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The U.S. Department of Justice has charged four Chinese container manufacturing companies with conspiracy to manipulate the market; one defendant was arrested in France and is awaiting extradition.
** [Caixin]** Multiple Chinese container companies are accused by the U.S. Department of Justice of market manipulation.
On May 19, the U.S. Department of Justice publicly filed a lawsuit, accusing four of the world's largest container manufacturing companies and seven corporate executives of colluding at least from November 2019 to January 2024 to control dry cargo container production and manipulate market prices, allegedly violating the U.S. Sherman Antitrust Act.
The companies being sued are China International Marine Containers (CIMC) Group and Singamas Container Holdings. The U.S. Department of Justice alleges that two other container manufacturing companies also participated in the "conspiracy," but these two companies have not yet been publicly named or sued by the U.S. Department of Justice.