U.S. Indicts Four Chinese Shipping Container Firms for Alleged Pandemic-Era Price-Fixing
The U.S. Justice Department has indicted four major Chinese shipping container manufacturers—CIMC, Singamas Container Holdings, Shanghai Universal Logistics Equipment, and CXIC Group Containers—for allegedly colluding to restrict output and raise prices during the pandemic era from November 2019 to early 2024. The indictment claims this conspiracy nearly doubled standard container prices between 2019 and 2021, significantly boosting profits for these companies.
Topics: container_prices Covid-19_impact international_relations shipping