The U.S. Department of Justice has indicted four of the world’s largest shipping container manufacturers and seven former executives for allegedly orchestrating a global conspiracy to restrict production and inflate prices for standard shipping containers. The superseding indictment, originally filed on January 22, 2024, and unsealed on May 19, 2024, accuses the companies and executives of violating Section 1 of the Sherman Antitrust Act by conspiring to limit output and fix prices for nearly all standard unrefrigerated ocean shipping containers between November 2019 and January 2024.
The indictment marks the latest in a series of investigations by the Justice Department related to the COVID-19 pandemic. Federal prosecutors allege that the manufacturers exploited the pandemic to raise prices dramatically. The case impacts about $35 billion of global commerce and affects Americans who struggled with supply chain disruptions during the pandemic.
The four companies charged are Singamas Container Holdings Ltd, China International Marine Containers (Group) Co., Ltd., Shanghai Universal Logistics Equipment Co. (also known as Dong Fang Ltd.), and CXIC Group Containers Co., Ltd. The seven executives include Singamas CEO Siong Seng Teo, CIMC CEO Boliang Mai, CIMC Vice President Tianhua Huang, CIMC General Manager Yongbo Wan, Dong Fang General Manager Qianmin Li, and CXIC CEO Yuqiang Zhang. The sole defendant in custody, Vick Nam Hing Ma, served as marketing director for Singamas Container Holdings Ltd. His extradition to the U.S. is pending after his apprehension in France in April 2024.
The indictment alleges that the companies and executives engaged in illegal price-fixing during the pandemic, which federal prosecutors say led to higher costs for consumers. The case was secured in 2025 in the Northern District of California but remained under seal until Ma’s arrest. The Justice Department has not yet commented on the allegations of production cuts before the pandemic, which were reported by CBS News.
The indictment comes amid broader scrutiny of Chinese companies and their role in global supply chains. The case highlights the ongoing tensions between the U.S. and China over trade practices and market competition.