DP World's H1 Volumes Rise

Ports operator DP World reported on Tuesday first-half 2016 gross container volumes up 1.2 percent on a like-for-like basis and up 2.5 percent on a reported basis.

The Dubai-based company handled 31.4 million twenty-foot equivalent units (TEU) with growth largely driven by strong performances at its European and Indian subcontinent terminals, according to a statement.

This growth offset "challenging" market conditions in Australia and Latin America, while the amount of TEUs it handled in its home market of the United Arab Emirates fell 6 percent year-on-year due to a reduction in lower-margin cargo.

Consolidated volumes, at terminals over which DP World has control, fell 1.4 percent on a like-for-like basis to 14.6 million TEU. On a reported basis though, it increased 1.6 percent. (Reporting by David French