Dáil Éireann Debate, Tuesday - 17 June 2025
268. Deputy Séamus McGrath asked the Minister for Finance the cost of storing and maintaining the MV Matthew ship since it was first seized by the State; the weekly amount it is costing to store and maintain the ship; the reason the sales process is taking so long; and if he will engage with the Revenue Commissioners as a matter of urgency. [31941/25]
View answerI am advised by Revenue that on 2 December 2024, the Special Criminal Court authorised the release of the MV Matthew, thereby facilitating its disposal. It was not possible to commence the disposal process prior to this date.
I have been further advised by Revenue that it was necessary to retain a globally recognised provider of integrated shipping services with an international breadth of expertise, not just in ship broking but also in finance, research, compliance and all aspects of international shipping. A broker was engaged in December 2024.
The bidding process concluded in Q1 2025 and a preferred bidder was identified. There are a significant number of regulatory obligations which must be fulfilled in order to finalise the disposal of the MV Matthew and to facilitate the removal of the vessel from Cork Harbour. 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:
Cargo Ship Safety Construction
Cargo Ship Safety Radio
International Oil Pollution Prevention
Load Line
International Air Pollution Prevention
Cargo Ship Safety Equipment
International Energy Efficiency
International Anti-Fouling System
International Sewage Pollution Prevention
International Tonnage
Document of Compliance Dangerous Goods
International Ballast Water Management
Maritime Labour
Bunker Oil Pollution Damage Insurance
Minimum Safe Manning Document
Safety Management
International Ship Security
Continuous Synopsis Record
Copy of Operating Company’s Document of Compliance (International Safety Management Code)
Statement of Compliance and associated Inventory of Hazardous Materials - Ship Recycling Regulation
Insurance of Ship Owners (Directive 2009/20/EC)
Nairobi International Convention on the Removal of Wreck.
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.
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.
The table below outlines the total payments made in respect of the MV Matthew from September 2023 to end May 2025:
|
Payments made by the Revenue Commissioners in respect of maintenance and management of MV Matthew from September 2023 to end May 2025 |
€ |
|
Berthing (includes all costs associated with berthing, unberthing and movement of the vessel) |
2,073,611 |
|
Maintenance (includes all costs, other than berthing or crewing, of maintaining the ship alongside in Port such as ship’s stores and provisions, bunkering fuel, waste removal, miscellaneous repairs and maintenance, agent and professional fees, insurance, etc.) |
3,604,560 |
|
Crewing |
3,433,336 |
|
TOTAL |
9,111,507 |
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.
