The Mariners missed the bus after failing to press home their first half advantage having only a 17th minute penalty to show for their efforts.
Referee Uriah Rennie ruled that Jimmy McNulty had pushed debutant Danny Boshell as he flew threw the air from a corner and midfielder Ciaran Toner made no mistake from the spot, sending keeper Jonny Brain the wrong way.
Against a poor Macclesfield side Grimsby should have pushed on from this advantage after scoring first in a game for the first time this season.
But early in the second half their defensive frailties showed up when Carl Regan crossed from the right and an unmarked Teague headed into the net.
A minute later however, Macclesfield were indebted to their keeper for an instinctive save when he turned a goal bound Boshell header over the bar.
Macclesfield showed much improvement from the first half and, as Grimsby got more and more ragged, it was the visitors that might have snatched all three points.
While it was probably a point that neither side wanted, it will have been of more use to Macclesfield, who started the game in bottom place.
For Grimsby the disappointment goes on for, after winning their first game, they have now gone five games without a win to be perilously close to the foot of the table.
For Macclesfield, who lost a lot of players in the summer, there were signs that they are picking up and they would feel this is a good point to secure as Grimsby are unbeaten at home this season.
Next up for Grimsby is a difficult looking home against Walsall and manager Graham Rodger must be hoping that they can get the breaks and start to climb up the table.