The concept of converting former cruise ships into residences has become increasingly popular, but the experience of those who lived aboard Villa Vie Odyssey, which left Belfast Port two years ago, has shown that it can be financially difficult, with operational success somewhat elusive.
As recently as last month, Villa Vie Residences, the company which has now ordered passengers to leave the ship while docked in Cambodia, was promoting the acquisition of a second cruise ship.
Odyssey passed the two-year mark since its planned inaugural voyage earlier this month. The cruise finally got underway in October 2024 after more than four months of delays at Harland & Wolff in Belfast, where refurbishment and mechanical problems kept the vessel alongside. Passengers who had expected to depart in May were left waiting in the city until the ship finally sailed from Belfast Lough on 3 October.
The company has blamed soaring fuel costs for the suspension of the cruise and indicated that the ship would enter what it described as a “warm lay-up” in Cambodia, with crew remaining aboard to maintain essential systems.
Villa Vie Residences says monthly fuel costs, calculated per cabin, have risen from approximately $1,800 to between $6,000 and $8,000 in parts of Asia.
Restructuring and recapitalisation are now being examined by the company, which has also referred to identifying “temporary living arrangements” for passengers obliged to leave the ship. The company said in a statement that no financing arrangement had yet been finalised.
MS The World remains the only purpose-built cruise ship to have sustained operations in what can be termed the residential cruise sector, following the suspension of the voyage promoted to Odyssey residents as an “endless cruise”.
The World was launched in 2002 and is described in its publicity as the planet's largest private residential yacht, at 644 feet (196 metres). The vessel operates much like a floating condominium complex and is managed by ROW Management Ltd, headquartered in Fort Lauderdale, Florida, USA.
