A residential cruise ship told residents to disembark in Cambodia. The operator blamed soaring Iran war fuel costs.
A residential cruise ship that has sailed around the world continuously for more than two years has told its residents to disembark in Cambodia after fuel prices made the voyage unaffordable.
Villa Vie Residences, the Florida-based operator of the Villa Vie Odyssey, announced Tuesday that it was suspending operations in Cambodia and working to identify temporary living arrangements for residents, many of whom own cabins and live aboard permanently. CEO Kathy Villalba told residents the company was unable to secure the fuel needed to continue, according to a notice reported by trade media. The ship was in Sihanoukville, Cambodia.
The company blamed the fallout of the Iran war, saying fuel costs had risen higher and faster than it had anticipated, especially in Asia. It said it slowed the itinerary and spent more time in port after the conflict began in late February, but that the costs created unsustainable financial pressure. Villa Vie said monthly fuel costs per cabin, historically around $1,800, rose to as much as $8,000, and that passing the full increase on to residents was not realistic, Futurism reported. Cruise Industry News reported that the company had sought financial contributions from residents, including a request for $360,000 to cover fuel.
A five-year residency aboard starts at $59,999, and a permanent cabin costs $119,999, according to the company’s website. Many residents sold their homes to move aboard. Villa Vie said it is evaluating financing and restructuring options. No transaction has been finalized, and there is no confirmed date for resuming operations. A 60-day period cited by the company is a target for its efforts, not a confirmed return date. The 195-meter ship, formerly Fred. Olsen’s Braemar, began its continuous voyage in October 2024 after months of repairs in Belfast.
Information for this report was provided by CNN, gCaptain, Yahoo Travel and Futurism.