Fuel costs jump from $1,800 to $8,000: Cruise ship residents forced ashore in Cambodia
Cruise ship Villa Vie Odyssey had to disembark its passengers in Cambodia due to soaring fuel expenses. The ship had operated for over two years, accommodating long-term residents on board. As fuel costs increased significantly, the company announced the suspension of operations. Passengers were provided with temporary accommodation while some already departed for their destinations. The ship is…
Cruise ship residents were evacuated from the Villa Vie Odyssey in Cambodia due to soaring fuel costs, a direct result of the Iran war. The ship's operator, Villa Vie Residences, suspended operations and embarked on plans to arrange temporary accommodation for the passengers and crew. The monthly fuel expenses for a cabin, which had averaged $1,800 previously, have surged to between $6,000 and $8,000 in parts of Asia, the company explained.
This unmanageable increase in fuel costs has put immense financial pressure on the company's operating model. As of now, the ship was carrying 203 passengers and 156 crew members. The vessel, which has been sailing across the globe for over 755 days, offers accommodation options, including an inside villa priced at $120,000 and villa suites at $440,000.
Despite making efforts to reduce fuel consumption, the company found these measures inadequate to counterbalance the "extraordinary" hike in fuel costs. Villa Vie Residences aims to restructure and recapitalise within the next 60 days, but no financing has been finalized yet.
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