Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

	Year Ended December 31,															Six Months Ended June 30,
	2001			2002			2003			2004			2005			2006
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		$	104,018
Fixed charges		15,755			33,344			39,779			41,657			56,656			30,332
Amortization of capitalized interest		465			471			462			463			465			356
Distributed income of equity investees		—			—			—			—			3,300			2,025
Capitalized interest		(764	)		(231	)		(102	)		(426	)		(817	)		(633	)
Total earnings	$	113,069		$	141,079		$	128,308		$	150,295		$	215,983		$	136,098
FIXED CHARGES:
Interest expense	$	14,606		$	22,907		$	36,597		$	37,893		$	52,554		$	28,125
Capitalized interest		764			231			102			426			817			633
Debt expense amortization		253			9,950			2,830			3,056			2,871			1,355
Rent expense representative of interest factor		132			256			250			282			414			219
Total fixed charges	$	15,755		$	33,344		$	39,779		$	41,657		$	56,656		$	30,332
Ratio of earnings to fixed charges		7.2			4.2			3.2			3.6			3.8			4.5

* Excludes income from equity investments and minority interest expense.