Pathway Raises $10M to Develop 'Live AI' Systems that Think and Learn in Real-Time
Pathway secures $10 million in Seed funding to build live AI systems that can learn and adapt in real-time, addressing a major limitation of current AI technology.
Taylor Brooks
The PTML Terminal in Lagos, Nigeria, West Africa's largest multipurpose RO/RO terminal, has made history by receiving its first container-roll-on/roll-off (Con-Ro) vessel from China. The MV Great Cotonou, operated by Grimaldi Group, offers a direct service from Shanghai to Lagos, boasting an unprecedented 27-day transit time.
This pioneering service revolutionizes regional trade, eliminating intermediary transshipments and enabling Nigerian importers to receive faster and more reliable delivery, minimizing delays and additional handling costs. The vessel's impressive capacity allows it to transport 4,700 linear meters of rolling freight, 2,500 CEU, and 2,000 TEU, making it an attractive solution for Nigerian traders.
The new route offers a convenient and efficient solution, enabling Nigerian businesses to consolidate their cargo needs, streamlining their logistics and supply chain operations. According to Ascanio Russo, Managing Director of PTML, the vessel will drastically cut transit times and logistics costs, while offering unparalleled convenience by allowing multiple cargo types to be shipped together.
Russo hailed the vessel's arrival as a game-changer for Nigerian importers, stating, "We have the infrastructure, the expertise, the human capital and we will offer a great service to our importers and exporters. The arrival of this ship will definitely create many more opportunities for our terminal, workers, host community, and Nigeria as a whole."
The arrival of the MV Great Cotonou marks a significant step forward in strengthening Nigeria's trade relations with China and other regions. Nigeria's cargo import trade route has experienced notable successes in recent years, with numerous valuable shipments arriving in the country. Last year, APM Terminals in Apapa, Lagos, made history by welcoming the EA Centaurus, the largest container vessel to ever call at the Lagos Port Complex.
The EA Centaurus' arrival generated significant excitement, signaling substantial investment opportunities for Nigeria. The vessel's cargo included essential economic commodities, creating a lucrative opening for growth and expansion in the region. The MV Great Cotonou's arrival is expected to further boost trade relations between Nigeria and China, enhancing logistics efficiency and reducing transit times.
The implications of this new direct cargo vessel service are far-reaching, with potential benefits extending to other African countries. As Nigeria strengthens its trade relations with China, it is likely to have a positive impact on regional trade, stimulating economic growth and development.
In conclusion, the arrival of the MV Great Cotonou at the PTML Terminal in Lagos marks a significant milestone in Nigeria's maritime trade history, paving the way for faster, more reliable, and efficient cargo transportation between China and Nigeria. As trade relations between the two nations continue to strengthen, it is likely to have a positive impact on the region's economic landscape.
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