I heard this on the radio as I was driving down through the snow this weekend - no idea what station or recall of even where I was at the time. The singer had a strong burr but I could understand most of the lyrics, which I have sought in the Trad and on the Internet to no avail.
What I remember is the singer lays the keel, then the welders come in and weld, then he watches the ship sail off, then he lays the keel again.
Anybody know this song? He does (the singer) at one point mention that the shipbuilding is happening in Clyde.