding common and general partner units (the “March 2019 Reverse Split”) (Note 13). All units and per units amounts disclosed in the financial statements give effect to this reverse stock split retroactively, for all periods presented. The consolidated financial statements include Capital Product Partners, L.P. and the following wholly owned subsidiaries which were all incorporated or formed under the laws of the Marshall Islands and Liberia.
Subsidiary | Date of Incorporation | Name of Vessel Owned by Subsidiary | Deadweight “DWT” | Date acquired by the Partnership | Date acquired by Capital Maritime & Trading Corp. (“CMTC”) |
Capital Product Operating LLC | 01/16/2007 | — | — | — | — |
Crude Carriers Corp. | 10/29/2009 | — | — | 09/30/2011 | — |
Crude Carriers Operating Corp. | 01/21/2010 | — | — | 09/30/2011 | — |
Shipping Rider Co. (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.

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