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mon stock of Ocean Rig UDW Inc., a global provider of offshore ultra deepwa- ter drilling services that is 78% owned by DryShips. The Ocean Rig shares that will be received by the OceanFreight share- holders will be from currently outstand-ing shares held by DryShips. Based onthe July 25, 2011 closing price of $16.44for the shares of Ocean Rig on the Nor- wegian OTC, the transaction reflects a total enterprise value of $239m, includ- ing the assumption of debt.International Offshore selects MarineCFOMarineCFO said that International Off- shore Services has chosen to implementthe full MarineCFO Enterprise software suite. Through its wholly owned sub- sidiaries International Offshore Services provides a comprehensive range of off- shore services including constructionbarges and offshore support vessels. International Offshore Services em- ploys more than 450 individuals. Travelers Marine Construction Program for Contractors Whether building piers and docks, repairing bridges or retro-fitting port facilities, construction contractors experienced in work- ing along the waterfront are in de- mand. To help construction contractors manage both the ma-rine and non-marine exposures that come with working in and around the water, Travelers has developed the Marine Construc- tion program, an insurance pack-age that combines specializedunderwriting, risk mitigation so- lutions and claim services.?Construction contractors whowork around the waterfront face a number of complex risks when managing marine, non-marineand contractual liability expo- sures,? said Virginia Cameron, Chief Underwriting Officer, Trav- elers Ocean Marine. ?Travelers combined its expertise and expe- rience in the marine and construc-tion industries to create anextensivecombination of insur- ance, risk management and claimservices for construction contrac-tors working in and around the water.? It can be customized: Marine General Liability coverage for products and com- pleted operations liability forwork performed from watercraft Marine Contractors Liability coverage for property damage to marine structures under construc-tion while in the insured?s care, custody or controlBumbershoo t providing ex- cess liability protection over both marine and non-marine cover- ages, including auto, and generaland employer?s liability Commercial Hull and Protec- tion and Indemnity (P&I)? pro-viding physical damage and liability protection for owned ves- selsContractors Equipment ? in-cluding protection while water- borne Email: [email protected] August 2011www.marinelink.com 51MR Aug. 11 # 7 (50-56):MR Template 8/4/2011 10:15 AM Page 51