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    Panama-registered ship sold for $1 after seizure

    1 week ago

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    The MV Matthew, a bulk carrier seized in Ireland, was sold for $1 after incurring nearly €17 million in storage and maintenance costs. It was linked to Ireland's largest drug haul, with 2.2 tonnes of cocaine confiscated. Six crew members were arrested. The ship's removal is complicated by legal obligations and cannot be disposed of until December 2024.
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