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'It's embarrassing': LÉ Aisling sold by State for €110k - it's now on the market for nearly €700k

It’s being sold by the Dutch ship broker who bought it earlier this year.
May 15th 2017, 2:16 PM 77,920 191

THE DEPARTMENT OF Defence has been accused of an “embarrassing” blunder by selling off the LÉ Aisling for a fraction of the price the State could have received for the Navy vessel.

The ship was sold at auction in Cork for €110,000 earlier this year. It has been put on sale for a starting price of $750,000 (€683,000) by the private seller.

The advertisement states: “Vessel just decommissioned from Naval service and in very good condition. Price will go up as owners will spend money on further improvements. Better be quick… Location: Rotterdam.”

It was put on sale last week.

Sinn Féín’s defence spokesman Aengus Ó Snodaigh said the news comes as an embarrassment for the Department of Defence.

Speaking to TheJournal.ie, Ó Snodaigh said: “It’s embarrassing that they didn’t do their homework on this. It’s crazy, really. It represents a significant loss to the State. Whoever is valuing the vessel obviously didn’t do their job right.

For a private buyer to be able to come in and flip it for at least six times its value in the space of a few weeks is just madness.

LE AISLING Source: Unlimited Offshore

The vessel was decommissioned three years ago and had clocked up over 650,000 nautical miles during its years on the seas.

The LE Emer was sold for €320,000 in 2013. The difference in prices is being attributed to a collapse in the market.

TheJournal.ie has contacted the Department of Defence for comment.

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