'Endless Cruise' Stymied by Fuel Costs

A ship that promised life at sea without end just ran into a financial wall in Cambodia, reports Business Insider. Villa Vie Residences has halted operations of its residential cruise ship, the Villa Vie Odyssey, and asked passengers to disembark as it tries to straighten out its finances. The company cited soaring fuel costs that have pushed monthly fuel expenses per cabin from about $1,800 to as high as $8,000. However, Cruise Industry News reports that fuel costs were just part of the issue, citing one resident's online post.

"It was a cascade of problems piling up on one another, from the business model to mistakes by management to the mentioned crisis in fuel cost and availability, and more," wrote Randy Cassingham at ResidentialCruising.com. The company sold permanent cabins for up to $439,999 and five-year stays starting at $59,999, all while the ship traveled to ports around the world on a continuous journey. CIN reports that the company asked passengers for six-figure additional payments before making the call to at least temporarily ground the ship. Villa Vie says it is helping its passengers line up lodging on land.