SUBSEQUENT EVENTS	9 Months Ended
Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	16. SUBSEQUENT EVENTS VTTI Acquisition In October 2016, we signed a definitive agreement to acquire an indirect 50% equity interest in VTTI B.V. (“VTTI”) for cash consideration of $1.15 billion (the “VTTI Acquisition”). VTTI is one of the largest independent global marine terminal businesses that, through its subsidiaries and partnership interests, owns and operates approximately 54 million barrels of petroleum products storage across 13 terminals located on five continents. These marine terminals are predominately located in key global energy hubs, including Northwest Europe, the United Arab Emirates and Singapore, and offer world-class storage and marine terminalling services for refined petroleum products, liquid petroleum gas and crude oil. The VTTI Acquisition is expected to close in January 2017, subject to regulatory approvals and customary closing conditions. Equity Offering In October 2016, we completed a public offering of 7.75 million LP Units pursuant to an effective shelf registration statement, which priced at $66.05 per unit. The underwriters also exercised an option to purchase 1.16 million additional LP Units, resulting in total gross proceeds of $588.7 million before deducting estimated underwriting fees and offering expenses of $7.7 million. We intend to use the net proceeds from this offering to fund a portion of the purchase price for the VTTI Acquisition. Pending such use, the net proceeds of this offering will be used to reduce the indebtedness outstanding under our Credit Facility and for general partnership purposes. Notes Offering In October 2016, we priced an offering of $600.0 million of senior unsecured 3.950% notes maturing on December 1, 2026 in an underwritten public offering at 99.644% of their principal amount. We expect the offering to close on November 7, 2016, subject to customary closing conditions. Total gross proceeds from this offering will be $597.9 million before deducting estimated underwriting fees, expenses and debt issuance costs of $5.3 million. We intend to use the net proceeds from this offering to fund a portion of the purchase price for the VTTI Acquisition. Hurricane Matthew In October 2016, Hurricane Matthew made landfall in the Bahamas and the southeastern United States. Our domestic operations experienced no property damages or product releases as a result of the storm. We are currently evaluating the impact of the storm on our BBH terminalling facility, which is located along the Northwest Providence Channel of Grand Bahama Island. Based on information currently available, we estimate the range of costs expected to be incurred as a result of Hurricane Matthew to be between $20 million to $30 million, comprised of both operating and capital expenditures. We intend to seek recovery from our insurers for property damage incurred above our self-insured retentions; however, no assurances can be given relative to the timing or amount of such recoveries.

16. SUBSEQUENT EVENTS

VTTI Acquisition

In October 2016, we signed a definitive agreement to acquire an indirect 50% equity interest in VTTI B.V. (“VTTI”) for cash consideration of $1.15 billion (the “VTTI Acquisition”). VTTI is one of the largest independent global marine terminal businesses that, through its subsidiaries and partnership interests, owns and operates approximately 54 million barrels of petroleum products storage across 13 terminals located on five continents. These marine terminals are predominately located in key global energy hubs, including Northwest Europe, the United Arab Emirates and Singapore, and offer world-class storage and marine terminalling services for refined petroleum products, liquid petroleum gas and crude oil. The VTTI Acquisition is expected to close in January 2017, subject to regulatory approvals and customary closing conditions.

Equity Offering

In October 2016, we completed a public offering of 7.75 million LP Units pursuant to an effective shelf registration statement, which priced at $66.05 per unit. The underwriters also exercised an option to purchase 1.16 million additional LP Units, resulting in total gross proceeds of $588.7 million before deducting estimated underwriting fees and offering expenses of $7.7 million. We intend to use the net proceeds from this offering to fund a portion of the purchase price for the VTTI Acquisition. Pending such use, the net proceeds of this offering will be used to reduce the indebtedness outstanding under our Credit Facility and for general partnership purposes.

Notes Offering

In October 2016, we priced an offering of $600.0 million of senior unsecured 3.950% notes maturing on December 1, 2026 in an underwritten public offering at 99.644% of their principal amount. We expect the offering to close on November 7, 2016, subject to customary closing conditions. Total gross proceeds from this offering will be $597.9 million before deducting estimated underwriting fees, expenses and debt issuance costs of $5.3 million. We intend to use the net proceeds from this offering to fund a portion of the purchase price for the VTTI Acquisition.

Hurricane Matthew

In October 2016, Hurricane Matthew made landfall in the Bahamas and the southeastern United States. Our domestic operations experienced no property damages or product releases as a result of the storm. We are currently evaluating the impact of the storm on our BBH terminalling facility, which is located along the Northwest Providence Channel of Grand Bahama Island. Based on information currently available, we estimate the range of costs expected to be incurred as a result of Hurricane Matthew to be between $20 million to $30 million, comprised of both operating and capital expenditures. We intend to seek recovery from our insurers for property damage incurred above our self-insured retentions; however, no assurances can be given relative to the timing or amount of such recoveries.