<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM TEEKAY
SHIPPING CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMETNS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   12-MOS
<FISCAL-YEAR-END>                          MAR-31-1998
<PERIOD-START>                             APR-01-1997
<PERIOD-END>                               MAR-31-1998
<CASH>                                          87,953
<SECURITIES>                                    13,448
<RECEIVABLES>                                   24,327
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               139,514
<PP&E>                                       1,798,662
<DEPRECIATION>                                 500,779
<TOTAL-ASSETS>                               1,460,183
<CURRENT-LIABILITIES>                           98,291
<BONDS>                                        672,437
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       261,353
<OTHER-SE>                                     428,102
<TOTAL-LIABILITY-AND-EQUITY>                 1,460,183
<SALES>                                              0
<TOTAL-REVENUES>                               406,036
<CGS>                                                0
<TOTAL-COSTS>                                  100,776
<OTHER-EXPENSES>                               197,620
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              56,269
<INCOME-PRETAX>                                 70,504
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             70,504
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    70,504
<EPS-PRIMARY>                                     2.46
<EPS-DILUTED>                                     2.44