Just came across this thread. I know the song, first from an Irish Rovers recording and more recently by oceans Apart. (I'm sure there have been many others, but those are the two I'm familiar with.

In the lyrics posted earlier on this thread, I believe there are two errors -- minor, I suppose -- but I think the words I learned "fit" better. The last two lines of the refrain as posted earlier on this thread are:

Bluenose, leading in the wind
Racing ev'ry way on the sea

I believe the lines should be:

Bluenose, LEANING in the wind
Racing every WAVE on the sea.

Call me "picky" if you want!

Reiver 2