US Charges Chinese Executives, Firms in Shipping Cartel Case
The U.S. has charged seven Chinese executives and four shipping firms with operating an illegal container cartel. The charges allege a conspiracy to fix prices and rig bids in the shipping industry.
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US charges seven Chinese executives and four firms with illegal shipping container cartel - Reuters
US charges seven Chinese executives and four firms with illegal shipping container cartel Reuters
Read full article →US charges 7 Chinese executives and 4 shipping firms linked to container cartel
The US has charged seven Chinese executives and four of the world’s largest shipping container companies with conspiring to restrict supply, raising the price of containers during the Covid-19 pandemic, Department of Justice officials said on Tuesday. The companies together manufacture about 95 per cent of the world’s standard dry shipping containers and conspired to restrict output and fix prices between November 2019 and January 2024, the DOJ said. Prosecutors allege the scheme result...
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