The U.S. Justice Department announces criminal charges against four major Chinese shipping container manufacturers and their senior executives, alleging they helped operate a price-fixing and supply-restriction cartel during the Covid-19 pandemic. According to the DOJ, the companies—China International Marine Containers, Singamas Container Holdings, Shanghai Universal Logistics Equipment, and CXIC Group Containers—colluded to raise prices and restrict container output. Bloomberg and CNBC both report that the case targets container makers and top executives, while the South China Morning Post adds that seven Chinese executives are charged alongside four firms.
The DOJ alleges the alleged scheme aimed to limit supply and fix or influence prices for standard dry containers between November 2019 and January 2024. The South China Morning Post reports that the manufacturers collectively produce about 95% of the world’s standard dry shipping containers. The outlets describe the charges as part of the U.S. antitrust enforcement effort. The companies and individuals are accused but not stated to have admitted wrongdoing in the reporting summarized here.
