Customs officers and the police seized contraband cigarettes and spirits from a small ship at the Freeport late on Thursday evening.
Spokesmen for both the Customs and the police said no duty had been paid on the goods.
The Customs Department said its officers and members of the police Economic Crime Squad acted on information and decided to conduct an intensive search on a small tanker moored at the Freeport.
The search yielded 18 boxes containing 190,200 cigarettes of two different brands. The officers also found 19 bottles of Vodka on which no duty had been paid. The foreign captain of the tanker was held by the police for questioning while the cigarettes and spirits were confiscated.
Investigations continue.