Permanent cruise ship suspends operations in Cambodia as fuel costs soar

Villa Vie Residences, which markets permanent and five-year cabins on its cruise-ship community Villa Vie Odyssey, said it has suspended operations in Cambodia because fuel costs per cabin have surged from roughly $1,800 to between $6,000 and $8,000. The spike follows the February outbreak of the US-Israel war with Iran and Iran’s shutdown of the Strait of Hormuz, driving global energy prices upward. The firm attempted to curb consumption by slowing the ship’s schedule and extending port stays, but these steps failed to offset the extraordinary expense.

Residents who purchased cabins ranging from $119,999 to $439,999 are being assisted with disembarkation and temporary housing, while the company evaluates restructuring and recapitalisation over the next 60 days. No definitive financing or sale has been confirmed, and the future of the Odyssey remains uncertain.