Stranded Round-the-World Cruise Ship Seized in Singapore after Operator's Financial Collapse
The Odyssey, a vessel intended for a years-long global voyage, has been seized by authorities in Singapore following the collapse of its US-based operator, Villa Vie Residences.
By Global Focus Wire Desk
The Odyssey, a vessel intended for a years-long global voyage, has been seized by authorities in Singapore following the collapse of its US-based operator, Villa Vie Residences. Launched from Belfast in October 2024, the ship left over 200 passengers stranded in Cambodia last month after the company abruptly halted operations due to escalating fuel costs. The vessel is currently anchored in Singapore's port waters, with crew members reportedly in good health. The seizure was carried out under a court order and Singapore law firm Helmsman LLC has been appointed as the 'arresting solicitor', though the party they represent remains unclear. The Odyssey, initially planned for a 3.5-year voyage spanning 150 countries, offered passengers various options including permanent residency in cabins priced between $120,000 and $440,000. However, the cruise was plagued with issues from its outset, including four-month delays due to repairs and paperwork, crew members purchasing food from local stores due to unpaid vendor bills, and a fuel surcharge being requested from passengers as prices soared. The company warned of financial troubles in August and had to raise funds from guests to keep the cruise afloat. As fuel costs surged earlier this year, monthly fuel expenses per cabin in parts of Asia rose to as much as $8,000 from $1,800, straining the operator's resources. The company is currently working with residents to find temporary living arrangements while in Cambodia.
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