The CMA CGM Group will acquire 10 of its global ocean terminals, including two in the United States, through a joint venture with an American private equity investor.
The U.S.-based joint venture, United Ports LLC, was created with a $2.4-billion investment from Stonepeak of Los Angeles, an infrastructure specialist which owns a 25% share of the company.
“The creation of United Ports LLC marks an important step in the development of our terminal activities in the United States and globally,” said Chairman and Chief Executive Rodolphe Saade, whose family controls Marseilles-based CMA CGM, in a release. “Through this strategic partnership, we bring together 10 CMA CGM-operated terminals across six countries, including major facilities such as FMS (Fenix Marine Services) in Los Angeles, Port Liberty in New York, Santos in Brazil and Nhava Sheva in India. By joining forces with a partner with strong infrastructure expertise, we strengthen our ability to invest further in our port terminals, secure access to key gateways and enhance service quality for our customers.”
Saade was in the Oval Office in April when President Donald Trump announced his wide-ranging initiative to revive the U.S. maritime sector. CMA CGM is the world’s third-largest liner operator, with 650 ships serving 420 ports. It acquired Fenix in 2021 from EQT Infrastructure III.
Stonepeak backs specialized platforms such as energy storage, aviation, and logistics infrastructure, and partners with management teams for long-term development and operations.
“Container terminals play an essential role in global trade and are among the most difficult to substitute or replicate transportation infrastructure assets,” said James Wyper, senior managing director, who oversees transportation and logistics at Stonepeak. “This joint venture represents a truly differentiated opportunity to invest in a high-quality portfolio of strategically located terminals alongside one of the largest and most respected shipping and logistics groups in the world. We look forward to working closely with CMA CGM’s expert team to support this critical infrastructure.”
The transaction is set to include what the partners describe as “key assets”: Fenix in Los Angeles and Port Liberty terminals in New York and Bayonne, N.J.; Santos terminals in Brazil; CSP Valencia, CSP Bilbao, Terminal Maritima del Guadalquivir and TTI Algeciras of Spain; India’s Nhava Sheva Freeport Terminal; CMA CGM Kaohsiung Terminal of Taiwan and Vietnam’s Gemalink in Cai Mep.
CMA CGM will hold a 75% stake in United Ports and full operational control. CMA CGM said it plans to reinvest the $2.4 billion from the transaction in its core shipping and logistics businesses across sea, land and air.
The company said the announcement is the beginning of a long-term relationship with Stonepeak, which could develop and support future investment capacity and new terminal projects in the U.S. and globally. As part of the transaction, Stonepeak will have the opportunity to contribute an additional $3.6 billion in funding for future joint terminal projects.
The transaction is expected to close in the second half of 2026, subject to regulatory approvals.
Find more articles by Stuart Chirls here.
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