|Exchange:||New York Stock Exchange|
|Industry:||Shipping & Ports|
|Teekay Corporation founded in 1973 and was incorporated under the laws of the Republic of The Marshall. The Company is a provider of crude oil and gas marine transportation services and it also offers offshore oil production, storage and offloading services, mainly under long-term, fixed-rate contracts. The Company has four segments: the shuttle tanker and FSO segment, the FPSO segment, the liquefied gas segment, and the conventional tanker segment. Its shuttle tanker and FSO segment and its FPSO segment include its shuttle tanker operations, floating storage and off-take (or FSO) units, and its floating production, storage and offloading (or FPSO) units, which mainly operates under long-term fixed-rate contracts. As of December 31, 2012, its shuttle tanker fleet, including newbuildings on order, had a total cargo capacity of approximately 4.8 million deadweight tonnes (or dwt ), which represented approximately 40% of the total tonnage of the world shuttle tanker fleet. Its liquefied gas segment includes its LNG and LPG carriers. Substantially all of its LNG and LPG carriers are subject to long-term, fixed-rate charter contracts. As of December 31, 2012, this fleet, including newbuildings on order, had a total cargo carrying capacity of approximately 4.6 million cubic meters. Its conventional tanker segment includes its conventional crude oil tankers and product carriers. In order to provide investors with additional information about its conventional tanker segment, it has divided this operating segment into the fixed-rate tanker sub-segment and the spot tanker sub-segment. Its spot tanker sub-segment consists of conventional crude oil tankers and product tankers operating in the spot-tanker market or subject to time-charters or contracts of affreightment that are priced on a spot-market basis or are short-term, fixed-rate contracts. Its conventional Aframax, Suezmax, and large and medium product tankers are among the vessels included in the spot tanker sub-segment. Its fixed-rate tanker sub-segment includes its conventional crude oil and product tankers on fixed-rate time-charter contracts with an initial duration of at least one year. The Company’s main competitors include other vessel owners, including oil companies and independent companies.|
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