6-K

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: November 29, 2001

TEEKAY SHIPPING CORPORATION
(Exact name of Registrant as specified in its charter)

TK House
Bayside Executive Park
West Bay Street & Blake Road
P.O. Box AP-59213, Nassau, 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.]

Form 20-F    X       Form 40-F           

     [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.]

Yes              No    X   

     [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 November 28, 2001.

THIS REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE REGISTRATION STATEMENTS OF THE COMPANY ON FORM F-3 FILED WITH THE COMMISSION ON OCTOBER 4, 1995, ON FORM F-4 FILED WITH THE COMMISSION ON JULY 11, 2001, AND ON FORM F-4, AS AMENDED, FILED WITH THE COMMISSION ON AUGUST 3, 2001.

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.

		TEEKAY SHIPPING CORPORATION
Date:	November 29, 2001	By: /s/ Peter S. Antturi Peter S. Antturi Vice President and Chief Financial Officer

EX-1 4 o06106ex1.htm ANNOUNCEMENT OF ADD-ON OFFERING

Ex. I

[Logo] TEEKAY SHIPPING CORPORATION
TK House, Bayside Executive Park, West Bay Street & Blake Road
P.O. Box AP-59212, Nassau, Bahamas

NEWS RELEASE

FOR IMMEDIATE RELEASE

TEEKAY SHIPPING ANNOUNCES
ADD-ON OFFERING

Nassau, The Bahamas — November 28, 2001 — Teekay Shipping Corporation (NYSE: TK) today announced that it intends to offer up to an additional $100 million principal amount of 8.875% Senior Notes due July 15, 2011. These notes would have substantially the same terms as Teekay’s recently issued Senior Notes due July 15, 2011. The net proceeds of this additional issuance are expected to be used to repay existing secured revolving debt.

The additional notes have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States absent registration or applicable exemption from such registration requirements.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of the notes in any state or jurisdiction where such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

For Investor Relations enquiries contact:
Greg Romaniuk

Tel: +1 (604) 844-6654
Fax: +1 (604) 681-3011

Email: investor.relations@teekay.com

Website: www.teekay.com

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EX-1

Announcement of Add-on Offering