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THE CREDIT CRUNCH AND SHIPBUILDING
World shipyards have a record order backlog. What effect will the global credit crunch have?

No effect
A slow down in new orders
Cancellation of some existing orders
Cancellation of many exisiting orders

Marine Log

April 4, 2008

Ocean Rig has a new CEO

Ocean Rig has appointed David Mullen as its new CEO.

Mullen was oreviously Senior Vice President of Transocean Inc. with responsibility for all world wide marketing, corporate strategy and M&A activities. Prior to that he was Vice President of Transocean's North & South America business unit for Transocean, with responsibility for directing operations and strategic direction of business operations.

Between 2001 and 2004 David Mullen was president of Schlumberger Oilfield Services, North & South America. Based in Sugarland, Texas, he was responsible for strategic direction of business operations in the United States, Canada, Mexico, the Caribbean and Central and South America.

Mullen's earlier jobs include VP of Human Resources for Transocean Sedco Forex, Inc., director of personnel for Geco-Prakla, managing director of Schlumberger (Nigeria) Ltd., district manager for Eastern Venezuela, Wireline & Testing, and several other field assignments. He began his career with Schlumberger in 1983.

David Mullen holds a degree in geology from Trinity College, Dublin, and a master`s degree in geophysics from the University College of Galway, Ireland.

He will take up his new position on May 1, 2008.

Ocean Rig owns and operates two of the world's largest offshore drilling rigs, built for ultra deepwater and extreme weather conditions. The units are currently operating in the U.S. Gulf of Mexico and in the North Sea

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