A rare VLCC demolition deal has been thwarted for now due to the difficulty of the Bangladesh recycling yard securing financing.

Brokers had reported the 300,000-dwt Rowan (built 2001) destined for Sitakunda breakers this month for a price in the mid to upper $590s per ldt.

But this deal appears to have fallen through and the tanker remained unsold.

The ship, worth $25m for scrap, was sold by China’s Kunlun Shipping as the Latin Venture to cash buyer GMS In January for an unknown price.