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: February 22, 2002

                           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 Teekay Shipping Corporation's Earnings
Release, dated February 20, 2002, for the quarter ended December 31, 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 FILED WITH THE COMMISSION ON JANUARY 17, 2002.


                                   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: February 22, 2002                 By: /s/ Peter S. Antturi
                                            ------------------------------------
                                            Peter S. Antturi
                                            Vice President and Chief
                                            Financial Officer