The Government has, since 2023, spent almost €14 million of taxpayers’ money to keep a ship tied up in the Port of Cork.
The MV Matthew was boarded off the Cork coast in September 2023, when cocaine worth €157 million was seized.
Eight crew members were subsequently jailed, receiving sentences totalling 129 years. However, the ship remains in Cork, continuing to cost taxpayers millions of euro.
Figures supplied to All About Cork show that Revenue has spent just under €14.5 million on keeping the ship berthed and crewed.
Payments made by the Revenue Commissioners in respect of the maintenance and management of the MV Matthew from September 2023 to the end of February 2026:
Berthing: €3,527,109
Includes all costs associated with berthing, unberthing, and movement of the vessel.
Maintenance: €6,009,348
Includes all costs (other than berthing or crewing) of maintaining the ship while docked in port, such as ship’s stores and provisions, fuel (bunkering), waste removal, miscellaneous repairs and maintenance, agent and professional fees, insurance, etc.
Crewing: €4,870,140
Total: €14,406,597
In a statement Revenue said:
“It can confirm that H. Clarkson & Co. has been engaged to provide shipbroking services.
Revenue is currently engaging with prospective purchasers to advance the disposal of the MV Matthew; however, it is not possible at this stage to provide a definitive timeline.”
Previously, Revenue said it could not rule out the cost of keeping the ship in the Port of Cork rising to €20 million.
It is thought the bulk carrier could be worth as little as €10 million.
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