Which is pointless, as you need to pay adventurers to establish route, whatever method you are using. Marco Polo and Christopher Columbus weren't free of cost, you know.
Back to your calculations:
I no longer own 3rd PHB, but SRD says Teleportation Circle work like Greater Teleport to any creature into the circle. It says nothing about daily limits
Teleportation Circle. Greater Teleport says it works like Teleport, just without range.
Teleport, Greater
So you just need 2 of them, to cover travel from Venetia to China, and back. It means it can teleport as much people as you need (one at a time), instantly, from Venetia to China, carrying as much as it can load (
Teleport. So if you teleport a mule or horse, that's a lot of weight. Even if not, it doesn't matter: you could have a human carrying 50 pounds per travel, and make 10 travels per hour (if circles are in your warestores, you actually need to move 10 yards or so) during 10 hours shifts (not a really hard shift for middle age standards, and lower than in a galleon anyways), and move 2.5 tons per day with just one worker, or 25 if you use 10 workers. Using the 51 workers you'll need for a galleon, you'll move 125 tons per day. So bassically, you can move the same amount of cargo you can use in a Galleon, just that you cross the planet
instantly
That said: even
if your calculation were right, it only means poor merchants, who only can afford 1 galleon, might not go the Teleport route. But given enough trade power, it's not cost-effective. Your cost from pirate insurace is way too low, Somalian pirates are just a couple of aficionados compared to Francis Drake, Henry Morgan, Le Ollonais or any of the Mediterranean turk pirates. Spanish Galleons from America often came in groups of 10+, guarded by war galleons, to avoid them. By the cost of 5 galleons, a couple of war galleons, the several cannons you need (each of them quite costly), and the
hundreds of soldiers you need to keep 700 tons of cargo safe, you could make a couple circles of teleport, and be just fine. I can say, without a doubt, that given the chance, Felipe II would had spend that amount of gold in a blink to get a sure, safe route from Sevilla to Cartagena de Indias or Habana. It would be much cheaper than losing
hundreds of gold and silver tons, dozens of galleons, and thousands of men trying to keep the sea safe.