The world's third-largest liner operator is taking a major leap toward becoming a major player in the ports business. French liner CMA CGM and private equity investor Stonepeak of New York today announced the formation of United Ports LLC, a joint venture aimed at expanding the former's global network of marine terminals. "The creation of United Ports LLC, our joint venture with Stonepeak, marks an important step in the development of our terminal activities in the United States and globally," said Rodolphe Saade, chairman and chief executive of closely-held CMA CGM Group. "Stonepeak is excited to partner with CMA CGM on this transformative platform," the investor said in the release. "Container terminals are critical, hard‑to‑replicate infrastructure assets, and we see significant potential to work with CMA CGM to accelerate investment and growth in this sector."