I had looked for this song for a while and have now found a version on a website. I have no idea how good the transcription is. Can someone please check my explanations of the terms below?
OD (ordinary seaman ??)
CTC, Chemtec Chemicals high concentration cleaner, usable in salt water, e.g. used for tank cleaning
oppo (A close friend. The ‘opposite number’ of a two man team),
RNBT rep (Royal Navy Benevolent Funds representative?)

Wolfgang

NOBBY HALL
(C. Tawney)

Nobby Hall a young OD
Cleaned his suit in CTC
He hung it in the Mess to dry
His oppo lay asleep nearby
And all night long the fumes arose
And drifted up his oppo's nose.

When the Shaker's voice was heard
There was one that did not stir,
Nobby wept and whaled no end
To think that he'd killed his best friend!
The funeral was a grand affair
the RNBT rep was there.

So sailors please be ruled by me,
If you clean you suit in CTC,
Always take the greatest care
To hang it in the open air,
But MUCH BETTER if you can
Hang it by a WARDROOM FAN!!!