Call to investigate €17m cost to State of drug ship MV Matthew after its sale for $1

Calls have been made to the Public Accounts Committee (PAC) to reopen its investigation into the sale of drug-trafficking vessel, the [url=

https://www.echolive.ie/corknews/arid-41881327.html]MV Matthew.[/url]

The Panamanian-registered ship, which was at the centre of the State's largest-ever cocaine seizure in September 2023, was sold earlier this month to an international shipping company for a nominal consideration of $1 (88c).

The vessel, which was found carrying 2.25 tonnes of cocaine, valued at €157m, was berthed in Cork Harbour since the drug-seizure, costing the State almost €17m to maintain.

However, it was announced last week that the rusting ship had departed Cork under a single voyage exemption by way of a dead ship tow from tug-boats Foteini, Ocean Challanger, DSG Alex, and DSG Titan.

The ship is forecast to arrive in the port of Varna, Bulgaria by August 19, where it is expected to undergo refurbishment before returning to commercial service.

Following its departure from Cork Harbour, Sinn Féin Cork South Central TD, Donnchadh Ó Laoghaire said questions remain about the value for money gained following the vessel’s sale.

"In my opinion, the PAC need to reopen its examination of this matter,” said Mr Ó Laoghaire.

“It is hard to understand how it was not possible to recoup more than a single dollar for the sale of this vessel – given the cost of maintaining the ship, it is truly extraordinary.

“It does not seem right that the taxpayer spent almost €17m, money that could have been spent on housing, disability services, health facilities, or any amount of things to the benefit the community – and that the return on it is basically nothing.

“The PAC must examine what commercial interest there was [in the vessel], because the public deserve answers.” 

 Sinn Féin councillor for the Carrigaline area, Eoghan Fahy said questions need to be answered as to why it took longer for the State to dispose of the vessel than it took for the courts to require the ship as evidence.

“The State knew they would need to dispose of the ship in 2023,” said Mr Fahy.

"All the paper work needed should have been ongoing in the background, and would have saved the State millions.

“We need answers as to why it took nearly three years to remove the vessel.

“We know that there was commercial interest in the ship and we need clear answers as to why this wasn’t explored to recoup as much of the cost as possible.”