The MV Matthew, impounded in Ireland since a record cocaine seizure in 2023, departed Cork Harbour on Saturday bound for Bulgaria after being sold for one dollar.
The State spent approximately €16.8 million maintaining the freighter since authorities seized 2.2 tonnes of cocaine with an estimated street value of €157 million aboard the vessel on 26 September 2023. Eight men received a combined 129 years in prison for their roles in the smuggling operation, with sentences handed down at the Central Criminal Court in July 2025 ranging from 13.5 to 20 years.
The ship is being towed to Varna for conversion into a bulk grain carrier on the Black Sea.