<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2019-06-26</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001596993</issuerCik>
        <issuerName>DORIAN LPG LTD.</issuerName>
        <issuerTradingSymbol>LPG</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001649312</rptOwnerCik>
            <rptOwnerName>BW Group Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MAPLETREE BUSINESS CITY, #18-01;</rptOwnerStreet1>
            <rptOwnerStreet2>10 PASIR PANJANG ROAD</rptOwnerStreet2>
            <rptOwnerCity>SINGAPORE</rptOwnerCity>
            <rptOwnerState>U0</rptOwnerState>
            <rptOwnerZipCode>117438</rptOwnerZipCode>
            <rptOwnerStateDescription>SINGAPORE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001649311</rptOwnerCik>
            <rptOwnerName>BW Euroholdings Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MAPLETREE BUSINESS CITY, #18-01;</rptOwnerStreet1>
            <rptOwnerStreet2>10 PASIR PANJANG ROAD</rptOwnerStreet2>
            <rptOwnerCity>SINGAPORE</rptOwnerCity>
            <rptOwnerState>U0</rptOwnerState>
            <rptOwnerZipCode>117438</rptOwnerZipCode>
            <rptOwnerStateDescription>SINGAPORE</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001373176</rptOwnerCik>
            <rptOwnerName>Sohmen Family Foundation</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>HEILIGKREUZ 6, P O BOX 484</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>VADUZ</rptOwnerCity>
            <rptOwnerState>N2</rptOwnerState>
            <rptOwnerZipCode>FL-9490</rptOwnerZipCode>
            <rptOwnerStateDescription>LIECHTENSTEIN</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>1</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2019-06-26</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>96902</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.7149</value>
                    <footnoteId id="F2"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7729658</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2019-06-27</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness></transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>325615</value>
                    <footnoteId id="F3"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>8.8664</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>7404043</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                    <footnoteId id="F5"/>
                    <footnoteId id="F6"/>
                    <footnoteId id="F7"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnotes</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On June 26, 2019, BW Euroholdings Limited (&quot;Euroholdings&quot;) sold 96,902 shares of common stock, par value $0.01 per share (the &quot;Common Shares&quot;), of Dorian LPG Ltd. (the &quot;Issuer&quot;). Euroholdings is a wholly-owned subsidiary of BW Group Limited (&quot;BW Group&quot;). BW Group is a wholly-owned subsidiary of the Sohmen Family Foundation (the &quot;Foundation&quot;).</footnote>
        <footnote id="F2">The price reported in Column 4 is a weighted average price. These Common Shares were sold in multiple transactions at prices ranging from $8.70 to $8.755, inclusive. The reporting persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes (2) and (4) to this Form 4.</footnote>
        <footnote id="F3">On June 27, 2019, Euroholdings sold 325,615 Common Shares.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price. These Common Shares were sold in multiple transactions at prices ranging from $8.77 to $8.995, inclusive.</footnote>
        <footnote id="F5">BW Group, the Foundation, Euroholdings, BW LPG Limited (&quot;BW LPG&quot;), which BW Group owns approximately 47.6% of as of June 28, 2019, and BW LPG Holding Limited (&quot;LPG Holding&quot;), a wholly-owned subsidiary of BW LPG, may be considered a group within the meaning of Section 13(d)(3) of the Exchange Act.</footnote>
        <footnote id="F6">Each reporting person disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that such reporting person is the beneficial owner of the shares for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose. As Euroholdings does not have a pecuniary interest in the 100 Common Shares owned by LPG Holding, the number of Common Shares it beneficially owns after giving effect to the transactions reported on this Form 4 is 7,403,943.</footnote>
        <footnote id="F7">BW Group, the Foundation and Euroholdings are jointly filing this Form 4 pursuant to Rule 16a-3(j) under the Exchange Act.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>BW GROUP LIMITED By: /s/ Nicholas Fell, Authorized Signatory</signatureName>
        <signatureDate>2019-06-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>BW EUROHOLDINGS LIMITED By: /s/ Billy Chiu, Authorized Signatory</signatureName>
        <signatureDate>2019-06-28</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>THE SOHMEN FAMILY FOUNDATION By: /s/ Andreas Sohmen-Pao, Authorized Signatory</signatureName>
        <signatureDate>2019-06-28</signatureDate>
    </ownerSignature>
</ownershipDocument>
