I've checked out the lyrics again and though I hate to admit defeat, the job of transforming this song into a sea shanty seems udderly hopeless.

There's no chorus or refrain...

No "Jack" or "Sally" or even a "Willie"...

Not even a bounding billows...

Nothin' to drink...

I suppose one could shout "Umph" or "Joe" or "So help me, Bob" periodically...

There is an old parody which may lead to something:

Oh, say can you see,
Any bedbugs on me?
If you do, pick them off,
And we'll make bedbug broth!

Odd, I'm having trouble posting this!

Cheerily,
Charley Noble