Teekay Has Turned 50 Years-Old, a Small Company who Became Big

Photo credit: Teekay / Axel (left) and Torben share a quiet moment at their father’s 75th birthday celebration. Axel Karlshoej

Teekay has turned 50 Years old, an incredible feat that would not have been possible without the dedication and contribution of the Teekay family.

Teekay was founded in 1973 by Torben Karlshoej, whose initials give the company’s name. Under Torben’s leadership, Teekay grew from a tanker operator to an operational leader and successful vessel owner in the conventional shipping market.

Torben Karlshoej started a small company with a big dream.

Torben founded in New York the Teekay Shipping Group as a tanker operator. He moved his operations to California focusing on tanker trading in the Indo Pacific region.  

Teekay’s founder earned a reputation as a quality operator of Aframaxes. In 1976, he chartered the first vessel for 3,800 US dollars per day.

Torben evolved from charterer to owner and in 1985 Teekay purchased its first owned vessel Golden Gate Sun, while in 1992, Teekay’s fleet increased to 49 vessels.

Torben passed away unexpectedly on October 3, 1992, leaving a powerful legacy behind. Teekay Spirit values represent the principles that Torben lived by and expected of all employees at sea and on shore.

Axel Karlshoej, the older brother to Torben Karlshoej and also a remarkable leader of the company after the founder’s death, stepped up to ensure Torben’s dream of building the world’s leading shipping company lived on.

Video Credit: Teekay

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