{"id":323245,"date":"2025-11-26T17:45:07","date_gmt":"2025-11-26T07:45:07","guid":{"rendered":"https:\/\/www.railfreight.com\/?p=67555"},"modified":"2025-11-26T17:45:07","modified_gmt":"2025-11-26T07:45:07","slug":"data-of-the-week-overland-rates-rise-as-maritime-markets-weaken","status":"publish","type":"post","link":"https:\/\/www.vibewire.com.au\/?p=323245","title":{"rendered":"Data of the week: Overland rates rise as maritime markets weaken"},"content":{"rendered":"

In October 2025, the Maxmodal Silk Road Index (MSRI) continued its steady upward trend, increasing by 1.23% for 20-foot containers and 0.91% for 40-foot containers. Growth was driven primarily by higher rates along the Kashgar\u2013Andijan corridor, where seasonal demand and temporary weather-related delays pushed prices higher.<\/strong>
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The Maxmodal Silk Road Index (MSRI)<\/strong> has officially been launched as the world\u2019s first truly multimodal container index, setting a new benchmark for measuring, comparing, and understanding freight performance across the Eurasian transport network. Unlike traditional indices focused only on ocean shipping, the MSRI integrates real costs from rail, road, sea, ferry, and terminal handling, providing a comprehensive picture of container movements from inland China to inland Europe.<\/div>\n

In contrast, the newly introduced Maxmodal Suez Canal Index (MSCI) \u2014 which tracks combined deep-sea and rail connections via the Suez Canal \u2014 declined by 1.82% (20\u2019) and 2.01% (40\u2019), reflecting weakness in deep-sea freight markets, subdued European imports and vessel overcapacity.<\/p>\n

The rate spread between MSRI and MSCI widened further, highlighting diverging trends between resilient overland corridors and declining maritime rates.<\/p>\n

\"Rate
Rate spread between MSRI and MSCI. Data: \u00a9 Maxmodal.<\/figcaption><\/figure>\n

Central Asia leads growth in overland freight<\/h2>\n

The China Border\u2013Caspian section accounted for nearly all MSRI growth in October, contributing almost 98% of the total index expansion. This was largely due to a 14% rise in rates on the Kashgar\u2013Andijan route, where stronger seasonal demand and higher cross-border service costs pushed up prices. According to UzContargo Andijon: \u201cDespite brief weather-related delays in the mountain passes, truck availability remained sufficient, ensuring stable service reliability across the corridor\u201d.<\/p>\n

\"Data:
Data: \u00a9 Maxmodal.<\/figcaption><\/figure>\n

Other inland and Caspian segments, including Alat\u2013Poti, Altynkol\u2013Aktau and Akhalkalaki\u2013Duisburg, saw smaller gains, while Black Sea\u2013linked routes experienced moderate declines (\u20138.7%) due to weak maritime markets.<\/p>\n

\"Chart:
Chart: Flourish.com. Data: \u00a9 Maxmodal.<\/figcaption><\/figure>\n

Maritime weakness drags down the MSCI<\/h2>\n

The MSCI fell sharply in October, primarily due to persistent softness on Asia\u2013Europe deep-sea routes. Rates dropped to USD 3,022 (20\u2019) and USD 4,225 (40\u2019) per container. The Shenzhen\u2013Antwerp (33%), Shenzhen\u2013Hamburg (29%), and Shanghai\u2013Rotterdam (17%) routes were the main contributors to the decline.<\/p>\n

\"Chart:
Chart: Flourish.com. Data: \u00a9 Maxmodal.<\/figcaption><\/figure>\n

Deep-sea reductions dominated overall movements, while inland European connections such as Antwerp\u2013Duisburg (\u201324%) and Rotterdam\u2013Duisburg (\u201310%) provided limited stability through steady rail and terminal operations. Overall, deep-sea rates remain under heavy pressure from overcapacity and muted European demand.<\/p>\n

Regional performance<\/h2>\n