Austal Limited provided the following update on negotiations with the Philippines Navy (PN), Austal and the Australian Federal Government to construct Offshore Patrol Vessels (OPVs) for the PN at Austal's Philippines shipyard. Austal has been advised by the PN that the PN has now decided to sole-source foreign-built OPVs rather than proceeding to purchase Austal-built vessels facilitated through the Government to Government Memorandum of Understanding with the Commonwealth of Australia. Austal will now focus on securing orders for commercial ferries for its Philippines shipyard.