My TA has checked with Oceania and they told us to ignore the details on the first cancellation email.
The two options are:
(A) Rebook to 24th Oct with same category and same price, plus USD 250 per cabin OBC.
(B) Cancel and refund, plus receive 10% FCC (book before 11th May 2023, sail before 11th May 2024). Then you can use the FCC to rebook other voyages later.
If you choose (A) but your category is on waitlist, I hope they will arrange to upgrade you.
This was the option given to us and my 2 friends. We opted to cancel and go on a Princess cruise in November . Now trying to get the money back that I paid for 3 nights in Venice. No refunds . Offered cruise does not go to Trieste or Venice. Thankfully , I did not do air yet.