Hong Kong Multimodal Freight Index (HKMFI)

Hong Kong Multimodal Freight Index (HKMFI)

A New Benchmark for Belt and Road Trade

Hong Kong has an opportunity to establish a new international benchmark for global trade — the Hong Kong Multimodal Freight Index (HKMFI).

Today, established freight indices primarily focus on individual transport modes. A prominent example is the Shanghai Containerized Freight Index (SCFI), published by the Shanghai Shipping Exchange, which has become an important benchmark for the maritime container freight market.

However, Belt and Road trade is inherently multimodal. A single shipment between Asia and Europe may combine road, rail, sea, terminals and multiple cross-border operations. Yet there is no widely recognised benchmark reflecting the cost and performance of these complete end-to-end multimodal transportation chains.

Proven technology as a foundation

HKMFI could be built on Maxmodal’s multimodal network technology, which standardises freight rates from different providers and transport modes and connects them into complete end-to-end transportation chains.

The technology has already been demonstrated through the Maxmodal Silk Road Index (MSRI) — the world’s first multimodal container freight index — covering routes connecting China, including the Greater Bay Area, with Central Asia and Europe. The concept was subsequently extended through the Maxmodal Suez Canal Index (MSCI), enabling comparison between overland Silk Road and deep-sea routes within a common analytical framework.

The initiative has also received recognition in Europe: RailFreight.com supported the launch of MSRI, followed by Maxmodal’s participation at the European Silk Road Summit in Milan in November 2025.

RailFreight.com — “A New Benchmark for Multimodal Freight Performance Across Eurasian Corridors”

Maxmodal is a Hong Kong technology company and a participant in the Cyberport Incubation Programme. With the support of Cyberport, we see an opportunity to bring this technology and international experience to Hong Kong.

Why Hong Kong?

Building on Shanghai’s precedent in maritime freight benchmarking, Hong Kong could pioneer the next generation of freight benchmarks — multimodal, international and focused on complete Belt and Road supply chains.

Initially, HKMFI could benchmark key corridors connecting the Greater Bay Area with Central Asia and Europe. Over time, it could expand beyond freight rates to include transit time, congestion, service quality, sustainability and operational efficiency.

With sufficient data depth, market adoption and institutional recognition, HKMFI could eventually provide a foundation for predictive analytics and financial instruments for hedging freight-rate and international trade price risks — connecting Hong Kong’s strengths in international trade, logistics and financial markets.

Proposal

We propose exploring the joint development and launch of the Hong Kong Multimodal Freight Index (HKMFI) with the Hong Kong Government and Hong Kong Exchanges and Clearing (HKEX), with the support of Cyberport and using Maxmodal’s proven multimodal technology as the technological foundation.

This initiative could strengthen Hong Kong’s role not only as a gateway for Belt and Road trade, but also as a centre for multimodal data, analytics, risk management and financial innovation.

We are open to discussing the concept, institutional framework, methodology and potential pilot with the Hong Kong Government, HKEX, Cyberport and relevant industry and financial stakeholders.