CMA CGM, Stonepeak Complete $2.4 Billion United Ports Joint Venture

French shipping and logistics giant CMA CGM and infrastructure investment firm Stonepeak have officially completed the formation of United Ports LLC, finalizing a $2.4 billion joint venture that brings together a portfolio of major container terminals across the United States, Europe, Asia and South America. 

The transaction, first announced in January, closed after receiving all required regulatory approvals. Stonepeak has acquired a 25% stake in the new company for $2.4 billion, while CMA CGM retains a 75% ownership interest and full operational control.

United Ports initially includes nine CMA CGM-operated terminals in five countries, including Fenix Marine Services in Los Angeles, Port Liberty terminals in New York and Bayonne, Santos in Brazil, CSP Valencia, Bilbao and TTI Algeciras in Spain, Kaohsiung Terminal in Taiwan, and Gemalink in Vietnam. CMA CGM said its stake in India’s Nhava Sheva Freeport Terminal is expected to be added once remaining regulatory approvals are secured. 

The venture is intended to serve as a long-term investment platform focused on expanding port capacity and modernizing terminal infrastructure. Planned investments include additional cargo-handling equipment, stronger rail and inland logistics connections, and electrification and shore power projects aimed at reducing port emissions.

Stonepeak has also committed up to an additional $3.6 billion to pursue future port infrastructure investments alongside CMA CGM through the new company.

“This transaction marks a new milestone in the Group’s port infrastructure development strategy,” CMA CGM said. “It will accelerate investments in new port capacity and improve the logistics offer for its customers.” 

The completion comes as CMA CGM reported strong second-quarter financial results, with revenue rising 19.2% year-over-year to $15.7 billion and EBITDA increasing 31% to $3.0 billion. The company said shipping volumes climbed 6% despite continued disruptions caused by geopolitical tensions in the Middle East, which increased insurance costs and forced network adjustments. 

CMA CGM said it continues to deploy alternative multimodal corridors serving Gulf countries while expanding its terminal network and logistics operations globally. During the quarter, the company also launched the second phase of the Gemalink terminal expansion in Vietnam and signed a strategic infrastructure partnership with Kenya. 

The Marseille-based company, the world’s third-largest container carrier, now operates a fleet of more than 700 vessels and carried more than 24 million TEUs in 2025. Through its growing portfolio of terminals and logistics assets, CMA CGM has continued to invest heavily in port infrastructure as part of a broader strategy to integrate shipping, terminals, logistics and air cargo into a single global transportation network.

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