Topic
venture
Logistics Castor Maritime Shifts Kamsarmax into Fearnley-Backed JV, Banks $18.75m
Castor Maritime has delivered its 2015-built kamsarmax Magic Starlight into a joint venture arranged by Fearnley Securities, taking $18.75m in cash and keeping a 30% stake. The deal closed this month with an $11.5m sustainability-linked loan. Castor expects a $2.9m Q3 net gain and now operates a fleet of 11 vessels.
Logistics CMA CGM and Stonepeak Launch United Ports LLC in $2.4 Billion Terminal Joint Venture
French liner CMA CGM and private equity firm Stonepeak have announced the formation of United Ports LLC, a joint venture to expand CMA CGM's global network of marine terminals. Stonepeak will invest $2.4 billion for a 25% stake, with CMA CGM retaining 75% and operational control. The venture includes 10 key port assets across four continents, and CMA CGM plans to reinvest the capital in its core transportation businesses.
Logistics Japanese Shipping Venture Sakura Ocean Places Debut Bulker Orders at Three Domestic Yards
Sakura Ocean Corporation has ordered its first three bulk carriers at three Japanese shipyards: Imabari Shipbuilding, Onomichi Dockyard, and Tsuneishi Shipbuilding. The 40,000–42,000 dwt vessels are scheduled for delivery by 2030 and will be employed under long-term charter with domestic shipping companies. The venture was established in January 2025 via a capital and business alliance led by SOMEC Corporation, Shoei Kisen Kaisha, Onomichi Dockyard, and Kambara Kisen.