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A luxury cruise around the world has abruptly stopped, stranding passengers in Cambodia, as its operator blamed skyrocketing fuel costs.
The Villa Vie Odyssey, a luxury vessel with rooms costing up to $11,000 a month, will disembark passengers and crew and find temporary accommodation, per a Tuesday online release.
The vessel can carry up to 650 passengers, according to its U.S.-based operator Villa Vie Residences, and has been on a continuous voyage around the world for two years since it departed Belfast, Northern Ireland.
Its amenities include a fitness center and spa, a business center, three restaurants, five bars and lounges and complimentary alcoholic beverages.
The cruise drew international attention as it was marketed as a residential cruise offering a permanent home at sea while visiting hundreds of destinations.
The ship was due to arrive at Phu Quoc, a Vietnamese island, later this week, and from there travel to destinations including India, South Africa, Brazil and Australia, before docking in Gibraltar in August 2030.
"Extraordinary increases" in fuel costs meant the company would need to restructure and recapitalize its business over the next 60 days, Villa Vie Residences said in an online statement. "No outcome is assured," it added.
The company said monthly fuel costs per cabin had risen from $1,800 to as much as $8,000 in parts of Asia, which represents a 344% rise, according to CNBC's calculations.
"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," the statement said.
It added that, since the Iran war began on Feb. 28, "we have taken significant steps to reduce fuel consumption, including slowing the itinerary and spending more time in port."
"Those measures have not been enough to offset the extraordinary increase in fuel costs," the company added.
- CNBC's Celia Fernandez contributed to this report.