Quarterly report pursuant to sections 13 or 15(d)

FAIR VALUE MEASUREMENTS (Tables)

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FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended
Mar. 31, 2014
FAIR VALUE MEASUREMENTS [Abstract]  
Fair Value of Assets and Liabilities Measured on a Recurring Basis
The following items are measured at fair value on a recurring basis subject to disclosure requirements of ASC Topic 820 at March 31, 2014, and December 31, 2013:

Liabilities Measured at Fair Value on a Recurring Basis

         
Fair Value Measurements Using
 
   
March 31, 2014
   
Level 1
   
Level 2
   
Level 3
 
   
(thousands of dollars)
 
Liabilities:
                       
Interest rate swap
  $ 495       -     $ 495       -  

         
Fair Value Measurements Using
 
   
December 31, 2013
   
Level 1
   
Level 2
   
Level 3
 
   
(thousands of dollars)
 
Liabilities:
                       
Interest Rate Swap
  $ 563     $ -     $ 563     $ -  
Commodity financial instruments
    48       48