On 30 April 2026, Baltic Exchange Information Services Limited (“the Baltic”) received a claim from Mercuria Energy Trading S.A., alleging that the Baltic has not met its statutory and contractual obligations in producing what is known as the TD3C benchmark, in the context of the ongoing events in the Gulf.  These allegations are denied.

The Baltic produces its benchmarks in accordance with established and robust governance frameworks, methodologies and oversight processes.  The Baltic is confident that it has met, and continues to meet, all its statutory, contractual and regulatory obligations in the production of the TD3C benchmark.

While we await the full details of the claim, Mercuria is seeking declaratory relief from the English High Court to compel the Baltic to deviate from these processes.  The Baltic has full confidence in its processes, believes the claim from Mercuria to be without merit, and will defend it to the fullest extent.