Haulage companies are increasingly concerned about the future of road freight in northern Europe, it seems.

According to Danske Bank's latest freight forwarding index, businesses are not optimistic about growth in the sector in the coming months, the Loadstar reports.

Although overall confidence levels in the cargo transportation industry were up to 63 on the barometer for May - up from just 50 last month - road haulage specialists only posted a score of 57 for June and 47 for July. Any reading below 50 represents a contraction in predicted activity.

This report ties in with recent research by IBISWorld that showed the road freight industry will continue to face many challenges between now and 2019, with fuel costs being a particularly prominent issue.

The Danske Bank study also indicated that logistics companies are looking to diversify their offerings by placing less emphasis on road transportation. Many firms are now focusing on other areas such as rail freight and air cargo.