‘No timeline’ for sale of drugs ship docked in Cork, with costs rising to more than €11m

The sale of the MV Matthew has not yet gone through, the Revenue Commissioners said, as the ship’s “significant” environmental, ecological, and economic risks have seen costs rise over €11m.

In a letter to the Public Accounts Committee this week, a Revenue spokesperson wrote: “Detaining a vessel the size of the MV Matthew is without precedent in this jurisdiction.”

The ship was detained in September 2023, and 2,253kg of cocaine was found on board.

The ship was taken to Marino Point, Cobh, where it remains. Revenue formally seized the vessel in October 2023, and, following this, “immediate steps were taken” to prepare to dispose of it — including holding consultations with a shipping broker about selling it.

However, the following month, Revenue was advised by the DPP that the ship was required for evidential purposes in an associated criminal trial and could not be disposed of.

Significant environmental and ecological risk

Revenue said that, given its size, the MV Matthew represents a significant environmental and ecological risk, as well as an economic risk to the operations of the Port of Cork, requiring it to be crewed and maintained on a continuous basis.

“This has necessarily incurred, and continues to incur, significant costs relating to insuring and crewing of the vessel, provisioning, bunkering fuel, supplies, berthage, and other port-related costs, essential repairs, and maintenance.

“Revenue estimates that the average weekly cost, to date, of managing and maintaining the vessel to be in the order of €110,000.”

A Revenue spokesperson told The Echo that overall costs had now increased to €11,006,609.

This includes €2,542,339 for berthing, €4,439,011 for maintenance, €3,899,666 for crewing, and €104,539 for the registration of ownership up to the end of September, as well as an additional €21,054 in legal fees.

Revenue said that it has been funding “only what is necessary to safely maintain the vessel”, along with the commercial insurance that was due for renewal this month.

Release

Last December, the Special Criminal Court authorised the release of the MV Matthew, facilitating its disposal. Since then, Revenue has engaged a broker. The bidding process concluded at the start of this year, and a preferred bidder was identified.

However, Revenue has said there are a significant number of regulatory obligations that must be fulfilled in order to finalise the disposal.

“Significant challenges and delays arose in this regard, due to the manner in which regulatory processes were conducted by the previous owner and the fact that the vessel was used as a conveyance for international drug smuggling,” Revenue said in the letter to PAC

Actively engaging

It said it has been “actively engaging” with Panama, the vessel’s flag state since March 2025, and said that “it is anticipated that these difficulties can be addressed and progress in the disposal process can be made”.

“As it stands, a sale has not yet been finalised and there remain certain maritime regulatory matters to be addressed. As such, it is not possible to give a firm timeline for completion of the disposal, at this point.

“However, I can assure the committee that the disposal of this vessel is a key priority for Revenue. All necessary steps are being taken to complete its disposal as expeditiously as possible.”