Exhibit 12.1

MAGELLAN MIDSTREAM PARTNERS, L.P.

RATIO OF EARNINGS TO FIXED CHARGES

(In thousands)

	Twelve Months Ended December 31,															Nine Months Ended Sept. 30, 2005
	2000			2001			2002			2003			2004
EARNINGS:
Income from continuing operations before income taxes, extraordinary gain (loss) and cumulative effect of change in accounting principle *	$	79,316		$	97,613		$	107,495		$	88,169		$	108,601		$	119,618
Fixed charges		28,438			15,755			33,344			39,779			41,657			41,994
Amortization of capitalized interest		459			465			471			462			463			347
Distributed income of equity investees		—			—			—			—			—			2,150
Capitalized interest		(1,282	)		(764	)		(231	)		(102	)		(426	)		(679	)
Total earnings	$	106,931		$	113,069		$	141,079		$	128,308		$	150,295		$	163,430
FIXED CHARGES:
Interest expense	$	27,009		$	14,606		$	22,907		$	36,597		$	37,893		$	38,829
Capitalized interest		1,282			764			231			102			426			679
Debt expense amortization		—			253			9,950			2,830			3,056			2,194
Rent expense representative of interest factor		147			132			256			250			282			292
Total fixed charges	$	28,438		$	15,755		$	33,344		$	39,779		$	41,657		$	41,994
Ratio of earnings to fixed charges		3.8			7.2			4.2			3.2			3.6			3.9

* Excludes income from equity investments and minority interest expense.