Singapore Shipping Executive Teo Siong Seng Faces US Civil Lawsuits Over Alleged Container Price-Fixing Cartel
Singapore shipping magnate Teo Siong Seng faces civil lawsuits in the US alongside other container industry executives accused of orchestrating a global price-fixing cartel. The scheme allegedly inflated container prices from US$1,600 to US$3,500 between 2019 and 2021.