Quarterly report pursuant to sections 13 or 15(d)

TRADE RECEIVABLES

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TRADE RECEIVABLES
9 Months Ended
Sep. 30, 2012
TRADE RECEIVABLES [Abstract]  
TRADE RECEIVABLES
3.
TRADE RECEIVABLES

Trade receivables, net, at September 30, 2012, and December 31, 2011, consisted of the following:

   
September 30, 2012
   
December 31, 2011
 
   
(thousands of dollars)
 
Trade receivables
  $ 21,974     $ 23,408  
Less allowance for doubtful accounts
    (210 )     (210 )
Trade receivables, net
  $ 21,764     $ 23,198  

Trade receivables serving as collateral for the Company's line of credit with a domestic bank were $15.9 million and $16.8 million at September 30, 2012, and December 31, 2011, respectively (see Note 7).