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The European Court of Auditors (ECA) has issued a scathing report on EU investment in port infrastructure projects, branding a third of EU spending in 2000-13 as “ineffective and unsustainable”.  Full story >>

Rising global accumulations threaten to overwhelm the global insurance sector, according to the president of the International Union of Marine Insurance (IUMI).  Full story >>

The Norwegian maritime community’s continuing trauma from the oil price collapse is nowhere more acute than in the Sunnmore region on its west coast, home to most of its offshore services vessel (OSV) companies and the shipyards that build this tonnage.  Full story >>

Rumours that Kawasaki Kisen Kaisha (‘K’ Line) would file for bankruptcy in mid-October, which had shocked the container shipping sector, apparently stem from the collapse this month of a Japanese company with a similar name.  Full story >>

Container lines on the Asia-Europe trade will be in a relatively strong position in their contract negotiations later this year as the Hanjin fiasco has rattled shippers, according to market analysts.  Full story >>

Dutch shipping family Switijnk is planning to order an 8,000 dwt general cargo vessel incorporating wind-assisted propulsion.  Full story >>

Visakhapatnam port on India’s eastern seaboard is planning a significant upgrade of its oil-handling facilities to help meet expected rapid growth in demand for oil and oil products in the country.  Full story >>

At the behest of the Seoul Central District Court, the Korea Development Bank will give STX Offshore & Shipbuilding KRW60 billion (USD54.3 million) in debtor-in-possession financing.  Full story >>

Hanjin Shipping’s ships are making headway towards having containers offloaded in Singapore, as another of the company’s vessels berthed in the city-state on 22 September.  Full story >>

German investment manager MPC Capital on Thursday announced that it has closed the sale of eight 8,500 teu vessels for USD398 million to an Asian investor consortium, backed by the ships’ charterer, Maersk Line.  Full story >>

German shipping lender DVB Bank slashed its earnings forecast and warned shareholders that it will book a severe loss in excess of EUR10 million (USD11.2 million) this year for the first time in decades.  Full story >>

An Indian-owned heavy-load vessel, completed in June by a Chinese shipyard, has bolstered the fleet under the commercial management of Hamburg-based company United Heavy Lift.  Full story >>

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