Seized cocaine bulker changes hands for $1

AI Summary

Irish authorities have sold the Panamanian-flagged supramax bulker Matthew for $1 following the country's largest cocaine seizure, after incurring substantial costs to secure and maintain the vessel in Cork. An unnamed international shipping company has taken ownership, and the ship has left the Port of Cork.

Irish authorities have sold the ship at the centre of the country’s largest cocaine seizure for a token $1 after spending around €17m ($19.4m) securing and maintaining the vessel in Cork. An unnamed international shipping company has taken over the 2001-built supramax bulker Matthew. The 50,913 dwt Panama-flagged ship has left the Port of Cork …