Product details

Teekay Corporation grew quickly from its founding as an operator of oil tankers in 1973. It soon started its own fleet which expanded to 60 by the time the founder died in the early 1990s. A 1995 IPO allowed the company to benefit from accessing capital markets. Within 10 years, Teekay became the master of the 'marine midstream' concept in the tanker segment. That is, the transportation arena between oil and gas producing areas and downstream refineries, processing and distribution facilities. Shuttle tankers, floating production, storage and offtake units and transportation solutions for liquefied petroleum gas and compressed natural gas were in the firm's field of expertise. Besides carving a niche for itself in the energy industry, Teekay pursued differentiating capital markets and financial innovations. The company's organisational strategies and approach to funding were all designed to make the innate value of the firm's total operations visible to investors. In this way, the firm could grow most efficiently and without limitations.