LONDON – The World Container Index tracking indicator from shipping analytics firm Drewry fell 0.9% this week to $7,657.20 per 40-foot container. The index has been dropping since August but is still 33.7% higher than a year ago.

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The index’s average for year-to-date is $8,768 per 40-foot container, which is $5,439 higher than the five-year average of $3,329.

Freight rates from Shanghai to Rotterdam dropped 2% or $163 to $9,824. Spot rates from Shanghai to New York fell 3% or $338 to $10,926. Similarly, rates from Shanghai to Genoa dipped 1% or $172 to $11,736, while rates from Rotterdam to Shanghai fell $21 to $1,430.

Rates from Shanghai to Los Angeles and from Los Angeles to Shanghai actually increased 1% to reach $8,666 and $1,286, respectively. Rates from Rotterdam to New York and New York to Rotterdam hovered around the previous week’s level.

Drewry says it expects spot rates to remain stable in the coming weeks.