Teekay Corp. provides set of marine services through transporting crude oil and petroleum product to oil companies, oil traders and government agencies. It offers offshore oil production, storage and offloading services, primarily under long term, fixed rate contracts. It operates through four segments: Shuttle Tanker & FSO, Floating Production, Storage and Offloading, Liquefied Gas, Conventional Tanker. The Shuttle Tanker and FSO, segment consists of shuttle tankers and FSO units. The Floating Production, Storage and Offloading segment consists of FPSO units and other vessels used to service its FPSO contracts. The Liquefied Gas segment consists of LNG and LPG carriers. The Conventional Tanker segment consists of conventional crude oil and product tankers. The company was founded by J. Torben Karlshoej in 1973 and is headquartered in Hamilton, Bermuda.