Hundreds of people living permanently aboard the Villa Vie Odyssey have been forced to disembark in Cambodia after soaring fuel costs linked to the Iran war made the cruise ship’s operations financially unsustainable.
The Villa Vie Odyssey had been cruising around the world for more than 755 days, offering passengers the chance to rent or buy long-term and permanent residences on board.
The ship's owner said on Tuesday that it was suspending operations and disembarking the passengers in Cambodia while working to find them temporary accommodation.
The company said monthly fuel costs, which had previously averaged about $1,800 per cabin, had climbed to between $6,000 and $8,000 in parts of Asia.
“The company cannot simply pass increases of that scale on to residents, and the resulting shortfall has placed its current operating model under unsustainable financial pressure.”
The ship can accommodate up to 650 people. At the time of the suspension, 203 passengers and 156 crew members were on board, according to Long Dimanche, deputy governor of Preah Sihanouk Province.
Some passengers had already left Cambodia by air, while others remained in the port city of Sihanoukville.
The ship is expected to refuel before departing Cambodia on Saturday, he added.
Randy Cassingham, who lived on the Odyssey with his wife and who writes about his lifestyle on ResidentialCruising.com, said that Florida-based CEO Kathy Villaba posted a message shortly after 7 am in Cambodia telling residents they had until 2 pm to leave the vessel.
“It was a cascade of problems piling up on one another, from the business model to mistakes by management to the mentioned crisis in fuel cost and availability, and more,” he said.
Social media videos posted by residents showed mixed reactions. Some expressed disappointment and uncertainty, while others said they planned to use the extra time to explore Southeast Asia.
Villa Vie Residences said it had already taken steps to reduce fuel consumption since the Iran war began in late February, including slowing the ship’s itinerary and spending more time in port.
However, those measures were not enough to offset the surge in fuel prices.
“We have been unable to continue carrying the resulting operating losses,” the company said.
It added that it would seek to restructure and recapitalise over the next 60 days, although no financing has yet been finalised.
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