Rock and roll in the chanty has to do with the sweating or tightening of the sails, as well as the sexual connotation. As such, it probably is old.
Rock, in the sense of to sway under some impact or stress, is listed in the OED with quotations from 1398. As to the sexual connotation, I dunno- couldn't find any early uses, although it is mentioned, but I think the double meaning is there in this chantey.

In the Caribbean (Nevis), "Johnny Bowker" is sung as "Do My Jolly Boy." Roger D. Abrahams, "Deep the Water, Shallow the Shore." It was used in house-moving, and lacks the rock and roll lines; 'shub' (shove) is the operative action.
In another chanty,, more allied to the sea, the 'Calais to Dover' or 'Calais to Halifax' line appears in this verse:
The whores on shore love sailor' man money
Roll, roll, roll and go.
Roll and go from Calais to Dover,
(I) spend my money on the whores on shore.