<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-31-1999 <PERIOD-START> APR-01-1998 <PERIOD-END> SEP-30-1998 <CASH> 102,629 <SECURITIES> 21,230 <RECEIVABLES> 21,691 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 159,048 <PP&E> 1,788,286 <DEPRECIATION> 512,150 <TOTAL-ASSETS> 1,446,516 <CURRENT-LIABILITIES> 65,724 <BONDS> 596,706 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 330,554 <OTHER-SE> 453,532 <TOTAL-LIABILITY-AND-EQUITY> 1,446,516 <SALES> 0 <TOTAL-REVENUES> 221,642 <CGS> 0 <TOTAL-COSTS> 46,446 <OTHER-EXPENSES> 114,406 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 24,892 <INCOME-PRETAX> 45,739 <INCOME-TAX> 0 <INCOME-CONTINUING> 45,739 <DISCONTINUED> 0 <EXTRAORDINARY> 7,306 <CHANGES> 0 <NET-INCOME> 38,433 <EPS-PRIMARY> 1.26 <EPS-DILUTED> 1.26