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Shipping company acquires MV Matthew for $1
Revenue said the seizure was without precedent and disrupted organised crime gangs, while the vessel’s upkeep and berthing cost the State €16.8 million.
- On Friday, the bulk carrier MV Matthew departed Cork Harbour after nearly three years in State custody, having been sold to an international maritime firm for a "nominal consideration of $1."
- Irish authorities seized the vessel in September 2023 after discovering 2.2 tonnes of cocaine valued at €157m, the largest narcotics confiscation in Irish history.
- Revenue reported the State spent €16,841,193 to maintain and berth the ship, describing the unprecedented detention as "significant" and an "internationally recognised outcome" against organized crime.
- Fianna Fáil TD Séamus McGrath questioned the ongoing expenditure, while locals had previously reported continuous "banging and whirring" noise from the vessel during its detention.
- Currently en route to Varna, Bulgaria, the vessel will be refitted as a bulk grain carrier to return to commercial service on the Black Sea.
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Coverage Details
Total News Sources11
Leaning Left5Leaning Right1Center4Last UpdatedBias Distribution50% Left
Bias Distribution
- 50% of the sources lean Left
50% Left
L 50%
C 40%
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