Villa Vie Residences has suspended operations in Cambodia and placed Villa Vie Odyssey in a temporary layup. The company is working to address fuel cost increases and evaluates restructuring and recapitalisation alternatives. Residents disembarked in Cambodia while crew remained onboard to maintain the vessel and essential systems.
Monthly fuel expense per cabin averaged approximately €1,660 and recently reached an estimated €5,530 to €7,370 in parts of Asia. The company requested an additional €332,000 for fuel costs. In April, it sought €2.8m through an Emergency Loan Investment Opportunity with interest rates of 12pc to 24pc.
Villa Vie launched service in September 2024 with the former Braemar acquired from Fred. Olsen Cruise Lines. The 1993-built ship was refurbished in Belfast before its residential cruising debut. The company has 60 days for restructuring and recapitalisation work.
