STX France has cancelled a contract with the Libyan state-owned CNMTC (General National Maritime Transport Company), run by Muammar Gaddafi's son, Hannibal Gaddafi, for the construction of a 140,000gt cruise ship. A ten per cent deposit was paid last summer, but a second payment, due on 15 May, which would have brought the balance to 25 per cent of the value of the ship, was not made, as the assets of the Libyan government have been globally frozen.
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