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Dublin: 7°C Wednesday 21 April 2021

'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.

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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