PRESS RELEASE DATE APRIL 17, 2007
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
Date of
report: April 17, 2007
Commission file number: 1-12874
TEEKAY SHIPPING CORPORATION
(Exact name of Registrant as specified in its charter)
Bayside House
Bayside Executive Park
West Bay Street & Blake Road
P.O. Box AP-59212, Nassau, The Bahamas
(Address of principal executive office)
[Indicate by check mark whether the registrant files or will file annual reports under cover
Form 20-F or Form 40-F.]
[Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(1): ]
[Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by
Regulation S-T Rule 101(b)(7): ]
[Indicate by check mark whether the registrant by furnishing the information contained in this
Form is also thereby furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934.]
[If “Yes” is marked, indicate below the file number assigned to the registrant in connection
with Rule 12g3-2(b):82- ]
Item 1 — Information Contained in this Form 6-K Report
Attached as Exhibit I is a copy of an announcement of Teekay Shipping Corporation (the “Company”), dated April 17, 2007.
THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE FOLLOWING REGISTRATION
STATEMENTS OF THE COMPANY.
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REGISTRATION STATEMENT ON FORM F-3 (NO. 33-97746) FILED WITH THE SEC ON OCTOBER 4, 1995; |
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REGISTRATION STATEMENT ON FORM S-8 (NO. 333-42434) FILED WITH THE SEC ON JULY 28, 2000; |
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REGISTRATION STATEMENT ON FORM F-3 (NO. 333-102594) FILED WITH THE SEC ON JANUARY 17, 2003; AND |
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REGISTRATION STATEMENT ON FORM S-8 (NO. 333-119564) FILED WITH THE SEC ON OCTOBER 6, 2004 |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly
caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
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TEEKAY SHIPPING CORPORATION
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| Date: April 17, 2007 |
By: |
/s/
Vincent Lok
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Vincent Lok |
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Senior Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer) |
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TEEKAY SHIPPING CORPORATION
Bayside House, Bayside Executive Park, West Bay Street & Blake Road
P.O. Box AP-59212, Nassau, Bahamas |
NEWS RELEASE
TEEKAY PLANS TO CREATE A NEW PUBLICLY-LISTED ENTITY
FOR ITS CONVENTIONAL TANKER BUSINESS
Nassau, The Bahamas, April 17, 2007 — Teekay Shipping Corporation (Teekay) (NYSE: TK) today
announced that it intends to create a new publicly-listed entity for its conventional tanker
business (Teekay Tankers). It is anticipated that Teekay Tankers will initially own a portion of
Teekay’s conventional tanker fleet. Furthermore, it is expected that Teekay Tanker’s primary
objective will be to grow through the acquisition of conventional tanker assets from third parties
and from Teekay, which may include the vessels to be acquired by Teekay from its planned
acquisition of 50 percent of OMI Corporation.
Teekay believes that creating Teekay Tankers as a separate public company will facilitate the
growth of Teekay’s conventional tanker business and further enhance Teekay’s innovative corporate
structure, which supports its strategy of creating value as an asset manager in the Marine
Midstream space.
Teekay expects to file with the U.S. Securities and Exchange Commission a registration statement
for the initial public offering of Teekay Tankers during the second half of 2007. The securities
may not be sold, nor may offers to buy be accepted, prior to the time the registration statement
becomes effective.
This news release does not constitute an offer to sell or the solicitation of an offer to buy any
securities, nor will there be any sale of these securities in any state or jurisdiction in which
such offer, solicitation or sale would be unlawful prior to registration or qualification under the
securities laws of any such state or jurisdiction.
About Teekay
Teekay Shipping Corporation transports more than 10 percent of the world’s seaborne oil, has
expanded into the liquefied natural gas shipping sector through its publicly-listed subsidiary,
Teekay LNG Partners L.P. (NYSE: TGP), and is further growing its operations in the offshore
production, storage and transportation sector through its publicly-listed subsidiary, Teekay
Offshore Partners L.P. (NYSE: TOO). With a fleet of over 155 vessels, offices in 17 countries and
5,600 seagoing and shore-based employees, Teekay provides a comprehensive set of marine services to
the world’s leading oil and gas companies, helping them seamlessly link their upstream energy
production to their downstream processing operations. Teekay’s reputation for safety, quality and
innovation has earned it a position with its customers as The Marine Midstream Company.
Teekay’s common stock is listed on the New York Stock Exchange where it trades under the symbol
“TK”.
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Forward-looking Statements
Statements in this press release that are not historical facts are forward-looking statements,
including statements about: the proposed offering, the effects thereof and the timing of filing a
registration statement relating to the offering; the subsequent acquisition of additional
conventional tankers from third parties and from Teekay; Teekay’s planned acquisition of OMI
Corporation; and the anticipated growth of Teekay’s conventional tanker business. Factors that
could cause actual results to differ materially from the forward-looking statements, which involve
risks and uncertainties, and that should be considered in evaluating these statements include: the
potential inability of Teekay in acquiring OMI; conditions in the United States capital markets;
changes affecting the conventional tanker market; and the need for the SEC to declare effective a
registration statement relating to the offering. Teekay expressly disclaims any obligation or
undertaking to release publicly any updates or revisions to any forward-looking statements to
reflect any change in its expectations or any change in events, conditions or circumstances on
which any such statement is based.
For Investor Relations enquiries contact:
Scott Gayton
Tel: +1 (604) 844-6654
For Media enquiries contact:
Kim Barbero
Tel: +1 (604) 609-4703
Web site: www.teekay.com
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