French shipping giant CMA CGM has launched a global marine terminals joint venture with private equity firm Stonepeak, involving 11 port assets across the US, South America, Europe and Asia, reports London's S&P Global.

Stonepeak will pay US$2.4 billion for a 25 per cent stake in the venture, United Ports LLC, while CMA CGM will retain 75 per cent and operational control. The deal values the terminals at $9.6 billion.

CMA CGM chief executive Rodolphe Saade said the partnership strengthens the carrier's ability to invest in port terminals, secure access to key gateways and improve service quality.

Stonepeak has the option to contribute US$3.6 billion in future projects, while CMA CGM will reinvest proceeds from the sale into its core business.

The venture follows Mr Saade's 2025 White House meeting with US President Donald Trump, where CMA CGM pledged $20 billion over four years to expand its US logistics presence.

US assets in the JV include Fenix Marine Services in Los Angeles and Port Liberty Terminals in Bayonne, New Jersey, and Staten Island. Spanish terminals CSP Valencia, CSP Bilbao, Terminal Maritima de Guadalquivir and TTI Algeciras are also included, along with Brazil's Santos, Taiwan's Kaohsiung, India's Nhava Sheva Freeport and Vietnam's Gemalink.

Stonepeak, which owns TRAC Intermodal and has investments in Lineage, Textainer and Logistec, said container terminals are vital infrastructure assets that are difficult to replicate.

CMA CGM operates 41 terminals worldwide, handling over 17 million TEUs annually. It also controls Terminal Link, a joint venture with China Merchants Port Holdings, which runs 21 terminals handling 29 million TEUs.

Much of CMA CGM's portfolio has been built since the pandemic, including acquisitions of Fenix Marine and Global Container Terminals' leases in Bayonne and Staten Island.

CMA CGM also formed a joint venture in 2022 with India's JM Baxi Group for a 30-year concession at Nhava Sheva, and last year launched a US$2.3 billion tender offer for the remaining stake in Brazil's Santos terminal.