I first heard this song sung by Ado Barker, fiddler with the Melbourne Irish band "Trouble In The Kitchen" at Australia's National Folk Festival 3, or maybe 4 years ago. A fine song, and Ado is a great singer as well as fiddler. I just listened to his version on their CD "The Next Turn" [ highly recommended ] , and the lyrics are more or less what is connected to in the link provided above. A few words have been changed - according to the sleeve notes, Ado got the song from Tommy Carew from Co. Limerick who sang it at a session in Miltown Malbay, Co. Clare.

The lines -
"But that anchor chain's a fetter
And with it you are tethered to the foam,"

are as sung by Ado.

And if you want to hear another excellent song, listen to the band's version of David Francey's "Mill Town".