A recent report by France's Cour des comptes has uncovered major issues with how European funds have been used to modernize the French fishing industry. Despite 588 million euros being allocated to upgrade the sector, the report found that nearly 40% of new or renovated boats built with this money remain unused, docked and idle. The European Maritime and Fisheries Fund (FEAMP), meant to support the building and upgrading of fishing vessels, appears to have been misaligned with the actual needs of the industry. Shipowners were able to build boats before they received the necessary licenses or quotas to legally fish, leading to a situation where the boats were constructed but not put to use. The report also criticizes the lack of effective oversight mechanisms, which struggled to keep pace with the dramatic increase in funding from 216 million to 588 million euros. Instead of directly benefiting fishermen, the money often flowed to government agencies and professional organizations. The successor to FEAMP, known as FEAMPA, has stated that there is no justification for subsidizing new vessel construction, as the European fishing fleet is generally profitable. This contrasts with the earlier approach, where financial support was used to build new boats, despite concerns about overfishing. Another issue highlighted by the Cour des comptes is the overly complex approval process for subsidies, which created long delays between the time funds were approved and when the boats were actually operational. Over time, the fund has shifted from directly supporting infrastructure projects to providing more frequent, smaller subsidies for operating costs, which may not effectively address long-term modernization needs. The debate over funding for new fishing vessels remains contentious in Europe. A French member of the European Parliament recently suggested reviving this type of aid, which had been banned since 2005 due to concerns that it encourages overfishing. International organizations like the OECD and the World Bank, along with European auditors, agree that subsidizing new fishing capacity can harm marine ecosystems. The new FEAMPA framework reflects this view, emphasizing that public aid for new vessels is unnecessary given the profitability of the European fleet. However, the challenge remains in balancing the need to modernize aging fishing equipment with the responsibility to protect marine environments, leaving the French fishing industry caught between these competing priorities.