<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> 9-MOS <FISCAL-YEAR-END> MAR-31-1998 <PERIOD-START> APR-01-1997 <PERIOD-END> DEC-31-1997 <CASH> 116,133 <SECURITIES> 1,000 <RECEIVABLES> 24,298 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 156,217 <PP&E> 1,717,287 <DEPRECIATION> 478,319 <TOTAL-ASSETS> 1,431,368 <CURRENT-LIABILITIES> 119,752 <BONDS> 632,253 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 260,678 <OTHER-SE> 418,685 <TOTAL-LIABILITY-AND-EQUITY> 1,431,368 <SALES> 0 <TOTAL-REVENUES> 305,063 <CGS> 0 <TOTAL-COSTS> 78,406 <OTHER-EXPENSES> 147,660 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 42,243 <INCOME-PRETAX> 54,893 <INCOME-TAX> 0 <INCOME-CONTINUING> 54,893 <DISCONTINUED> 0 <EXTRAORDINARY> 0 <CHANGES> 0 <NET-INCOME> 54,893 <EPS-PRIMARY> 1.92 <EPS-DILUTED> 1.90