Yes, anywhere from 2 o'clock at night to 2:40 will do for the special shop items.
There are even better trading routes than Athens-Istanbul, but that's indeed an easy and quite swift one, provided you don't use it too often with too many ships, or you'll destroy its balance for some time.
Unbalancing the right trade routes though takes quite some effort, but can you gain huge amounts of gold in no time.
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