UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,D.C FORM 8-K CURRENT REPORT

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1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington,D.C FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 DateofReport(Dateofearliesteventreported):May 31, 2016 DORIAN LPG LTD. (Exactnameofregistrantasspecifiedinitscharter) Republic of the Marshall Islands (Stateorotherjurisdictionofincorporationor (CommissionFileNumber) (IRSemployeridentificationno.) organization) c/o Dorian LPG (USA) LLC, 27 Signal Road, Stamford, Connecticut (Addressofprincipalexecutiveoffices) (ZipCode) (Registrant'stelephonenumber,includingareacode):(203) (FormerNameorFormerAddress,ifChangedSinceLastReport):None ChecktheappropriateboxbelowiftheForm8-Kfilingisintendedtosimultaneouslysatisfythefilingobligationoftheregistrant underanyofthefollowingprovisions(seegeneralinstructiona.2.below): [_] WrittencommunicationspursuanttoRule425undertheSecuritiesAct(17CFR ) [_] SolicitingmaterialpursuanttoRule14a-12undertheExchangeAct(17CFR240.14a-12) [_] Pre-commencementcommunicationspursuanttoRule14d-2(b)undertheExchangeAct(17CFR240.14d-2(b)) [_] Pre-commencementcommunicationspursuanttoRule13e-4(c)undertheExchangeAct(17CFR240.13e-4(c))

2 Item 2.02 Results of Operations and Financial Condition OnMay31,2016,DorianLPGLtd.issuedapressrelease(the"PressRelease")relatingtoitsfinancialresultsforthe fourthquarterandfiscalyearendedmarch31,2016.acopyofthepressreleaseisattachedheretoasexhibit99.1andis incorporatedhereinbyreference. InaccordancewithGeneralInstructionB.2toForm8-K,theinformationunderthisItem2.02andthePressRelease shallbedeemedtobe"furnished"tothesecuritiesandexchangecommission(the"sec")andnotbedeemedtobe"filed"with thesecforpurposesofsection18oftheexchangeactorotherwisesubjecttotheliabilitiesofthatsection. Item Financial Statements and Exhibits (d)exhibits Exhibit Number Description 99.1 PressReleasedatedMay31,2016

3 PursuanttotherequirementsoftheSecuritiesExchangeActof1934,theregistranthasdulycausedthisreporttobesignedonits behalfbytheundersigned,thereuntodulyauthorized. Dated:May31,2016 DORIAN LPG LTD. (registrant) By: /s/theodoreb.young TheodoreB.Young ChiefFinancialOfficer

4 Exhibit 99.1 Do rian LPG Ltd. Announces Fourth Q uarter and Full Fiscal Year 2016 Financial Results Stamford, CT May 31, 2016 Dorian LPG Ltd. (NYSE: LPG ) (the "Company" or "Dorian LPG"), a leading owner and operatorofmodernverylargegascarriers("vlgcs"), todayreporteditsfinancialresultsforthethreemonthsandfiscalyear endedmarch31,2016. Highlights for the Fourth Quarter and Fiscal Year Ended March 31, 2016 (1) (2) (1) DailyTimeCharterEquivalent( TCE ) rateforspotandtimechartervlgcsof$46,735 forthequarterand (1) $57,377 fortheyearendedmarch31,2016. (2) Netincomeof$20.2million,or$0.36basicanddilutedearningspershare( EPS ),andadjustednetincome of (2) $33.8million,or$0.60adjustedbasicanddilutedEPS,forthethreemonthsendedMarch31,2016. (2) AdjustedEBITDA of$59.1millionforthethreemonthsendedmarch31,2016. Delivery of nineteenth and final vessel from our newbuilding program, the Caravelle, an ECO-design VLGC, from HyundaiSamhoHeavyIndustries,andsaleoftheGrendon,a5,000cubicmeterpressurizedgascarrier( PGC ). Helios LPG Pool LLC ( the Helios Pool ) entered into an agreement with Oriental Energy Company ( Oriental Energy )wherebytheheliospoolwilloperateeightvlgcsfororientalenergy.aspartoftheagreement,thehelios PoolenteredintoaCOAwithOrientalEnergycoveringLPGshipmentsfromtheUnitedStatesGulf. Repurchase of 1.1 million shares of common stock for approximately $10.9 million for the quarter ended March 31, 2016underthepreviouslyannouncedsharebuybackofupto$100million. (1) TCE for VLGCs, excluding Grendon. For full fleet metrics including Grendon, refer to the reconciliation of revenuestotcerateincludedinthispressrelease. (2) TCE, adjusted net income, adjusted EPS and adjusted EBITDA are non-gaap measures. Refer to the reconciliation of net income to adjusted net income and net income to adjusted EBITDA included in this press release. JohnHadjipateras,Chairman,PresidentandChiefExecutiveOfficer,commented,"ThiswasanimportantyearforDorianLPG, during which we took delivery of 16 modern ECO-design VLGCs. In February, we took delivery of the Caravelle, the final vesselfromournewbuildingprogramandcompletedthesaleofthegrendon,whichwasoursolepressurizedgascarrier. Wenowown22VLGCs,ofwhichfourareontimecharterwithtwoormoreyearsremaining.Our18spotmarketVLGCsare operated by the Helios LPG Pool, which we founded and run jointly with Phoenix Tankers, a subsidiary of Mitsui OSK. In addition to our ships T he Helios LPG Pool operates four VLGCs which are owned by Phoenix Tankers and two VLGCs contributedbyorientalenergy,amajorpdhoperatorandlpgimporterinchinawithwhomthepoolhasenteredintoacoa. 1

5 Fourth Quarter Fiscal Results Summary Our net income amounted to $20.2million, or $0.36per share, for the three months ended March 31, 2016, compared to net incomeof$8.8million,or$0.15pershare,forthethreemonthsendedmarch31,2015. Ouradjustednetincomeamountedto$33.8million,or$0.60pershareforthethreemonthsendedMarch31,2016,comparedto $9.1million, or $0.16pershareforthethree months ended March 31, We have adjusted our net income for the three monthsendedmarch31,2016forunrealizedlossesonderivativeinstrumentsof$12.6millionanda$1.0millionlossrelatedto thesaleofthegrendon.pleaserefertotheadjustednetincomereconciliationtable,whichappearslaterinthisearningsrelease. Theincreaseof$24.7millioninadjustednetincomeforthethreemonthsendedMarch31,2016comparedtothethreemonths ended March 31, 2015 is primarily attributable to a $50.0 million increase in revenues, a $6.5 million decrease in voyage expensesanda$1.4millionimpairmentchargethatdidnotrecur,offsetprimarilybya$9.8millionincreaseinvesseloperating expenses, a $11.3 million increase in depreciation and amortization, a $5.1 million increase in general and administrative expenses,a$7.0millionincreaseininterestandfinancecostsanda$1.1millionincreaseintherealizedlossonderivatives. Thedailytimecharterequivalent( TCE )rateforourfleetwas$46,376forthethreemonthsendedmarch31,2016,a11.9% decreasefromthe$52,618tceratefromthesameperiodintheprioryear,reflectingmoresubduedmarketconditions.however,totalfleetutilization(includingtheutilizationofourvesselsdeployedintheheliospool)increasedfrom86.2%inthequarter endedmarch31,2015to91.8%inthefiscalfourthquarterof2016.pleaseseefootnote6forotherinformationrelatedtoand howwecalculatetce. Vessel operatin g expenses per day declined to $8,350inthethree monthsendedmarch31, 2016from $10,881in the same periodintheprioryear.thisdecreaseisprimarilyduetotheincrease intheproportion ofnewvlgcsinourfleet andthe phasingoutoftrainingcostsfornewcrewsthatwereincurredinthepriorperiod. Revenues Revenues of $85.3 million for the three months ended March 31, 2016, including net pool revenues related party, voyage charters,timechartersandotherrevenuesearnedbyourvlgcsandourpgc,increased$50.0million,or141.5%,from$35.3 million for the three months ended March 31, This increase is primarily attributable to $62.6 million of revenues contributedbysixteenofournewbuildingvlgcsthatweredeliveredsubsequenttomarch31,2015,partiallyoffsetbylower TCErates. ForthethreemonthsendedMarch31,2016,theHeliosPoolearnednetpoolrevenues relatedpartyof$72.2million.fourof ourvlgcsearnedtimecharterrevenuesamountingto$12.6millionduringthethreemonthsendedmarch31,2016. Voyage Expenses Voyageexpenseswere$0.7millionduringthethreemonthsendedMarch31,2016,adecreaseof$6.5million,or90.9%, from$7.2millionforthethreemonthsendedmarch31,2015.thedecreasewasmainlyattributabletoanincreaseinthe numberofvesselsoperatingintheheliospool. Vessel Operating Expenses Vesseloperatingexpenseswere$16.6millionduringthethreemonthsendedMarch31,2016,or$8,350pervesselpercalendar day,whichiscalculatedbydividingvesseloperatingexpensesbycalendardaysfortherelevanttimeperiodforthevesselsthat wereinourfleet.thiswasanincreaseof$9.8million,or143.1%,from$6.8millionor$10,881pervesselpercalendarday,for thethreemonthsendedmarch31,2015.thisincreaseisprimarilytheresultofanincreaseof$11.4millionofvesseloperating expenses attributable to sixteen of our ECOVLGCsthat were delivered subsequent to March 31, Thedeclineinvessel operatingexpensesperdaywaslargelyduetotheadditionofnewervessels,whichincur 2

6 loweroperatingcostsalongwithareductionofcostsrelatingtotrainingofadditionalcrewinanticipationofournewbuilding deliveries. Depreciation and Amortization Depreciationandamortizationwasapproximately$15.9millionforthethreemonthsendedMarch31,2016,anincreaseof$11.3 million,or243.6%,from$4.6millionforthethreemonthsendedmarch31,2015.theincreaseisprimarilyattributableto$ 11.2millionofdepreciationandamortizationrelatedtosixteenofourECOVLGCsthatweredeliveredsubsequenttoMarch31, General and Administrative Expenses Generalandadministrativeexpenseswere$9.8millionforthethreemonthsendedMarch31,2016,anincreaseof$5.0million,or 106.8%,from$4.8millionfortheyearendedMarch31,2015.Theincreaseincludeda$3.0millionexpenseforbonusesin respectoftheyearendedmarch31,2016thatwasexpensedduringthethreemonthsendedmarch31,2016,aswellasincreases of$0.8millionforsalaries,wagesandbenefitsasheadcountincreasedduetothegrowthinouroperations,$0.4millioninlegal andprofessionalfees,$0.2millioninstockcompensationexpenseand$0.6millioninotherexpenses. Loss on Disposal of Asset s Lossondisposalofassetsamountedto$1.0millionforthethreemonthsendedMarch31,2016andwasprimarilyattributableto thesaleofthegrendon.therewasnolossondisposalofassetsfortheyearendedmarch31,2015. Other income related parties Otherincome relatedpartiesamountedto$0.8millionforthethreemonthsendedmarch31,2016,anincreaseof$0.7million from$0.1millionforthethreemonthsendedmarch31,2015.theincreasewasprimarilyattributableto$0.4millionoffeesfor commercialmanagementservicesprovidedbydorianlpg(uk)ltd.totheheliospoolaswellanincreaseof$0.4millionfor certaincharteringandmarineoperationservicesprovidedbydorianlpg(usa)llcanditssubsidiariestoarelatedparty. Interest and Finance Costs Interestandfinancecostsamountedto$7.1millionforthethreemonthsendedMarch31,2016,anincreaseof$7.0millionfrom lessthan$0.1millionfortheyearendedmarch31, Theincreasewasmainlydue toa$6.3millionincreaseininterest incurredonourlong-termdebt,amortizationandotherfinancingexpensesfrom$0.9millionduringtheyearendedmarch31, 2015to$7.2millionduringthethreemonthsendedMarch31,2016.Additionally,capitalizedinterestdecreased$0.7million from$0.9millioninthethreemonthsendedmarch31,2015to$0.2millioninthethreemonthsendedmarch31,2016.the outstandingbalanceofourlongtermdebtasofmarch31,2016was$836.4million. Loss on Derivatives, net Lossonderivatives,netwas$15.0millionforthethreemonthsendedMarch31,2016,anincreaseof$13.4million,or851.2%, compared to $1.6 million for the three months ended March 31, The increase is primarily attributable to an increase in unrealizedlossesfromthechangesinthefairvalueofourinterestrateswapsof$12.3millionduringthethreemonthsended March31, 2016compared totheyearendedmarch31, Additionally, theincrease isattributable toanincrease of$1.1 millionofrealizedlossduetoanincreaseinthenotionaldebtamountsduringthethreemonthsendedmarch31,2016compared tothethreemonthsendedmarch31,2015.thenetlossonderivativesforthethreeendedmarch31,2016wascomprisedofan unrealizedlossof$12.6millionfromthechangesinthefairvalueoftheinterestrateswapsalongwitharealizedlossof$2.4 million. Foreign Currency Gain/(L oss), net Foreign currency gain/(loss), net amounted to a net loss of approximately $0.1 millionforthethree months ended March 31, 2016,comparedtoanetlossof$0.2millionforthethreemonthsendedMarch31,2015.Thedecreaseisprimarily 3

7 attributabletounrealizedlossesfromcashheldinnorwegiankroneduringthethreemonthsendedmarch31,2015thatdidnot recurduringtheyearendedmarch31,2016. Share Repurchase Program InAugust2015,ourBoardofDirectorsauthorizedastockrepurchaseprogramofupto$100.0millionofourcommonstock. During the three months ended March 31, 2016, we repurchased a total of 1,100,134 shares of our common stock for approximately$10.9millionunderthisprogram,resultingin$79.1millionofavailableauthorizationremaining. Fiscal Year 2016 Results Summary Ournetincomeamountedto$129.7million,or$2.29pershare,fortheyearendedMarch31,2016,comparedtoanetincomeof $25.3million,or$0.45pershare,fortheyearendedMarch31,2015. Ouradjustednetincomeamountedto$139.6million,or$2.46persharefortheyearendedMarch31,2016,comparedto$23.9 million,or$0.43persharefortheyearendedmarch31,2015.wehaveadjustedournetincomefortheyearendedmarch31, 2016mainlyforunrealizedlossesonderivativesof$8.9millionanda$1.0millionlossrelatedtothesaleoftheGrendon. PleaserefertotheAdjustedNetIncomereconciliationtable,whichappearslaterinthisearningsrelease. Theincreaseof$115.7millioninadjustednetincomefortheyearendedMarch31,2016comparedtotheyearendedMarch31, 2015isprimarilyattributabletoa$185.1millionincreaseinrevenuesanda$10.0milliondecreaseinvoyageexpenses,offset primarilybya$25.8millionincreaseinvesseloperatingexpenses,a$28.5millionincreaseindepreciationandamortization,a$ 15.7millionincreaseingeneralandadministrativeexpensesanda$12.5millionincreaseininterestandfinancecosts. DuringtheyearendedMarch31,2016,thenumberofoperatingdaysincreasedto5,031from1,652intheyearendedMarch31, 2015.Totalfleetutilizationalsoincreasedto93.1%from85.8%. Thedailytimecharterequivalent( TCE ) rateforourfleetwas$55,087fortheyearendedmarch31,2016,a$5,422in creasefromthe$49,665tceratefromtheyearendedmarch31,2015.pleaseseefootnote6forotherinformationrelatedto andhowwecalculatetce. Vesseloperatingexpensesperdaydeclinedto$8,581intheyearendedMarch31,2016from$10,703intheyearendedMarch 31,2015.ThisdecreaseisprimarilyduetotheincreaseintheproportionofnewVLGCsinourfleetandthephasingoutof trainingcostsfornewcrewsthatwereincurredinthepriorperiod. Revenues Revenuesof$289.2millionfortheyearendedMarch31,2016,includingnetpoolrevenues relatedparty,voyagecharters,time chartersandotherrevenuesearnedbyourvlgcsandourpgc,increased$185.1million,or177.7%,from$104.1millionforthe yearendedmarch31, Theincrease isprimarily attributable to$162.2millionofrevenuescontributed bysixteen ofour newbuilding VLGCs that were delivered subsequent to March 31, Additionally, revenues contributed by VLGCs in our operatingfleetduringbothperiodsincreased$21.8millionresultingfromemploymentof2,101operatingdaysduringtheyear ended March 31, 2016 compared to 1,512 operating days during the year ended March 31, The Grendon s revenues increased $1.1 million to $2.9 million on 224 operating days for the year ended March 31, 2016 from $1.8 million on 140 operatingdaysfortheyearendedmarch31,2015. FortheyearendedMarch31,2016,nineteenofourVLGCsoperatedwithintheHeliosPool,includingoneVLGCthatleftthe HeliosPooltobeginalong-term time charter injuly2015, andourvlgcswiththeheliospoolearned netpoolrevenues related party of $202.9 million. Four of our VLGCs operated in the spot market outside of the Helios Pool and earned $43.3 millioninvoyagecharterrevenuesandfourofourvlgcsearnedtimecharterrevenuesamountingto$38.7millionduringthe yearendedmarch31,2016.fortheyearendedmarch31,2015,fourofourvlgcsoperatedinthespotmarketandearned$76.1 millioninvoyagecharterrevenues,andthreeofourvlgcsearnedtimecharterrevenuesduringtheperiodamountingto$25.5 million, includingavlgcthatendeditstimecharteronjuly27, Timecharterrevenuesincluded$7.8millionofprofit sharingfortheyearendedmarch31,

8 Voyage Expenses Voyageexpenseswere$12.1millionduringtheyearendedMarch31,2016,adecreaseof$10.0million,or45.4%,from$22.1 million for the year ended March 31, The decrease was mainly attributable to a n in crease in the number of vessels operating inthe Helios Poolaswell asdecreases infuel prices. These decreases resulted indecreases inbunker costs of$8.4 million,portexpensesof$1.0millionandothervoyageexpensesof$0.6million.voyageexpensesduringtheyearendedmarch 31,2016mainlyrelatedtobunkersof$7.2million,portchargesandotherrelatedexpensesof$2.6million,brokers commissions of$1.3million,securitycostsof$0.4millionandothervoyageexpensesof$0.6million.voyageexpensesduringtheyearended March 31, 2015 mainly related to bunkers of $15.7 million, port charges and other related expenses of $3.6 million, brokers commissionsof$1.7million,securitycostsof$0.7millionandothervoyageexpensesof$0.4million. Vessel Operating Expenses Vessel operating expenses were $47.1 million during the year ended March 31, 2016, or $8,581 per vessel per calendar day, whichiscalculatedbydividingvesseloperatingexpensesbycalendardaysfortherelevanttimeperiodforthevesselsthatwere inourfleet.thiswasanincreaseof$25.8million,or121.7%,from$21.3millionor$10,703pervesselpercalendarday,forthe year ended March 31, This increase is primarily the result of an increase of $24.0 million of vessel operating expenses attributable to sixteen of our ECO VLGCs that were delivered subsequent to March 31, Additionally, vessel operating expensesincreased$1.8millionforthesevenvesselsthatwereinourfleetduringbothperiodsresultingfrom2,518calendardays duringtheyearendedmarch31,2016comparedto1,986calendardaysduringtheyearendedmarch31,2015.thedeclinein vesseloperatingexpensespervesselpercalendardayduringtheyearendedmarch31,2016waslargelyduetotheadditionof newervessels,whichincurloweroperatingcosts,alongwitha$0.5millionreductionincostsrelatingtothetrainingofadditional crewwhencomparedtotheyearendedmarch31,2015. Impairment We did not incur any impairment charges during the year ended March 31, In the year ended March 31, 2015, we recognizedanimpairmentlossof$1.4millionforourownedpgcvessel.thisimpairmentlosswastriggeredbyreductionsin vesselvaluesreflectingchallengingconditionsinthepgcmarketandrepresentedthedifferencebetweenthecarryingvalueand recoverableamount,beingfairvalue. Depreciation and Amortization Depreciationandamortizationwasapproximately$42.6millionfortheyearendedMarch31,2016,anincreaseof$28.5million, or 202.2%, from $14.1 million for the year ended March 31, The increase is primarily attributable to $23.8 million of depreciation and amortization related to sixteen of our ECO VLGCs that were delivered subsequent to March 31, Additionally,therewasanincreaseof$4.7millionforthesixVLGCsthatwereinourfleetduringbothyearsresultingfroman increaseinvlgccalendardaysfrom1,621duringtheyearendedmarch31, 2015to2,196duringtheyearendedMarch31, General and Administrative Expenses General and administrative expenses were $29.8 million for the year ended March 31, 2016, an increase of $15.7 million, or 110.9%,from$14.1millionfortheyearendedMarch31,2015mainlyduetocompensation-relatedincreasesof$8.9millionfor salaries,wagesandbenefits(primarilyduetoanincreaseof$5.1millionrelatingtocashbonusestovariousemployeesrelating totheyearendedmarch31,2016,aswellaspriorperiods,weregrantedandexpensedintheyearendedmarch31,2016),$1.7 millionforstock-basedcompensation,and$0.5millionindirectorsfees.additionally,increasesinconjunctionwiththebuildout ofouroperations amounted to$3.0million for certain non-capitalizable costs incurred prior tovessel delivery including crew costs prior to initial voyage, $0.3 million in information technology and $1.3 million for other general and administrative expenses. During the year ended March 31, 2016, general and administrative expenses were comprised of $15.3 million of salariesandbenefits(inclusiveofthe$3.0millionexpense,approvedbytheboardofdirectorsinmarch2016,forcashbonuses relatingtotheyearendedmarch31,2016,and$2.1millionincashbonuses,approvedbytheboardofdirectorsinmay2015,to variousemployeesforservicesrelatedtopriorperiods),$4.1millionofstock-basedcompensation,$3.4millionforcertainnoncapitalizablecostsincurredpriorto 5

9 vessel delivery, $2.5 million for professional, legal, audit and accounting fees and $4.5 million of other gener al and administrative expenses. During the year ended March 31, 2015, general and administrative expenses were comprised of $6.4 million of salaries and benefits (inclusive of a $0.4 million accrual for statutory retirement benefits for our Greece-based employees), $2.4millionforprofessional, legal, auditandaccountingfees, $2.3millionofstock-basedcompensationand$3.0 millionofothergeneralandadministrativeexpenses. Loss on Disposal of Assets Lossondisposalofassetsamountedto$1.1millionfortheyearendedMarch31,2016andwasprimarilyattributabletothesale ofthegrendon.therewasnolossondisposalofassetsfortheyearendedmarch31,2015. Other income related parties Otherincome relatedpartiesamountedto$1.9millionfortheyearendedmarch31, 2016, anincreaseof$1.8millionfrom $0.1millionfortheyearendedMarch31,2015.Theincreasewasprimarilyattributableto$1.4millionoffeesforcommercial management services provided by Dorian LPG (UK) Ltd. to the Helios Pool as well an increase of $0.5 million for certain charteringandmarineoperationservicesprovidedbydorianlpg(usa)llcanditssubsidiariestoarelatedparty. Interest and Finance Costs Interestandfinancecostsamountedto$12.8millionfortheyearendedMarch31,2016,anincreaseof$12.5millionfrom$0.3 millionfortheyearendedmarch31,2015.theincreaseof$12.5millionduringthisperiodwasmainlyduetoa$13.8million increaseininterestincurredonourlong-termdebt,amortizationandotherfinancingexpensesfrom$3.8millionintheyearended March 31, 2015 to $17.6 million in the year ended March 31, These increases were partially offset by a $1.3 million increaseincapitalizedinterestfrom$3.5millionintheyearendedmarch31,2015to$4.8millionintheyearendedmarch31, 2016.TheaverageindebtednessduringtheyearendedMarch31,2016was$543.1millioncomparedto$125.9millionduringthe yearendedmarch31,2015,reflectingdebtdrawdownsof$676.8millionmadeunderour2015debtfacility.theoutstanding balanceofourlongtermdebtasofmarch31,2016was$836.4million. Loss on Derivatives, net Lossonderivatives,netwas$15.8millionfortheyearendedMarch31,2016,anincreaseof$11.8million,or298.5%,compared to$4.0millionfortheyearendedmarch31,2015.theincreaseisprimarilyattributabletoanincreaseinunrealizedlossesfrom thechangesinthefairvalueofourinterestrateswapsof$10.2millionduringtheyearendedmarch31,2016comparedtothe year ended March 31, Additionally, the increase is attributable to an increase of $1.6 million of realized loss due to an increaseinthenotionaldebtamountsduringtheyearendedmarch31,2016comparedtheyearendedmarch31,2015.thenet lossonderivativesfortheyearendedmarch31,2016wascomprisedofanunrealizedlossof$8.9millionfromthechangesinthe fairvalueoftheinterestrateswapsduemainlytochangesinyieldcurvesalongwitharealizedlossof$6.9millionduemainlyto anincreaseinnotionaldebtamountsduetofournewinterestrateswapsweenteredintoduringtheperiod.fortheyearended March 31, 2015, the net loss on derivatives was primarily comprised of a realized loss of $5.3 million, partially offset by an unrealizedgainof$1.3millionfromthechangesinthefairvalueoftheinterestrateswaps. Foreign Currency Gain/(L oss), net Foreigncurrencygain/(loss),netamountedtoanetlossofapproximately$0.3millionfortheyearendedMarch31,2016.This wasadecreaseinthelossof$0.7million,or65.7%,comparedtoalossof$1.0millionfortheyearendedmarch31,2015.the decreaseisprimarilyattributabletounrealizedlossesfromcashheldinnorwegiankroneduringtheyearendedmarch31,2015 thatdidnotrecurduringtheyearendedmarch31,2016. Share Repurchase Program InAugust2015,ourBoardofDirectorsauthorizedastockrepurchaseprogramofupto$100.0millionofourcommonstock.As ofmarch31,2016,werepurchasedatotalof1,932,465sharesofourcommonstockforapproximately$20.9millionunderthis program,resultingin$79.1millionofavailableauthorizationremaining. 6

10 Fleet ThefollowingtablesetsforthcertaininformationregardingourfleetasofMay26,2016: Capacity Sister ECO Charter (Cbm) Shipyard Ships Year Built Vessel Employment (2) Expiration (1) (3) VLGCs CaptainNicholasML 82,000 Hyundai A 2008 Pool CaptainJohnNP 82,000 Hyundai A 2007 Pool CaptainMarkosNL 82,000 Hyundai A 2006 TimeCharter Q42019 (4) Comet 84,000 Hyundai B 2014 X TimeCharter Q32019 (5) (6) Corsair 84,000 Hyundai B 2014 X TimeCharter Q32018 Corvette 84,000 Hyundai B 2015 X Pool Cougar 84,000 Hyundai B 2015 X Pool Concorde 84,000 Hyundai B 2015 X Pool (7) Cobra 84,000 Hyundai B 2015 X Pool Q32016 Continental 84,000 Hyundai B 2015 X Pool Constitution 84,000 Hyundai B 2015 X Pool Commodore 84,000 Hyundai B 2015 X Pool Cresques 84,000 Daewoo C 2015 X Pool Constellation 84,000 Hyundai B 2015 X Pool Cheyenne 84,000 Hyundai B 2015 X Pool Clermont 84,000 Hyundai B 2015 X Pool Cratis 84,000 Daewoo C 2015 X Pool Chaparral 84,000 Hyundai B 2015 X Pool Copernicus 84,000 Daewoo C 2015 X Pool Commander 84,000 Hyundai B 2015 X TimeCharter Q42020 (8) (9) Challenger 84,000 Hyundai B 2015 X Pool Q22017 Caravelle 84,000 Hyundai B 2016 X Pool Total 1,842,000 (1) Representsvesselswithverylowrevolutionsperminute, long stroke, electronicallycontrolledengines, largerpropellers, advancedhull design,andlowfrictionpaint. (2) Pool indicatesthatthevesselisoperatedintheheliospoolandreceivesascharterhireaportionofthenetrevenuesofthepoolcalculated accordingtoaformulabasedonthevessel sprorataperformanceinthepool. (3) Representscalendaryearquarters. (4) CurrentlyontimecharterwithanoilmajorthatbeganinDecember2014. (5) CurrentlyonatimecharterwithanoilmajorthatbeganinJuly2014. (6) CurrentlyontimecharterwithanoilmajorthatbeganinJuly2015. (7) CurrentlyonatimecharterwithanoilmajorwithintheHeliosPoolthatbeganinJuly2015. (8) CurrentlyonatimecharterwithamajoroilcompanythatbeganinNovember2015. (9) CurrentlyontimecharterwithatraderwithintheHeliosPoolthatbeganinMay2016. Market Outlook Update LPGtradehasbeenstronginthefirstfivemonthsof2016,asevidencedbyUSLPGmonthlyexportvolumestwicereachinga recordofover2.3milliontonsinthattimeperiod.morethan80percentofthosecargoesoriginatedfromus Gulfexportterminals withmarcushookandferndale exportingtheremaining cargoes. MorethanhalfoftheUSLPGcargo exports cargoes were destined for Far East discharge. Middle East Gulf exports have continued to grow this calendar year by about4-5%overlastyearandareexpectedtoreachmorethan37milliontonsoflpgexportsforcalendar2016. VLGCutilizationhasremainedhigh(above90%)formostofthisyear.Withmorethan80milliontonsofseaborneLPGtrade expectedin2016,webelievemostofthevesselsinthefleetwillremainwellutilized. Onthedemandsidetradehasgenerallybenefitedfromloweroilprices.IndiaandChinahavemorerecentlybecomethedominant marketsforlpgvolumes. Indiaisontracktowellexceed10milliontonsofLPGimportsfor2016versus9.2milliontonsin 2015.ChinaimportsofLPGforthefirstcalendarquarterof2016haveincreasedoverthesameperiodlastyearby1.42million tons to 3.63 million tons. We expect that, during the third calendar quarter of 2016, the seasonal restocking program will commenceinthewest,requiringrebuildingofstocksthatinvariablyresultinincreasedactivityforlpgmarkets. 7

11 WhilethesefactorssupportgoodfundamentaldemandforLPGandLPGshipping,therecanbenoassurancesthatsuchtrends willcontinueorthatfuturefreightrates,exportcapacity,exportvolumes,ortheeffectsofthenewpanamacanalwillmaterialize. Seasonality Liquefiedgasesareprimarilyusedforindustrialanddomesticheating,asachemicalandrefineryfeedstock,asatransportation fuel and in agriculture. The LPG shipping market is typically stronger in the spring and summer months in anticipation of increasedconsumptionofpropaneandbutaneforheatingduringthewintermonths.inaddition,unpredictableweatherpatternsin thesemonthstendtodisruptvesselschedulingandthesupplyofcertaincommodities.demandforourvesselsthereforemaybe strongerinourquartersendingjune30andseptember30andrelativelyweakerduringourquartersendingdecember31and March 31, although 12-month time charter rates tend to smooth these short-term fluctuations. To the extent any of our time chartersexpireduringtherelativelyweakerfiscalquartersendingdecember31andmarch31,itmaynotbepossibletore-charter ourvesselsatsimilarrates.asaresult,wemayhavetoacceptlowerratesorexperienceoff-hiretimeforourvessels,whichmay adverselyimpactourbusiness,financialconditionandoperatingresults. Financial Information Thefollowingtablepresentsourselectedfinancialdataandotherinformationfortheperiodspresented: Three months ended Years ended (in U.S. dollars, except fleet data) March 31, 2016 March 31, 2015 March 31, 2016 March 31, 2015 Statement of Operations Data Revenues $ 85,335,229 $ 35,333,108 $ 289,207,829 $ 104,129,149 Expenses Voyageexpenses 652,841 7,182,709 12,064,682 22,081,856 Vesseloperatingexpenses 16,640,832 6,843,991 47,119,990 21,256,165 Managementfees relatedparty 1,125,000 Impairment 1,431,818 1,431,818 Depreciationandamortization 15,894,060 4,626,024 42,591,942 14,093,744 Generalandadministrativeexpenses 9,833,474 4,755,397 29,836,029 14,145,086 Lossondisposalofassets 1,019,846 1,125,395 Totalexpenses 44,041,053 24,839, ,738,038 74,133,669 Otherincome relatedparties 794,469 93,929 1,945,396 93,929 Operatingincome 42,088,645 10,587, ,415,187 30,089,409 Otherincome/(expenses) Interestandfinancecosts (7,056,430) (38,607) (12,757,013) (289,090) Interestincome 11,134 72, , ,597 Lossonderivatives,net (14,958,703) (1,572,621) (15,775,629) (3,959,203) Foreigncurrencygain/(loss),net 76,266 (220,419) (342,523) (998,931) Totalotherincome/(expenses),net (21,927,733) (1,758,847) (28,726,805) (4,828,627) Netincome $ 20,160,912 $ 8,828,251 $ 129,688,382 $ 25,260,782 Earningspercommonshare basic Earningspercommonshare diluted $ 0.36 $ 0.15 $ 2.29 $ 0.45 Other Financial Data (1) AdjustedEBITDA $ 59,071,535 $ 17,284,084 $ 204,865,215 $ 47,346,202 Fleet Data (2) Calendardays 1, ,491 1,986 (3) Availabledays 1, ,406 1,925 (4)(7) Operatingdays 1, ,031 1,652 Fleetutilization 91.8 % 86.2 % 93.1 % 85.8 % (5)(7) Average Daily Results (6)(7) Timecharterequivalentrate $ 46,376 $ 52,618 $ 55,087 $ 49,665 (8) Dailyvesseloperatingexpenses $ 8,350 $ 10,881 $ 8,581 $ 10,703 8

12 As of As of (in U.S. dollars) March 31, 2016 March 31, 2015 Balance Sheet Data Cashandcashequivalents $ 46,411,962 $ 204,821,183 Restrictedcash,non current 50,812,789 33,210,000 Totalassets 1,865,926,292 1,099,101,270 Currentportionoflong-termdebt 66,265,643 15,677,553 Long-termdebt netofcurrentportion 770,102, ,665,874 Totalliabilities 880,327, ,887,011 (1) AdjustedEBITDAisnon-U.S.GAAPfinancialmeasureandrepresentsnetincomebeforeinterestandfinancecosts,loss/(gain)on derivatives, net, stock compensation expense, impairment, and depreciation and amortization and is used as a supplemental financialmeasurebymanagementtoassessourfinancialandoperatingperformance.webelievethatadjustedebitdaassistsour managementandinvestorsbyincreasingthecomparabilityofourperformancefromperiodtoperiod.thisincreasedcomparability isachievedbyexcludingthepotentiallydisparateeffectsbetweenperiodsofderivatives,interestandfinancecosts,stock-based compensationexpense,impairment,depreciationandamortizationandlossondisposalofassetsexpense,whichitemsareaffected byvariousandpossiblychangingfinancingmethods,capitalstructureandhistoricalcostbasisandwhichitemsmaysignificantly affect net income between periods. We believe that including adjusted EBITDA as a financial and operating measure benefits investorsinselectingbetweeninvestinginusandotherinvestmentalternatives. AdjustedEBITDAhascertainlimitationsinuseandshouldnotbeconsideredanalternativetonetincome, operatingincome, cash flow from operating activities or any other measure of financial performance presented in accordance with U.S. GAAP. AdjustedEBITDAexcludessome,butnotall,itemsthataffectnetincome.AdjustedEBITDAaspresentedbelowmaynotbe computed consistently with similarly titled measures of other companies and, therefore might not be comparable with other companies. ThefollowingtablesetsforthareconciliationofnetincometoAdjustedEBITDA(unaudited)fortheperiodspresented: Three months ended Years ended (in U.S. dollars) March 31, 2016 March 31, 2015 March 31, 2016 March 31, 2015 Netincome $ 20,160,912 $ 8,828,251 $ 129,688,382 $ 25,260,782 Interestandfinancecosts 7,056,430 38,607 12,757, ,090 Lossonderivatives,net 14,958,703 1,572,621 15,775,629 3,959,203 Stock-basedcompensationexpense 1,001, ,763 4,052,249 2,311,565 Impairment 1,431,818 1,431,818 Depreciationandamortization 15,894,060 4,626,024 42,591,942 14,093,744 AdjustedEBITDA $ 59,071,535 $ 17,284,084 $ 204,865,215 $ 47,346,202 (2) Wedefinecalendardaysasthetotalnumberofdaysinaperiodduringwhicheachvesselinourfleetwasowned.Calendardays areanindicatorofthesizeofthefleetoveraperiodandaffectboththeamountofrevenuesandtheamountofexpensesthatare recordedduringthatperiod. (3) Wedefineavailabledaysascalendardayslessaggregateoff hiredaysassociatedwithscheduledmaintenance,whichinclude majorrepairs,drydockings,vesselupgradesorspecialorintermediatesurveys.weuseavailabledaystomeasuretheaggregate numberofdaysinaperiodthatourvesselsshouldbecapableofgeneratingrevenues. (4) Wedefineoperatingdaysasavailabledayslesstheaggregatenumberofdaysthatourvesselsareoff hireforanyreasonother thanscheduledmaintenance.weuseoperatingdaystomeasurethenumberofdaysinaperiodthatouroperatingvesselsareon hire(referto7below). (5) Wecalculatefleetutilizationbydividingthenumberofoperatingdaysduringaperiodbythenumberofavailabledaysduringthat period.anincreaseinnon scheduledoff hiredayswouldreduceouroperatingdays,andtherefore,ourfleetutilization.we usefleetutilizationtomeasureourabilitytoefficientlyfindsuitableemploymentforourvessels. (6) Timecharterequivalentrate,orTCErate,isanon-GAAPmeasureoftheaveragedailyrevenueperformanceofavessel.TCErate isashippingindustryperformancemeasureusedprimarily tocompareperiod to periodchangesinashippingcompany s performancedespitechangesinthemixofchartertypes(suchastimecharters,voyagecharters)underwhichthevesselsmaybe employedbetweentheperiods.ourmethodofcalculatingtcerateistodividerevenuenetofvoyageexpensesbyoperatingdays fortherelevanttimeperiod,whichmaynotbecalculatedthesamebyothercompanies. 9

13 ThefollowingtablesetsforthareconciliationofrevenuestoTCErate(unaudited)fortheperiodspresented: Three months ended Years ended (in U.S. dollars, except operating days) March 31, 2016 March 31, 2015 March 31, 2016 March 31, 2015 Numerator: Revenues $ 85,335,229 $ 35,333,108 $ 289,207,829 $ 104,129,149 Voyageexpenses (652,841) (7,182,709) (12,064,682) (22,081,856) Timecharterequivalent $ 84,682,388 $ 28,150,399 $ 277,143,147 $ 82,047,293 Denominator: Operatingdays 1, ,031 1,652 TCE rate: Timecharterequivalentrate $ 46,376 $ 52,618 $ 55,087 $ 49,665 (7) Wedetermineoperatingdaysforeachvesselbasedontheunderlyingvesselemployment,includingourvesselsintheHeliosPool, whichresultedin1,826and5,031operatingdays,fleetutilizationof91.8%and93.1%andatcerateof$46,376and$55,087for thethreemonthsandyearendedmarch31,2016.ifweweretocalculateoperatingdaysforeachvesselwithintheheliospoolasa variableratetimecharterfortheyearendedmarch31,2016,ouroperatingdayswouldbeincreasedto1,958and5,291forthe threemonthsandyearendedmarch31,2016,respectively,andfleetutilizationwouldbeincreasedto98.4%and97.9%forthe threemonthsandyearendedmarch31,2016,respectively.ourtceratewouldbereducedto$43,249and$52,380forthe three months and year ended March 31, 2016, respectively. We believe that our methodology using the underlying vessel employmentprovidesmoremeaningfulinsightintomarketconditionsandtheperformanceofourvessels. (8) Dailyvesseloperatingexpensesarecalculatedbydividingvesseloperatingexpensesbycalendardaysfortherelevanttimeperiod. InadditiontotheresultsofoperationspresentedinaccordancewithGAAP,weprovideadjustednetincomeandadjustedEPS. WebelievethatadjustednetincomeandadjustedEPSareusefultoinvestorsinunderstandingourunderlyingperformanceand business trends. Adjusted net income and adjusted EPS are not a measurement of financial performance or liquidity under GAAP; therefore these non-gaapfinancial measures shouldnotbe considered asanalternative orsubstitute for GAAP. The followingtablereconcilesnetincomeandepstoadjustednetincomeandadjustedepsfortheperiodspresented: Three months ended Years ended (in U.S. dollars, except share data) March 31, 2016 March 31, 2015 March 31, 2016 March 31, 2015 Netincome $ 20,160,912 $ 8,828,251 $ 129,688,382 $ 25,260,782 Unrealized(gain)/lossonderivatives 12,582, ,692 8,917,503 (1,331,954) LossondisposalofGrendon 1,019,846 1,019,846 Adjustednetincome $ 33,763,585 $ 9,133,943 $ 139,625,731 $ 23,928,828 Earningspershare diluted $ 0.36 $ 0.15 $ 2.29 $ 0.45 Unrealized(gain)/lossonderivatives (0.02) LossondisposalofGrendon Adjustedearningspershare diluted $ 0.60 $ 0.16 $ 2.46 $

14 Conference Call Aconferencecalltodiscusstheresultswillbeheldtoday,May31,2016at8:00a.m.ET.Theconferencecallcanbeaccessed livebydialing ,orforinternationalcallers, ,andrequesttobejoinedintothedorianlpgcall. Areplaywillbeavailableat11:00a.m.ETandcanbeaccessedbydialing ,orforinternationalcallers, Thepasscodeforthereplayis ThereplaywillbeavailableuntilJune7,2016,at11:59p.m.ET. Alivewebcastoftheconferencecallwillalsobeavailableundertheinvestorrelationssectionatwww.dorianlpg.com. About Dorian LPG Ltd. DorianLPGisaliquefiedpetroleumgasshippingcompanyandaleadingownerandoperatorofmodernVLGCs.DorianLPG currentlyownsandoperatestwenty-twomodern VLGCs. Dorian LPGhas offices in Stamford,Connecticut,USA,London, UnitedKingdomandAthens,Greece. Forward-Looking Statements Thispressreleasecontains"forward-lookingstatements." Statementsthatarepredictiveinnature, thatdependuponorreferto future events or conditions, or that include words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "forecasts," "may," "should" and similar expressions are forward-looking statements. These statements are not historical facts but instead represent only the Company's belief regarding future results, many of which, by their nature are inherentlyuncertainandoutsideofthecompany'scontrol.actualresultsmaydiffer,possiblymaterially,fromthoseanticipated intheseforward-lookingstatements.foradiscussionofsomeoftherisksandimportantfactorsthatcouldaffectfutureresults, seethediscussioninthecompany'sannualreportonform10-kandquarterlyreportsonform10-q,undertheheading "RiskFactors."TheCompanydoesnotassumeanyobligationtoupdatetheinformationcontainedinthispressrelease. Contact Information 11