The US Department of Justice has charged seven Chinese executives and four major shipping companies with conspiring to inflate container prices during the Covid-19 pandemic. The companies allegedly controlled 95% of the world's standard dry shipping containers and manipulated supply and pricing.

⁠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 resulted....