<DOCUMENT>
<TYPE>SC 13G
<SEQUENCE>1
<FILENAME>teekay.txt
<DESCRIPTION>FILING OF OWNERSHIP AS OF 12/31/00
<TEXT>





UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549


SCHEDULE 13G

Under the Securities and Exchange Act of 1934
(Amendment No. __________)*

Teekay Shipping Corp.
(Name of Issuer)

 Common Stock
(Name of Class of Securities)

 Y8564W103
(CUSIP Number)


Check the following box if a fee is being paid with this statement
    (A fee is not required only if the filing person:  (1) has a
previous statement on file reporting beneficial ownership of more than
five percent of the class of securities described in Item 1; and (2)
has filed no amendment subsequent thereto reporting beneficial
ownership of five percent or less of such class.) (See Rule 13d-7).

*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class
of securities, and for any subsequent amendment containing information
which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not
be deemed to be "filed" for the purpose of Section 18 of the
Securities Exchange Act of 1934 ("Act") or otherwise subject to the
liabilities of that section of the Act but shall be subject to all
other provisions of the Act (however, see the Notes).

CUSIP # Y8564W103		SCHEDULE 13G	     Page 2 of 4

1.	NAME OF REPORTING PERSON
	S.S. OR IRS IDENTIFICATION NO. OF ABOVE PERSON

		Donald Smith & Co., Inc.    13-2807845

2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a) [ ]
(b) [X]

3. SEC USE ONLY

4. CITIZENSHIP OR PLACE OF ORGANIZATION

A Delaware Corporation

5. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE VOTING POWER:
	55,000 Shares

6. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED VOTING POWER:
0 Shares

7. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SOLE DISPOSITIVE POWER:
	55,000  Shares

8. NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH
SHARED DISPOSITIVE POWER:
	0 Shares

9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
55,000  Shares

10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN
SHARES

11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9:

Less than 5%

12.  TYPE OF REPORTING PERSON:		IA


	SCHEDULE 13G		Page 3 of 4

Item 1(a)	Name of Issuer:
		                  Teekay Shipping Corp.

Item 1(b)	Address of Issuer's Principal Executive Offices:
		 		1400-505 Burrard Street
Vancouver, B.C.
Canada V7x 1M5

Item 2(a)	Name of Person Filing:
	Donald Smith & Co., Inc.

Item 2(b)	Address of Principal Business Office:
East 80 Route 4 - Suite 360
		Paramus, New Jersey  07652

Item 2(c)	Citizenship:  A Delaware Corporation
Item 2(d)	Title of Class of Securities: Common
Item 2(e)	CUSIP Number: Y8564W103
Item 3. This statement is filed pursuant to Rule 13d-1 (b),
and the person filing is an investment advisor registered
under section 203 of the Investment Advisors Act of 1940.

Item 4(a):	55,0000 Shares Beneficially Owned
Item 4(b):	Less than 5.0% of class
Item 4(c)
   (i)	55,0000  sh. (sole power to vote)
   (ii)	0 sh (shared power to vote)
   (iii)	55,0000  sh. (Sole power to dispose)
(iv) 0 shares (shared power to dispose)

Item 5     OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS
	If this statement is being filed to report
the fact that as of the date hereof the reporting person has
ceased to be the beneficial owner of more than five percent
of the class of securities, check the following [X]


Item 6	OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF
ANOTHER PERSON

	N/A

SCHEDULE 13G		Page 4 of 4

Item 7   IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY
WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT
HOLDING COMPANY

	Not applicable

Item 8    IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF
THE GROUP

	Not applicable

Item 9     NOTICE OF DISSOLUTION OF GROUP
	Not applicable

Item 10

	By signing below, I certify that, to the best of my knowledge
and belief, the securities referred to above were acquired in the
ordinary course of business and were not acquired for the purpose of
and do not have the effect of changing or influencing the control of
the issuer of such securities and were not acquired in connection with
or as a participant in any transaction having such purposes or effect.

	After reasonable inquiry and to the best of my knowledge and
belief, I certify that the information set forth in this statement is
true, complete and correct.

Date:	February 5, 2001

/s/ Donald Smith

Name:   Donald Smith
Title:  President

</TEXT>
</DOCUMENT>
