Image for representation purposes only The United States has charged seven Chinese executives and four of the world’s biggest shipping container manufacturers with allegedly fixing prices and restricting the global supply of shipping containers during the COVID-19 pandemic. The U.S. Department of Justice (DOJ) said the companies controlled about 95% of the world’s standard dry shipping container production and worked together between November 2019 and January 2024 to limit output and raise prices. Prosecutors said the alleged conspiracy increased the cost of shipping containers during the global supply chain crisis, forcing businesses and consumers to pay more for goods shipped worldwide. The companies named in the indictment are Hong Kong-listed Singamas Container Holdings Ltd., Chinese container manufacturing giant China International Marine Containers (Group) Co., Ltd. (CIMC), Shanghai Universal Logistics Equipment Co., Ltd., also known as Dong Fang International Containers, and CXIC Group Containers Co. Ltd.. The DOJ said executives from the companies met in Shenzhen in November 2019 and agreed to reduce production in order to increase container prices. According to prosecutors, the companies limited production shifts and factory operating hours, agreed not to build new factories, and created a penalty system for companies that broke the agreement. Investigators also alleged the companies installed 87 surveillance cameras across 49 production lines to make sure manufacturers followed the agreed production limits. By September 2020, prosecutors said the alleged cartel expanded the arrangement to limit the number of containers supplied to specific customers, including major U.S.-based shipping lines, logistics companies and container leasing firms. The DOJ said the conspiracy later evolved into production caps that remained in place until at least late 2023. Prosecutors cited internal presentations allegedly showing “allowable quota” limits assigned to participati