Strategic View:
French shipping giant CMA CGM and infrastructure manager Stonepeak announce the creation of United Ports LLC. This strategic Joint Venture combines industrial expertise with financial firepower to manage and upgrade a portfolio of 10 major container terminals.
Full Story:
In a major realignment of maritime assets, CMA CGM and Stonepeak finalized the creation of United Ports LLC on January 28, 2026. This club-style Joint Venture is a classic “Real Asset Recapitulation,” where an industrial operator (CMA CGM) monetizes a portion of its asset base while retaining operational control, and a financial sponsor (Stonepeak) gains access to core infrastructure with inflation-linked cash flows.
The JV encompasses a portfolio of 10 container terminals, assets that are notoriously difficult to acquire in the open market due to their strategic national importance. Stonepeak’s capital injection will fund modernization projects, including automation and decarbonization initiatives required to keep these ports competitive. For CMA CGM, the deal provides a significant liquidity event to deleverage its balance sheet following years of aggressive acquisitions.
This partnership underscores the growing interdependence between “Big Shipping” and “Big Infrastructure.” As supply chains become more complex, shipping lines are seeking financial partners to share the burden of maintaining land-side infrastructure. Stonepeak, with its deep bench in transport and logistics, acts as the perfect co-pilot, offering capital solutions that go beyond simple sale-and-leaseback arrangements.
Why It Matters Summary:
This JV signals a continued appetite for “brownfield” infrastructure. By carving out terminal assets into a shared vehicle, operators can recycle capital into new vessels or logistics tech, while infrastructure funds secure the steady, contracted yields their LPs demand.
Source:
Stonepeak Press Release
