Teekay Corporation, together with its subsidiaries, provides crude oil and petroleum product transportation services worldwide. The company operates in four segments: Offshore, Fixed-Rate Tanker, Liquefied Gas, and Spot Tanker. The Offshore segment includes shuttle tanker operations; floating storage and off-take units; and floating production, storage, and offloading units. These vessels provide transportation, processing, and storage services to oil companies operating offshore oil field installations primarily in the North Sea under long-term fixed-rate time charter contracts. The Fixed-Rate Tanker segment includes conventional crude oil and product tankers on long-term fixed-rate time-charter contracts. The Liquefied Gas segment includes liquefied natural gas carriers and liquefied petroleum gas carriers subject to long-term fixed-rate time charter contracts. The Spot Tanker segment includes conventional crude oil tankers and product carriers operating in the spot market, or subject to time charters or contracts of affreightment priced on a spot-market basis or short-term fixed-rate contracts. As of December 31, 2007, the companyÂ’s fleet consisted of approximately 200 VLCC, Suezmax, small product, large product, and Aframax vessels. Its customers include energy and utility companies, oil traders, oil and natural gas consumers and petroleum product producers, government agencies, and various other entities that depend upon marine transportation. The company was founded in 1973 and is headquartered in Hamilton, Bermuda.
$13.08 (04/15/09)
