TRADE RECEIVABLES

3 Months Ended

Mar. 31, 2012

TRADE RECEIVABLES [Abstract]

TRADE RECEIVABLES

3. TRADE RECEIVABLES

Trade receivables, net, at March 31, 2012, and December 31, 2011, consisted of the following:

	March 31, 2012			December 31, 2011
	(thousands of dollars)
Trade receivables	$	23,277		$	23,408
Less allowance for doubtful accounts		(210	)		(210	)
Trade receivables, net	$	23,067		$	23,198

Trade receivables serving as collateral for the Company's line of credit with a domestic bank were $15.6 million and $16.8 million at March 31, 2012, and December 31, 2011, respectively (see Note 7).