World Point Terminals 10-Q 9 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 09, 2016
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	World Point Terminals, LP
Entity Central Index Key	1,574,963
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Trading Symbol	WPT
Entity Common Stock, Shares Outstanding		18,375,507

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Current Assets
Cash and cash equivalents	$ 11,341	$ 12,186
Accounts receivable, net of allowances of $93 and $25, respectively	3,073	2,603
Accounts receivable - affiliates	1,823	810
Short-term investments	5,019	3,857
Prepaid insurance	189	161
Prepaid insurance - affiliates	222	110
Income tax receivable	1	54
Other current assets	727	553
Total current assets	22,395	20,334
Property, plant and equipment, net	170,455	171,488
Goodwill	559	559
Acquired customer contracts, net	3,705	4,560
Investment in joint venture	8,372	8,961
Other assets	382	521
Total Assets	205,868	206,423
Current Liabilities
Accounts payable	3,249	4,274
Accrued liabilities	1,477	1,195
Due to affiliate companies	416	1,431
Deferred revenue - short-term - affiliates	1,608	802
Income taxes payable	53	102
Total current liabilities	6,803	7,804
Deferred revenue - long-term	340	254
Deferred revenue - long-term - affiliates	4,289	2,071
Other noncurrent liabilities	1,095	1,253
Total liabilities	12,527	11,382
Commitments and contingencies (Notes 9 and 17)
Partners’ Equity
Common units (18,375,507 units issued and outstanding at September 30, 2016 and December 31, 2015)	139,379	139,380
Subordinated units (16,485,507 units issued and outstanding at September 30, 2016 and December 31, 2015)	53,962	55,661
General partner interest (0% interest)	0	0
Total partners’ equity	193,341	195,041
Total Liabilities and Partners’ Equity	$ 205,868	$ 206,423

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets [Parenthetical] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts receivable, net of allowances	$ 93	$ 25
Common Unit, Issued (in units)	18,375,507	18,375,507
Common Unit, Outstanding (in units)	18,375,507	18,375,507
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 Income - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
REVENUES
Third parties	$ 15,783	$ 13,762	$ 44,470	$ 44,219
Affiliates	9,420	8,723	30,408	27,846
Revenues, Total	25,203	22,485	74,878	72,065
OPERATING COSTS, EXPENSES AND OTHER
Operating expenses	7,680	6,529	21,561	21,179
Operating expenses reimbursed to affiliates	1,182	1,143	3,168	2,529
Selling, general and administrative expenses	981	990	2,872	2,950
Selling, general and administrative expenses reimbursed to affiliates	624	654	1,810	1,545
Depreciation and amortization	5,999	6,498	17,892	18,956
Income from joint venture	(210)	(432)	(627)	(602)
Total operating costs, expenses and other	16,256	15,382	46,676	46,557
INCOME FROM OPERATIONS	8,947	7,103	28,202	25,508
OTHER INCOME/(EXPENSE)
Interest expense	(209)	(209)	(623)	(620)
Interest and dividend income	61	55	171	232
Gain on investments and other-net	18	115	143	47
Income before income taxes	8,817	7,064	27,893	25,167
Provision for income taxes	19	77	111	107
NET INCOME	$ 8,798	$ 6,987	$ 27,782	$ 25,060
BASIC AND DILUTED EARNINGS PER UNIT ATTRIBUTABLE TO UNITHOLDERS
Common (in dollars per share)	$ 0.25	$ 0.2	$ 0.8	$ 0.72
Subordinated (in dollars per share)	$ 0.25	$ 0.2	$ 0.8	$ 0.72
WEIGHTED AVERAGE NUMBER OF UNITS OUTSTANDING
Common (in shares)	18,375,507	18,375,507	18,375,507	18,375,507
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	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash flows provided by operating activities
Net income	$ 27,782	$ 25,060
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,892	18,956
Amortization of deferred financing costs	139	138
Gain on disposal of fixed assets	(3)	0
Loss (gain) on marketable securities	(79)	35
Equity based compensation	1,894	1,905
Income from joint venture	(627)	(602)
Distribution from joint venture	1,216	0
Changes in operating assets and liabilities (net of effects of acquisitions):
Accounts receivable	(470)	78
Prepaid insurance	(140)	(161)
Other current assets and other assets	(174)	(3)
Accounts payable	(1,202)	(1,959)
Accrued liabilities	281	748
Deferred revenue	3,110	1,566
Income taxes payable/receivable	4	(131)
Due to affiliated companies	(2,028)	1,354
Other noncurrent liabilities	(158)	27
Net cash provided by operating activities	47,437	47,011
Cash flows from investing activities
Purchase of short-term investments	(1,083)	(129)
Proceeds from sale of short-term investments	0	1,873
Proceeds from sale of fixed assets	7	0
Capital expenditures	(15,831)	(18,681)
Net cash used in investing activities	(16,907)	(16,937)
Cash flows from financing activities
Distributions to unitholders	(31,375)	(31,374)
Net cash used in financing activities	(31,375)	(31,374)
Net change in cash and cash equivalents	(845)	(1,300)
Cash and cash equivalents at beginning of year	12,186	18,429
Cash and cash equivalents at end of period	11,341	17,129
Cash paid for interest	457	455
Cash paid for income taxes	117	237
Noncash investing transactions - property and equipment additions included in accounts payable	1,350	1,180
Noncash financing and investing transactions - issuance of units for acquisition of terminal business	$ 0	$ 31,186

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, 2014		$ 110,241	$ 59,777	$ 0
Equity based compensation expense		2,540	0	0
Net income		17,463	15,666	0
Distributions		(22,050)	(19,782)	0
Issuance of units for acquisition of terminal assets		31,186	0	0
BALANCE at Dec. 31, 2015		139,380	55,661	0
Equity based compensation expense		1,893		0
Net income	$ 27,782	14,644	13,138	0
Distributions		(16,538)	(14,837)	0
BALANCE at Sep. 30, 2016		$ 139,379	$ 53,962	$ 0

BUSINESS AND BASIS OF PRESENTAT

BUSINESS AND BASIS OF PRESENTATION	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Business Description and Basis of Presentation [Text Block]	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. Basis of Presentation These unaudited interim condensed consolidated financial statements were prepared under the rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) and in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial statements. Accordingly, these financial statements do not include all of the disclosures required by GAAP and should be read along with the Partnership’s 2015 audited consolidated financial statements and related notes included in our Annual Report on Form 10-K for the year ended December 31, 2015. The Partnership’s financial statements as of September 30, 2016, and for the three and nine months ended September 30, 2016 and 2015, are unaudited and have been prepared on the same basis as the annual consolidated financial statements. All intercompany accounts and transactions have been eliminated in the preparation of the accompanying financial statements. The preparation of financial statements in conformity with GAAP 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 nine months ended September 30, 2016 and 2015. 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	9 Months Ended
	Sep. 30, 2016
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 Nine Months Ended Common Units 18,375,507 18,375,507 Subordinated Units 16,485,507 16,485,507 The end of the subordination period will occur upon payment of the third-quarter 2016 distribution on November 14, 2016, at which time, each outstanding subordinated unit will convert into one common unit and will thereafter participate on terms equal to all other common units in distributions of available cash. 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 Nine Months Ended Common Subordinated Total Common Subordinated Total Net income attributable to unitholders $ 4,637 $ 4,161 $ 8,798 $ 14,644 $ 13,138 $ 27,782 Less: Distributions payable on behalf of IDRs - - - - - - Distributions payable on behalf of general partner interest - - - - - - Net income attributable to unitholders $ 4,637 $ 4,161 $ 8,798 $ 14,644 $ 13,138 $ 27,782 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 $ 0.80 $ 0.80 1 As of September 30, 2016, Apex Oil Company, Inc. (“Apex”) owns 1,550,000 11,952,500 Cash Distributions Our partnership agreement generally provides that we will make our distributions, if any, each quarter in the following manner: · first 0.345 · second 85.0 15.0 0.375 · third 75.0 25.0 , until each unitholder receives a total of $ 0.45 ⋅ thereafter 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 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 Period Date Amount Per Unit 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 July 1, 2015 through September 30, 2015 October 14, 2015 $ 10,458 $ 0.3000 October 1, 2015 through December 31, 2015 January 14, 2016 $ 10,458 $ 0.3000 January 1, 2016 through March 31, 2016 April 14, 2016 $ 10,458 $ 0.3000 April 1, 2016 through June 30, 2016 July 15, 2016 $ 10,458 $ 0.3000 July 1, 2016 through September 30, 2016 October 17, 2016 $ 10,458 $ 0.3000

FINANCIAL INSTRUMENTS

FINANCIAL INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
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 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 40 38 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 income. 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 income. Historically trade credit losses have been minimal. The Partnership has equity investments in marketable securities, including common stocks, exchange-traded-debt, foreign equities and preferred stocks. 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	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	4) FAIR VALUE MEASUREMENTS The Partnership adopted the amendments to Accounting Standards Codification (“ASC”) Topic 820, Fair Value Measurements and Disclosures The fair value hierarchy has the following levels: Level 1 Level 2 Level 3 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. September 30, 2016 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 11,341 $ - $ - $ 11,341 Short-term investments Common stocks 615 - - 615 Exchange-traded-debt securities 523 - - 523 Foreign equities 528 - - 528 Preferred stocks 3,353 - - 3,353 Total short-term investments 5,019 - - 5,019 Total assets at fair value $ 16,360 $ - $ - $ 16,360 Long-term incentive plan liability $ - $ 5 $ - $ 5 December 31, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 12,186 $ - $ - $ 12,186 Short-term investments Exchange-traded-debt securities 517 - - 517 Preferred stocks 3,340 - - 3,340 Total short-term investments $ 3,857 $ - $ - $ 3,857 Total assets at fair value $ 16,043 $ - $ - $ 16,043 Long-term incentive plan liability $ - $ 4 $ - $ 4 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 Short-Term Investments exchange-traded-debt securities, foreign equities and preferred stocks Long-Term Incentive Plan Liability –

ALLOWANCE FOR DOUBTFUL RECEIVAB

ALLOWANCE FOR DOUBTFUL RECEIVABLES	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Allowance For Doubtful Accounts Receivable Disclosure [Text Block]	5) ALLOWANCE FOR DOUBTFUL RECEIVABLES September 30, 2016 December 31, 2015 Allowance for doubtful receivables at January 1 $ 25 $ 8 Additions charged to expense 68 28 Subtractions included in income - (11) $ 93 $ 25

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment Disclosure [Text Block]	6) PROPERTY, PLANT AND EQUIPMENT September 30, 2016 Cost Accumulated Depreciation Net Book Value Land $ 32,564 $ - $ 32,564 Tanks and appenditures 255,188 148,842 106,346 Docks and jetties 17,943 7,904 10,039 Machinery and equipment 10,313 8,062 2,251 Buildings 2,710 992 1,718 Other 11,872 4,918 6,954 Assets under construction 10,583 - 10,583 $ 341,173 $ 170,718 $ 170,455 December 31, 2015 Cost Accumulated Depreciation Net Book Value Land $ 32,564 $ - $ 32,564 Tanks and appenditures 241,985 135,031 106,954 Docks and jetties 17,937 6,634 11,303 Machinery and equipment 10,081 7,026 3,055 Buildings 2,628 897 1,731 Other 11,153 4,117 7,036 Assets under construction 8,845 - 8,845 $ 325,193 $ 153,705 $ 171,488

TERMINAL ACQUISITIONS

TERMINAL ACQUISITIONS	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	7) TERMINAL ACQUISITIONS On September 14, 2015, the Partnership acquired a terminal facility in Salisbury, Maryland which has a total shell capacity of 177,000 965 On January 1, 2015, the Partnership acquired a terminal facility in Greensboro, North Carolina which has a total shell capacity of 684,000 1,550,000 31,186 Business Combinations 48 Contribution consideration Property, plant and equipment $ 25,304 Goodwill 182 Acquired customer contracts 5,700 Total consideration 31,186 Closing costs 48 Additive inventory 53 Total terminal cost $ 31,287

ACQUIRED CUSTOMER CONTRACTS

ACQUIRED CUSTOMER CONTRACTS	9 Months Ended
	Sep. 30, 2016
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 allocated $ 5,700 September 30, 2016 December 31, 2015 Cost $ 5,700 $ 5,700 Less accumulated amortization (1,995) (1,140) $ 3,705 $ 4,560

COMMITMENTS

COMMITMENTS	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments Disclosure [Text Block]	9) COMMITMENTS The Partnership leases land and other use rights at some of its facilities. These leases expire from March 31, 2017 through February 1, 2061. Three Months Ended Nine Months Ended 2016 2015 2016 2015 $ 249 $ 426 $ 795 $ 1,003 2016 $ 132 2017 577 2018 570 2019 479 2020 43 Thereafter 5 $ 1,806

DEBT

DEBT	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt Disclosure [Text Block]	DEBT On August 14, 2013, Center Point entered into a $ 200,000 20,000 20,000 100,000 Center Point incurred costs of $ 910 1,137 1,593 Three Months Ended Nine Months Ended 2016 2015 2016 2015 $ 154 $ 153 $ 457 $ 455

ASSET RETIREMENT OBLIGATIONS

ASSET RETIREMENT OBLIGATIONS	9 Months Ended
	Sep. 30, 2016
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 $ 686 658 10,135

SEGMENT REPORTING

SEGMENT REPORTING	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting Disclosure [Text Block]	12) SEGMENT REPORTING The Partnership derives revenues from operating its eighteen liquid bulk storage and terminal facilities. The eighteen 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	9 Months Ended
	Sep. 30, 2016
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 $ 62 $ 49 $ 183 $ 168

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2016
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 Nine Months 2016 2015 2016 2015 Current $ 19 $ 77 $ 111 $ 107 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 2012. As of September 30, 2016 and December 31, 2015, the Partnership did not have any unrecognized tax benefits recorded in the consolidated balance sheets.

RELATED PARTY TRANSACTIONS AND

RELATED PARTY TRANSACTIONS AND BALANCES	9 Months Ended
	Sep. 30, 2016
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 Nine Months 2016 2015 2016 2015 Operating costs $ 1,182 $ 1,143 $ 3,168 $ 2,529 Reimbursement for management and marketing services 624 654 1,810 1,545 $ 1,806 $ 1,797 $ 4,978 $ 4,074 For the Three Months For the Nine Months 2016 2015 2016 2015 Affiliate revenues $ 9,420 $ 8,723 $ 30,408 $ 27,846 September 30, December 31, Accounts receivable – affiliates $ 1,823 $ 810 Prepaid insurance – affiliates 222 110 Due to affiliates 416 1,431 Deferred revenue – short-term – affiliates 1,608 802 Deferred revenue – long-term – affiliates 4,289 2,071

DEFERRED REVENUE

DEFERRED REVENUE	9 Months Ended
	Sep. 30, 2016
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 - affiliate. The non-affiliate deferred revenue balance is related to storage service fees received in advance from terminal customers. September 30, December 31, Balance at January 1 $ 3,127 $ 1,762 Additions 4,115 2,001 Amortization (1,005) (636) Balance at period end $ 6,237 $ 3,127 Deferred revenue – short-term – affiliates $ 1,608 $ 802 Deferred revenue – long-term $ 340 $ 254 Deferred revenue – long-term - affiliates $ 4,289 $ 2,071

CONTINGENCIES

CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
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 2016 and 2015.

EQUITY-BASED COMPENSATION

EQUITY-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2016
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 25,000 The restricted units vest over three years subject to customary forfeiture provisions. Restricted units are included in the number of common units outstanding as presented on our unaudited Condensed Consolidated Balance Sheets and are entitled to cash distributions, which are nonforfeitable, on the same basis as the Common Units. Three Months Ended Nine Months Ended 2016 2015 2016 2015 $ 623 $ 635 $ 1,893 $ 1,905 The UARs vest over five years subject to customary forfeiture provisions, and are not included in the number of common units outstanding as presented on our unaudited condensed consolidated balance sheets or entitled to cash distributions. Non-cash compensation expense related to the UARs has been estimated using the Black-Scholes model. Because the UARs may be settled in units or cash at the option of the participant, they have been recorded utilizing the liability method. Non-cash compensation expense relating to the UARs was ($ 1 1 UARs Awarded Restricted Vested Fair Value at September 24, 2013 1 - 90,000 90,000 $ 20.21 April 23, 2014 2 - 250,000 - $ 23.20 July 6, 2015 3 25,000 - - $ 16.95 1 Units awarded to directors of General Partner and Parent 2 Units awarded to the chairman of General Partner 3 UARs awarded to an employee of the General Partner As of September 30, 2016, the Partnership had unrecognized compensation expense of $ 1,107

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	19) SUBSEQUENT EVENTS On October 17, 2016 the Board of Directors declared a cash distribution of $ 0.30 Upon payment of the distribution on November 14, 2016, the end of the subordination period will occur on our 16,485,007

EARNINGS PER UNIT AND CASH DI26

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Tables)	9 Months Ended
	Sep. 30, 2016
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 Nine Months Ended 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]	The calculation of earnings per unit is as follows: Three Months Ended Nine Months Ended Common Subordinated Total Common Subordinated Total Net income attributable to unitholders $ 4,637 $ 4,161 $ 8,798 $ 14,644 $ 13,138 $ 27,782 Less: Distributions payable on behalf of IDRs - - - - - - Distributions payable on behalf of general partner interest - - - - - - Net income attributable to unitholders $ 4,637 $ 4,161 $ 8,798 $ 14,644 $ 13,138 $ 27,782 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 $ 0.80 $ 0.80 1 As of September 30, 2016, Apex Oil Company, Inc. (“Apex”) owns 1,550,000 11,952,500
Schedule of Incentive Distributions Made to Managing Members or General Partners by Distribution [Table Text Block]	Our unitholders and the holders of our IDRs will receive distributions according to the following percentage allocations: Total Quarterly Marginal Percentage 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]	Distributions Period Date Amount Per Unit 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 July 1, 2015 through September 30, 2015 October 14, 2015 $ 10,458 $ 0.3000 October 1, 2015 through December 31, 2015 January 14, 2016 $ 10,458 $ 0.3000 January 1, 2016 through March 31, 2016 April 14, 2016 $ 10,458 $ 0.3000 April 1, 2016 through June 30, 2016 July 15, 2016 $ 10,458 $ 0.3000 July 1, 2016 through September 30, 2016 October 17, 2016 $ 10,458 $ 0.3000

FAIR VALUE MEASUREMENTS (Tables

FAIR VALUE MEASUREMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015: September 30, 2016 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 11,341 $ - $ - $ 11,341 Short-term investments Common stocks 615 - - 615 Exchange-traded-debt securities 523 - - 523 Foreign equities 528 - - 528 Preferred stocks 3,353 - - 3,353 Total short-term investments 5,019 - - 5,019 Total assets at fair value $ 16,360 $ - $ - $ 16,360 Long-term incentive plan liability $ - $ 5 $ - $ 5 December 31, 2015 Level 1 Level 2 Level 3 Total Cash and cash equivalents $ 12,186 $ - $ - $ 12,186 Short-term investments Exchange-traded-debt securities 517 - - 517 Preferred stocks 3,340 - - 3,340 Total short-term investments $ 3,857 $ - $ - $ 3,857 Total assets at fair value $ 16,043 $ - $ - $ 16,043 Long-term incentive plan liability $ - $ 4 $ - $ 4

ALLOWANCE FOR DOUBTFUL RECEIV28

ALLOWANCE FOR DOUBTFUL RECEIVABLES (Tables)	9 Months Ended
	Sep. 30, 2016
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 nine months ended September 30, 2016 and the year ended December 31, 2015: September 30, 2016 December 31, 2015 Allowance for doubtful receivables at January 1 $ 25 $ 8 Additions charged to expense 68 28 Subtractions included in income - (11) $ 93 $ 25

PROPERTY, PLANT AND EQUIPMENT (

PROPERTY, PLANT AND EQUIPMENT (Tables)	9 Months Ended
	Sep. 30, 2016
Property, Plant and Equipment [Abstract]
Property, Plant and Equipment [Table Text Block]	Property, plant, and equipment consisted of the following as of September 30, 2016 and December 31, 2015: September 30, 2016 Cost Accumulated Depreciation Net Book Value Land $ 32,564 $ - $ 32,564 Tanks and appenditures 255,188 148,842 106,346 Docks and jetties 17,943 7,904 10,039 Machinery and equipment 10,313 8,062 2,251 Buildings 2,710 992 1,718 Other 11,872 4,918 6,954 Assets under construction 10,583 - 10,583 $ 341,173 $ 170,718 $ 170,455 December 31, 2015 Cost Accumulated Depreciation Net Book Value Land $ 32,564 $ - $ 32,564 Tanks and appenditures 241,985 135,031 106,954 Docks and jetties 17,937 6,634 11,303 Machinery and equipment 10,081 7,026 3,055 Buildings 2,628 897 1,731 Other 11,153 4,117 7,036 Assets under construction 8,845 - 8,845 $ 325,193 $ 153,705 $ 171,488

TERMINAL ACQUISITIONS (Tables)

TERMINAL ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition [Table Text Block]	The Partnership has allocated the contribution consideration to the assets acquired as follows: Contribution consideration Property, plant and equipment $ 25,304 Goodwill 182 Acquired customer contracts 5,700 Total consideration 31,186 Closing costs 48 Additive inventory 53 Total terminal cost $ 31,287

ACQUIRED CUSTOMER CONTRACTS (Ta

ACQUIRED CUSTOMER CONTRACTS (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Acquired Finite-Lived Intangible Assets by Major Class [Table Text Block]	Acquired customer contracts consisted of the following at September 30, 2016 and December 31, 2015: September 30, 2016 December 31, 2015 Cost $ 5,700 $ 5,700 Less accumulated amortization (1,995) (1,140) $ 3,705 $ 4,560

COMMITMENTS (Tables)

COMMITMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Rent Expense [Table Text Block]	Lease expense for the periods indicated were: Three Months Ended Nine Months Ended 2016 2015 2016 2015 $ 249 $ 426 $ 795 $ 1,003
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 2016 and for the years ending December 31 thereafter are as follows: 2016 $ 132 2017 577 2018 570 2019 479 2020 43 Thereafter 5 $ 1,806

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Interest Income and Interest Expense Disclosure [Table Text Block]	Center Point incurred commitment fees, which have been recorded as interest expense, for the periods indicated as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 $ 154 $ 153 $ 457 $ 455

EMPLOYEE BENEFIT PLANS (Tables)

EMPLOYEE BENEFIT PLANS (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 $ 62 $ 49 $ 183 $ 168

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2016
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 Nine Months 2016 2015 2016 2015 Current $ 19 $ 77 $ 111 $ 107

RELATED PARTY TRANSACTIONS AN36

RELATED PARTY TRANSACTIONS AND BALANCES (Tables)	9 Months Ended
	Sep. 30, 2016
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 Nine Months 2016 2015 2016 2015 Operating costs $ 1,182 $ 1,143 $ 3,168 $ 2,529 Reimbursement for management and marketing services 624 654 1,810 1,545 $ 1,806 $ 1,797 $ 4,978 $ 4,074
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 Nine Months 2016 2015 2016 2015 Affiliate revenues $ 9,420 $ 8,723 $ 30,408 $ 27,846
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: September 30, December 31, Accounts receivable – affiliates $ 1,823 $ 810 Prepaid insurance – affiliates 222 110 Due to affiliates 416 1,431 Deferred revenue – short-term – affiliates 1,608 802 Deferred revenue – long-term – affiliates 4,289 2,071

DEFERRED REVENUE (Tables)

DEFERRED REVENUE (Tables)	9 Months Ended
	Sep. 30, 2016
Deferred Revenue Disclosure [Abstract]
Deferred Revenue, by Arrangement, Disclosure [Table Text Block]	The following table summarizes the Partnership’s deferred revenue activity: September 30, December 31, Balance at January 1 $ 3,127 $ 1,762 Additions 4,115 2,001 Amortization (1,005) (636) Balance at period end $ 6,237 $ 3,127 Deferred revenue – short-term – affiliates $ 1,608 $ 802 Deferred revenue – long-term $ 340 $ 254 Deferred revenue – long-term - affiliates $ 4,289 $ 2,071

EQUITY-BASED COMPENSATION (Tabl

EQUITY-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Schedule of Compensation Cost for Share-based Payment Arrangements, Allocation of Share-based Compensation Costs by Plan [Table Text Block]	The Partnership recorded non-cash compensation expense related to the restricted units as follows: Three Months Ended Nine Months Ended 2016 2015 2016 2015 $ 623 $ 635 $ 1,893 $ 1,905
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 September 30, 2016. There were no forfeitures through September 30, 2016. UARs Awarded Restricted Vested Fair Value at September 24, 2013 1 - 90,000 90,000 $ 20.21 April 23, 2014 2 - 250,000 - $ 23.20 July 6, 2015 3 25,000 - - $ 16.95 1 Units awarded to directors of General Partner and Parent 2 Units awarded to the chairman of General Partner 3 UARs awarded to an employee of the General Partner

EARNINGS PER UNIT AND CASH DI39

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details) - shares	3 Months Ended	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Number of Shares Outstanding, Basic		11,952,500
Common Units [Member]
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Number of Shares Outstanding, Basic	18,375,507	18,375,507
Subordinated Units [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 DI40

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details 1) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Earning Per Share and Cash Distributions [Line Items]
Net income attributable to unitholders		$ 8,798	$ 6,987	$ 27,782	$ 25,060
Distributions payable on behalf of IDRs		0		0
Distributions payable on behalf of general partner interest		0		0
Net income attributable to unitholders		8,798		27,782
Common Stock [Member]
Earning Per Share and Cash Distributions [Line Items]
Net income attributable to unitholders		4,637		14,644
Distributions payable on behalf of IDRs		0		0
Distributions payable on behalf of general partner interest		0		0
Net income attributable to unitholders		$ 4,637		$ 14,644
Weighted average limited partner units outstanding:		6,423,007		6,423,007
Earnings per unit		$ 0.25		$ 0.8
Subordinated Units [Member]
Earning Per Share and Cash Distributions [Line Items]
Net income attributable to unitholders		$ 4,161		$ 13,138
Distributions payable on behalf of IDRs		0		0
Distributions payable on behalf of general partner interest		0		0
Net income attributable to unitholders		$ 4,161		$ 13,138
Weighted average limited partner units outstanding:		16,485,507		16,485,507
Earnings per unit		$ 0.25		$ 0.8
IPO [Member] | Common Stock [Member]
Earning Per Share and Cash Distributions [Line Items]
Weighted average limited partner units outstanding:	[1]	11,952,500		11,952,500
[1]	As of September 30, 2016, Apex Oil Company, Inc. (“Apex”) owns 1,550,000 of the total 11,952,500 common units – public.

EARNINGS PER UNIT AND CASH DI41

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details 2)	9 Months Ended
	Sep. 30, 2016
Minimum Quarterly Distribution [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	0.30
Marginal Percentage Interest In Distributions To Unitholders	100.00%
Marginal Percentage Interest In Distributions 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 Distributions To Unitholders	100.00%
Marginal Percentage Interest In Distributions 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 Distributions To Unitholders	85.00%
Marginal Percentage Interest In Distributions 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 Distributions To Unitholders	75.00%
Marginal Percentage Interest In Distributions To Holders Of IDRs	25.00%
Thereafter [Member]
Earning Per Share and Cash Distributions [Line Items]
Total Quarterly Distribution Target Amount Description	$0.450
Marginal Percentage Interest In Distributions To Unitholders	50.00%
Marginal Percentage Interest In Distributions To Holders Of IDRs	50.00%

EARNINGS PER UNIT AND CASH DI42

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details 3) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Earning Per Share and Cash Distributions [Line Items]
Distribution Made to Limited Partner, Declaration Date	Oct. 17, 2016	Jul. 15, 2016	Apr. 14, 2016	Jan. 14, 2016	Oct. 14, 2015	Jul. 16, 2015	Apr. 21, 2015
Distribution Made to Limited Partner, Cash Distributions Declared	$ 10,458	$ 10,458	$ 10,458	$ 10,458	$ 10,458	$ 10,458	$ 10,458
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000

EARNINGS PER UNIT AND CASH DI43

EARNINGS PER UNIT AND CASH DISTRIBUTIONS (Details Textual) - $ / shares	3 Months Ended							9 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016
Earning Per Share and Cash Distributions [Line Items]
Weighted Average Number of Shares Outstanding, Basic								11,952,500
Distribution Made to Limited Partner, Distributions Declared, Per Unit	$ 0.3000	$ 0.3000	$ 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 Number of Shares Outstanding, Basic								1,550,000

FINANCIAL INSTRUMENTS (Details

FINANCIAL INSTRUMENTS (Details Textual) - Sales Revenue, Net [Member]	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Customer One [Member]
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items]
Concentration Risk, Percentage	40.00%	38.00%
Third-party customer [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	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	$ 5,019	$ 3,857
Total assets at fair value	16,360	16,043
Long-term incentive plan liability	5	4
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	5,019	3,857
Total assets at fair value	16,360	16,043
Long-term incentive plan liability	0	0
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
Total assets at fair value	0	0
Long-term incentive plan liability	5	4
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
Total assets at fair value	0	0
Long-term incentive plan liability	0	0
Exchange traded debt securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	523	517
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	523	517
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
Common stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	615
Common 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	615
Common 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
Common 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
Preferred stocks [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	3,353	3,340
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	3,353	3,340
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
Foreign Equities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	528
Foreign Equities [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total short-term investments	528
Foreign Equities [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
Foreign Equities [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
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	11,341	12,186
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	11,341	12,186
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 RECEIV46

ALLOWANCE FOR DOUBTFUL RECEIVABLES (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Allowance For Doubtful Receivables [Line Items]
Allowance for doubtful receivables at January 1	$ 25	$ 8
Additions charged to expense	68	28
Subtractions included in income	0	(11)
Allowance for doubtful receivable ending value	$ 93	$ 25

PROPERTY, PLANT AND EQUIPMENT47

PROPERTY, PLANT AND EQUIPMENT (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Property, Plant and Equipment [Line Items]
Cost	$ 341,173	$ 325,193
Accumulated Depreciation	170,718	153,705
Net Book Value	170,455	171,488
Land [Member]
Property, Plant and Equipment [Line Items]
Cost	32,564	32,564
Accumulated Depreciation	0	0
Net Book Value	32,564	32,564
Tanks and appenditures [Member]
Property, Plant and Equipment [Line Items]
Cost	255,188	241,985
Accumulated Depreciation	148,842	135,031
Net Book Value	106,346	106,954
Docks and jetties [Member]
Property, Plant and Equipment [Line Items]
Cost	17,943	17,937
Accumulated Depreciation	7,904	6,634
Net Book Value	10,039	11,303
Machinery and equipment [Member]
Property, Plant and Equipment [Line Items]
Cost	10,313	10,081
Accumulated Depreciation	8,062	7,026
Net Book Value	2,251	3,055
Buildings [Member]
Property, Plant and Equipment [Line Items]
Cost	2,710	2,628
Accumulated Depreciation	992	897
Net Book Value	1,718	1,731
Other [Member]
Property, Plant and Equipment [Line Items]
Cost	11,872	11,153
Accumulated Depreciation	4,918	4,117
Net Book Value	6,954	7,036
Assets under construction [Member]
Property, Plant and Equipment [Line Items]
Cost	10,583	8,845
Accumulated Depreciation	0	0
Net Book Value	$ 10,583	$ 8,845

TERMINAL ACQUISITIONS (Details)

TERMINAL ACQUISITIONS (Details) $ in Thousands	Sep. 30, 2016USD ($)
Contribution consideration
Property, plant and equipment	$ 25,304
Goodwill	182
Acquired customer contracts	5,700
Total consideration	31,186
Closing costs	48
Additive inventory	53
Total terminal cost	$ 31,287

TERMINAL ACQUISITIONS (Details

TERMINAL ACQUISITIONS (Details Textual) $ in Thousands	12 Months Ended
	Dec. 31, 2015sharesbbl	Dec. 31, 2014USD ($)	Sep. 30, 2016USD ($)	Sep. 14, 2015USD ($)bbl
Business Acquisition [Line Items]
Business Acquisition, Transaction Costs			$ 48
Maryland [Member]
Business Acquisition [Line Items]
Total Storage capacity of terminals (In Actuals) | bbl				177,000
Property, Plant, and Equipment, Fair Value Disclosure				$ 965
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	Sep. 30, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	$ 5,700	$ 5,700
Less accumulated amortization	(1,995)	(1,140)
Acquired customer contracts, Total	$ 3,705	$ 4,560

ACQUIRED CUSTOMER CONTRACTS (51

ACQUIRED CUSTOMER CONTRACTS (Details Textual) $ in Thousands	Sep. 30, 2016USD ($)
Acquired Finite-Lived Intangible Assets [Line Items]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Finite-Lived Intangibles	$ 5,700

COMMITMENTS (Details)

COMMITMENTS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Commitments [Line Items]
Operating Leases, Rent Expense	$ 249	$ 426	$ 795	$ 1,003

COMMITMENTS (Details 1)

COMMITMENTS (Details 1) $ in Thousands	Sep. 30, 2016USD ($)
Commitments [Line Items]
2,016	$ 132
2,017	577
2,018	570
2,019	479
2,020	43
Thereafter	5
Operating Leases, Future Minimum Payments Due, Total	$ 1,806

COMMITMENTS (Details Textual)

COMMITMENTS (Details Textual)	9 Months Ended
	Sep. 30, 2016
Commitments [Line Items]
Lease Expiration Term	expire from March 31, 2017 through February 1, 2061.

DEBT (Details)

DEBT (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Line of Credit Facility, Periodic Payment, Interest	$ 154	$ 153	$ 457	$ 455

DEBT (Details Textual)

DEBT (Details Textual) - USD ($) $ in Thousands	Aug. 14, 2013	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Debt Instrument, Future Estimated Minimum Loan Commitment Fees		$ 1,137	$ 1,593
Swing Line Loans [Member]
Debt Instrument [Line Items]
Letters of Credit Outstanding, Amount	$ 20,000
Bank of Tokyo-Mitsubishi UFJ, Ltd [Member]
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
Line Of Credit Facility Increase In Commitment Maximum Limit	$ 100,000

ASSET RETIREMENT OBLIGATIONS (D

ASSET RETIREMENT OBLIGATIONS (Details Textual) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Asset Retirement Obligations [Line Items]
Asset Retirement Obligations, Noncurrent	$ 686	$ 658
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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Defined Benefit Plan Disclosure [Line Items]
Defined Contribution Plan, Cost Recognized	$ 62	$ 49	$ 183	$ 168

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Line Items]
Current	$ 19	$ 77	$ 111	$ 107

RELATED PARTY TRANSACTIONS AN60

RELATED PARTY TRANSACTIONS AND BALANCES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transaction [Line Items]
Operating costs	$ 1,182	$ 1,143	$ 3,168	$ 2,529
Reimbursement for management and marketing services	624	654	1,810	1,545
Total Charges For Related Party Services	$ 1,806	$ 1,797	$ 4,978	$ 4,074

RELATED PARTY TRANSACTIONS AN61

RELATED PARTY TRANSACTIONS AND BALANCES (Details 1) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Related Party Transaction [Line Items]
Affiliate revenues	$ 9,420	$ 8,723	$ 30,408	$ 27,846

RELATED PARTY TRANSACTIONS AN62

RELATED PARTY TRANSACTIONS AND BALANCES (Details 2) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Accounts receivable - affiliates	$ 1,823	$ 810
Prepaid insurance - affiliates	222	110
Due to affiliates	416	1,431
Deferred revenue - short-term - affiliates	1,608	802
Deferred revenue - long-term - affiliates	$ 4,289	$ 2,071

DEFERRED REVENUE (Details)

DEFERRED REVENUE (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Deferred Revenue [Line Items]
Balance at January 1	$ 3,127	$ 1,762
Additions	4,115	2,001
Amortization	(1,005)	(636)
Balance at period end	6,237	3,127
Deferred revenue - short-term - affiliates	1,608	802
Deferred revenue - long-term	340	254
Deferred revenue - long-term - affiliates	$ 4,289	$ 2,071

EQUITY-BASED COMPENSATION (Deta

EQUITY-BASED COMPENSATION (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Restricted Stock Units (RSUs) [Member]
Equity Based Compensation Non Cash Compensaion Expense [Line Items]
Non-cash compensation expense	$ 623	$ 635	$ 1,893	$ 1,905

EQUITY-BASED COMPENSATION (De65

EQUITY-BASED COMPENSATION (Details 1)	9 Months Ended
	Sep. 30, 2016$ / sharesshares
September 24, 2013 [Memeber]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
UARs Awarded	0	[1]
Restricted Units Awarded	90,000	[1]
Vested Units	90,000	[1]
Fair Value at Award Date | $ / shares	$ 20.21	[1]
April 23, 2014 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
UARs Awarded	0	[2]
Restricted Units Awarded	250,000	[2]
Vested Units	0	[2]
Fair Value at Award Date | $ / shares	$ 23.2	[2]
July 6, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
UARs Awarded	25,000	[3]
Restricted Units Awarded	0	[3]
Vested Units	0	[3]
Fair Value at Award Date | $ / shares	$ 16.95	[3]
[1]	Units awarded to directors of General Partner and Parent
[2]	Units awarded to the chairman of General Partner
[3]	UARs awarded to an employee of the General Partner

EQUITY-BASED COMPENSATION (De66

EQUITY-BASED COMPENSATION (Details Textual) - USD ($) $ in Thousands		3 Months Ended	9 Months Ended
		Sep. 30, 2016	Sep. 30, 2016	Dec. 31, 2013
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		$ 1,107	$ 1,107
July 6, 2015 [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unit Appreciation Rights Awarded	[1]		25,000
unit appreciation rights [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock or Unit Option Plan Expense		$ 1	$ 1
[1]	UARs awarded to an employee of the General Partner

SUBSEQUENT EVENTS (Details Text

SUBSEQUENT EVENTS (Details Textual) - $ / shares	Nov. 14, 2016	Oct. 17, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Subsequent Event [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit			$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000	$ 0.3000
Subsequent Event [Member] | Subordinated Debt [Member]
Subsequent Event [Line Items]
Weighted Average Limited Partnership Units Outstanding, Basic	16,485,007
Subsequent Event [Member] | Board of Directors [Member]
Subsequent Event [Line Items]
Distribution Made to Limited Partner, Distributions Declared, Per Unit		$ 0.30