Neptune Orient Lines (NOL) is relocating its Americas regional headquarters to the greater Phoenix area in Arizona from its present location in Oakland, California, during the second half of the year. The move, mainly to cut costs, is expected to be completed by the third quarter. 'The headquarters shift is part of NOL's global strategy to place its cost structure on a more sustainable footing in the face of the current economic downturn, while continuing to provide the highest standards of service to its customers,' NOL said. 'We're excited to announce that Arizona will be the new home for our regional headquarters,' said NOL's regional president for the Americas, John Bowe. 'The greater Phoenix area will be a cost-effective base of operations for us and we're going to a state that is well-known for its support and encouragement of business.' The relocation is the latest in a series of cost-saving measures NOL has put in place over the past few months amid the deepening global slowdown in container trade. Other initiatives undertaken by the group include reducing capacity in its major ocean trade lanes, cutting jobs, laying up ships and restructuring its logistics business.