I've had the same problem after my first installation. The reason was the older build12-version. After installing clean PotC + newest build + newest update + new islands + update new ilands it's running now.
But there are a lot of problems. I have to save much times because after some action the game gets laggy and freeze.
A lot of good ideas, my highest appreciation to the creators, i love this red-haired foxy wild first mate killing all my opponents <img src="http://www.piratesahoy.com/forum/style_emoticons/<#EMO_DIR#>/danse1.gif" style="vertical-align:middle" emoid="

" border="0" alt="danse1.gif" /> but i think the game is less playable now. May be the capacity limit of the engine is reached?
Further i tried making a german version again, but the results were displeasing. For example i switched the rumor_data with my earlier version in german, but ingame it stayed english........why? <img src="http://www.piratesahoy.com/forum/style_emoticons/<#EMO_DIR#>/unsure.gif" style="vertical-align:middle" emoid=":?" border="0" alt="unsure.gif" />
It's a pity but in the meantime it's to complicate making a local version, so i won't give it a try again. <img src="http://www.piratesahoy.com/forum/style_emoticons/<#EMO_DIR#>/sad.gif" style="vertical-align:middle" emoid="

" border="0" alt="sad.gif" />
But nevertheless it's a super game and a super build.