Mercuria Sues Baltic Exchange Over Oil Shipping Benchmark

businesslawenergy-markets 2 posts · 1 accounts

Mercuria Energy Group Ltd. has sued the Baltic Exchange over an alleged distortion of a key benchmark used to price the cost of shipping oil from the Middle East. The commodity trader filed the claim in London’s High Court against Baltic Exchange Information Services Ltd., a unit of the exchange that oversees its benchmarks.

The case concerns the calculation of TD3C, the rate to ship oil from the Middle East to China. Mercuria says the alleged distortion has cost it hundreds of millions of dollars.

From the sources (2 posts)

@staunovo

RT @OilCfd: BOOM- Mercuria Sues Baltic Exchange Over Hormuz-Hit Shipping Benchmark - Now go after Platts

@staunovo

Mercuria Energy Group Ltd. is suing the Baltic Exchange over the alleged distortion of a key benchmark for the cost of shipping oil from the Middle East. The commodity trading house has filed a claim in London’s High Court against Baltic E

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