An odd song to pick on. I always get the suspicion that in this kind of situation there's someone manipulating things behind the scenes. "Now if we can get someone to ask for a ban on this it'll really make the PC crowd look stupid."
Mind there are shanties that you'd use cautiously. Whip Jamboree, to which I posted a link at the start of this thread, used to have different sets of verses according to whether there were female pasengers on board or not, according to Stan Hugill. And he had verses to "In Amsterdam there lived a maid" that he'd never put in print, and I don't blame him.