Mercuria’s challenge to Baltic Exchange tanker benchmark goes to trial in London

Mercuria’s challenge to the Baltic Exchange’s TD3C rate reached a London trial on Oct. 26, Bloomberg reports. The Financial Times says the trader wants the benchmark suspended and its publications since early March invalidated, arguing that war disrupted shipping through Hormuz. Bloomberg also reports Mercuria’s allegation that fear of a rival kept the rate running. The Baltic denies breaching its duties.