Company Overview of Teekay Shipping Limited
Teekay Shipping Limited operates fleet of tankers used for transportation of oil and gas. Teekay Shipping Limited is based in Nassau, Bahamas. Teekay Shipping Limited operates as a subsidiary of Teekay Corporation.
Bayside Executive Park
West Bay Street & Blake Road
P.O. Box AP-59212
Key Executives for Teekay Shipping Limited
Teekay Shipping Limited does not have any Key Executives recorded.
Teekay Shipping Limited Key Developments
Teekay Shipping and its Deckhands Settle Disputes with Labor Union But Engineers Set to Walk
Nov 11 14
Teekay Shipping and its deckhands have ended a bitter 18-month pay dispute that had threatened to bring Port Hedland port to a standstill, holding up $100 million a day in exports. The shipping giant and the Maritime Union of Australia each agreed to major concessions to reach a four-year pay deal. The agreement will be a major relief to resource giants, following BHP Billiton's call earlier this year to call for Federal Government intervention to stop a planned stoppage by deckhands, claiming it would have choked the port within three days. A one-day strike would have stopped iron ore exports from mining giants such as BHP, Fortescue Metals Group and Atlas. Teekay revealed it would give in to union demands to provide the deckhands four weeks' annual leave a year. The workers, who earn $137,000 a year, will not get a pay rise in the first year but will get 2% a year for the next three years. The deal was below the initial demand for an extra 20% over four years, which dropped to 11.9% in May. But Teekay is still facing a battle with its engineers, who are set to walk off the job for four hours November 12, 2014 morning. The engineers are just as crucial to operations as the deckhands and action could halt operations, though they have threatened shorter stoppages. The Australian Institute for Marine and Power Engineers and Teekay will meet at the Fair Work Commission in Perth on November 11, 2014 for last-minute talks. The major sticking point centres on overtime. The union claims that while the engineers are remunerated with overtime penalties, many were suffering serious fatigue and were regularly forced to work more than 12 hours in a shift.
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