Almost certainly from 'The Captain's Apprentice' or 'Captain James' (Roud Index number 835); two verses seem to have been conflated into one here.

For some background, see an earlier discussion: Origins: The Cruel Ship's Captain (Broadside?)

When asking questions like this, it is helpful if you tell us what you already know; saves time for everybody. So, the usual questions:

Where did you get the fragment? Print? Word of mouth? When? Was there any context to it? Did it have a tune?