Accounts and notes payable

6 Months Ended

Jun. 30, 2015

Accounts and Notes Payable Disclosure [Abstract]

Accounts and Notes Payable Disclosure [Text Block]

15.

Accounts and notes payable

The Company’s accounts and notes payable as of June 30, 2015 and December 31, 2014 are summarized as follows (figures are in thousands of USD):

	June 30, 2015		December 31, 2014
Accounts payable - unrelated parties	$	137,211	$	132,389
Notes payable - unrelated parties ⁽¹⁾		72,566		80,701
Total accounts and notes payable - unrelated parties		209,777		213,090
Total accounts and notes payable - related parties		5,198		4,857
Total accounts and notes payable	$	214,975	$	217,947

(1)

Notes payable represent accounts payable in the form of bills of exchange whose acceptances are guaranteed and settlements are handled by banks. The Company has pledged cash deposits, notes receivable and certain property, plant and equipment to secure notes payable granted by banks.