Washington DC, May 22 -- The United States Department of Justice (DOJ) has indicted seven Chinese executives and four of the world's largest shipping container manufacturing companies for allegedly conspiring to restrict output and fix prices of standard shipping containers during the COVID-19 pandemic and global supply chain crisis.

According to the DOJ, the alleged conspiracy operated from at least November 2019 to January 2024 and involved nearly all of the world's standard unrefrigerated shipping containers, commonly known as dry containers.

The department said the scheme nearly doubled the prices of shipping containers between 2019 and 2021 and significantly increased profits for the companies involved.

One of the accused executiv...