TORBEN ERA1 9 7 3 - 1 9 9 2

T H E T E E K A Y E V O L U T I O N

Founded the Teekay Shipping Group as a tanker operator

1973

Chartered first vessel for $3,800/day

1976

WHITE PEONY

Launched an ambitious ship building and acquistion program adding another 30 vessels at $1.4 billion over six years

First newbuilding Frontier Spirit delivered

1987

Moved operations to Vancouver

1991Teekay’s fleet increased to 49 vessels

1992

150+ vessels

The ‘TK’ LegacyContinuing to grow with Teekay spirit

$11+ billion in assets4 publicly traded entities

Operating in diverse sectors

1980’S EVOLVED FROM CHARTERER TO OWNERTO ENSURE QUALITY VESSELS WERE AVAILABLE ON THE MARKET

CONTINUING GROWTH

Earned a reputation as a quality operator of Aframaxes

Moved operations to California to focus on tanker trading in the Indo Pacific region.He was opportunistic & willing to take a risk.

TIMELINE

CALIFORNIANEW YORK

VANCOUVER

Company revenues climbed

$

Pioneered by our founder

wit

h h

is for the sea& ships

JENS TORBEN KARLSHOEJ

LIFELONGPASSION

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Torben Karlshoej left behind a world class management team to continue his dream...

Had a special bond with seafarers. To Torben, his Captains and Chief Engineers were his sea-going VICE PRESIDENTS

Built Teekay with hisENTREPRENEURIAL SPIRIT PASSION for

DOING IT RIGHT!

&Jens Torben Karlshoej

Purchased first owned vessel Golden Gate Sun

GOLDEN GATE SUN

Signed a deal with SANKO to charter 12 vessels on a two year contract

1985

BRINGING ENERGY TO THE WORLD

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