Annual report pursuant to section 13 and 15(d)

TRADE RECEIVABLES

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TRADE RECEIVABLES
 12 Months Ended
Dec. 31, 2012
TRADE RECEIVABLES [Abstract]  
TRADE RECEIVABLES

NOTE 6 – 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 11).