The U.S. Department of Justice has indicted seven Chinese-based executives and four of the world’s largest shipping container manufacturers in a sweeping antitrust case alleging a global conspiracy to restrict production and inflate prices during the COVID-19 pandemic.
Federal prosecutors allege the companies coordinated output restrictions and price-fixing schemes involving standard dry shipping containers between at least November 2019 and January 2024, causing prices for the containers to roughly double during the height of the global supply chain crisis.
One executive, Vick Nam Hing Ma, was arrested in France on April 14, 2026, and is awaiting extradition to the United States. Six other executive defendants remain at large.
The superseding indictment, unsealed in the Northern District of California, charges executives and companies associated with four major manufacturers: Singamas Container Holdings Ltd., China International Marine Containers Group Co., Ltd., Shanghai Universal Logistics Equipment Co., Ltd., and CXIC Group Containers Co. Ltd..
According to prosecutors, executives from the companies met in Shenzhen, China, in November 2019 and agreed to limit production capacity in order to raise container prices globally. The alleged conspiracy included restricting factory operating hours, limiting production shifts, refusing to build new factories, and installing surveillance cameras on production lines to monitor compliance with agreed production caps.
Authorities said the companies later refined the arrangement by imposing production quotas for major international customers, including U.S.-based shipping lines, logistics firms, and container leasing companies.
Federal prosecutors allege the conspiracy generated massive profits for the manufacturers during the pandemic-driven shipping crisis. According to the indictment, CIMC’s container manufacturing profits rose from approximately $19.8 million in 2019 to roughly $1.75 billion by 2021. Singamas reportedly went from a $110 million loss in 2019 to nearly $187 million in profit by 2021.
Associate Attorney General Stanley Woodward said the case reflects the Justice Department’s effort to target global market manipulation that harmed American consumers during the pandemic.
Acting Assistant Attorney General Omeed A. Assefi said the alleged cartel “held hostage the world’s supply of ocean shipping containers during the Covid pandemic when our supply chains needed it the most.”
Federal officials said the alleged conspiracy increased costs for American consumers by contributing to higher prices and delays for goods shipped internationally during the pandemic-era supply chain disruptions.
The case was investigated by the Federal Bureau of Investigation, United States Postal Service Office of Inspector General, and United States General Services Administration Office of Inspector General, alongside the Justice Department’s Antitrust Division.
The defendants are charged under Section 1 of the Sherman Antitrust Act, which carries maximum penalties of 10 years in prison and $1 million in fines for individuals, and up to $100 million in fines for corporations. Prosecutors noted that penalties could increase depending on the financial gains tied to the alleged scheme.
An indictment is an allegation, and all defendants are presumed innocent unless proven guilty in court.
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