( May 19, 2026, 19:42 GMT | Official Statement) -- MLex Summary: The US Department of Justice's Antitrust Division said seven Chinese executives and four of the world’s largest shipping container manufacturing companies have been indicted for conspiring to restrict the output of — and fix the prices of — nearly all of the world’s standard unrefrigerated shipping containers. The conspiracy lasted for over four years, spanning as early as November 2019 to at least January 2024, and violated Section 1 of the Sherman Act, the DOJ said in a statement. The multi-year scheme roughly doubled the prices of standard shipping containers between 2019 and 2021, while increasing the container manufacturers’ profits approximately one hundredfold during the Covid-19 pandemic and global supply chain crisis. One executive, Vick Nam Hing Ma, was arrested and his extradition to the United States is pending. Six executive co-defendants remain at large, the DOJ said.Statement follows. See attached document...
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