Another version of this song is already in the Digital Tradition database, but I like this one better, not least because it uses the captain's correct name, Van der Decken, rather than Van Dyke.

There's another thread called Lyr Req: The Flying Dutchman was a phantom ship... but that's about a different song.

Copied from Golden Hind Music:

THE FLYING DUTCHMAN

'Twas on a dark and cheerless night to the southern of the Cape,
When from a strong nor'wester we had just made our escape.
Like an infant in its cradle, all hands lay fast asleep,
And peacefully we sailed along in the bosom of the deep,
And peacefully we sailed along in the bosom of the deep.

Just then, the watchman gave a shout of terror and of fear,
As if he had just gazed upon some sudden danger near.
The sea all round was cloud and foam, and just upon our lee,
We saw the Flying Dutchman come a-bounding o'er the sea.
We saw the Flying Dutchman come a-bounding o'er the sea.

"Take in our lofty canvas, lads," the watchful master cried,
"For in our ship's company some sudden danger lies,
For every man who rounds the Cape, although he knows no fear,
He knows that there is danger when Van der Decken's near.
He knows that there is danger when Van der Decken's near."

Pity poor Van der Decken. Forever is his doom.
The seas around that stormy Cape will be his living tomb.
He's doomed to ride the ocean forever and a day,
And he tries in vain his oath to keep by entering Table Bay,
And he tries in vain his oath to keep by entering Table Bay.

All hands to the rail, our gallant crew, as the ghost ship bore to sea.
Our hearts were filled with awe and fear, as she passed along our lee.
The helmsman was likewise entranced, and as all hands sighed relief,
With rending crash and mortal force, our vessel struck a reef.
With rending crash and mortal force, our vessel struck a reef.

[As sung by John Roberts and Tony Barrand on their album "Across the Western Ocean," 1973.]