The United States Department of Justice has accused seven Chinese executives and four major shipping container manufacturers of colluding to control output and prices of standard shipping containers during the Covid-19 pandemic. This alleged conspiracy, which spanned from November 2019 to January 2024, impacted global prices and disrupted supply chains. US authorities claim that this scheme led to a doubling of container prices, allowing the companies to significantly boost profits amidst global supply chain challenges.
The indictment specifically mentions Vick Nam Hing Ma, also known as Vick Ma, who was apprehended in France on April 14, 2026, and is awaiting extradition to the US. Ma, a Marketing Director at Singamas Container Holdings Ltd., is one of the accused individuals, with six other executives still evading authorities. The indictment also names four prominent container manufacturing companies, including Singamas Container Holdings Ltd., China International Marine Containers (Group) Co., Ltd., Shanghai Universal Logistics Equipment Co., Ltd., and CXIC Group Containers Co. Ltd.
US prosecutors allege that executives from these companies collaborated to manipulate production levels and pricing strategies, artificially inflating container prices worldwide. These firms reportedly had significant control over the global dry shipping container market. The indictment reveals that the executives convened in Shenzhen in November 2019 to formalize the alleged agreement, which involved various tactics like limiting factory operations, monitoring production lines with surveillance cameras, and imposing penalties for breaching production limits.
The accused companies and executives are further charged with implementing production quotas for specific customers, including major US-based shipping lines, logistics companies, and container lessors. The Justice Department asserts that this expanded scheme aimed to control production levels and prices for targeted clients, exacerbating the impact on the global shipping industry.
