Yes, and from previous experience the quantity shipped is dependant on ships in the stack not ships in the trade theatre.
So, five ships in a stack on a single trade post in the East Indies ship 88 spice bales. But if I were to split the stack and place each ship on a different trade posts I would ship 100 spice bales.
It just happens that in this campaign I'm restricting myself to one trade post per theatre, to see what impact it has on the naval campaign.
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