A PYMNTS Company

DOJ Alleges Global Shipping Container Cartel Manipulated Supply and Prices During Pandemic

By  |  May 21, 2026
Department of Justice symbol on US flag

The U.S. Department of Justice has charged four of the world’s largest shipping container manufacturers and several executives in what prosecutors describe as a yearslong conspiracy to restrict production and inflate prices during the COVID-19 pandemic, according to the Wall Street Journal and federal court filings.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    yesSubscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    The companies named in the indictment are Hong Kong-based Singamas Container Holdings and China-based China International Marine Containers, Shanghai Universal Logistics Equipment, and CXIC Group Containers. Prosecutors allege the firms coordinated to limit the supply of standard dry shipping containers between late 2019 and early 2024, violating U.S. antitrust law.

    According to the Wall Street Journal, the companies collectively produce nearly all of the world’s standard unrefrigerated shipping containers, giving them enormous influence over global trade and supply chains. The DOJ said the alleged conspiracy contributed to rising transportation costs and shipping delays during the pandemic-era supply chain crisis.

    Federal prosecutors claim the companies conspired to “restrict the output of — and fix the prices of — nearly all of the world’s standard unrefrigerated shipping containers,” per the Justice Department. Authorities allege container prices nearly doubled between 2019 and 2021 while manufacturer profits surged dramatically during the period.

    The indictment also names seven Chinese executives tied to the companies. One executive, Vick Nam Hing Ma of Singamas, was arrested in France in April and is awaiting extradition to the United States, according to the DOJ.

    Read more: DOJ Accuses Chinese Shipping Container Executives of Pandemic-Era Antitrust Scheme

    Associate Attorney General Stanley Woodward said investigators believe the manufacturers used the pandemic to increase profits at the expense of consumers and businesses worldwide. “Around the start of the global pandemic, these manufacturers exploited the crisis and their market power to squeeze the supply chain for profit,” Woodward said, according to the Justice Department.

    Per the Wall Street Journal, prosecutors allege the companies coordinated production limits as global demand for shipping capacity surged. Authorities said the alleged scheme affected billions of dollars in commerce and increased costs for American consumers waiting for goods during pandemic-related shortages.

    Additional details from court filings indicate prosecutors believe the manufacturers monitored compliance with agreed production restrictions and avoided expanding manufacturing capacity during the period. According to federal prosecutors, the companies controlled roughly 95% of the global market for standard dry shipping containers.

    “These defendants, as alleged, sought to exploit a global pandemic to increase their own profits,” U.S. Attorney Craig H. Missakian said in a DOJ statement. “Their illegal agreement to fix prices and limit supply of these shipping containers resulted in the American consumer paying more and waiting longer for critical goods.”

    The case was filed in the U.S. District Court for the Northern District of California. Prosecutors are pursuing charges under the Sherman Antitrust Act, one of the country’s primary laws prohibiting price-fixing and anti-competitive behavior.

    Source: WSJ