MV Matthew to leave Cork Harbour after costing State more than €16m

The vessel seized in Ireland's largest cocaine interception has finally been sold nearly two years after arriving in Cork Harbour

The MV Matthew has been sold for an undisclosed price, according to the Department of Finance.

The MV Matthew, the drug trafficking vessel that has been lying in Cork Harbour since September 2023, will be towed out of the harbour on Thursday evening after costing the State more than €16m to maintain.

The vessel has been sold for an undisclosed price, according to the Department of Finance.

The ship was seized after it was boarded by the Army Ranger Wing off the Cork coast on September 26, 2023.

Last July, eight men were sentenced to a total of 129 years' imprisonment for their roles in a botched drug-smuggling attempt.

Some 2.25 tonnes of cocaine, worth about €157m, were found on board the MV Matthew.

Although the vessel was cleared for potential sale by a court order in December 2024, it remained in Cork Harbour until Thursday.

It will be towed from Marino Point by four tugs, according to the Port of Cork. The authority has issued a notice to mariners describing the operation as a "complex towage operation".

The sale of the vessel was confirmed in a parliamentary reply to Cork South Central TD and Public Accounts Committee member Séamus McGrath from the Department of Finance.

The response revealed the vessel had cost Revenue more than €16m in maintenance and management costs since September 2023.

The response said: “Revenue has applied to the Panamanian authorities, as the flag State, to provide clearance for the vessel to depart. The timeline for completion of the disposal will depend on receipt of the clearance from the Panamanian Authorities.

"It is Revenue’s understanding that further works may be carried out by the acquirer that will enable the vessel to resume trading in due course.”

On Thursday morning, the Port of Cork posted details of the vessel's removal from the harbour on social media.

It requested mariners to "navigate with care when operating near the tow", noting that the MV Matthew "will have no propulsion and limited steerage".

It added: “Commercial shipping and the towage convoy will have priority in the main navigation channel throughout the manoeuvre.”