<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-31-1999 <PERIOD-START> APR-01-1998 <PERIOD-END> DEC-31-1998 <CASH> 66,133 <SECURITIES> 21,210 <RECEIVABLES> 22,058 <ALLOWANCES> 0 <INVENTORY> 0 <CURRENT-ASSETS> 125,583 <PP&E> 1,760,192 <DEPRECIATION> 535,920 <TOTAL-ASSETS> 1,412,589 <CURRENT-LIABILITIES> 67,990 <BONDS> 562,267 <PREFERRED-MANDATORY> 0 <PREFERRED> 0 <COMMON> 330,503 <OTHER-SE> 451,829 <TOTAL-LIABILITY-AND-EQUITY> 1,412,589 <SALES> 0 <TOTAL-REVENUES> 318,910 <CGS> 0 <TOTAL-COSTS> 70,497 <OTHER-EXPENSES> 173,396 <LOSS-PROVISION> 0 <INTEREST-EXPENSE> 35,030 <INCOME-PRETAX> 50,840 <INCOME-TAX> 0 <INCOME-CONTINUING> 50,840 <DISCONTINUED> 0 <EXTRAORDINARY> 7,306 <CHANGES> 0 <NET-INCOME> 43,534 <EPS-PRIMARY> 1.41 <EPS-DILUTED> 1.41