More than 200 people who bought into a "never-ending" cruise have been left stranded in Cambodia after the operator of the residential ship Villa Vie Odyssey suspended its round-the-world voyage, blaming fuel costs driven up by the war in Iran.

A floating home that ran out of fuel money

The ship arrived at Sihanoukville from Thailand on 23 October carrying 203 passengers and 156 crew members, according to the deputy governor of Preah Sihanouk province. On Tuesday 27 October, residents were told in the morning that they had until 2 p.m. to pack and leave the vessel — about seven hours' notice.

What happens next for residents

Villa Vie Residences sold cabins as long-term or permanent homes at sea, with advertised purchase prices from about $120,000 to $440,000 and monthly fees of roughly $2,000 to $10,000.

The company said monthly fuel costs per cabin had climbed from about $1,800 before the Iran war began in late February to between $6,000 and $8,000 in parts of Asia. Founder Mikael Petterson said fuel had risen from about $700 a tonne to between $2,000 and $3,000 a tonne, with the ship burning 700 to 800 tonnes a month. The firm said it could not pass increases of that size on to residents, and slowing the itinerary and extending port stays had not closed the gap.

Petterson has said the company is considering bankruptcy and has outlined 60 days to restructure and seek new funding, while warning that no outcome is assured. He said Villa Vie is covering accommodation and local transport but not flights out of Cambodia, and it has not announced whether cabin owners will receive refunds or credits.

Petterson has said no outcome is assured for cabin owners seeking refunds or credits.

Sources: SRN News (Reuters), New York Post.