The MV Matthew — held at Cork since a September 2023 seizure of 2.2 tonnes of cocaine valued at about €157m — has departed the port, Revenue confirmed. Maintaining the vessel while it was impounded cost roughly €17m. After evidential hold restrictions ended in December 2024, the ship was sold for $1 to a company that will tow it to Varna, Bulgaria; eight men received a combined 129-year prison sentence over the case.
MV Matthew Departs Cork After Record €157m Cocaine Seizure — Sold For $1
The Panama-registered MV Matthew has been in Cork harbour since September 2023 [BBC]
The MV Matthew, a 28,000-tonne Panama-registered freighter detained at Cork Port after the discovery of 2.2 tonnes of cocaine in September 2023, has left the harbour. The Republic of Ireland's Revenue service confirmed the vessel's departure on Saturday.
Keeping and securing the ship while it remained impounded cost the Irish state about €17 million. While berthed in Cork, expenses included maintenance of the engine, electrical systems and ventilation, as well as security and other preservation work required to keep the vessel in evidential condition.
The 2.2 tonnes of cocaine had an estimated value of more than €157m (£136) [PA Media]
Sale And Transfer
The vessel could not be disposed of earlier because it was required for evidential purposes until December 2024. After that restriction ended, an international shipping company acquired the MV Matthew for a nominal price of $1 under an agreement to tow the ship to Varna, Bulgaria. The symbolic sale reflects the transfer of responsibility and the high costs involved in disposing of a large impounded vessel.
Legal Outcome
Last summer eight men were convicted in connection with the seizure and were given combined sentences totalling 129 years. The case remains one of the largest maritime drug seizures in Ireland and highlighted the scale of organised trafficking using commercial shipping routes.
What Happens Next: The buyer will assume responsibility for towing and final disposal or recycling of the ship in line with international and local regulations.
Help us improve.
