CMA CGM and the American infrastructure investment firm Stonepeak have completed the formation of United Ports LLC, a joint venture that brings together nine port terminals located in the United States, Brazil, Spain, Taiwan, and Vietnam. The portfolio includes the French group’s participation in TTI Algeciras, located in Isla Verde Exterior.
Stonepeak has disbursed 2.4 billion dollars to acquire 25% of United Ports, while CMA CGM retains 75% and operational control of the new company. The transaction, initially announced in January 2026, has been formalized after receiving the required regulatory approvals.
The integration of TTI Algeciras is structured through Isla Verde Algeciras Terminal Holding, a company that owns 50% minus one share of the terminal and whose sole partner has become United Ports. This change does not alter the majority position of the South Korean shipping company HMM, which continues to control 50% plus one share of TTI Algeciras.
United Ports also includes Fenix Marine Services in Los Angeles; the Port Liberty terminals in New York and Bayonne; port assets in Santos; CSP Valencia and CSP Bilbao; the Kaohsiung terminal in Taiwan; and Gemalink in Vietnam. CMA CGM’s stake in Nhava Sheva Freeport Terminal in India may be added once pending approvals are obtained.
The new company is designed as a platform to finance capacity expansions, acquire cargo handling equipment, improve connections with rail and land transport networks, and install infrastructure linked to decarbonization. Among these are the electrification of machinery and electrical supply systems for vessels during their stay in port.
Stonepeak may contribute up to another 3.6 billion dollars for future investments in port assets alongside CMA CGM. Its potential contribution to United Ports could thus reach 6 billion dollars, although the companies have not detailed what portion of these resources will be allocated to each of the terminals in the portfolio.
In the case of TTI Algeciras, the formation of United Ports coincides with the expansion project over 15.9 hectares of Phase B of Isla Verde Exterior. The initiative, funded with over 135 million euros, will allow it to increase its annual capacity from 1.6 to 2.1 million TEUs by 2028 and will include two dock cranes, twelve automatic yard cranes, six new storage blocks, and six shuttle carriers, as well as a new operating system and a digital twin. TTI Algeciras has executed two capital increases during 2026, totaling 77 million euros, bringing the subscribed capital to 133.35 million. The concession has been extended until 2066, although CMA CGM and Stonepeak have not communicated a specific allocation of United Ports funds for this project.
CMA CGM and Stonepeak have presented UNITED PORTS LLC as a tool to accelerate the modernization of the terminals in the portfolio. The program includes financing for new capacities, acquisition of handling equipment, improvement of rail and land transport connectivity, and infrastructure linked to the decarbonization of port operations, with electrification of equipment and power supply systems for berthed vessels (OPS). Stonepeak could also commit up to an additional 3.6 billion dollars for new investment opportunities in high-growth port assets alongside CMA CGM, raising its potential contribution to 6 billion dollars.
For the French group, the operation frees up capital for new developments while maintaining operational control of a network of terminals that channels a significant part of its maritime service. For the Strait, it brings in a financial partner specialized in infrastructure to the capital of one of the main container terminals of the Andalusian hub, currently in a phase of physical expansion and technological upgrade. The operator closed a contract in July with the Korean CyberLogitec to deploy its OPUS Terminal system and a digital twin platform that will support the semi-automated operation after the expansion.