Jim in Kerry had the right lyrics, missing a verse or 2 tho, have just checked with Stan the Shanty Man's 7 seas. Kipling was earlier than Stan Kelly so think we can safely say S.K. did not compose it. Dreadnaught, the Flash Packet/La Pique, and Liverpool Packet seem to be closely related, the 3 tunes more or less interchangeable, and verse content similar.
Verse 5 as sung by Storm Weather is way off beam! Should a shantychoir not know what they're singing about?
V.5; Sheet home yet big tops'ls, haul aft yer jib sheets
Sheet home fore'n aft boys, you'll get no damn sleep;
Come aft now, god damn yers, come aft one and all,
For over your heads flies the bonny Black Ball.
(As in the Black Ball Line, of which I know not a lot..)
V.7; An now we are sailin' the Atlantic so wide,
An the hands are now ordered to scrub the ship's side;
Now then,holystones boyos, the bosun do bawl,
For Kickin' Jack Williams commands this Black Ball.

Reckon he was a tough skipper? I must look him up!
Does this help?
'She's home, you're big topsails? Hold out you big seas??
Yeesh. More research, I reckon.
X el