Baltic Exchange blames Mercuria lawsuit for muddying shipping markets

David Wolfson, a lawyer representing Mercuria, said the trader was not the only market participant with concerns, citing a Financial Times report on Friday saying that TotalEnergies is also considering suing the Baltic Exchange.

Mercuria said in documents filed last month that, while its alleged losses had not yet been quantified, they were, "presently estimated to be in the hundreds of millions of US dollars".

The Baltic Exchange's lawyer McClelland said, however, that the exchange's liability to its users was limited to their subscription or membership fee or £5,000 ($6,710).