Singapore, 4 May 2026 – A Singapore Exchange-owned unit has denied allegations from Swiss commodities trader Mercuria Energy Group over the way a key Middle East oil shipping benchmark was produced during severe disruption in the Strait of Hormuz, placing global freight pricing, benchmark governance and energy-market risk under fresh scrutiny.
The dispute centres on Baltic Exchange Information Services, part of the Baltic Exchange, which is owned by Singapore Exchange. Mercuria has alleged that the tanker pricing data used for a benchmark tracking crude oil shipments from the Middle East to China failed to properly reflect the effective closure of the Strait of Hormuz, causing losses it estimates in the hundreds of millions of US dollars.
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