Here's a variant from the singing os Cyril Tawney, set in England.

To Catherines Dock I bid farewell
To charming Sue and lovely Nell
Our anchor's heaved, our sails unfurled
We're bound across the watery world.
For the seas we are outward bound, for the seas we are outward bound.

The wind blew hard, the wind blew East
Our good ship sailed nine knots at least!
And at the Spaniards we let fly
While we have grog we'll never say die!
For the seas we are outward bound, for the seas we are outward bound.

When we returned to London Docks
The fair pretty maids came down in flocks.
The maids did skip, the maids did say
Oh here comes Jack with three years pay!
For we are homeward bound, yes we are homeward bound

And when we come to The Dog and Bell
Where all good liquor is to sell
In comes Arch, with his sweetest smile
Saying "Drink, merry lads, it's worth your while!
For you are homeward bound, yes you are homeward bound."

But when your money is gone and spent
When none is borrowed, for none is lent
In comes Arch, with his sourest frown
Saying "Stand up Jack, let John sit down.
For Jack is outward bound, and John is homeward bound."

But when each lad has touched his chink
Why then like fishes, we'll sit and drink
And the fair pretty maids with kisses sweet
Will John desert, and Jack will greet
For John is outward bound, and Jack is homeward bound.


The happy acceptance of the parasites who prey on drunken sailors doesn't strike much of a chord with me.
Sorry, no idea where he got it from.