<ARTICLE> 5 <LEGEND> THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM TEEKAY SHIPPING CORPORATION AND SUBSIDIARIES CONSOLIDATED FINANCIAL STATEMENTS AND IS QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS. </LEGEND> <MULTIPLIER> 1,000 <PERIOD-TYPE> 6-MOS <FISCAL-YEAR-END> MAR-31-1998 <PERIOD-START> APR-01-1997 <PERIOD-END> SEP-30-1997 <CASH> 108,709 <SECURITIES> 1,002 <RECEIVABLES> 21,501 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 157,847 <PP&E> 1,662,824 <DEPRECIATION> 473,937 <TOTAL-ASSETS> 1,383,747 <CURRENT-LIABILITIES> 105,868 <BONDS> 624,257 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 257,374 <OTHER-SE> 396,248 <TOTAL-LIABILITY-AND-EQUITY> 1,383,747 <SALES> 0 <TOTAL-REVENUES> 197,979 <CGS> 0 <TOTAL-COSTS> 52,014 <OTHER-EXPENSES> 97,923 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 28,780 <INCOME-PRETAX> 26,285 <INCOME-TAX> 0 <INCOME-CONTINUING> 26,285 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 26,285 <EPS-PRIMARY> 0.92 <EPS-DILUTED> 0.92