I grew up playing Port Royale 2. This game is a huge disappointment compared to that, you don't need to ever trade manually, you can simply start out with a strong trade route on the first day that generates 20k gold each month. If you try to fight pirates, you need to get at least 400k-500k gold to spend on warships to have a chance of defeating the weakest convoys even on the first day they appear.
The campaign maps are horrible, they're just long tutorials (and can be finished within an hour or two).
If you haven't played PR2 and are looking for a trading sim, this game might be good for you, though I'd still recommend trying to get a working version of Port Royale 2 instead.
So, what does the game offer?
Trading around the Caribbean, production differs in each city, prices change with supply and demand.
Possibility to attack convoys and cities to plunder or even capture them.
Missions (get X amount of Y goods in a month, find something on the ocean with some hints and deliver it), treasure maps, random "drops" you might find in the water (and you have to spot it and pick it up because it disappears after some time).
Dynamic wars between the 4 nations, respect with each of them and reputation in every city (modifies possible missions).
Setting up production facilities in cities to create your own goods (which is cheaper than buying them, so more profit).
Events in cities like plague or gold rush, they modify production, life quality, demand for some resources.
Control over multiple fleets (based on rank), each having one or more ships, they can be set on automated traderoutes (very easy to set up a profitable one, once you've done it it's AFK Simulator 2000).
Mutliplayer (haven't tried it, can't say anything about it) - the only thing Port Royale 2 does not have.