MV Matthew leaves Cork after costing state millions in seizure fees

The MV Matthew, a 28,000-tonne bulk carrier that became the focal point of the largest drug seizure in Irish history, departed Cork Harbour. The vessel’s exit follows a protracted three-year stay that cost the Irish State €16,841,193 in maintenance, crew, and berthing fees, triggering calls for a policy review regarding the handling of seized assets.

Detained on 26 September 2023, the vessel was intercepted off the coast of Ballycotton in a high-stakes operation. Army Ranger Wing personnel fast-roped onto the deck from an Air Corps helicopter to secure the ship and prevent the destruction of 2.2 tonnes of cocaine, which held an estimated value of €157 million. The vessel was subsequently escorted to Cork by the Naval Service.

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Financial and Legal Toll

The cost of maintaining the vessel while it remained under the control of Revenue Customs proved a significant fiscal burden. Documentation confirmed by the Revenue Commissioners shows that €3.73 million was spent on berthing, €6.99 million on maintenance, and €5.28 million on crew costs. At its peak, the ship required an average expenditure of approximately €120,000 per week to keep electrical, ventilation, and engine systems operational.

Revenue officials have defended the spending as necessary to secure the vessel for legal proceedings. According to Revenue, the ship was required for evidentiary purposes until December 2024. Following the conviction of eight men—who were sentenced on 4 July 2025 to prison terms ranging from 13-and-a-half to 20 years—the state was finally able to initiate the disposal process. Because no party claimed ownership of the vessel after its seizure, Revenue had to navigate complex regulatory requirements with the Panama Maritime Authority Ships Registry to clear the title.

Disposal and Destination

Ultimately, the ship was sold to an international maritime company for a nominal fee of $1. The vessel is currently being towed to Varna, Bulgaria. While early reports suggested the ship was destined for scrap, subsequent updates indicate it is intended for a refit to serve as a bulk grain carrier on the Black Sea. The departure was delayed by 24 hours due to technical issues, but it eventually cleared Marino Point, ending a tenure that had sparked frequent noise complaints from nearby residents regarding the constant operation of onboard generators.

Revenue stated that its primary goal during the detention was to prevent environmental, health, and safety risks. However, the inability to recoup the millions spent on the vessel has drawn political scrutiny. Fianna Fáil TD Séamus McGrath has confirmed he intends to raise the matter with the Minister for Finance, arguing that the government must establish a more efficient framework for disposing of seized vessels in the future to avoid such significant losses to the taxpayer.

Timeline of the MV Matthew Operation

• 26 September 2023: Vessel intercepted and detained off the coast of County Cork; 2.2 tonnes of cocaine seized.
• December 2024: The ship is formally released from its role as evidence, allowing disposal procedures to begin.
• 4 July 2025: Eight individuals involved in the trafficking operation receive custodial sentences at the Central Criminal Court.
• December 2025: Revenue completes registration of title requirements with the Panamanian authorities.

What to Watch Next

Following the departure, attention is expected to shift toward the Oireachtas and the Department of Finance. Observers are awaiting a formal review of the legal and regulatory processes that led to the prolonged retention of the ship. Revenue has indicated it will continue to collaborate with international bodies, including the Maritime Analysis and Operations Centre - Narcotics (MAOC (N)) and Europol, to disrupt similar organized crime smuggling routes. Residents in Cork, meanwhile, are expected to see a resolution to the long-standing noise complaints associated with the vessel's presence in the harbor.