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The Panama Canal Authority has refuted reports that there have been three collisions in the newly expanded Panama Canal. The 8,500-TEU container ship Xin Fei Zhou hit a wall while transiting the locks at Agua Clara on the Atlantic side of the canal last month. The Authority cited bad weather as the cause, but denies reports of two other accidents where vessels hit fenders. Contacting fenders during approaches to the locks or inside the chambers of the locks is normal, says the Authority, claiming that the way incidents involving the Lycaste Peace and COSCO Shipping Panama were reported was incorrect.

Officials said Seoul could give 100bn won ($91m; £68m) or more in long-term funding at low interest rates if Hanjin provided the necessary collateral. The shipping company's shares rose more than 20% on the news of a lifeline.

Hanjin's collapse has left much of its fleet stranded at sea, unable to dock over fears that vessels be seized by creditors. Parent company Hanjin Group on Tuesday also said it would inject 60bn won in fresh funds to resolve the disruptions to the cargo transport currently stuck at sea.