Further to my post of 0403 am ~~ the topic of this shanty, however one may interpret the individual words, surely appears to be a boat heading for shore leave [a liberty boat], with the crew all looking forward to the treats, none of which will "do them any harm", which await them upon arrival ~~ drink*, food, night ashore, night with a whore...

~M~

*"Some of the many other names for rum are Nelson's blood, kill-devil, demon water..." wikipedia entry on RUM