CMA CGM has secured fresh capital for port expansion through a new joint venture with Stonepeak, giving the French carrier additional firepower to expand its global terminal network while retaining control of strategically important gateways. According to Splash247, the two companies have completed the formation of United Ports, a joint venture holding nine container terminals across five countries.
Joint Venture Structure and Investment
Stonepeak has invested $2.4bn for a 25% stake in United Ports, while CMA CGM retains 75% ownership and full operational control of the venture. Splash247 reported that Stonepeak may commit a further $3.6bn to new port investments alongside CMA CGM, taking its potential total contribution to $6bn. The transaction gives CMA CGM additional capital to expand its terminal footprint while maintaining control of the assets.
Terminal Portfolio Details
The initial portfolio includes nine terminals:
| Terminal | Location | Country |
|---|---|---|
| Fenix Marine Services | Los Angeles | USA |
| Port Liberty (New York and Bayonne) | New York / Bayonne | USA |
| Santos Brasil | Santos | Brazil |
| CSP Valencia | Valencia | Spain |
| CSP Bilbao | Bilbao | Spain |
| TTI Algeciras | Algeciras | Spain |
| Kaohsiung Terminal | Kaohsiung | Taiwan |
| Gemalink | Gemalink | Vietnam |
Additionally, CMA CGM’s stake in India’s Nhava Sheva Freeport Terminal is expected to be added once the required regulatory approvals are secured, according to Splash247.
Expansion Plans and Infrastructure
The joint venture will fund terminal capacity expansions, cargo-handling equipment, rail and inland connections, electrification, and shore-power infrastructure across the entire portfolio. This investment is critical for CMA CGM to support its growing shipping network and address capacity constraints at key gateways. Splash247 noted that the formation of United Ports enables CMA CGM to leverage Stonepeak's infrastructure capital while retaining strategic control over these vital assets.
Implications for Shippers and Operators
Freight forwarders and shippers should expect enhanced terminal capacity and improved infrastructure at these ports over time, as the JV invests in cargo-handling equipment and rail connections. The addition of shore-power infrastructure will also help terminals meet environmental regulations. For shippers moving cargo through Los Angeles, New York/New Jersey, Santos, Valencia, Bilbao, Algeciras, Kaohsiung, or Gemalink, this investment may lead to reduced dwell times and improved berth availability as capacity expansions are completed. However, the benefits will materialize over several years as projects are executed.
Watch List
- Regulatory approval for the inclusion of Nhava Sheva Freeport Terminal in India
- Future investment decisions by Stonepeak and CMA CGM for new port acquisitions
- Implementation timeline for capacity expansions and electrification projects across the portfolio
Sources:
