<\/p>\n
Passengers on a luxury residential ship touring the world were unexpectedly stranded in Cambodia after the cruise company suspended operations, citing \u201cextraordinary increases\u201d in fuel costs.<\/p>\n
Villa Vie Residences is now \u201cworking with residents to coordinate disembarkation and identify temporary living arrangements,\u201d it said in a\u00a0statement\u00a0on Tuesday.<\/p>\n
While the company is covering lodging and local transportation, it hasn\u2019t provided funding for passengers to depart Cambodia, where the 650-passenger Odyssey is now moored, Villa Vie founder Mikael Petterson said during a telephone interview. About 200 residents were on board when the company was forced to ask them to disembark, he said.<\/p>\n
The company\u2019s fuel costs have risen more than 300% since the start of the US-Israel war on Iran, Villa Vie said, with per-cabin fuel costs that had historically averaged about $1 800 a month surging to as much as $8 000.<\/p>\n
The Odyssey, which has been at sea since October 2024, is not like a typical cruise line. The vessel departed Belfast, Northern Ireland, for a \u201ccontinuous\u201d voyage around the world, according to the company\u2019s website, and its passengers either rent, own or rent-to-own cabins on the ship.<\/p>\n
The price of a cabin for permanent residency ranges from just under $130 000 to as much as $440 000 for a suite, with monthly fees of $2 000 to $10 000 dollars, according to a brochure.<\/p>\n
Passengers baulked at a request to pay more to cover fuel costs to depart Cambodia. The company is now proposing an additional $500 a month fee, on top of a surcharge, as long as prices remain elevated, Petterson said, adding monthly operational costs have climbed by about 50% to $3 million.<\/p>\n
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Villa Vie is also seeking financing in order to depart the area \u201cquite quickly,\u201d Petterson said.<\/p>\n<\/p>\n
The cost of fueling planes, cars or ships has surged since the Iran conflict\u00a0spiked the price\u00a0of oil and the products made from it, including diesel, gasoline and jet fuel. Those elevated costs are hitting companies\u2019 bottom lines, feeding into inflation and rippling through the global economy.<\/p>\n
Cruise ships run on the same fuels that keep much of the world\u2019s fleet moving, but marine gasoil, which powers the Odyssey, has been particularly hard hit. Marine gasoil has surged to $1,321 a metric ton in Singapore \u2013 the world\u2019s largest bunkering hub \u2013 almost double what it cost before the Iran war, according to data provider ClearLynx LLC.<\/p>\n<\/p>\n
Odyssey had made stops this year in ports from Tonga to Australia and was due to end in India in 2026. \u201cAs you flip through these pages, envision yourself sailing on a continuous odyssey where every day promises new horizons, cherished memories, and heartfelt connections,\u201d the company wrote in a brochure for prospective residents.<\/p>\n
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Since the Iran war began in late February, the ship has tried to reduce fuel consumption by slowing its itinerary and spending more time in port, but the measures did not offset fuel costs, it said. The company is now evaluating restructuring and recapitalisation alternatives over the next sixty days.<\/p>\n
Villa Vie is far from alone in feeling the brunt of the global fuels crisis. High jet fuel prices helped spell the demise of Spirit Airlines this spring, while Royal Caribbean Cruises Ltd. reported Tuesday that an\u00a0otherwise strong\u00a0quarter was dampened by elevated oil costs.<\/p>\n
\u201cIt\u2019s been abundantly clear for at least two months that cash flow was a significant concern,\u201d said Kelly Kosmin, 57, who travelled on the ship for some segments of the journey before disembarking in Australia in March. She had planned to rejoin the cruise in Sri Lanka early next year.<\/p>\n
\u201cThe concept of affordable residential cruising has never been done until this ship,\u201d Kosmin said. She would be happy to pay the additional $500 a month, as well as the fuel surcharge, to return to the boat.<\/p>\n
\u201cWe all wanted to be pioneers,\u201d she said. \u201cAnd so we are!\u201d<\/p>\n
\u00a9 2026 Bloomberg<\/p>\n
#Cruise #ship #strands #passengers #Cambodia #fuel #surge<\/p>\n","protected":false},"excerpt":{"rendered":"
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