<ARTICLE> 5
<LEGEND>
THIS SCHEDULE CONTAINS SUMMARY FINANCIAL INFORMATION EXTRACTED FROM TEEKAY
SHIPPING CORPORATION AND SUBSIDARIES CONSOLIDATED FINANCIAL STATEMENTS AND IS
QUALIFIED IN ITS ENTIRETY BY REFERENCE TO SUCH FINANCIAL STATEMENTS.
</LEGEND>
<MULTIPLIER> 1,000
       
                             
<PERIOD-TYPE>                   YEAR
<FISCAL-YEAR-END>                          MAR-31-1996
<PERIOD-START>                             APR-01-1995
<PERIOD-END>                               MAR-31-1996
<CASH>                                          99,790
<SECURITIES>                                         0
<RECEIVABLES>                                   22,213
<ALLOWANCES>                                         0
<INVENTORY>                                          0
<CURRENT-ASSETS>                               142,049
<PP&E>                                       1,575,912
<DEPRECIATION>                                 377,105
<TOTAL-ASSETS>                               1,355,301
<CURRENT-LIABILITIES>                           49,166
<BONDS>                                        706,740
<PREFERRED-MANDATORY>                                0
<PREFERRED>                                          0
<COMMON>                                       235,705
<OTHER-SE>                                     363,690
<TOTAL-LIABILITY-AND-EQUITY>                 1,355,301
<SALES>                                              0
<TOTAL-REVENUES>                               336,320
<CGS>                                                0
<TOTAL-COSTS>                                   90,575
<OTHER-EXPENSES>                               170,697
<LOSS-PROVISION>                                     0
<INTEREST-EXPENSE>                              61,679
<INCOME-PRETAX>                                 29,070
<INCOME-TAX>                                         0
<INCOME-CONTINUING>                             29,070
<DISCONTINUED>                                       0
<EXTRAORDINARY>                                      0
<CHANGES>                                            0
<NET-INCOME>                                    29,070
<EPS-PRIMARY>                                     1.17
<EPS-DILUTED>                                     1.17