THE enormous ships steaming into and out of the world's ports do not only carry cargo. They also represent paperwork: bills of lading (bols), packing lists, letters of credit, insurance policies, orders, invoices, sanitary certificates, certificates of origin. Maersk, the world's biggest contain-er-shipping line, found that a shipment of avocados from Mombasa to Rotterdam in 2014 entailed more than 200 communications involving 30 parties. A giant container vessel may be associated with hundreds of thousands of documents. "A Venetian merchant...would recognise some of our documentation," says John Laurens, head of global transaction services at DBS, a Singaporean bank.
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