$100 Million Tanker Dispute Raises Stakes in Mercuria’s Baltic Exchange Lawsuit

gCaptain · Bloomberg · 2026-11-04 17:55 UTC

As lawyers for Mercuria Energy Group presented the commodity giant’s case against the Baltic Exchange this week, a group of smartly dressed Norwegian businessmen listened intently to the arguments from the back of a packed London courtroom.

By Archie Hunter and Alex Longley

(Bloomberg) — As lawyers for Mercuria Energy Group presented the commodity giant’s case against the Baltic Exchange this week, a group of smartly dressed Norwegian businessmen listened intently to the arguments from the back of a packed London courtroom.

The executives, representing Oslo-listed Hunter Group ASA, have around $100 million riding on the outcome. The company is in a dispute with Mercuria over a charter deal linked to the TD3C index — the global benchmark oil tanker rate that the trading house claims the Baltic Exchange should have suspended because of disruptions caused by the Iran war.

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