U.S. Charges Container Makers With Price Fixing, Output Limits

Federal prosecutors have charged four of the world’s largest shipping container manufacturers and seven of their executives with orchestrating a multi-year conspiracy to restrict production and fix prices. The alleged scheme operated from November 2019 through January 2024, intensifying during the COVID-19 pandemic’s severe global supply chain disruptions.

The companies named in the indictment are China International Marine Containers Group Co., Ltd. (CIMC), Singamas Container Holdings Ltd., Shanghai Universal Logistics Equipment Co., Ltd. (also known as Dong Fang International Containers), and CXIC Group Containers Co. Ltd. According to the U.S. Department of Justice, these firms collectively controlled approximately 95 percent of the world’s standard dry shipping container production.

Prosecutors allege that executives from the competing companies met in Shenzhen, China, in November 2019 and agreed to coordinate production cuts to increase container prices globally. The Justice Department claims the conspiracy involved limiting factory shifts and operating hours, agreeing not to build new manufacturing facilities, and creating a financial penalty system for companies that...