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

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2018-07-05</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001746440</rptOwnerCik>
            <rptOwnerName>BW LPG Holding Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O MAPLETREE BUSINESS CITY, #17-02,</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001649313</rptOwnerCik>
            <rptOwnerName>BW LPG Ltd</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O  MAPLETREE BUSINESS CITY, #17-02</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>0</isTenPercentOwner>
            <isOther>1</isOther>
            <officerTitle></officerTitle>
            <otherText>Member of 10% owner group</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>100</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F2"/>
                    <footnoteId id="F3"/>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">On July 5, 2018, BW LPG Holding Limited (&quot;LPG Holding&quot;) purchased 100 shares of common stock, par value $0.01 per share (the &quot;Common Shares&quot;), of Dorian LPG Ltd. (the &quot;Issuer&quot;) in order to become a stockholder of the Issuer eligible to make nominations of individuals to stand for election to the Issuer's Board of Directors.  LPG Holding is a wholly-owned subsidiary of BW LPG Limited (&quot;BW LPG&quot;).</footnote>
        <footnote id="F2">As of July 16, 2018, BW Group Limited (&quot;BW Group&quot;) owns approximately 45% of BW LPG.  BW Group's wholly-owned subsidiary, BW Euroholdings Limited (&quot;Euroholdings&quot;), owns 7,826,460 Common Shares.  LPG Holding and BW LPG are filing this Form 3 because BW Group, Euroholdings, The Sohmen Family Foundation, which holds 93.25% of BW Group, LPG Holding and BW LPG may be considered a group within the meaning of Section 13(d)(3) of the Exchange Act.</footnote>
        <footnote id="F3">LPG Holding and BW LPG are jointly filing this Form 3 pursuant to Rule 16a-3(j) under the Exchange Act.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Elaine Ong Yi Ling, BW LPG Holding Limited, Authorized Signatory</signatureName>
        <signatureDate>2018-07-16</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>/s/ Andreas Sohmen-Pao, BW LPG Limited, Authorized Signatory______</signatureName>
        <signatureDate>2018-07-16</signatureDate>
    </ownerSignature>
</ownershipDocument>
