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
Source: Fortune ·
Fuel for each cabin rose from $1,800 to as much as $8,000 a month, and founder Mikael Petterson says the Iran war broke the business.
From the source
The Villa Vie Odyssey, a cruise ship advertised as a forever home for more than 200 residents, sailed out of Sihanoukville, Cambodia, on Wednesday with only crew aboard. Its lender has taken possession of the vessel and is now paying for the crew, fuel, and upkeep. Florida-based Villa Vie Residences says fuel did it in. The company said its monthly fuel cost per cabin climbed from $1,800 to between $6,000 and $8,000 after the Iran war sent oil prices soaring, and that passing the full increase on to residents was not realistic. It sold years of life at sea at a set price, and its highest variable cost more than tripled. A Cambodian official put the count at 203 passengers and 156 crew, and most residents were American. The ship is reportedly bound for Singapore, where it could eventually be auctioned. Before it landed on the chopping block, the 642-foot Odyssey was home to people who planned to stay for years. Mechanical problems kept it in Belfast, Northern Ireland, until October…
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