The Maxmodal Silk Road Index (MSRI) and the Maxmodal Suez Canal Index (MSCI) both increased in November 2025. Western Black Sea-Europe routes drove most of the overland gains while deep-sea repricing pushed up Suez-linked rates. The MSRI rose by 0.78 per cent for 20-foot containers and 0.80 per cent for 40-foot units. The MSCI jumped by 7.94 per cent and 9.33 per cent respectively.
The MSRI has officially been launched as the world's first truly multimodal container index. It sets 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.
November 2025 data indicates that Black Sea routes are stabilising with both northern and southern rail connections. The Constanta-Varna-Burgas-Poti ferry system is meeting demand driven by the Red Sea crisis. In the same period, the surge in MSCI stemmed from the extended duration of Cape of Good Hope rerouting and rising bunker fuel costs. This dynamic suggests the sea-land price gap will continue to narrow — an important development affecting shippers' modal choice decisions.
Key Takeaways:
1. Maxmodal MSRI and MSCI indexes both climbed in November 2025.
2. MSRI rose 0.78% for 20-foot and 0.80% for 40-foot containers.
3. MSCI jumped more sharply: 7.94% and 9.33% respectively.
4. Western Black Sea-Europe routes drove most of the overland gains.
5. The sea-land price gap is expected to continue narrowing.
