Creditor has “taken control” of forever cruise, message to residents shows

November 1, 2026 / 2:42 PM EST / CBS News

Residents of Villa Vie Odyssey — which remains stuck in Cambodia — have been informed the cruise ship is now under control of its lender, according to a message sent to residents and obtained by CBS News.

The ship will soon be moved from Cambodia to Singapore, where it could eventually be auctioned off, according to multiple sources familiar with the matter. Company leadership, however, said they're optimistic they can get the ship back — if they find an operational partner.

"This is a 30- to 90-day process, and, during that process, we have time to get a restructure done," Mike Petterson, the company's founder and executive chairman, told CBS News.

Passengers had only the weekend to remove all of their belongings from the ship before it became inaccessible to them, as the lender took over the operational costs of the ship.

"They have now the responsibility to pay the crew, fuel and the operations of the vessel and safekeeping of the vessel," Petterson said, stressing that they're exploring options to keep the ship going. "They would be willing to work with a funded plan — they're not out of…

Original source: https://www.cbsnews.com/entertainment/