The Irish Revenue Commissioners have recently reported that the cargo vessel Matthew, seized in connection with international drug trafficking, has been transferred for a symbolic consideration of US$1 to an international shipping company after a prolonged period under detention. The vessel will be towed to the port of Varna in Bulgaria for subsequent disposal.

The vessel was intercepted by law enforcement near the Port of Cork in September 2023 in a joint operation involving the Revenue Commissioners, An Garda Síochána, and the Army Ranger Wing. A substantial quantity of smuggled goods was seized, making it one of the largest cases of its kind in the country in recent years. Several individuals associated with the vessel and linked ancillary craft were subsequently arrested and, following judicial proceedings, received lengthy prison sentences. The Revenue Commissioners described the seizure as "unprecedented" and a significant deterrent to transnational organised crime.

Although the criminal proceedings have concluded, the disposal of the Matthew was long delayed by legal and practical obstacles. As the vessel was required to be retained as key evidence, the disposal process was not authorised until December 2024. Throughout this period, the Revenue Commissioners were legally obliged to bear the costs of routine maintenance, mooring, and security supervision of the vessel. Further complicating matters, with no party coming forward to claim ownership, the Revenue Commissioners had to complete cumbersome ownership verification and registration procedures with the Ship Registry of the Panama Maritime Authority, while also satisfying multiple international regulatory requirements arising from the vessel's particular background. By the time of sale, cumulative storage and maintenance costs had reached approximately €17 million.

Having completed all legal formalities, the Revenue Commissioners ultimately reached an agreement with an international shipping company under which the latter acquired the Matthew for the symbolic price of US$1 and undertook to tow the vessel—which has no power of its own and will be pulled by a tug—from the Port of Cork to the port of Varna, Bulgaria, under a single-voyage exemption permit. A spokesperson for the Revenue Commissioners noted that disposing of the vessel at least prevents the state from continuing to incur substantial ongoing maintenance expenses.