Diana Shipping is keeping its purse strings tight during these uncertain times, having returned to loss amid hefty impairments.

The Semiramis Paliou-led owner of 41 bulkers on Thursday reported a $104m loss for the first quarter that included a $93.1m impairment charge on nine vessels.

That compared to a $1.53m profit during the same period of last year that accounted for a $4.8m