Adam Polemis has become the third owner in just a couple of weeks to scrap a capesize bulker.

His New Shipping has sent the 170,000-dwt New Katerina (built 1997) for scrap in Pakistan, sources say.

A price of $310 per ldt is being placed on the sale, valuing it at $6.33m for the shipowner.

Polemis bought the cape in 2009 for $27m prior to New Shipping being separated from Polembros Shipping.