The MV Matthew, the ship at the centre of the largest seizure of cocaine in the country's history, is to remain tied up in Cork Harbour until arrangements for its disposal have been completed.
In a statement, Revenue said an Order of Disposal for the vessel, which has been in State's custody since September 2023, was granted in December last year and arrangements are being put in place for its disposal.
"The disposal process is expected to take a number of months to complete and the vessel will remain under the care and management of Revenue in the interim," Revenue said.
Earlier this month, two men pleaded guilty one week into their Special Criminal Court trial.
Iranian Saeid Hassani and Pilipino Harold Estoesta had initially pleaded not guilty to a charge that between 24 and 26 September 2023 at a location outside the State, on board the MV Matthew, they had 2.2 tonnes of cocaine worth an estimated €157 million, for sale or supply in contravention of the Misuse of Drugs Act.
They were the last of a group of eight defendants charged in relation to the seizure to plead guilty, with six co-accused entering guilty pleas before their trial.
Sentencing of all eight is due to take place on 7 April.
Last December, a court heard that the State paid €5.3 million, almost €100,000 every week, to maintain the 190m long and 32m wide ship between September 2023 and October 2024.
