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: October 4, 2006
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, 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 if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1).
|
Yes
|
No
|
X
|
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).
|
Yes
|
No
|
X
|
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 October 4, 2006.
THIS
REPORT ON FORM 6-K IS HEREBY INCORPORATED BY REFERENCE INTO THE FOLLOWING
REGISTRATION STATEMENTS OF THE COMPANY.
•
REGISTRATION STATEMENT ON FORM F-3 (NO. 33-97746) FILED WITH THE SEC ON OCTOBER
4, 1995;
• REGISTRATION STATEMENT ON FORM S-8 (NO. 333-42434) FILED WITH THE SEC ON JULY 28, 2000;
• REGISTRATION STATEMENT ON FORM F-3 (NO. 333-102594) FILED WITH THE SEC ON JANUARY 17, 2003; AND
• REGISTRATION STATEMENT ON FORM S-8 (NO. 333-119564) FILED WITH THE SEC ON OCTOBER 6, 2004
• REGISTRATION STATEMENT ON FORM S-8 (NO. 333-42434) FILED WITH THE SEC ON JULY 28, 2000;
• REGISTRATION STATEMENT ON FORM F-3 (NO. 333-102594) FILED WITH THE SEC ON JANUARY 17, 2003; AND
• 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.
|
Date:
October 4, 2006
|
TEEKAY
SHIPPING CORPORATION
By: /s/
Peter
Evensen
Peter
Evensen
Executive Vice President and Chief Financial Officer
(Principal Financial and Accounting Officer)
|
EXHIBIT
I
 |
TEEKAY
SHIPPING CORPORATION
Bayside
House, Bayside Executive Park, West Bay Street & Blake
Road
P.O.
Box AP-59212, Nassau, Bahamas
|
NEWS
RELEASE
|
TEEKAY
INCREASES DIVIDEND BY 14 PERCENT;
FOURTH
CONSECUTIVE YEARLY
INCREASE
|
Nassau,
The Bahamas, October 4, 2006 - Teekay Shipping Corporation (Teekay)
(NYSE:
TK) announced today that its Board of Directors has voted to declare a
cash
dividend on its common stock of $0.2375 per share, representing a 14 percent
increase over the previous quarterly dividend of $0.2075 per share. The
dividend
will be paid on October 27, 2006 to all shareholders of record as at October
13,
2006.
“We
are
pleased to announce the fourth consecutive yearly increase in Teekay’s
dividend,” commented Bjorn Moller, Teekay’s President and Chief Executive
Officer. Mr. Moller continued, “During the past four years, we have increased
our annual dividend by over 120 percent, from $0.43 per share to $0.95
per
share, primarily as a result of the rapid growth of our fixed-rate businesses.
Going forward, we will evaluate possible future dividend increases based
mainly
on our free cash flow generation.”
About
Teekay
Teekay
Shipping Corporation transports more than 10 percent of the world’s seaborne oil
and has expanded into the liquefied natural gas shipping sector through
its
publicly-listed subsidiary, Teekay LNG Partners L.P. (NYSE: TGP). With
a fleet
of over 145 tankers, offices in 17 countries and 5,100 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”.
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
-
end -