SUBSEQUENT EVENTS	12 Months Ended
Dec. 31, 2011
SUBSEQUENT EVENTS	28. SUBSEQUENT EVENTS Perth Amboy Acquisition and Equity Offering On February 9, 2012, we signed a definitive agreement with Chevron U.S.A Inc. (“Chevron”) to acquire a marine terminal facility for liquid petroleum products in New York Harbor (the “Perth Amboy Facility”) for $260.0 million in cash. The facility, which sits on approximately 250 acres on the Arthur Kill in Perth Amboy, New Jersey, has over 4 million barrels of tankage, four docks, and significant undeveloped land available for potential expansion. The Perth Amboy Facility has water, pipeline, rail, and truck access, and is located only six miles from our Linden, New Jersey complex. Chevron entered into multi-year storage, blending, and throughput commitments with us concurrent with the acquisition. The Perth Amboy Facility will provide a link between our inland pipelines and terminals and our BORCO facility in The Bahamas, improving service offerings for our customers and providing further support to our planned clean products tankage expansion at the BORCO facility. The operations of the Perth Amboy Facility will be reported in our Pipelines & Terminals segment upon closing, which is expected to close in the latter half of the second quarter of 2012. Additionally, on February 13, 2012, we issued 4,262,575 LP Units to institutional investors in a registered direct offering for aggregate consideration of approximately $250.0 million at a price of $58.65 per LP Unit, before deducting placement agents fees and estimated offering expenses. We plan to use the net proceeds from this offering to fund indirectly a portion of the Perth Amboy Facility and certain other growth capital expenditures, and, pending such uses, to reduce the indebtedness outstanding under our Credit Facility.

28. SUBSEQUENT EVENTS

Perth Amboy Acquisition and Equity Offering

On February 9, 2012, we signed a definitive agreement with Chevron U.S.A Inc. (“Chevron”) to acquire a marine terminal facility for liquid petroleum products in New York Harbor (the “Perth Amboy Facility”) for $260.0 million in cash. The facility, which sits on approximately 250 acres on the Arthur Kill in Perth Amboy, New Jersey, has over 4 million barrels of tankage, four docks, and significant undeveloped land available for potential expansion. The Perth Amboy Facility has water, pipeline, rail, and truck access, and is located only six miles from our Linden, New Jersey complex. Chevron entered into multi-year storage, blending, and throughput commitments with us concurrent with the acquisition. The Perth Amboy Facility will provide a link between our inland pipelines and terminals and our BORCO facility in The Bahamas, improving service offerings for our customers and providing further support to our planned clean products tankage expansion at the BORCO facility. The operations of the Perth Amboy Facility will be reported in our Pipelines & Terminals segment upon closing, which is expected to close in the latter half of the second quarter of 2012.

Additionally, on February 13, 2012, we issued 4,262,575 LP Units to institutional investors in a registered direct offering for aggregate consideration of approximately $250.0 million at a price of $58.65 per LP Unit, before deducting placement agents fees and estimated offering expenses. We plan to use the net proceeds from this offering to fund indirectly a portion of the Perth Amboy Facility and certain other growth capital expenditures, and, pending such uses, to reduce the indebtedness outstanding under our Credit Facility.