Cosco Container Lines Americas is planning to close several regional offices, including its location in North Charleston as part of a restructuring and consolidation plan announced this week.
In addition to the space on Lacross Road in North Charleston, Cosco is planning to shutter offices in Boston, Chicago, New York, Norfolk, San Francisco and Seattle for the formation of a North America Operation Center, officials said.
Cosco officials added that services will be uninterrupted during the restructuring, which is expected to be completed by this year.
Cosco provides cargo vessel services to several ports along the East Coast, including Port of Charleston.
The company has not named a location for the new centralized location, but customer service and operation functions will be performed from the Cosco Container Lines Americas' location in Secaucus, N.J., according to a written statement.
"(Cosco) believe that the restructuring will improve overall performance and efficiency of the company and the company will also be able to provide superior value-added service to its customers," according to the statement.
The company's restructuring comes as shippers continue to seek ways to lessen costs amid declining volume growth and over-capacity.
Some cargo ship operators are seeking to form vessel-sharing agreements as a way to improve efficiency and lessen overall costs to ship cargo containers.
Operators have already implemented other means to slim costs, including slowing vessels to save on costly fuel.
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