WASHINGTON DC: The U.S. Department of Justice (DOJ) has indicted seven Chinese executives and four of the world’s largest shipping container manufacturers for allegedly conspiring to restrict output and fix prices of standard shipping containers during the COVID-19 pandemic and global supply chain crisis.
According to the DOJ, the alleged scheme operated from at least November 2019 to January 2024 and involved nearly all of the world’s standard dry containers. Authorities said the conspiracy nearly doubled container prices between 2019 and 2021, significantly boosting company profits.
One of the executives, Vick Nam Hing Ma, also known as Vick Ma, was arrested in France on April 14, 2026, and is awaiting extradition to the U.S. The remaining six executives—Siong Seng Teo, Boliang Mai, Tianhua Huang, Yongbo Wan, Qianmin Li, and Yuqiang Zhang—remain at large.
The companies named in the indictment include Singamas Container Holdings Ltd., China International Marine Containers (CIMC), Shanghai Universal Logistics Equipment Co. Ltd. (operating under the Dong Fang brand), and CXIC Group Containers Co. Ltd. U.S. authorities alleged that these companies coordinated to limit production capacity and manipulate container prices during a period of high global demand.
According to the DOJ, executives met in Shenzhen in November 2019 and agreed to measures such as reducing production shifts, restricting operating hours, halting new facility construction, and installing surveillance to enforce compliance. Later, they allegedly imposed limits on containers produced for major customers, including U.S.-based shipping lines, logistics firms, and container leasing companies.
The DOJ said the scheme led to dramatic profit increases. CIMC’s container manufacturing profits reportedly rose from about USD 19.8 million in 2019 to USD 1.75 billion in 2021, while Singamas shifted from losses in 2019 to significant profits by 2021. The investigation involved the FBI, the U.S. Postal Service Office of Inspector General, and the U.S. General Services Administration Office of Inspector General.
The defendants face charges under Section 1 of the Sherman Antitrust Act, carrying a maximum penalty of 10 years in prison and fines of up to USD 1 million for individuals and USD 100 million for corporations. Associate Attorney General Stanley Woodward said, “Cheaters never prosper… this Department is ensuring accountability when American pocketbooks are pilfered.” (ANI)
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