The U.S. Department of Justice has unsealed a federal indictment accusing seven Chinese executives and four shipping container manufacturers of orchestrating a price-fixing and supply restriction scheme during the early stages of the COVID-19 pandemic.
Federal prosecutors announced the charges Tuesday, alleging the companies manipulated the global shipping container market by coordinating production cuts that contributed to rising costs and widespread supply chain disruptions.
According to a statement made during a Justice Department press conference, officials believe the companies involved controlled the overwhelming majority of the world’s standard dry shipping container production at the time of the alleged conspiracy.
Associate Attorney General Stanley Woodward said investigators uncovered evidence that the manufacturers worked together to limit output as the pandemic began affecting international commerce.
“Collectively, the Chinese conspirators manufacture about 95% of the world’s standard dry shipping containers,” Woodward said. “These charges arise from a conspiracy to restrict the output and fix prices of shipping containers at the start of the COVID-19 pandemic.”
Prosecutors allege the coordinated actions created an artificial shortage that drove up costs for businesses transporting goods globally. Per statement from Justice Department officials, container prices surged between 2019 and 2021 while the accused companies recorded major profit increases.
Woodward accused the firms of taking advantage of the economic turmoil caused by the pandemic.
“Around the start of the global pandemic, these manufacturers exploited the crisis and their market power to squeeze the supply chain for profit,” he said.
Acting Assistant Attorney General Omeed A. Assefi said all defendants were charged under the Sherman Antitrust Act. He also confirmed that one executive, identified as Vick Ma, was arrested in France earlier this year and is currently awaiting extradition proceedings.
“All of the defendants have been charged with one count of violating Section One of the Sherman Antitrust Act, and one defendant, executive Vick Ma, was arrested earlier this year in France, where he is currently pending extradition to the United States,” Assefi said.
According to a statement from prosecutors, the alleged arrangement among the manufacturers began in late 2019, shortly before the global shipping crisis intensified. Investigators claim the companies had previously operated as competitors before agreeing to reduce production levels.
Assefi said the agreement allowed the firms to increase prices by constraining supply during a period of rapidly growing demand for cargo transportation.
“So, in November of 2019, on the brink of the COVID-19 pandemic, the six manufacturers entered into a conspiracy to restrict how many standard containers they would all make,” Assefi said. “This allowed the companies to create an artificial shortage, which enabled them to raise container prices and make more money at your expense.”
Federal officials also alleged that the companies monitored one another’s production activity and pricing through coordinated oversight measures. According to a statement presented at the briefing, investigators found evidence that video surveillance systems were used to track manufacturing operations and pricing compliance among the companies.
The Justice Department said the alleged conspiracy had significant financial consequences worldwide. Per statement from prosecutors, one company reportedly moved from a $110 million loss in 2019 to a $180 million profit in 2021, while another saw profits increase from roughly $20 million to approximately $1.75 billion over the same period.
Assefi described the case as one of the largest international cartel prosecutions pursued by the department in recent years.
“This case is a milestone in international cartel enforcement with a value of commerce exceeding, by some early estimates, $35 billion,” he said.
Officials also disclosed additional details about the investigation timeline. According to a statement from Assefi, a federal grand jury returned the indictment in October 2025, but authorities kept it sealed while pursuing arrests and international coordination efforts.
He said Ma was taken into custody on April 14, 2026, while attempting to travel through Paris.
“On that night, the defendant, Vick Ma, a global trotting Chinese executive, attempted to fly from Charles de Gaulle Airport to Hong Kong, where he was intercepted by a group of law enforcement officials as part of Operation Midnight in Paris,” Assefi said.
