By Lauren Thomas and Ben Dummett
Investment firm Stonepeak has struck a deal with the French shipping company CMA CGM to create a U.S.-based port venture valued at around $10 billion.
The duo aims to accelerate investments in new terminals, which could potentially help weaken China's grip on the shipping industry, a policy goal of the Trump administration.
The details
Stonepeak said Wednesday it would make a $2.4 billion investment for a 25% stake in the joint venture to be known as United Ports. CMA CGM will hold the remaining 75% stake in the entity. The Wall Street Journal earlier reported on the plan.
The deal involves 10 ports, including the Port Liberty terminal in New York City's Staten Island and the Los Angeles Fenix Marine Services terminal, as well as sites in Brazil, in Spain and across Asia.
The deal is meant to be the first step in a bigger partnership between CMA CGM and Stonepeak, with plans for new terminal projects globally and a focus in the U.S. Stonepeak can contribute up to $3.6 billion more for those future projects.
The context
President Trump has vowed during his second term to revive America's shipping industry. It is an issue that both Republicans and Democrats largely see as an economic and national security priority to counter the rise of China.
Last March, CMA CGM pledged $20 billion in investments in the U.S. to build out shipping logistics and terminals over the next four years.
CMA CGM Chief Executive Officer Rodolphe Saadé visited Trump in the Oval Office when the commitment was announced and Trump hailed the move.
Stonepeak is an infrastructure-focused investment firm with about $80 billion in assets under management. It targets sectors including transport and logistics, digital infrastructure, energy and real estate.
Stonepeak counts Trac Intermodal, an infrastructure provider for the movement of containers to and from ports across the U.S., among its current holdings.
Write to Lauren Thomas at lauren.thomas@wsj.com and Ben Dummett at ben.dummett@wsj.com
(END) Dow Jones Newswires
January 28, 2026 13:50 ET (18:50 GMT)
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