The US Department of Justice has indicted seven executives from four Chinese container manufacturers, including Singamas and CIMC, for alleged price fixing during the pandemic years, reported a DOJ press release.

The indictment, unsealed in January 2026, accuses the companies of violating the Sherman Antitrust Act by conspiring to restrict output and fix prices of standard dry containers between 2019 and 2024. Prices of 20-foot and 40-foot containers more than doubled during that period as global supply chains faced severe disruption.

One executive, Vick Nam Hing Ma of Singamas, has been arrested. Others charged include Teo Siong Seng, chief executive of Singamas and chairman of Pacific International Lines. The companies named are CIMC, Shanghai Universal Logistics Equipment, and CXIC Group Containers.

The DOJ said the alleged cartel 'held hostage the world's supply of ocean shipping containers during the Covid pandemic.' Investigators cited evidence of agreements to limit production shifts, install surveillance on factory lines, avoid building new plants, and penalize cheating through a shared fund.

The case will be prosecuted in federal court in San Francisco. Violations of the Sherman Act carry penalties of up to 10 years in prison and US$1 million in fines for individuals, and up to $100 million for corporations. Fines may be increased to twice the gain or loss caused by the crime.

The Sherman Act also allows private parties to seek treble damages. Cargo interests affected by soaring container prices during the pandemic could file lawsuits if the courts confirm the manufacturers attempted to monopolize the market.