The holes in this rib section is the result of boring clams (Pholadidea). Their bore holes are very commonly found on dugong rib sections, but I have never seen them on ivory. You can differentiate the ribs of other marine mammals like porpoises and whales from dugongs due to the density of the bone, which helps weigh down the dugong, allowing it to dive rather than float constantly as it would if it's bones were not solid. The same goes for manatees.
Dugong bones are solid, often times have clam bore holes, and will have growth rings (more like a series of half circles) on the broken cross-section (but not the crosshatching seen in ivory).