Yes, Kim C, it's "waves". I suggested going to my copy of the lyrics because I had carefully proofread it, comparing it to the sheet music as well as to what he sings. I know that sometimes published sheet music is wrong, but in this case, it isn't. I used the individual single sheet music, which is still in print. The song also appears in several "anthology" songbooks.

As far as the confusion over "Derry", let me add that for reasons known only to them, the Rheostatics either created or intentionally popularized the claim that Back Home In Derry was the source of the music. The Rheostatics yell out "Remember Derry" or something like that at the end of one of their versions of Wreck, and their web site actually says that Derry is the original. I have read that they retracted that statement and say it is only a joke (a joke?), but the claim remains on what I believe is their official web site.

Back Home In Derry was recorded by Christie Moore, who attributes the lyrics to Sands and the music to Lightfoot. Moore's recording was released in 1984 on his "Ride On" album. Wreck, as you all know, was released in 1976.

The shipwreck, by the way, was on the evening of November 10, 1975 - the 26th anniversary is just days away.