<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