You're having a hard time finding those sails made of wood because they're really made of silk. The song is "My Ship," Music by Kurt Weill, Lyrics by Ira Gershwin, from the 1941 Broadway musical LADY IN THE DARK, made into a 1944 movie starring Ginger Rogers.
My ship has sails that are made of silk
The decks are trimmed with gold
And of jam and spice
There's a paradise
In the hold

My ship's aglow with a million pearls
And rubies fill each bin
The sun sits high in a sapphire sky
When my ship comes in

I can wait the years
Till it appears
One fine day
One spring
But the pearls and such
They won't mean much
If there's missing just one thing...

I do not care
If that day arrives
That dream need never be
If the ship I sing
Doesn't also bring
My own true love to me

If the ship I sing
Doesn't also bring
My own true love to me