Annual report pursuant to Section 13 and 15(d)

TRADE RECEIVABLES

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TRADE RECEIVABLES
 12 Months Ended
Dec. 31, 2017
TRADE RECEIVABLES [Abstract]  
TRADE RECEIVABLES
NOTE 6 – TRADE RECEIVABLES

Trade receivables, net, at December 31, 2017, and 2016, respectively, consisted of the following:
 
   
2017
    
2016
  
   
(thousands of dollars)
  
             
Trade receivables
  
$
26,079
    
$
22,493
  
Less allowance for doubtful accounts
    
(300
)
    
(300
)
                 
  Trade receivables, net
  
$
25,779
    
$
22,193
  

Trade receivables serves as collateral for our amended and restated loan agreement with a domestic bank (see Note 13).