In this article, we propose a 3-dimensional framework for evaluating the costs of transporting goods between Europe and Asia, including direct transport, time, and Environmental Costs (ECs). We estimate the costs of alternative container transport routes, including direct sea transport via the Suez Canal Route (SCR) and the Northern Sea Route (NSR); direct rail connections via the Trans-Siberian Rail (TSR) and the Belt and Road Initiative (BRI), and intermodal transport options consisting of rail and sea transport legs. When considering environmental and Inventory Carrying Costs (ICs), the NSR is viable at least seasonally, whereas rail and intermodal alternatives remain more expensive. The results provide a robust estimate of the potential of alternative transport routes and modes. The inclusion of ECs in our analysis provides valuable new information to stakeholders on how to achieve the ambitious environmental goals while also considering the economic viability of different route options in Europe–Asia container trade.