<TABLE> <S> <C>

<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>                                                               1000
       
<S>                                                                <C>
<PERIOD-TYPE>                                                         12-MOS
<FISCAL-YEAR-END>                                                    MAR-31-1997
<PERIOD-START>                                                       APR-01-1996
<PERIOD-END>                                                         MAR-31-1997
<CASH>                                                                  117,523
<SECURITIES>                                                                  0
<RECEIVABLES>                                                            25,745
<ALLOWANCES>                                                                  0
<INVENTORY>                                                                   0
<CURRENT-ASSETS>                                                        159,000
<PP&E>                                                                1,654,116
<DEPRECIATION>                                                          457,779
<TOTAL-ASSETS>                                                        1,372,838
<CURRENT-LIABILITIES>                                                    79,580
<BONDS>                                                                 663,443
<PREFERRED-MANDATORY>                                                         0
<PREFERRED>                                                                   0
<COMMON>                                                                247,637
<OTHER-SE>                                                              382,178
<TOTAL-LIABILITY-AND-EQUITY>                                          1,372,838
<SALES>                                                                       0
<TOTAL-REVENUES>                                                        382,249
<CGS>                                                                         0
<TOTAL-COSTS>                                                           102,037
<OTHER-EXPENSES>                                                        185,954
<LOSS-PROVISION>                                                              0
<INTEREST-EXPENSE>                                                       60,810
<INCOME-PRETAX>                                                          42,630
<INCOME-TAX>                                                                  0
<INCOME-CONTINUING>                                                      42,630
<DISCONTINUED>                                                                0
<EXTRAORDINARY>                                                               0
<CHANGES>                                                                     0
<NET-INCOME>                                                             42,630
<EPS-PRIMARY>                                                              1.52
<EPS-DILUTED>                                                              1.52
        

</TABLE>