Special Navy forces discovered weapons and ammunition on a cargo ship overnight Tuesday, after boarding the Francop some 100 nautical miles west of Israel flying an Antiguan flag.
Defense officials said the 140-meter long Francop, captured near Cyprus, was carrying arms sent by Iran and destined for Syria and Hizbullah.
More than 60 tons of weaponry were on board, in dozens of containers. The Francop carried hundreds of containers.
A significant amount of 122 mm. Katyusha rockets, likely made in Iran, assault rifles, mortar shells and grenades were found on board.
Israel Radio reported that advanced anti-aircraft platforms not before found in the region were also on board.
The elite Navy Commando unit Shayetet 13 soldiers, who didn't encounter resistance on board, found the weapons and ammunition cache hidden behind what appeared to be a civilian cargo.
According to the officials, the vessel carried advanced weaponry including missiles, and the incident was apparently similar in scope to the seizing of the Karine A ship intercepted in January 2002 off the coast of Gaza. That boat carried some 50 tons of military equipment including Katyusha rockets, antitank missiles, and high explosives.
The Francop is currently docked in the Ashdod port, and being unloaded for further inspection.
Defense Minister Ehud Barak commended IDF Chief of General Staff Lt. Gen. Gabi Ashkenazi and Navy Commander Vice-Admiral Eliezer Marom.
"This is another success in the incessant battle against the smuggling of arms and military buildup by terrorist organizations who threaten Israel's security," he said.
The takeover of the ship was planned well in advance of the operation based on intelligence reports, and the Navy has been following the ship's movements since it began its journey.
On Wednesday, the cabinet convened and the capture of the Francop was high on the agenda.
Prime Minister Binyamin Netanyahu praised the action of the Navy and said the weapons on the ship were meant to be used against Israeli cities.
A month ago, Der Spiegel reported that the US Navy had boarded a German cargo ship near the Suez Canal that was carrying ammunition from Iran to Syria or Hizbullah.
In the past year, the Navy intercepted several vessels suspected of illicitly carrying munitions intended for Israel's enemies.
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