Stormy conditions battering the ferries business of P&O showed little respite today as rival firms continued to slash prices on cross-Channel routes.

Ports and ferries group P&O today reported bumper business at its container terminals but said a downturn in tourism had continued into 2004.

UK-based Ports and ferries group P&O said today its key Dover-Calais route had struggled to cash in on the peak tourist season.