The MV Odyssey set sail two years ago on a voyage to the seven continents marketed as combining long-term living at sea with global travel. Its operator had offered to "make the Odyssey your permanent home," with the purchase price of a suite for the lifetime of the vessel starting around $US230,000 ($A326,556).
For now, it is docked at the Cambodian port of Sihanoukville with no certain departure date.
The ship has been carrying 203 passengers, mostly Americans, along with 156 crew members, according to Cambodian officials. It has a 650-passenger capacity.
Its Florida-based operator, Villa Vie Residences, said monthly fuel expenses per cabin that historically averaged $US1800 have reached an estimated $US6000 to $8000 in parts of Asia due to the war in Iran.
The company said it sought to reduce fuel consumption by slowing the itinerary and spending more time in port, but was unable to offset the surging costs.
"We have been unable to continue carrying the resulting operating losses," Villa Vie Residences said in a statement issued.
"Passing the full increase on to residents is not a realistic solution. Our focus now is on supporting residents, crew, and employees" while it tries to restructure.
"The company is working with residents to coordinate disembarkation and identify temporary living arrangements," it said.
Passengers, however, said they received no support and had to make their own arrangements after being given seven hours notice to disembark.
Some were devastated and expressed hope a new company could rescue the venture so life at sea can continue.
Paul and Lynn Montoya, a retired couple from Wyoming, said they bought a window cabin and had expected to sail for years. They boarded the ship 17 months ago in Panama.
Paul praised the concept of residential cruising but said the shipowner lacked the expertise to make the business financially sustainable.
While rising fuel costs had been cited publicly as the reason for the suspension, he said the company had already been struggling.
Changes to itinerary, unreliable internet access and declining food quality had pushed many residents to leave the ship in recent months, he said.
Lynn said residents were repeatedly asked to contribute additional money for fuel and other expenses, including a fresh call to raise funds for fuel to get out of Cambodia.
She said the crew members were also not paid.
"We were tired of every two to four weeks being asked for money for fuel, money for everything," she said. "We had hopes but they just kept sinking further and further into the hole through mismanagement."
The company could not immediately be contacted for comment.
The cruise began in October 2024 in Belfast, Northern Ireland, where the ship had been refitted.
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