Luxury cruise ship stranded in Cambodia due to soaring fuel costs

More than 200 passengers, mostly Americans, are stranded in Cambodia after the operator of a luxury U.S. cruise ship ended its continuous around-the-world voyage due to skyrocketing fuel costs, CBS News reported.

Villa Vie Residences, the Florida-based company operating the MV Odyssey, said the war with Iran caused fuel prices to quadruple, forcing the suspension of operations. Before the conflict, the company paid around $700 per ton of fuel; now it pays between $2,000 and $3,000 per ton, according to CEO Mikael Petterson.

The Odyssey consumes between 700 and 800 tons of fuel monthly, leading to per cabin fuel costs rising from $1,800 to between $6,000 and $8,000 per month. The company chose not to pass these costs onto passengers.

The cruise launched in October 2024 with passengers purchasing permanent cabins and a 15-year residency guarantee. Some passengers sold their homes to join the voyage. Attempts to reduce fuel costs by slowing the itinerary and extending port stays were insufficient.

Villa Vie Residences has exhausted its funds while seeking financial partners and plans to file for Chapter 11 bankruptcy, the CEO said.

The situation leaves passengers stranded as the company navigates its financial challenges and legal proceedings.