Just in case you don't know and would like to know, the Battle of Jutland was a sea battle between the British and the German fleets, May 31/June 1 1916. The three ships mentioned above are three of the top four British losses ('Indefatigable' isn't a good name for a song because it's too long). Here's a table of the Battle of Jutland material losses.
The battle was a victory for the British fleet though it doesn't look so at the first glance. Britain lost a larger number of ships, more ship tonnage, and much more hands (about three times as much as Germany). The number of hits, however, saw a large British advantage. It seems curious that a fleet scoring about twice as much hits as the opposing fleet lost much more hands and slightly more material. The reason is a faulty design in British ship construction which meant that some British ships went down with very few hits whereas German ships returned into the harbour with many hits on them. For the same reason, the British ships went down very quickly taking with them nearly all hands, whereas the German ships (with one single exception) went down slowly and a large number of hands could be taken on other ships.
That so many large British pre-Dreadnought ships went down so quickly in a victorious battle after only very few hits is the historical background to the song above.
Why was it a British victory after all, despite larger losses inflicted on them? It was the last time in that war that the German fleet left the harbour. On the day following the battle, who was there on the ocean looking for survivors or enemy ships having lost their way? The loser of that particular battle but long run winner.^^

Wolfgang