TRADE RECEIVABLES

12 Months Ended

Dec. 31, 2012

TRADE RECEIVABLES [Abstract]

TRADE RECEIVABLES

NOTE 7 – TRADE RECEIVABLES

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

	2012			2011
	(thousands of dollars)
Trade receivables	$	16,012		$	23,408
Less allowance for doubtful accounts		(210	)		(210	)
Trade receivables, net	$	15,802		$	23,198

Trade receivables serving as collateral for the Company's line of credit with a domestic bank was $11.7 million and $16.8 million at December 31, 2012, and 2011, respectively (see Note 12).