StealthGas has gone back into the red for the first three months of this year, despite slightly better revenue and lower costs from a year earlier.

The Athens-based LPG carrier owner posted net loss of $5.8m for the first quarter, versus $2m in earnings during the same period last year.

The results were driven by a $3.8m impairment hit on three vessels, one of which has been classified as for sale, according to the company's earnings report.