The U.S. Department of Justice has filed formal charges against four of the world’s leading container manufacturing companies, along with seven of their executives.
The companies are accused of participating in a cartel agreement aimed at artificially increasing prices for standard dry cargo containers used in global trade.
According to the indictment, China’s Dong Fang, CXIC, Singamas, and CIMC allegedly agreed to restrict production volumes and raise prices starting from 2020. Investigations indicate that surveillance cameras were installed in some production lines and quota systems were implemented.
A sharp increase in revenues was recorded during the pandemic period, when global container shortages intensified.
One suspect has been detained in France and is awaiting extradition to the United States, while legal proceedings against others are ongoing.
If proven guilty, the companies and their executives could face multi-million-dollar fines and long-term prison sentences.
