The bill to the Revenue Commissioners of storing, managing and maintaining seized ‘drug ship’, the MV Matthew now totals €9.11m.
That is according to new figures provided by the Minister for Finance Paschal Donohoe, who said that the it is costing the Revenue Commissioners on average €120,000 per week to maintain and store the ship.
The MV Matthew was seized on September 26, 2023 in a dramatic drugs operation off the south coast.
On board gardaí and Revenue Customs officers found 2.2 tonnes of cocaine worth an estimated €157m.
Eight men have pleaded guilty to offences arising from the drugs seizure and are due to be sentenced at the Special Criminal Court on July 4.
The ship remains at Cork Harbour and in a written Dáil reply to Séamus McGrath on the costings, Minister Donohoe provided a breakdown of the €9.11m bill to the Revenue Commissioners from September 26, 2023 to the end of May.
“In relation to the costs, taking account of all payments made and charges pending, Revenue estimates that the average weekly cost of managing and maintaining the vessel is in the order of €120,000 per week,” Paschal Donohoe said.
Minister Donohoe told the Cork South Central TD that the €9.11m bill is made up of €3.43m in crewing, €3.6m in maintenance and €2.07m in berthing, unberthing and movement of the vessel.
Mr Donohoe said the maintenance costs includes costs such as ship’s stores and provisions, bunkering fuel, waste removal, miscellaneous repairs and maintenance, agent and professional fees and insurance.
He stated that the bidding process for the sale of the MV Matthew by the Revenue Commissioners was concluded in the first quarter of 2025 and a preferred bidder was identified.
He said that the Special Criminal Court on December 2, 2024 authorised the release of the MV Matthew, thereby facilitating its disposal.
“It was not possible to commence the disposal process prior to this date,” he stated.
Minister Donohoe stated that: “I am assured by Revenue that the disposal of this vessel is a key priority and all necessary steps to complete its disposal as expeditiously as possible are being undertaken”.
“The regulatory requirements as they apply to the MV Matthew are complex and ensuring compliance with these regulatory requirements is time consuming. Due to the complexities of the regulatory framework, it may be a further number of months before the disposal of the vessel will be completed,” he said.
Minister Donohoe stated that since March 2025, Revenue has been actively engaging with the vessel’s flag state, Panama and the Marine Survey Office to ensure that these regulatory requirements are satisfied, including the requirement that the following vessel certificates be issued by the flag state.
Reporting by Gordon Deegan
