Detained cargo ship sold for €4.8m to pay crew’s wages

A huge cargo ship detained in Dublin Port for non-payment of its crew was sold by court-ordered auction yesterday for €4.8m.

The Belize-registered 600-ft long bulk carrier, MV Clipper Faith, was bought by a Greek shipping firm after bids soared from €2.1m to €4.8m in under five minutes.

The 15-year-old 20,000-tonne vessel was arrested in Dublin Port last March on foot of a claim made against it by Amsterdam Trade Bank, which holds a mortgage over the vessel.