U.S. indicts four Chinese container manufacturers alleging price-fixing cartel

The U.S. Justice Department has indicted four Chinese shipping giants for conspiring to restrict container output to fix prices during the pandemic era, in one of the most significant antitrust actions brought against Chinese firms in years, even as both sides seek to stabilize bilateral ties. China International Marine Containers, or CIMC, Singamas Container Holdings, Shanghai Universal Logistics Equipment, and CXIC Group Containers colluded to cut container output from November 2019 to early 2024, pushing up prices, according to the U.S. Justice Department statement Tuesday on the indictment. “The multi-year conspiracy roughly doubled the prices of standard shipping containers between…