A major US importer has launched a class-action lawsuit against the global leaders in shipping container production, alleging they colluded to artificially inflate prices between 2019 and 2021, resulting in a significant price surge.
Shipping container manufacturers are under scrutiny.
Related ↗British companies halt recruitment amid Iran conflict impact, REC research indicates.A class-action lawsuit has been initiated by an Arizona-based importer against several international shipping container manufacturers, including China International Marine Containers (Group) Co Ltd and Singamas Container Holdings, in Oakland, California on Tuesday.
US-based C.A. Spalding, a supplier to aerospace, automotive, and other sectors, claims an alleged conspiracy led to inflated costs for shipping containers.
Read next ↗Tate & Lyle accepts a £2.7 billion all-cash acquisition from Ingredion.A class-action lawsuit has been filed by a US importer against the indicted shipping container manufacturers, who collectively produce approximately 95% of global standard dry shipping containers, following a recent indictment by the U.S. Justice Department. Typically, such indictments are followed by civil lawsuits like this one.
Prosecutors claim that major U.S.-based container leasing firms, shipping lines, and logistics companies were among those affected by the defendants' alleged price manipulation. This led to increased costs and delayed shipments for American consumers nationwide.
Billions of dollars' worth of goods are transported every year by standard dry shipping containers, crossing oceans to reach US households, according to a recent statement from the Justice Department.
A class-action lawsuit has been filed against the manufacturers of shipping containers, with no specific financial compensation sought. The companies involved, China International Marine, Singamas, and CXIC, are yet to provide a response to inquiries.
