Cruise founder admits financial collapse led to passenger abandonment

Mikael Petterson, founder of Villa Vie Residences, acknowledged that financial difficulties led to the abandonment of hundreds of passengers in Cambodia. He stated that the company is working to find solutions for those affected.

The MV Odyssey cruise, which promised passengers a permanent lifestyle on a 642-foot vessel, faced multiple setbacks from the start. Mechanical issues delayed its launch by nearly five months, and initial complaints about cabin quality followed its October 2024 departure.

The financial situation worsened when the US and Israel launched a war against Iran in February 2024, causing fuel prices to skyrocket. Villa Vie Residences reported that per cabin fuel costs increased from an average of $1,800 per month to between $6,000 and $8,000.

Unable to sustain operations, the company shut down on Tuesday, forcing passengers to disembark in Sihanoukville, Cambodia. Despite being promised a 15-year residency guarantee, passengers were required to leave the vessel.

Randy Cassingham, a passenger with cancer, described the difficulty of leaving the ship. He relied on the vessel for rest and recovery during his treatment, making the evacuation particularly challenging for him.

Pamela Reckamp, who rented a cabin with her husband, noted the financial strain on the company. She recalled a meeting where officials asked owners to raise $1 million to avoid a complete shutdown, with the ship’s systems expected to fail within days if the funds were not secured.