MV Matthew departs Cork having cost State €16m in berthing, crew and maintenance fees

MV Matthew, the massive bulk carrier seized in 2023 carrying nearly €157 million worth of cocaine, has left Ireland after spending three years in state custody. The ship departed from Cork on Friday, heading to Varna in Bulgaria, where it will undergo repairs before being used as a bulk grain carrier on the Black Sea. The Irish government has spent €16 million on the vessel during its time in custody, including berthing, maintenance, and crewing costs, according to figures disclosed by Revenue Commissioners chairman Niall Cody. The MV Matthew was intercepted off the south coast of Ireland on September 26, 2023, when Army Rangers from the Defence Forces fast-rope boarded the ship from a helicopter. They prevented the crew from destroying 2.2 tonnes of cocaine onboard. The vessel was then escorted to Cork by the Naval Service ship LE William Butler Yeates. Six crew members were later sentenced to prison terms ranging from 14 to 20 years for their roles in the smuggling operation. Two additional individuals arrested on a fishing vessel linked to the operation also received prison sentences. Since its seizure, the MV Matthew remained in state custody as part of the ongoing legal proceedings against those involved in the drug trafficking. Fianna Fáil TD Séamus McGrath, representing Cork South-Central, highlighted concerns over the financial burden placed on the state during the period the ship was held. He stated that the costs associated with maintaining the vessel amounted to approximately €120,000 per week. According to McGrath, these expenses totaled around €10 million since the ship was retained as evidence in the criminal case. McGrath raised the issue in a parliamentary question earlier this year, prompting a response from the Revenue Commissioners. Cody explained that while efforts were made to find a buyer for the vessel, the expected sale price was likely to be minimal. The complexity of the situation was compounded by the ship's original registration in Panama, which introduced additional legal and regulatory challenges. Despite acknowledging the success of the operation in removing a large quantity of drugs from circulation, McGrath emphasized the need for a thorough review of the process surrounding the retention and eventual disposal of such assets. “We must consider whether a similar scenario could arise again and ensure that we can manage such situations in a more cost-effective and timely manner,” he said. The departure of the MV Matthew marks the end of its time under Irish jurisdiction. Revenue has indicated it will release a formal statement regarding the vessel's disposition. The ship's journey to Bulgaria signals a new chapter in its history, transitioning from a symbol of one of the largest drug seizures in recent memory to a commercial asset intended for legitimate trade purposes. As the vessel moves forward, questions remain about how such high-value assets might be handled in the future to avoid placing undue financial strain on public resources.