I listened to a sound sample and transcribed this much:

THE APPRENTICE BOY (excerpt)
Traditional

...apprentice bound,
I sailed the salt sea all round and round
I had not sailed a voyage but one
When I fell in love with my charming Nan.

I went to my captain both stout and bold....

[Sung by John Doyle on "Wayward Son," Compass CD #74408, 2005.]

That's enough to establish that it's essentially the same song as the following one:

Lyrics and notes copied from http://www.altan.ie/theblueidol/track10.htm :

THE SEA-APPRENTICE BOY
Trad. arr. Ní Mhaonaigh, Sproule, Tourish, Byrne, Kelly

Also known as "The Apprentice Boy", "The Sailor Boy" and "The Apprentice Boy in Love", this song is still sung in Ireland, Newfoundland and Nova Scotia and can be found in Sam Henry's book, "Songs of the People". Henry published the songs he collected in a regular column in "The Northern Constitution", a provincial County Antrim newspaper, between the years 1923 and 1939. Sam Henry worked as a a customs and excise official. Mairéad learned this song from Róisín White, originally of Kilkeel, County Down, but now living in Co. Armagh; she in turn learned it from the late Joe Holmes of Ballymoney, Co. Antrim.

When first I went a sea-apprentice bound,
I sailed the salt seas all round and round.
I scarce had sailed a voyage but one
When I fell in love with my charming Anne.

I went to my captain both stout and bold,
And unto him my secret told:
"I love yon lass as I love my life,
What would I give if she were my wife!"

"Well," the captain said, "you're a foolish boy,
For to court a girl that you'll ne'er enjoy,
For she'll have lovers while you're at sea,
And she'll be married ere you'll be free."

"Well, I don't know but I'll go and try,
For she might fancy an apprentice boy,
And she might alter her mind for me,
And wait on me until I be free."

Well, I bought her ribbons and I bought her gloves,
These things to prove of a heart that loves.
She accepted all and she was not shy,
And she vowed to wait for her apprentice boy.

When my ship is anchored and my work is o'er,
I'll steer my barque for sweet Erin's shore.
In my native country, my love I'll enjoy,
And she'll welcome home her apprentice boy.

So come all you sea-apprentices where'er you be.
Never slight your true love while you're at sea.
Just love her as you love your life,
And she'll consent to become your wife.

[Sung by Altan on "The Blue Idol,"

[The same song is posted in this thread: New sea music CD, Time Ashore Is Over - but I believe it contains a couple of errors.]