Q--
FWIW it's not been documented in use as a work song anywhere.
One of the American Canoe Association publications calls it a "shanty song," but I believe they were using that term generically to refer to "sailor song."

That, incidentally is interesting in itself -- that circa early 1890s someone was using "shanty" like that, even though prior publications had made a very clear distinction that shanties were work songs. A decade later, it would be less surprising.

Lighter--

If it's discovered that Hugill invented the song ca1923, I'll make an "I love Stan Hugill" t-shirt and wear it during my pilgrimage to Aberdovey, where I will get my head shaved and then circumambulate the Hugill home counterclockwise, repeating, "No sea songs but Stan's sea songs...."