The United States Department of Justice has indicted seven Chinese executives and four major shipping container manufacturing companies over an alleged global conspiracy to restrict output and fix prices of standard dry shipping containers.
According to prosecutors, the scheme, which allegedly ran from 2019 to early 2024, violated Section 1 of the Sherman Antitrust Act and significantly disrupted global supply chains during the COVID-19 pandemic.
Authorities said the alleged cartel artificially limited the production of standard unrefrigerated shipping containers, causing prices to nearly double between 2019 and 2021.
The move reportedly led to a dramatic surge in profits for the companies involved, with some recording increases of nearly one hundredfold during the period.
One of the defendants, Vick Nam Hing Ma, a marketing director at Singamas Container Holdings Ltd., was arrested in France in April 2026. His extradition to the United States is currently pending, while six other executives remain at large.
The indictment also names major industry players including China International Marine Containers (CIMC), Shanghai Universal Logistics Equipment Co. Ltd. (Dong Fang), and CXIC Group Containers Co. Ltd..
Prosecutors allege that executives from the companies met in Shenzhen in November 2019 to coordinate the scheme, agreeing to limit production capacity through measures such as reducing factory shifts, installing surveillance systems to monitor compliance, and halting expansion of manufacturing facilities.
The conspirators also allegedly set production quotas for customers and imposed penalties for any company that exceeded agreed limits. By 2022, the group had introduced caps on total cargo volume output.
US officials say the arrangement affected major global customers, including shipping lines, logistics firms and container leasing companies, ultimately driving up costs for consumers worldwide.
Officials from the Justice Department and partner agencies described the case as a major step in tackling global price-fixing cartels, warning that those involved would be held accountable regardless of location.
If convicted, the defendants face up to 10 years in prison and significant financial penalties under US antitrust laws.
Authorities emphasised that the charges remain allegations, and all defendants are presumed innocent until proven guilty in court.
