A cruise ship sold as a forever home left 203 residents in Cambodia as Iran war fuel costs hit up to $8,000 a cabin

The Villa Vie Odyssey, a cruise ship marketed as a forever home for over 200 residents, departed from Sihanoukville, Cambodia, with only its crew aboard on Wednesday. Its lender has taken possession of the vessel and is now responsible for crew, fuel, and upkeep costs. Florida-based Villa Vie Residences attributes the ship's financial downfall to rising fuel costs.

The company revealed that monthly fuel expenses per cabin soared from $1,800 to between $6,000 and $8,000 following the Iran war's surge in oil prices, making it impractical to pass the full increase onto residents. The ship was originally designed for a four-year stay costing $319,998 for two people sharing a cabin, with prices ranging from $99,000 for a single cabin to $499,999 for a double.

Villa Vie Residences reported that the ship had sold 85% of its residences, but on October 27, residents were given about eight hours to vacate the ship. The vessel is currently headed toward Singapore, where it may eventually be auctioned. Founder Mikael Petterson acknowledged responsibility, claiming the Iran war is what caused the business's failure.

He stated that if the war hadn't occurred, the company would have continued as planned. Energy prices have skyrocketed due to the Iran war, with Brent crude prices rising from around $70 a barrel to over $100, leading to an additional $160 billion in gasoline and diesel costs for U.S. consumers from March to October.