January 29th, 2026 – CMA CGM Group is set to acquire 10 of its global ocean terminals—including two in the United States—through a new joint venture with a U.S. private equity investor.
The joint venture, United Ports LLC, is based in the United States and was formed after Stonepeak, a Los Angeles infrastructure-focused investment firm, committed $2.4 billion for a 25% ownership stake.
CMA CGM Chairman and CEO Rodolphe Saade said the launch of United Ports LLC represents a major milestone in expanding the company’s terminal operations both in the U.S. and internationally. He noted that the partnership consolidates 10 CMA CGM-operated terminals across six countries, including major sites such as Fenix Marine Services (FMS) in Los Angeles, Port Liberty in New York, Santos in Brazil, and Nhava Sheva in India. Saade added that teaming up with an investor known for infrastructure expertise will strengthen CMA CGM’s ability to invest in port terminals, secure access to critical gateways, and improve service quality for customers.
CMA CGM, the world’s third-largest liner operator, runs a fleet of 650 ships serving 420 ports worldwide. The company acquired Fenix in 2021 from EQT Infrastructure III.
Stonepeak, which invests in long-term infrastructure across sectors like logistics, energy storage, and aviation, said the deal fits its strategy of supporting critical assets. James Wyper, the firm’s senior managing director for transportation and logistics, called container terminals essential to global trade and difficult to replace, adding that the joint venture offers a rare chance to invest in strategically located terminals alongside CMA CGM.
The terminals expected to be included in the deal are described as key assets and span multiple regions. In the United States, the portfolio includes Fenix in Los Angeles and the Port Liberty terminals in New York and Bayonne, New Jersey. International assets include terminals in Santos, Brazil; CSP Valencia, CSP Bilbao, Terminal Marítima del Guadalquivir, and TTI Algeciras in Spain; Nhava Sheva Freeport Terminal in India; CMA CGM’s Kaohsiung Terminal in Taiwan; and Gemalink in Cai Mep, Vietnam.
Under the structure of the joint venture, CMA CGM will retain a 75% stake and maintain full operational control. The company said it intends to reinvest the $2.4 billion proceeds from the transaction into its core shipping and logistics operations across sea, land, and air.
CMA CGM described the agreement as the start of a long-term relationship with Stonepeak that could expand future investment capacity and support new terminal projects in the U.S. and other markets. As part of the arrangement, Stonepeak will also have the option to contribute up to an additional $3.6 billion in funding for future joint terminal investments.
The transaction is expected to close in the second half of 2026, pending regulatory approvals.
