The Florida-based company, Villa Vie Residences, which offers permanent luxury cruise residency, announced on Wednesday that it has suspended its 3.5-year long world voyage. Over 200 residents on the Villa Vie Odyssey are currently stranded in Cambodia after being asked to disembark the ship.
The ship arrived in Cambodia on October 23. Originally planned as a five-day stop before continuing to Vietnam, the short break elongated into a permanent halt after the operator cited rising fuel costs. The company is now navigating the financial crisis, though it has warned that the outcome might not be favourable.
A press statement from Villa Vie Residences explained that the ship’s operations were suspended in Sihanoukville after its recent monthly fuel expenses exceeded its estimate.
Fuel costs historically averaged approximately $1,800 per cabin but had recently skyrocketed to an estimated $6,000 to $8,000 in parts of Asia. Though the company tried slowing the ship and spending more time in port, the efforts were not enough to offset the rising cost of fuel. The company said the financial pressure is unsustainable and that it cannot pass these mounting costs on to residents.
"Since the conflict began in late February, we have taken significant steps to reduce fuel consumption, including slowing the itinerary and spending more time in port. Those measures have not been enough to offset the extraordinary increase in fuel costs, and we have been unable to continue carrying the resulting operating losses. Passing the full increase on to residents is not a realistic solution,” the company’s statement read.
The concept of the cruise was to live at sea and purchase permanent residency. Cabin prices could range from $1,20,000 to $4,40,000. Villa Vie is working with residents to coordinate and identify temporary living arrangements in Cambodia.
The ship had set off on the wrong foot, with an initial four-month delay as it underwent repairs in Ireland. It finally kicked off its journey in October 2024 from Belfast. Despite having the capacity for 650 residents, it was carrying only 203 when it halted.
