LIFEBOAT, by Gavin Sutherland, was on 3 albums by the Sutherland Brothers: "Lifeboat" (1972), "Sailing" (1976), and "The Very Best of the Sutherland Brothers & Quiver" (2002).

I listened to a sample, and was only able to hear one line:

"Oh, lifeboat, lifeboat, won't you come along and save me?"