Chinese execs, shipping container companies accused of price fixing during pandemic

Politics U.S. accuses Chinese execs, shipping container companies of price fixing during pandemic By Sarah N. Lynch Sarah N. Lynch Senior Justice Department Reporter Sarah N. Lynch is the senior Justice Department reporter for CBS News, based in Washington, D.C. Read Full Bio Sarah N. Lynch May 19, 2026 / 4:38 PM EDT / CBS News Add CBS News on Google Seven Chinese executives and four of the largest shipping container manufacturers were criminally charged in an antitrust case alleging they engaged in illegal price fixing during the pandemic six years ago, federal prosecutors announced on Tuesday.The indictment, which was first reported by CBS News, marks the latest in a series of investigations by the Justice Department related to the COVID-19 pandemic, a topic that has long been of interest to President Trump and his allies."We are holding these Chinese bad actors accountable for exploiting the pandemic to fill their own coffers," said Associate Attorney General Stanley Woodward. He said the manufacturers "exploited the crisis and their market power to squeeze the supply chain for profit through coordinated agreements." As a result, their actions "dramatically raised the prices of shipping containers" in the lead-up to and during the pandemic, Woodward said.Omeed Assefi, the acting assistant attorney general for the Antitrust Division, said that the indictment was secured in 2025 in the Northern District of California, but remained under seal until one of the defendants — Vick Nam Hing Ma — was apprehended and detained in France in April. His extradition to the U.S. is still pending.The four companies charged in the case are Singamas Container Holdings Ltd, China International Marine Containers (Group) Co., Ltd., Shanghai Universal Logistics Equipment Co. — also known as Dong Fang Ltd. — and CXIC Group Containers Co., Ltd. The other charged individuals are Singamas CEO Siong Seng Teo, CIMC CEO Boliang Mai, CIMC Vice President Tianhu...