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Displaying items by tag: Sold Price Difference

A former patrol vessel of the Irish Naval Service, LÉ Aisling, was sold to one of the participants in the civil war in Libya last year in breach of a UN arms embargo, the UN Security Council has been told.

According to The Irish Times, the embargo was breached by a company in the United Arab Emirates (UAE), about a year after the decommissioned vessel (see towage story) was sold by the State to a Dutch shipping broker according to a UN report.

The State sold the offshore patrol vessel for €110,000 to the Dutch company (which Afloat adds led to criticism of the price fetched). The Dutch company sold it a year later, for $525,000 (€473,000), to the company in the UAE, which almost immediately sold it to a company in Libya for $1.5 million (€1.3 million). 

The details of what happened to the former Irish naval vessel are set out in a report just filed by the Expert Panel on Libya to the UN Security Council.

A spokeswoman for the Department of Defence said it had no “trailing obligations” in relation to the vessel, and that the resale of the ship was a matter for its purchaser.

Click here for more on this story on the final INS 'Emer' class patrol vessel which was commissioned into service in 1980. 

Published in Navy

North Sails Ireland is operated by Loft Manager and One Design Expert Nigel Young at his Cork Harbour base at Myrtleville. The company specialities include Bend on / Bend off, Canvas, Certified Service, Sail Hardware Upgrades, Sail Inspection / Evaluation, Sail Measurement, Sail Repair, Sail Storage and Sail Washing. Working with Nigel are Maurice O'Connell, Shane Hughes and Richard Marshall.