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Can someone please briefly describe the differences between basic and advanced versions of the game?
Don't know if you still want the answer but anyway, the main difference seems:
Basic: Fixed setup in where your sailors & merchants go. No 'promises' in what year you'll deliver a contract.
Advanced: More flexible setup in where sailors & merchants go ('ones' first, then 'two's, then three's). When you claim a contract, you'll state the year of deliverance. Other players can still 'steal' a contract by promising to do so earlier. Penalty if goods are not delivered on time.
Theoretically you could play the advanced game without placing sailors & merchants, and just trade.