COSCO Shipping Ports' Subsidiary Shanghai Huanyou Faces U.S. DOJ Indictment Over Container Price-Fixing on May 22

GateNews
According to COSCO Shipping Ports announcement on May 22, the U.S. Department of Justice indicted multiple container manufacturers and individuals for allegedly conspiring to restrict output and manipulate prices of non-refrigerated transport containers. The company's subsidiary Shanghai Huanyou Logistics Equipment Co., Ltd. is named in the indictment. As of the announcement date, Shanghai Huanyou has not received any legal documents or court filings from the DOJ. COSCO stated that normal business operations are maintained across all material aspects and will closely monitor developments in the case.
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