More on this - Final verse 'then the signal was made for the 'grand fleet' to anchor' - grand fleet a term used for the Royal Navy in WWII ; so is it referring to Francis Drake's fleet which destroyed around 30 Spanish ships on 19th April 1587 and caused damage to the provisions of the Spanish Armada ?

Seems it cant be about Spanish girls in port - there is absolutely no reference anywhere else in the song to indicate its about that.

Interesting hey ?

PS I remembered this raid by Francis Drake from a book I read ages ago - cant remember which one.