Villa Vie Odyssey suspends cruise amid sharp rise in fuel costs
The luxury residential cruise Villa Vie Odyssey will disembark passengers and crew and seek temporary accommodation after fuel expenses surged, prompting a restructuring plan.
The Villa Vie Odyssey, a luxury cruise vessel that has been on a continuous world voyage for two years, announced it will disembark all passengers and crew in Cambodia and arrange temporary lodging. The ship, operated by Villa Vie Residences, can accommodate up to 650 guests and offers amenities such as a fitness center, spa, business center, multiple restaurants, bars and complimentary alcoholic drinks.
In an online statement, the company said that fuel costs per cabin have risen from about $1,800 to as much as $8,000 in parts of Asia, a 344% increase, forcing a restructuring and recapitalisation effort over the next 60 days. > "Extraordinary increases" in fuel costs have placed the current operating model under unsustainable financial pressure, the statement added, noting that the company cannot simply pass such increases on to residents.
The operator said it has taken steps to reduce fuel consumption, including slowing the itinerary and spending more time in port since the conflict that began on Feb. 28, but those measures have not offset the higher expenses. The vessel was scheduled to continue to Phu Quoc, Vietnam, and then to destinations in India, South Africa, Brazil and Australia before docking in Gibraltar in August 2030.