Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

																Three Months Ended March 31, 2006
	Twelve Months Ended December 31,
	2001			2002			2003			2004			2005
EARNINGS:
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle *	$	97,613		$	107,495		$	88,169		$	108,601		$	156,379		$	47,594
Fixed charges		15,755			33,344			39,779			41,657			56,656			15,079
Amortization of capitalized interest		465			471			462			463			465			119
Distributed income of equity investees		—			—			—			—			3,300			1,075
Capitalized interest		(764	)		(231	)		(102	)		(426	)		(817	)		(204	)
Total earnings	$	113,069		$	141,079		$	128,308		$	150,295		$	215,983		$	63,663
FIXED CHARGES:
Interest expense	$	14,606		$	22,907		$	36,597		$	37,893		$	52,554		$	14,088
Capitalized interest		764			231			102			426			817			204
Debt expense amortization		253			9,950			2,830			3,056			2,871			677
Rent expense representative of interest factor		132			256			250			282			414			110
Total fixed charges	$	15,755		$	33,344		$	39,779		$	41,657		$	56,656		$	15,079
Ratio of earnings to fixed charges		7.2			4.2			3.2			3.6			3.8			4.2

* Excludes income from equity investments and minority interest expense.