Seized drug-smuggling ship MV Matthew sold for one dollar
The Irish Revenue has sold the seized drug-smuggling vessel MV Matthew for a nominal fee of one dollar after it was used in a record-breaking cocaine seizure. The ship, which cost millions to maintain, will be refitted in Bulgaria for use as a grain carrier.
Why it matters
It highlights the logistical and financial burdens placed on state authorities when managing assets seized from international organized crime syndicates.
A drug-smuggling cargo ship which cost the State around €17 million to maintain since its seizure three years ago was transferred to a company for a “nominal” fee of one dollar, Revenue has said.
The MV Matthew was detained in September 2023 as part of an operation which led to the largest seizure of cocaine in Irish history – 2.2 tonnes or €157 million.
Revenue detained the vessel and seized the cocaine while An Garda Síochána arrested six of the crew and two men who crewed the “daughter vessel”, the Castlemore, which sank off the coast of Wexford.
They were found guilty at the Central Criminal Court and sentenced on July 4 2025 to terms of imprisonment ranging from 13-and-a-half years to 20 years.
The Army Ranger Wing was also involved in the operation.
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