Exhibit 12.1

USD Partners LP

Ratio of Earnings to Fixed Charges

	For the Three
	Months Ended			For the year ended December 31,
	March 31, 2016			2015			2014			2013			2012
				($ in thousands)
Consolidated net income (loss)	$	2,150		$	17,693		$	(7,678	)	$	6,402		$	460,577
Less: Income from discontinued operations		—			—						948			65,204
Gain on sale of discontinued operations		—			—			—			7,295			394,318
Income (loss) from continuing operations		2,150			17,693			(7,678	)		(1,841	)		1,055
Add: Provision for income taxes		1,797			5,755			186			30			26
Loss (income) from equity investees		—			—			—			—			—
Pre-tax income from continuing ops before adjustment for income or loss from equity investees		3,947			23,448			(7,492	)		(1,811	)		1,081
Add: Fixed charges		2,725			8,447			8,142			7,901			7,479
Amortization of capitalized interest		3			12			6
Distributed income of equity investees		—			—			—			—			—
Less: Capitalized interest		—			—			230			—			—
Preference security dividend requirements		—			—			—			—			—
Non-controlling interest		—			—			—			—			—
Earnings		6,675			31,907			426			6,090			8,560
Fixed Charges
Interest expense		1,968			3,709			3,769			1,821			834
Capitalized interest		—			—			230			—			—
Discount amortization		—			—			—			—			—
Premium accretion		—			—			—			—			—
Amortization of deferred financing costs		215			659			1,056			1,420			1,216
Estimated interest within rent expense		542			4,079			3,087			4,660			5,429
Preference security distribution requirements		—			—			—			—			—
Total fixed charges	$	2,725		$	8,447		$	8,142		$	7,901		$	7,479
Preferred security distributions	$	—		$	—		$	—		$	—		$	—
Combined fixed charges and preferred security distributions	$	2,725		$	8,447		$	8,142		$	7,901		$	7,479
Ratio of earnings to fixed charges		2.45			3.78			0.05			0.77			1.14
Ratio of earnings to combined fixed charges and preferred security distributions		2.45			3.78			0.05			0.77			1.14
Calculation of Estimated interest within rent expense
Gross rent expense	$	1,627		$	12,238		$	9,262		$	13,979		$	16,288
Applicable rate		33.3	%		33.3	%		33.3	%		33.3	%		33.3	%
Estimated interest within rent expense	$	542		$	4,079		$	3,087		$	4,660		$	5,429

1) The ratio coverage in 2014 was less than 1:1. We would have needed to generate additional earnings of approximately $7.7 million to achieve a coverage ratio of 1:1 in 2014.

2) The ratio coverage in 2013 was less than 1:1. We would have needed to generate additional earnings of approximately $1.8 million to achieve a coverage ratio of 1:1 in 2013.