{"id":556278,"date":"2026-07-18T16:24:14","date_gmt":"2026-07-18T16:24:14","guid":{"rendered":"https:\/\/www.newsbeep.com\/ie\/556278\/"},"modified":"2026-07-18T16:24:14","modified_gmt":"2026-07-18T16:24:14","slug":"seized-drug-smuggling-ship-mv-matthew-sold-for-one-dollar-the-irish-times","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/ie\/556278\/","title":{"rendered":"Seized drug-smuggling ship MV Matthew sold for one dollar \u2013 The Irish Times"},"content":{"rendered":"

A drug-smuggling cargo ship which cost the State around \u20ac17 million to maintain since its seizure three years ago was transferred to a company for a \u201cnominal\u201d fee of one dollar, Revenue has said.<\/p>\n

The MV Matthew was detained in September 2023 as part of an operation which led to the largest seizure of cocaine in Irish history \u2013 2.2 tonnes or \u20ac157 million.<\/p>\n

Revenue detained the vessel and seized the cocaine while An Garda S\u00edoch\u00e1na arrested six of the crew and two men who crewed the \u201cdaughter vessel\u201d, the Castlemore, which sank off the coast of Wexford. <\/p>\n

They were found guilty at the Central Criminal Court and sentenced on July 4 2025 to terms of imprisonment ranging from 13-and-a-half years to 20 years.<\/p>\n

The Army Ranger Wing was also involved in the operation.<\/p>\n

The MV Matthew was finally towed from Cork<\/a> on Friday. It is understood the ship will be refitted in Bulgaria for future use as a bulk grain carrier on the Black Sea.<\/p>\n

Revenue said detaining the vessel was \u201cwithout precedent\u201d in Ireland, adding that it had \u201csignificantly disrupted the activities of organised crime gangs\u201d.<\/p>\n

However, disposing of the ship could not proceed until December 2024 as it was needed for \u201cevidential purposes\u201d.<\/p>\n

A Revenue spokesman said: \u201cThere were significant regulatory and legal obligations that had to be satisfied to facilitate the removal of the MV Matthew from the Port of Cork. <\/p>\n

\u201cThe process was complicated due to the vessel\u2019s previous use as a conveyance for international drug smuggling. <\/p>\n

\u201cThe regulatory and legal requirements for departure of the vessel, given the manner in which it was used by the organised crime gang, could only be achieved through ongoing engagement with international parties to resolve the complex issues that presented.\u201d<\/p>\n

\"TheThe MV Matthew being escorted out of Cork on Friday after almost three years. Photograph: Provision <\/p>\n

Because no one claimed ownership of the vessel following its seizure, Revenue said it had to take steps to ensure it was properly maintained.<\/p>\n

It was not until December last year when Revenue completed all registration of title requirements with the Panama Maritime Authority Ships Registry, the vessel\u2019s Flag State, which allowed the agency to enter into an agreement with an acquiring party for the ship\u2019s departure.<\/p>\n

Revenue reports that safely managing and maintaining the vessel to date has cost in the region of \u20ac17 million.<\/p>\n

The spokesman added: \u201cUltimately, an international shipping company acquired the MV Matthew for a nominal consideration of one dollar with an agreement to tow the vessel to Varna in Bulgaria under a single voyage exemption by way of a dead ship tow.\u201d<\/p>\n

\"TheThe Army Ranger Wing boarding the MV Matthew in September 2023. Photograph: Irish Air Corps\/PA<\/p>\n

NOTE TO EDITORS: This handout photo may only be used for editorial reporting purposes for the contemporaneous illustration of events, things or the people in the image or facts mentioned in the caption. Reuse of the picture may require further permission from the copyright holder. <\/p>\n

The costs included essential repairs and maintenance as well as storing the ship.<\/p>\n

The spokesman said: \u201cWhile the cost arising from its detention has been significant, the seizure of the vessel was unprecedented and represented a significant internationally recognised outcome in the fight against organised crime.\u201d <\/p>\n

Fianna F\u00e1il<\/a> TD S\u00e9amus McGrath said he planned to raise the cost of keeping the ship with Harris, who is also the Minister for Finance, after being informed by Revenue<\/a> chairman Niall Cody that there is little chance of recouping the money spent on the MV Matthew. \u2013 PA<\/p>\n","protected":false},"excerpt":{"rendered":"A drug-smuggling cargo ship which cost the State around \u20ac17 million to maintain since its seizure three years…\n","protected":false},"author":2,"featured_media":62344,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[235213,61,60,43,15449],"class_list":["post-556278","post","type-post","status-publish","format-standard","has-post-thumbnail","category-ireland","tag-drugs-seizure-on-cargo-ship","tag-ie","tag-ireland","tag-news","tag-pa2025"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/556278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/comments?post=556278"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/posts\/556278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media\/62344"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/media?parent=556278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/categories?post=556278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ie\/wp-json\/wp\/v2\/tags?post=556278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}