World Point Terminals 10-Q 12 Aug 15 2015 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 12, 2015
Document Information [Line Items]
Entity Registrant Name	World Point Terminals, LP
Entity Central Index Key	1,574,963
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Trading Symbol	WPT
Entity Common Stock, Shares Outstanding		18,375,507
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current Assets
Cash and cash equivalents	$ 16,566	$ 18,429
Accounts receivable, net of allowances of $21 and $8, respectively	2,690	2,250
Accounts receivable - affiliates	4,379	2,391
Short-term investments	3,686	5,527
Prepaid insurance	64	197
Prepaid insurance — affiliates	495	93
Income tax receivable	78	0
Other current assets	595	416
Total current assets	28,553	29,303
Property, plant and equipment, net	162,362	143,172
Goodwill	6,072	377
Acquired customer contracts, net	5,886	0
Investment in joint venture	8,295	8,125
Other assets	612	798
Total Assets	211,780	181,775
Current Liabilities
Accounts payable	5,355	6,765
Accrued liabilities	1,456	1,088
Due to affiliate companies	1,170	1,411
Deferred revenue - short-term	254	0
Deferred revenue - short-term - affiliates	802	656
Income taxes payable	0	109
Total current liabilities	9,037	10,029
Other noncurrent liabilities	640	622
Deferred revenue - long-term - affiliates	2,472	1,106
Total liabilities	12,149	11,757
Commitments and contingencies (Notes 9 and 17)	0	0
Partners’ Equity
Common units (18,375,507 units issued and outstanding at June 30, 2015 and 16,825,507 units issued and outstanding at December 31, 2014)	141,198	110,241
Subordinated units (16,485,507 units issued and outstanding at June 30, 2015 and December 31, 2014)	58,433	59,777
General partner interest (0% interest)	0	0
Total partners’ equity	199,631	170,018
Predecessor Shareholder's Equity
Total Liabilities and Partners’ Equity	$ 211,780	$ 181,775

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets [Parenthetical] - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable, net of allowances	$ 21	$ 8
Common Unit, Issued (in units)	18,375,507	16,825,507
Common Unit, Outstanding (in units)	18,375,507	16,825,507
Subordinate Units, Issued (in units)	16,485,507	16,485,507
Subordinate Units, Outstanding (in units)	16,485,507	16,485,507

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - Equity Component [Domain] - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
REVENUES
Third parties	$ 15,183	$ 14,371	$ 30,457	$ 28,784
Affiliates	9,254	8,042	19,123	16,361
Revenues, Total	24,437	22,413	49,580	45,145
OPERATING COSTS, EXPENSES AND OTHER
Operating expenses	7,324	5,302	14,650	12,494
Operating expenses reimbursed to affiliates	653	802	1,386	1,473
Selling, general and administrative expenses	923	1,869	1,960	2,518
Selling, general and administrative expenses reimbursed to affiliates	441	451	891	905
Depreciation and amortization	6,285	4,964	12,458	9,795
Income from joint venture	(61)	(132)	(170)	(261)
Total operating costs, expenses and other	15,565	13,256	31,175	26,924
INCOME FROM OPERATIONS	8,872	9,157	18,405	18,221
OTHER INCOME/(EXPENSE)
Interest expense	(206)	(217)	(411)	(430)
Interest and dividend income	92	37	177	46
Gain (loss) on investments and other-net	(162)	130	(68)	159
Income before income taxes	8,596	9,107	18,103	17,996
Provision for income taxes	22	53	30	73
NET INCOME	$ 8,574	$ 9,054	$ 18,073	$ 17,923
BASIC AND DILUTED EARNINGS PER UNIT ATTRIBUTABLE TO UNITHOLDERS*
Common (in dollars per share)	$ 0.25	$ 0.27	$ 0.52	$ 0.54
Subordinated (in dollars per share)	$ 0.25	$ 0.27	$ 0.52	$ 0.54
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING
Common (in shares)	18,375,507	16,764,396	18,375,507	16,669,951
Subordinated (in shares)	16,485,507	16,485,507	16,485,507	16,485,507

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash flows provided by operating activities
Net income	$ 18,073	$ 17,923
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	12,458	9,795
Amortization of deferred financing costs	92	108
Loss (gain) on marketable securities	98	(151)
Equity based compensation	1,270	662
Income from joint venture	(170)	(261)
Changes in operating assets and liabilities (net of effects of acquisitions):
Accounts receivable	(440)	574
Prepaid insurance	(269)	653
Other current assets and other assets	(89)	18
Accounts payable	(2,325)	(1,133)
Accrued liabilities	372	977
Deferred revenue	1,766	(202)
Income taxes payable/receivable	(187)	(49)
Due to affiliated companies	(2,229)	(814)
Other noncurrent liabilities	18	17
Net cash provided by operating activities	28,438	28,117
Cash flows from investing activities
Purchase of short-term investments	(129)	(6,386)
Proceeds from sale of short-term investments	1,872	320
Terminal acquisitions		(13,744)
Capital expenditures	(11,128)	(5,271)
Net cash used in investing activities	(9,385)	(25,081)
Cash flows from financing activities
Distributions to unitholders	(20,916)	(19,911)
Net cash used in financing activities	(20,916)	(19,911)
Net change in cash and cash equivalents	(1,863)	(16,875)
Cash and cash equivalents at beginning of year	18,429	31,207
Cash and cash equivalents at end of period	16,566	14,332
Cash paid for interest	302	458
Cash paid for income taxes	217	132
Noncash investing transactions - property and equipment additions included in accounts payable	1,215	665
Noncash financing and investing transactions - issuance of units for acquisition of terminal business	$ 31,186	$ 0

Condensed Consolidated Stateme6

Condensed Consolidated Statement of Partners' Equity - USD ($) $ in Thousands	Total	Limited Partner Common Units [Member]	Limited Partner Subordinated Units [Member]	General Partner [Member]
BALANCE at Dec. 31, 2013		$ 106,615	$ 57,289	$ 0
Equity based compensation expense		1,933	0	0
Net income		16,375	16,143	0
Distributions		(15,143)	(14,838)	0
Contribution to partners’ equity		461	1,183	0
BALANCE at Dec. 31, 2014	$ 0	110,241	59,777
Equity based compensation expense		1,270	0	0
Net income	18,073	9,526	8,547	0
Distributions		(11,025)	(9,891)	0
Issuance of units for acquisition of terminal assets	$ 31,186	31,186	0	0
BALANCE at Jun. 30, 2015		$ 141,198	$ 58,433	$ 0

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	1) BUSINESS AND BASIS OF PRESENTATION Organization World Point Terminals, LP (the “Partnership”) is a Delaware limited partnership that was formed on April 19, 2013 by World Point Terminals, Inc. (our “Parent”) and WPT GP, LLC (the “General Partner”). The Partnership, through its wholly owned subsidiary Center Point Terminal Company, LLC (“Center Point”), owns, operates, develops and acquires liquid bulk storage terminals and related assets primarily for the storage of petroleum based products, including light refined products, heavy refined products and crude oil. We operate fee-based facilities located along the East Coast, Gulf Coast and Midwest regions of the United States. These unaudited interim condensed consolidated financial statements were prepared under the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In management’s opinion, the accompanying unaudited condensed consolidated financial statements include all adjustments consisting of normal recurring accruals necessary for the fair presentation of the results of operations for the three and six months ended June 30, 2015 and 2014. Information for interim periods may not be indicative of the Partnership’s operating results for the entire year.

EARNINGS PER UNIT AND CASH DIST

EARNINGS PER UNIT AND CASH DISTRIBUTIONS	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	2) EARNINGS PER UNIT AND CASH DISTRIBUTIONS Earnings per unit applicable to limited partners (including subordinated unitholders) is computed by dividing limited partners’ interest in net income, after deducting amounts due pursuant to Incentive Distribution Rights (“IDRs”) by the weighted-average number of outstanding common and subordinated units. Our net income is allocated to the limited partners in accordance with their respective ownership interests, after giving effect to priority income allocations, including incentive distributions, if any, to the holders of IDRs, pursuant to our partnership agreement. Earnings in excess of distributions are allocated to the limited partners based on their respective ownership interests. Payments made to our unitholders are determined in relation to actual distributions declared and are not based on the net income allocations used in the calculation of earnings per unit. Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 Common Units 18,375,507 18,375,507 Subordinated Units 16,485,507 16,485,507 In addition to the common and subordinated units, we have also identified the IDRs as participating securities and use the two-class method when calculating the earnings per unit applicable to limited partners, which is based on the weighted-average number of common and subordinated units outstanding during the period. Basic and diluted earnings per unit applicable to limited partners are the same because we do not have any potentially dilutive units outstanding. Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 Common Subordinated Total Common Subordinated Total Net income attributable to unitholders $ 4,519 $ 4,055 $ 8,574 $ 9,526 $ 8,547 $ 18,073 Less: Distributions payable on behalf of IDRs - - - - - - Distributions payable on behalf of general partner interest - - - - - - Net income attributable to unitholders $ 4,519 $ 4,055 $ 8,574 $ 9,526 $ 8,547 $ 18,073 Weighted average limited partner units outstanding: Common Units – Public 1 11,952,500 11,952,500 Common Units – Parent 6,423,007 6,423,007 Subordinated Units – Parent 16,485,507 16,485,507 Earnings per unit $ 0.25 $ 0.25 $ 0.52 $ 0.52 1 As of 1,550,000 Cash Distributions Our partnership agreement generally provides that we will make our distributions, if any, each quarter in the following manner: · first , to all unitholders, pro rata, until each unitholder receives a total of $ 0.345 · second , 85.0 15.0 0.375 · third , 75.0 25.0 0.45 · thereafter , 50.0 50.0 In each case, the amount of the target distribution set forth above is exclusive of any distributions to common unitholders to eliminate any cumulative arrearages in payment of the minimum quarterly distribution. The percentage interests set forth above assume that we do not issue additional classes of equity securities. Total Quarterly Marginal Percentage Distribution Holders Target Amount Unitholders of IDRs Minimum Quarterly Distribution $0.30 100 % - First Target Distribution above $0.30 up to $0.345 100 % - Second Target Distribution above $0.345 up to $0.375 85 % 15 % Third Target Distribution above $0.375 up to $0.450 75 % 25 % Thereafter above $0.450 50 % 50 % Date Distributions Period Declared Amount Per Unit April 1, 2014 through June 30, 2014 July 17, 2014 $ 9,993 $ 0.3000 July 1, 2014 through September 30, 2014 October 23, 2014 $ 9,993 $ 0.3000 October 1, 2014 through December 31, 2014 January 15, 2015 $ 10,458 $ 0.3000 January 1, 2015 through March 31, 2015 April 21, 2015 $ 10,458 $ 0.3000 April 1, 2015 through June 30, 2015 July 16, 2015 $ 10,458 $ 0.3000

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	6 Months Ended
	Jun. 30, 2015
Investments, All Other Investments [Abstract]
Financial Instruments Disclosure [Text Block]	3) FINANCIAL INSTRUMENTS The Partnership’s financial assets and liabilities consist primarily of cash and cash equivalents, accounts receivable, short-term investments, accounts payable and accrued liabilities. The Partnership has exposure to counterparty credit risk, liquidity risk, interest rate risk, and other price risk with its financial assets and liabilities. The Partnership’s risk management program seeks to minimize potential adverse effects on the Partnership’s financial performance and ultimately shareholder value. The Partnership manages its risks and risk exposures through a combination of sound business practices, derivative instruments and a system of internal controls. Credit Risk — Credit risk arises from cash held with banks, credit exposure to customers (including outstanding accounts receivable), and counterparty risk associated with certain of the Partnership’s short-term investments. Cash and cash equivalents consist of bank balances. Credit risk associated with cash is minimized by ensuring that these financial assets are held at high quality financial institutions. Accounts receivable consists primarily of trade accounts receivable from storage related revenues. The Partnership’s credit risk arises from the possibility that a counterparty which owes the Partnership money is unable or unwilling to meet its obligations in accordance with the terms and conditions of the contracts with the Partnership, which would result in a financial loss for the Partnership. Credit risk associated with accounts receivable is minimized by the business model and collection policies of the Partnership. Most of the Partnership’s customers prepay their obligations at the beginning of each month and/or the Partnership has custody of customer assets at its facilities. The assets held by the Partnership belonging to its customers generally carry a market value well in excess of the accounts receivable balances due. The Partnership conducts business with a relatively few number of customers, including one affiliated customer that comprised approximately 38 36 11 12 The carrying amounts of accounts receivable are reduced through the use of an allowance for doubtful accounts and the amount of the loss is recognized in the consolidated statements of operations. The allowance for doubtful accounts is determined by specific customer balance analysis. When a receivable balance is considered uncollectable, it is written off against the allowance for accounts receivable. Subsequent recoveries of amounts previously written off reduce expenses in the consolidated statements of operations. Historically trade credit losses have been minimal. The Partnership has equity investments in marketable securities, including certain preferred and trust preferred stocks and debt securities. The Partnership seeks to mitigate risk of a financial loss by investing in what it considers to be high-quality instruments with quality counterparties.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	4) FAIR VALUE MEASUREMENTS The Partnership adopted the amendments to ASC Topic 820, Fair Value Measurements and Disclosures The fair value hierarchy has the following levels: Level 1 — Values based on unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities. Level 2 — Values based on quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, or model based valuation techniques for which all significant assumptions are observable in the market. The Partnership does not currently have any instruments with fair value determined using Level 2 inputs. Level 3 — Values are generated from model based techniques that use significant assumptions not observable in the market. Valuation techniques could include use of option pricing models, discounted cash flow models and similar techniques. The Partnership does not currently have any instruments with fair value determined using Level 3 inputs. The level in the fair value hierarchy within which the fair value measurement is categorized in its entirety is determined on the basis of the lowest level input that is significant to the fair value measurement in its entirety. June 30, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 16,566 $ - $ - $ 16,566 Short-term investments Exchange traded debt securities 498 - - 498 Preferred stocks 3,188 - - 3,188 Total short-term investments 3,686 - - 3,686 Total assets at fair value $ 20,252 $ - $ - $ 20,252 December 31, 2014 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 18,429 $ - $ - $ 18,429 Short-term investments Exchange traded debt securities 375 - - 375 Preferred stocks 4,822 - - 4,822 Trust preferred stocks 330 - - 330 Total short-term investments 5,527 5,527 Total assets at fair value $ 23,956 $ - $ - $ 23,956 For assets and liabilities that are measured using quoted prices in active markets, the total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. The following methods and assumptions were used to estimate the fair value of each class of financial instrument: Cash Equivalents — The carrying value of cash equivalents represents fair value as it is based on active market quotes available for these assets and is classified as Level 1. Short-Term Investments — The short-term investments consist of investments in listed exchange traded debt securities, preferred stocks and trust preferred securities. The securities are valued using quoted prices from the various public markets. The securities trade on public exchanges, both domestic and foreign, and can be accurately described as active markets. The observable valuation inputs are unadjusted quoted prices that represent active market trades and are classified as Level 1.

ALLOWANCE FOR DOUBTFUL RECEIVAB

ALLOWANCE FOR DOUBTFUL RECEIVABLES	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Allowance For Doubtful Accounts Receivable Disclosure [Text Block]	5) ALLOWANCE FOR DOUBTFUL RECEIVABLES June 30, December 31, 2015 2014 Allowance for doubtful receivable at January 1 $ 8 $ 95 Additions charged to expense 13 - Subtractions included in income - (87) $ 21 $ 8

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6) PROPERTY, PLANT AND EQUIPMENT Accumulated Net Book June 30, 2015 Cost Depreciation Value Land $ 32,464 $ - $ 32,464 Tanks and appenditures 224,050 124,427 99,623 Docks and jetties 17,826 5,789 12,037 Machinery and equipment 10,815 6,303 4,512 Buildings 2,500 834 1,666 Other 9,911 3,565 6,346 Assets under construction 5,714 - 5,714 $ 303,280 $ 140,918 $ 162,362 Accumulated Net Book December 31, 2014 Cost Depreciation Value Land $ 30,186 $ - $ 30,186 Tanks and appenditures 200,516 114,860 85,656 Docks and jetties 17,767 4,947 12,820 Machinery and equipment 9,779 5,427 4,352 Buildings 2,312 777 1,535 Other 8,756 3,103 5,653 Assets under construction 2,970 - 2,970 $ 272,286 $ 129,114 $ 143,172

TERMINAL ACQUISITIONS

TERMINAL ACQUISITIONS	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	7) TERMINAL ACQUISITIONS On January 1, 2015, the Partnership acquired a terminal facility in Greensboro, North Carolina which has a total shell capacity of 684,000 and one of its subsidiaries, 1,550,000 31,186 48 Contribution consideration Property, plant and equipment $ 18,951 Goodwill 5,695 Acquired customer contracts 6,540 Total consideration 31,186 Closing costs 48 Additive inventory 53 Total terminal cost $ 31,287 In June 2014, the Partnership acquired two terminals in Mobile, Alabama that will have a total shell capacity of 1,826,000 The Chickasaw terminal has a total storage capacity of 644,000 6,553 The Blakeley Island terminal has a total storage capacity of 1,182,000 7,191 The Partnership’s allocation of the purchase price for the Chickasaw and Blakeley Island terminals was based on an evaluation of the appropriate fair values and represents management’s best estimate based on available data. There were no other identifiable assets or liabilities for these acquisitions. Pro forma information related to these acquisitions is not presented because the impact of the acquisitions on the Partnership’s consolidated results of operations is not significant.

ACQUIRED CUSTOMER CONTRACTS

ACQUIRED CUSTOMER CONTRACTS	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Intangible Assets Disclosure [Text Block]	8) ACQUIRED CUSTOMER CONTRACTS In connection with the acquisition of the terminal facility in Greensboro, North Carolina, the Partnership has made a preliminary allocation of $ 6,540 June 30, December 31, 2015 2014 Cost $ 6,540 $ - Less accumulated amortization (654) - $ 5,886 $ -

COMMITMENTS

COMMITMENTS	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	9) COMMITMENTS The Partnership leases land and other use rights at some of its facilities. Lease expense totaled $ 577 672 expire from March 31, 2016 through February 1, 2061 2015 $ 264 2016 566 2017 551 2018 551 2019 461 Thereafter 27 $ 2,420

DEBT

DEBT	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	10) DEBT On August 14, 2013, Center Point entered into a $ 200,000 20,000 20,000 100,000 Center Point incurred costs of $ 910 302 1,900 2,202

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	6 Months Ended
	Jun. 30, 2015
Asset Retirement Obligation Disclosure [Abstract]
Asset Retirement Obligation Disclosure [Text Block]	11) ASSET RETIREMENT OBLIGATIONS The Partnership has recorded a liability for the estimated costs of removing its terminal assets from those terminals located on leased land where the landowners have the right to require the Partnership to remove the assets. The recorded liability was $ 640 622 10,135 July 13, 2034 February 1, 2061

SEGMENT REPORTING

SEGMENT REPORTING	6 Months Ended
	Jun. 30, 2015
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	12) SEGMENT REPORTING The Partnership derives revenues from operating its seventeen liquid bulk storage and terminal facilities. The seventeen operating segments have been aggregated into one reportable segment because the facilities have similar long-term economic characteristics, products and types of customers.

EMPLOYEE BENEFIT PLANS

EMPLOYEE BENEFIT PLANS	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Compensation and Employee Benefit Plans [Text Block]	13) EMPLOYEE BENEFIT PLANS The Partnership offers a defined contribution savings plan. Under this plan, the Partnership matches the amount of employee contributions to specified limits. Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 $ 62 $ 38 $ 119 $ 70

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Income Tax Disclosure [Text Block]	14) INCOME TAXES The Partnership’s taxable income flows through to its partners, who generally will be responsible for the appropriate taxes due on the taxable income. However, the Partnership or its subsidiaries continue to be treated as taxable entities and pay taxes in some state and local jurisdictions. For the Three Months For the Six Months 2015 2014 2015 2014 Current $ 22 $ 53 $ 30 $ 73 Deferred - - - - Total $ 22 $ 53 $ 30 $ 73 The Partnership and its subsidiaries file income tax returns in the U.S. and various states. With few exceptions, the Partnership is no longer subject to U.S. federal, state, and local income tax examinations by tax authorities for years before 2011. As of June 30, 2015 and December 31, 2014, the Partnership did not have any unrecognized tax benefits recorded in the consolidated balance sheets.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	15) RELATED PARTY TRANSACTIONS AND BALANCES The Partnership enters into transactions with companies in which our parent, and its affiliates, are significant owners (“affiliate” or “affiliated company”). The amounts shown below have been recorded at their exchange value, which is the amount of consideration agreed to by the related parties. Affiliated companies provide management and marketing services to the Partnership’s facilities and are reimbursed for direct and indirect costs associated with those services, which includes compensation of its employees and payment for supplies and equipment. For the Three Months For the Six Months 2015 2014 2015 2014 Operating costs $ 653 $ 802 $ 1,386 $ 1,473 Reimbursement for management and marketing services 441 451 891 905 $ 1 094 $ 1,253 $ 2,277 $ 2,378 For the Three Months For the Six Months 2015 2014 2015 2014 Affiliate revenues $ 9,254 $ 8,042 $ 19,123 $ 16,361 June 30, 2015 December 31, 2014 Accounts receivable - affiliates $ 4,379 $ 2,391 Prepaid insurance – affiliates 495 93 Due to affiliates 1,170 1,411 Deferred revenue – short-term – affiliates 802 656 Deferred revenue – long-term – affiliates 2,472 1,106

DEFERRED REVENUE

DEFERRED REVENUE	6 Months Ended
	Jun. 30, 2015
Deferred Revenue Disclosure [Abstract]
Deferred Revenue Disclosure [Text Block]	16) DEFERRED REVENUE The Partnership has entered into arrangements with Apex to provide certain terminaling services at the Partnership’s facilities. The arrangements establish the pricing and require Apex to prepay for a portion of future services. The Partnership has recorded the prepayments as deferred revenue . June 30, December 31, 2015 2014 Balance at January 1 $ 1,762 $ 1,911 Additions 2,001 254 Amortization (235) (403) Balance at period end $ 3,528 $ 1,762 Deferred revenue – short-term $ 254 $ - Deferred revenue – short-term – affiliates $ 802 $ 656 Deferred revenue – long-term – affiliates $ 2,472 $ 1,106

CONTINGENCIES

CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Contingencies Disclosure [Text Block]	17) CONTINGENCIES The Partnership is subject to extensive environmental laws and regulations in the jurisdictions in which it operates. Additionally, the Partnership has contingent liabilities with respect to other lawsuits and other potential matters arising in the ordinary course of business. In management’s opinion, the ultimate outcome of these contingencies will not have a material impact on the results of operations, cash flows or financial condition of the Partnership. As a result, the Partnership has not accrued for any loss contingencies in 2015 and 2014.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Shareholders Equity and Share-based Payments [Text Block]	18) EQUITY-BASED COMPENSATION The Partnership has a Long-Term Incentive Plan (the “LTIP”) for providing long-term incentives to our employees, directors and consultants who provide services to us. The plan is administered by the board of directors of our General Partner (the “Board of Directors”). The Board of Directors has authority to: (i) designate participants; (ii) determine types of awards; (iii) determine number of units covered by the award; (iv) determine terms and conditions of awards; (v) determine how and when awards might be settled; and (vi) interpret and administer the plan and take other such actions as might be necessary for the proper administration of the plan. The LTIP provides for the issuance of an aggregate of up to 3,000,000 340,000 Restricted Vested Fair Value at Units Awarded Units Award Date September 24, 2013 1 90,000 16,665 $ 20.21 April 23, 2014 2 250,000 - $ 23.20 1 Units awarded to directors of General Partner and Parent 2 Units awarded to the chairman of General Partner Non-cash compensation expense relating to equity-based compensation was recorded as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 $ 635 $ 510 $ 1,270 $ 662 As of June 30, 2015 and December 31, 2014, the Partnership had unrecognized compensation expense of $4,253 and $5,523, respectively

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	19) SUBSEQUENT EVENTS On July 16, 2015 the Board of Directors declared a cash distribution of $ 0.30

EARNINGS PER UNIT AND CASH DI26

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Earnings Per Share [Abstract]
Schedule of Weighted Average Number of Shares [Table Text Block]	The weighted-average number of units outstanding was as follows: Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 Common Units 18,375,507 18,375,507 Subordinated Units 16,485,507 16,485,507
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended Six Months Ended June 30, 2015 June 30, 2015 Common Subordinated Total Common Subordinated Total Net income attributable to unitholders $ 4,519 $ 4,055 $ 8,574 $ 9,526 $ 8,547 $ 18,073 Less: Distributions payable on behalf of IDRs - - - - - - Distributions payable on behalf of general partner interest - - - - - - Net income attributable to unitholders $ 4,519 $ 4,055 $ 8,574 $ 9,526 $ 8,547 $ 18,073 Weighted average limited partner units outstanding: Common Units – Public 1 11,952,500 11,952,500 Common Units – Parent 6,423,007 6,423,007 Subordinated Units – Parent 16,485,507 16,485,507 Earnings per unit $ 0.25 $ 0.25 $ 0.52 $ 0.52 1 As of 1,550,000
Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]	If cash distributions to our unitholders exceed $0.345 per unit in any quarter, our unitholders and the holders of IDRs will receive distributions according to the following percentage allocations: Total Quarterly Marginal Percentage Distribution Holders Target Amount Unitholders of IDRs Minimum Quarterly Distribution $0.30 100 % - First Target Distribution above $0.30 up to $0.345 100 % - Second Target Distribution above $0.345 up to $0.375 85 % 15 % Third Target Distribution above $0.375 up to $0.450 75 % 25 % Thereafter above $0.450 50 % 50 %
Distributions Made to Limited Partner, by Distribution [Table Text Block]	The following table sets forth the distribution declared in total and per limited partner unit attributable to the periods indicated: Date Distributions Period Declared Amount Per Unit April 1, 2014 through June 30, 2014 July 17, 2014 $ 9,993 $ 0.3000 July 1, 2014 through September 30, 2014 October 23, 2014 $ 9,993 $ 0.3000 October 1, 2014 through December 31, 2014 January 15, 2015 $ 10,458 $ 0.3000 January 1, 2015 through March 31, 2015 April 21, 2015 $ 10,458 $ 0.3000 April 1, 2015 through June 30, 2015 July 16, 2015 $ 10,458 $ 0.3000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]	The financial assets and financial liabilities, measured at fair value in the consolidated balance sheets, consisted of the following as of June 30, 2015 and December 31, 2014: June 30, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 16,566 $ - $ - $ 16,566 Short-term investments Exchange traded debt securities 498 - - 498 Preferred stocks 3,188 - - 3,188 Total short-term investments 3,686 - - 3,686 Total assets at fair value $ 20,252 $ - $ - $ 20,252 December 31, 2014 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 18,429 $ - $ - $ 18,429 Short-term investments Exchange traded debt securities 375 - - 375 Preferred stocks 4,822 - - 4,822 Trust preferred stocks 330 - - 330 Total short-term investments 5,527 5,527 Total assets at fair value $ 23,956 $ - $ - $ 23,956

ALLOWANCE FOR DOUBTFUL RECEIV28

ALLOWANCE FOR DOUBTFUL RECEIVABLES (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Schedule of Allowance For Doubtful Accounts [Table Text Block]	The following table displays a roll forward of the allowance for doubtful trade receivables for the six months ended June 30, 2015 and the year ended December 31, 2014: June 30, December 31, 2015 2014 Allowance for doubtful receivable at January 1 $ 8 $ 95 Additions charged to expense 13 - Subtractions included in income - (87) $ 21 $ 8

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	6 Months Ended
	Jun. 30, 2015
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant, and equipment consisted of the following as of June 30, 2015 and December 31, 2014: Accumulated Net Book June 30, 2015 Cost Depreciation Value Land $ 32,464 $ - $ 32,464 Tanks and appenditures 224,050 124,427 99,623 Docks and jetties 17,826 5,789 12,037 Machinery and equipment 10,815 6,303 4,512 Buildings 2,500 834 1,666 Other 9,911 3,565 6,346 Assets under construction 5,714 - 5,714 $ 303,280 $ 140,918 $ 162,362 Accumulated Net Book December 31, 2014 Cost Depreciation Value Land $ 30,186 $ - $ 30,186 Tanks and appenditures 200,516 114,860 85,656 Docks and jetties 17,767 4,947 12,820 Machinery and equipment 9,779 5,427 4,352 Buildings 2,312 777 1,535 Other 8,756 3,103 5,653 Assets under construction 2,970 - 2,970 $ 272,286 $ 129,114 $ 143,172

TERMINAL ACQUISITIONS (Tables)

TERMINAL ACQUISITIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The Partnership has made a preliminary allocation, which may be subject to revision, of the contribution consideration to the assets acquired as follows: Contribution consideration Property, plant and equipment $ 18,951 Goodwill 5,695 Acquired customer contracts 6,540 Total consideration 31,186 Closing costs 48 Additive inventory 53 Total terminal cost $ 31,287

ACQUIRED CUSTOMER CONTRACTS (Ta

ACQUIRED CUSTOMER CONTRACTS (Tables)	6 Months Ended
	Jun. 30, 2015
Business Combinations [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Acquired customer contracts consisted of the following at June 30, 2015 and December 31, 2014: June 30, December 31, 2015 2014 Cost $ 6,540 $ - Less accumulated amortization (654) - $ 5,886 $ -

COMMITMENTS (Tables)

COMMITMENTS (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	Minimum rental commitments for all storage facilities of the Partnership under existing non-cancelable operating leases for the remainder of 2015 and for the years ending December 31 thereafter are as follows: 2015 $ 264 2016 566 2017 551 2018 551 2019 461 Thereafter 27 $ 2,420

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	6 Months Ended
	Jun. 30, 2015
Compensation and Retirement Disclosure [Abstract]
Schedule of Defined Benefit Plans Disclosures [Table Text Block]	The Partnership’s employee benefit plan related expenses for the periods indicated were: Three Months Ended Six Months Ended June 30, June 30, 2015 2014 2015 2014 $ 62 $ 38 $ 119 $ 70

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2015
Income Tax Disclosure [Abstract]
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	The provision for income taxes from operations consists of the following: For the Three Months For the Six Months 2015 2014 2015 2014 Current $ 22 $ 53 $ 30 $ 73 Deferred - - - - Total $ 22 $ 53 $ 30 $ 73

RELATED PARTY TRANSACTIONS AN35

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	6 Months Ended
	Jun. 30, 2015
Charges For Related Party Services [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions [Table Text Block]	Total charges for related party services were as follows: For the Three Months For the Six Months 2015 2014 2015 2014 Operating costs $ 653 $ 802 $ 1,386 $ 1,473 Reimbursement for management and marketing services 441 451 891 905 $ 1 094 $ 1,253 $ 2,277 $ 2,378
Revenue From Affiliate Companies [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions [Table Text Block]	The Partnership earned storage revenue from affiliate companies for the periods indicated of: For the Three Months For the Six Months 2015 2014 2015 2014 Affiliate revenues $ 9,254 $ 8,042 $ 19,123 $ 16,361
Assets and Liabilities [Member]
Related Party Transaction [Line Items]
Schedule of Related Party Transactions [Table Text Block]	The Partnerships assets and liabilities included the following related party balances: June 30, 2015 December 31, 2014 Accounts receivable - affiliates $ 4,379 $ 2,391 Prepaid insurance – affiliates 495 93 Due to affiliates 1,170 1,411 Deferred revenue – short-term – affiliates 802 656 Deferred revenue – long-term – affiliates 2,472 1,106

DEFERRED REVENUE (Tables)

DEFERRED REVENUE (Tables)	6 Months Ended
	Jun. 30, 2015
Deferred Revenue Disclosure [Abstract]
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	The following table summarizes the Partnership’s deferred revenue activity: June 30, December 31, 2015 2014 Balance at January 1 $ 1,762 $ 1,911 Additions 2,001 254 Amortization (235) (403) Balance at period end $ 3,528 $ 1,762 Deferred revenue – short-term $ 254 $ - Deferred revenue – short-term – affiliates $ 802 $ 656 Deferred revenue – long-term – affiliates $ 2,472 $ 1,106

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2015
Equity [Abstract]
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity [Table Text Block]	The following table summarizes awards granted pursuant to the LTIP through June 30, 2015. There were no forfeitures through June 30, 2015. Restricted Vested Fair Value at Units Awarded Units Award Date September 24, 2013 1 90,000 16,665 $ 20.21 April 23, 2014 2 250,000 - $ 23.20 1 Units awarded to directors of General Partner and Parent 2 Units awarded to the chairman of General Partner
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	Non-cash compensation expense relating to equity-based compensation was recorded as follows: Three Months Ended Six Months Ended 2015 2014 2015 2014 $ 635 $ 510 $ 1,270 $ 662

EARNINGS PER UNIT AND CASH DI38

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details) - Jun. 30, 2015 - shares	Total	Total
Common Units [Member]
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Number of Shares Outstanding, Basic	18,375,507	18,375,507
Subordinate Unit [Member]
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Number of Shares Outstanding, Basic	16,485,507	16,485,507

EARNINGS PER UNIT AND CASH DI39

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details 1) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Earning Per Share and Cash Distributions [Line Items]
Net income		$ 8,574	$ 9,054	$ 18,073	$ 17,923
Distributions payable on behalf of IDRs		0		0
Distributions payable on behalf of general partner interest		0		0
Net income		8,574		18,073
Common Stock [Member]
Earning Per Share and Cash Distributions [Line Items]
Net income		4,519		9,526
Distributions payable on behalf of IDRs		0		0
Distributions payable on behalf of general partner interest		0		0
Net income		$ 4,519		$ 9,526
Weighted Average Limited Partnership Units		6,423,007		6,423,007
Earnings per unit		$ 0.25		$ 0.52
Subordinate Unit [Member]
Earning Per Share and Cash Distributions [Line Items]
Net income		$ 4,055		$ 8,547
Distributions payable on behalf of IDRs		0		0
Distributions payable on behalf of general partner interest		0		0
Net income		$ 4,055		$ 8,547
Weighted Average Limited Partnership Units		16,485,507		16,485,507
Earnings per unit		$ 0.25		$ 0.52
IPO [Member] | Common Stock [Member]
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Limited Partnership Units	[1]	11,952,500		11,952,500
[1]	As of June 30, 2015, Apex Oil Company, Inc. (“Apex”) owns 1,550,000 of the total 11,952,500 common units – public.

EARNINGS PER UNIT AND CASH DI40

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details 2) - 6 months ended Jun. 30, 2015	Total
Minimum Quarterly Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	0.30
Marginal Percentage Interest In Distribution To Unit Holders	100.00%
Marginal Percentage Interest In Distribution To Holders Of IDRs	0.00%
First Target Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	above 0.30 up to 0.345
Marginal Percentage Interest In Distribution To Unit Holders	100.00%
Marginal Percentage Interest In Distribution To Holders Of IDRs	0.00%
Second Target Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	above 0.345 up to 0.375
Marginal Percentage Interest In Distribution To Unit Holders	85.00%
Marginal Percentage Interest In Distribution To Holders Of IDRs	15.00%
Third Target Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	above 0.375 up to 0.450
Marginal Percentage Interest In Distribution To Unit Holders	75.00%
Marginal Percentage Interest In Distribution To Holders Of IDRs	25.00%
Thereafter [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	above 0.450
Marginal Percentage Interest In Distribution To Unit Holders	50.00%
Marginal Percentage Interest In Distribution To Holders Of IDRs	50.00%

EARNINGS PER UNIT AND CASH DI41

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details 3) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014
Earning Per Share and Cash Distributions [Line Items]
Distribution Made to Limited Partner, Declaration Date	Jul. 16, 2015	Apr. 21, 2015	Jan. 15, 2015	Oct. 23, 2014	Jul. 17, 2014
Distribution Made to Limited Partner, Cash Distributions Declared	$ 10,458	$ 10,458	$ 10,458	$ 9,993	$ 9,993
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000

EARNINGS PER UNIT AND CASH DI42

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details Textual) - Equity Component [Domain] - $ / shares	3 Months Ended					6 Months Ended
	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Jun. 30, 2015
Earning Per Share and Cash Distributions [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000
First Target Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Marginal Percentage Interest In Distribution To Unit Holders						100.00%
Marginal Percentage Interest In Distribution To Holder Of Idrs						0.00%
Distribution Made to Limited Partner, Distributions Declared, Per Unit						$ 0.345
Second Target Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Marginal Percentage Interest In Distribution To Unit Holders						85.00%
Marginal Percentage Interest In Distribution To Holder Of Idrs						15.00%
Distribution Made to Limited Partner, Distributions Declared, Per Unit						$ 0.375
Third Target Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Marginal Percentage Interest In Distribution To Unit Holders						75.00%
Marginal Percentage Interest In Distribution To Holder Of Idrs						25.00%
Distribution Made to Limited Partner, Distributions Declared, Per Unit						$ 0.45
Thereafter [Member]
Earning Per Share and Cash Distributions [Line Items]
Marginal Percentage Interest In Distribution To Unit Holders						50.00%
Marginal Percentage Interest In Distribution To Holder Of Idrs						50.00%
Apex Oil Company, Inc [Member]
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Limited Partnership Units Outstanding, Basic						1,550,000

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details Textual)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Customer One [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Concentration Risk, Percentage	38.00%	36.00%
Customer Two [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Concentration Risk, Percentage	11.00%	12.00%

FAIR VALUE MEASUREMENTS (Detail

FAIR VALUE MEASUREMENTS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	$ 3,686	$ 5,527
Total assets at fair value	20,252	23,956
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	3,686	5,527
Total assets at fair value	20,252	23,956
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0
Total assets at fair value	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0
Total assets at fair value	0	0
Trust preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments		330
Trust preferred stocks [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments		330
Trust preferred stocks [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments		0
Trust preferred stocks [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments		0
Exchange traded debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	498	375
Exchange traded debt securities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	498	375
Exchange traded debt securities [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Exchange traded debt securities [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	3,188	4,822
Preferred stocks [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	3,188	4,822
Preferred stocks [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Preferred stocks [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	0	0
Cash and cash equivalents [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	16,566	18,429
Cash and cash equivalents [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	16,566	18,429
Cash and cash equivalents [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	0	0
Cash and cash equivalents [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and Cash Equivalents, Fair Value Disclosure	$ 0	$ 0

ALLOWANCE FOR DOUBTFUL RECEIV45

ALLOWANCE FOR DOUBTFUL RECEIVABLES (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Allowance For Doubtful Receivables [Line Items]
Allowance for doubtful receivable beginning value	$ 8	$ 95
Additions charged to expense	13	0
Subtractions included in income	0	(87)
Allowance for doubtful receivable ending value	$ 21	$ 8

PROPERTY, PLANT AND EQUIPMENT46

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Property, Plant and Equipment [Line Items]
Cost	$ 303,280	$ 272,286
Accumulated Depreciation	140,918	129,114
Net Book Value	162,362	143,172
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	32,464	30,186
Accumulated Depreciation	0	0
Net Book Value	32,464	30,186
Tanks and appenditures [Member]
Property, Plant and Equipment [Line Items]
Cost	224,050	200,516
Accumulated Depreciation	124,427	114,860
Net Book Value	99,623	85,656
Docks and jetties [Member]
Property, Plant and Equipment [Line Items]
Cost	17,826	17,767
Accumulated Depreciation	5,789	4,947
Net Book Value	12,037	12,820
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	10,815	9,779
Accumulated Depreciation	6,303	5,427
Net Book Value	4,512	4,352
Buildings [Member]
Property, Plant and Equipment [Line Items]
Cost	2,500	2,312
Accumulated Depreciation	834	777
Net Book Value	1,666	1,535
Other [Member]
Property, Plant and Equipment [Line Items]
Cost	9,911	8,756
Accumulated Depreciation	3,565	3,103
Net Book Value	6,346	5,653
Assets under construction [Member]
Property, Plant and Equipment [Line Items]
Cost	5,714	2,970
Accumulated Depreciation	0	0
Net Book Value	$ 5,714	$ 2,970

TERMINAL ACQUISITIONS (Details)

TERMINAL ACQUISITIONS (Details) $ in Thousands	Jun. 30, 2015USD ($)
Contribution consideration
Property, plant and equipment	$ 18,951
Goodwill	5,695
Acquired customer contracts	6,540
Total consideration	31,186
Closing costs	48
Additive inventory	53
Total terminal cost	$ 31,287

TERMINAL ACQUISITIONS (Details

TERMINAL ACQUISITIONS (Details Textual) $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)sharesbbl	Jun. 30, 2014USD ($)bbl
Business Acquisition [Line Items]
Total Storage capacity of terminals (In Actuals) | bbl		1,826,000
Business Acquisition, Transaction Costs	$ 48
Chickasaw terminal [Member]
Business Acquisition [Line Items]
Total Storage capacity of terminals (In Actuals) | bbl		644,000
Property, Plant, and Equipment, Fair Value Disclosure		$ 6,553
Blakeley Island terminal [Member]
Business Acquisition [Line Items]
Total Storage capacity of terminals (In Actuals) | bbl		1,182,000
Property, Plant, and Equipment, Fair Value Disclosure		$ 7,191
North Carolina [Member]
Business Acquisition [Line Items]
Total Storage capacity of terminals (In Actuals) | bbl	684,000
Stock Issued During Period, Shares, Acquisitions | shares	1,550,000
Business Combination, Consideration Transferred	$ 31,186
Business Acquisition, Transaction Costs	$ 48

ACQUIRED CUSTOMER CONTRACTS (De

ACQUIRED CUSTOMER CONTRACTS (Details) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired customer contracts, Total	$ 5,886	$ 0
Customer Contracts [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	6,540	0
Less accumulated amortization	(654)	0
Acquired customer contracts, Total	$ 5,886	$ 0

ACQUIRED CUSTOMER CONTRACTS (50

ACQUIRED CUSTOMER CONTRACTS (Details Textual) $ in Thousands	Jun. 30, 2015USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 6,540

COMMITMENTS (Details)

COMMITMENTS (Details) $ in Thousands	Jun. 30, 2015USD ($)
Commitments [Line Items]
2,015	$ 264
2,016	566
2,017	551
2,018	551
2,019	461
Thereafter	27
Operating Leases, Future Minimum Payments Due, Total	$ 2,420

COMMITMENTS (Details Textual)

COMMITMENTS (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Commitments [Line Items]
Operating Leases, Rent Expense	$ 577	$ 672
Lease Expiration Term	expire from March31, 2016 through February1, 2061

DEBT (Details Textual)

DEBT (Details Textual) - Bank of Tokyo-Mitsubishi UFJ, Ltd [Member] - USD ($) $ in Thousands	Aug. 14, 2013	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Line of Credit Facility, Maximum Borrowing Capacity	$ 200,000
Letters of Credit Outstanding, Amount	20,000
Line of Credit Facility, Collateral Fees, Amount	910
Financing Interest Expense		$ 302	$ 302
Line Of Credit Facility Increase In Commitment Maximum Limit	100,000
Debt Instrument, Future Estimated Minimum Loan Commitment Fees		$ 1,900		$ 2,202
Swing Line Loans [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 20,000

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Asset Retirement Obligations [Line Items]
Other Liabilities, Noncurrent	$ 640	$ 622
Credit Derivative, Maximum Exposure, Undiscounted	$ 10,135
Maximum [Member]
Asset Retirement Obligations [Line Items]
Lease Expiration Date	Feb. 1, 2061
Minimum [Member]
Asset Retirement Obligations [Line Items]
Lease Expiration Date	Jul. 13, 2034

EMPLOYEE BENEFIT PLANS (Details

EMPLOYEE BENEFIT PLANS (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost Recognized	$ 62	$ 38	$ 119	$ 70

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Income Tax Disclosure [Line Items]
Current	$ 22	$ 53	$ 30	$ 73
Deferred	0	0	0	0
Total	$ 22	$ 53	$ 30	$ 73

RELATED PARTY TRANSACTIONS AN57

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Operating costs	$ 653	$ 802	$ 1,386	$ 1,473
Reimbursement for management and marketing services	441	451	891	905
Total Charges For Related Party Services	$ 1,094	$ 1,253	$ 2,277	$ 2,378

RELATED PARTY TRANSACTIONS AN58

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Related Party Transaction [Line Items]
Affiliate revenues	$ 9,254	$ 8,042	$ 19,123	$ 16,361

RELATED PARTY TRANSACTIONS AN59

RELATED PARTY TRANSACTIONS AND BALANCES (Details 2) - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Accounts receivable - affiliates	$ 4,379	$ 2,391
Prepaid insurance - affiliates	495	93
Due to affiliates	1,170	1,411
Deferred revenue - short-term - affiliates	802	656
Deferred revenue - long-term - affiliates	$ 2,472	$ 1,106

DEFERRED REVENUE (Details)

DEFERRED REVENUE (Details) - USD ($) $ in Thousands	6 Months Ended	12 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Deferred Revenue [Line Items]
Balance at January 1	$ 1,762	$ 1,911
Additions	2,001	254
Amortization	(235)	(403)
Balance at period end	3,528	1,762
Deferred revenue - short-term	254	0
Deferred revenue - short-term - affiliates	802	656
Deferred revenue - long-term - affiliates	$ 2,472	$ 1,106

EQUITY-BASED COMPENSATION (Deta

EQUITY-BASED COMPENSATION (Details) - 6 months ended Jun. 30, 2015 - $ / shares		Total
September 24, 2013 [Memeber]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Units Awarded	[1]	90,000
Vested Units	[1]	16,665
Fair Value at Award Date	[1]	$ 20.21
April 23, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Restricted Units Awarded	[2]	250,000
Vested Units	[2]	0
Fair Value at Award Date	[2]	$ 23.20
[1]	Units awarded to directors of General Partner and Parent
[2]	Units awarded to the chairman of General Partner

EQUITY-BASED COMPENSATION (De62

EQUITY-BASED COMPENSATION (Details 1) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Equity Based Compensation Non Cash Compensaion Expense [Line Items]
Non-cash compensation expense	$ 635	$ 510	$ 1,270	$ 662

EQUITY-BASED COMPENSATION (De63

EQUITY-BASED COMPENSATION (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	3,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	340,000
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Total	$ 4,253	$ 5,523
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	3 years

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual)	3 Months Ended
	Jun. 30, 2015$ / shares
Subsequent Event [Member]
Cash Distribution Declared to Unit Holders	$ 0.30