Villa Vie suspends Cambodia cruise operations as fuel costs rise by up to 344%

Villa Vie Residences on Tuesday (27 October) announced that it has suspended operations in Cambodia as the company works to address extraordinary increases in fuel costs and evaluate restructuring and recapitalisation alternatives.

Fuel costs have risen sharply in the regions where the company has been operating.

“On an equivalent per-cabin basis, monthly fuel expense that historically averaged approximately $1,800 has recently reached an estimated $6,000 to $8,000 in parts of Asia. The company cannot simply pass increases of that scale on to residents, and the resulting shortfall has placed its current operating model under unsustainable financial pressure,” it said in a statement.

According to a Reuters report, hundreds of people permanently living aboard a touring cruise ship, Villa Vie Odyssey, were forced to disembark in Cambodia this week following Villa Vie Residences suspending its operations in Cambodia.

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