For a year or so I've been singing this song with great pleasure. I learned it from the video of Charlie performing it live in 2018. So I'd like to contribute a transcription of the melody based on that performance. I've also made a few changes to the lyrics which I think add clarity at some points -- so first I'll post Charlie's original lyrics and then my comments on them. Charlie, apologies in advance if I misrepresent anything!

NEVER TURN A BLIND EYE TO THE STORM
Charlie Ipcar, 2013

Now she went down in October in a massive hurricane,
The waves were running mountain high with driving wind and rain;
Ninety miles off Hatteras, she couldn't take no more:
And the H.M.S. Bounty she rolled o'er.
There were sixteen souls aboard her, Captain Walbridge and his crew;
He'd sailed that ship nigh twenty years and knew just what to do;
But her frames were filled with rot, and her pumps were known to fail—
Should such a ship ever have set sail? (2X)

CHORUS:
Never turn a blind eye to the storm, I say;
The sea is unforgiving, she'll snatch your life away.
Learn your trade, weigh the risks, and you'll see better days.
Never turn a blind eye to the storm,
Never turn a blind eye to the storm!

What was that captain thinking to leave port that day,
With a fast approaching hurricane directly in his way?
But he reassured his crew, "We'll be safer out to sea!"
And who were they to question his decree?
They refit the ship in Boothbay, so much rot was found;
Planks and frames ripped out, replaced, but still more were unsound;
"Caulk her up and paint her; I'm sure she'll do just fine;
We've got to reach St. Petersburg on time!" (2X)

CHORUS

The ship was working hard, as she beat into the wind,
The captain shifted course southwest to save more time again;
But the only time he saved was the cruelest kind of pause,
As the great storm snatched the ship into its mighty claws.
The engine room was flooded as the seams gaped open wide;
The pumps were overwhelmed as the diesel engines died;
For the captain and his crew, it was their final trip,
They prepared the life rafts to abandon ship. (2X)

CHORUS

Fourteen souls the Coast Guard saved on that fateful day;
The captain, he's still missing since he was swept away.
One deckhand was found dead, the newest member of the crew;
She'd always dreamed of sailing out into that endless blue.
Now there's nothing left to fathom but the questions and the pain;
The Bounty's on the bottom, she'll never rise again;
Ye mariners take warning, heed the sea in all its forms,
And never turn a blind eye to the storm,
Never turn a blind eye to the storm!

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EXPLANATORY NOTE: In verse 3, line 1, "working" is the term for the constant movements of the planks of a wooden ship pushed and pulled by the waves, which worsens the problem of water coming in through the caulked seams between planks.

NOTE 2: Here are the most significant changes I make when I sing this song:
* Verse 1, line 4: "the tall ship Bounty she rolled o'er" (the replica didn't have the designation H.M.S.)
* Verse 2: I swap the two halves to be chronological, instead of inserting the shipyard visit as a flashback to explain the condition the Bounty was in after she sailed.
* Verse 3, lines 2-3: Rewritten for clarity -- "'West of the storm we'll catch a wind to save more time again,' but the captain's change of course put an end to a cruel pause..." The Bounty had originally headed southeast to get away from the storm, but Walbridge apparently changed his mind and tried to cross in front of the storm to the west side of it where there would be southerly winds (instead of the opposing ones on the east side that forced the ship to beat into the wind). The change of course put them right in the midst of the hurricane.

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And here is my attempt at transcribing the melody from the video... I've tried to write down a generalized melody despite the constant rhythmic and melodic variations. I'd welcome anyone improving it.

K:F
M:4/4
L:1/8
Q:1/4=75
cc | dd dd c<c cB | AA AG (F<D) z>c |
dd dd cc c>B |A>B AF G z z A/2A/2 |
dd dd c2 z c/2B/2 | A<A AG (F<D) z>A |
BB BB c<c cc | A4 z2 Ac |
dd dd c<c cc | AA AG (F<D) z>c |
dd dd c>c cB | AB AF G2 z c |
dd dd c<c z B | AA AG (F<D) z>A |
BB BB c<c cc | A4 z2 z>A |
BB BB B<c AG | F4 z4 ||
d<d d>d cc c>B | A2 (AG) (F<D) z>A |
BB BB c<c z c | A>B AF G2 z2 |
dB B2 c>c cc | AA A<G (F<D) z2 |
B<B B>B cc c>c | A4 z4 |
d<d d>d dc A>G | F4 z2 z ||

LAST VERSE

BB B>B cc G2 | AA AG (F<D) z>G |
w:Four-teen souls the Coast Guard saved on that fate-ful day_ The
BB BB c<c- c c | A>B AF G2 z G |
w:cap-tain he's still mis-sing_ since he was swept a-way One
B<B BB c2 z/2 G/2G/2G/2 | AA A>G (F<D) z>G |
w:deck-hand was found dead, the new-est mem-ber of the crew_ She'd
BB BB c/2c/2c- c c | [M:6/4] A>B AG A2- A z z2 cc |
w:al-ways dreamed of sai-ling out_ in-to that end-less blue_ Now there's
[M:4/4] d<d dd c<c c>c | AA A>G (F<D) z>c |
w:no-thing left to fa-thom but the ques-tions and the pain_ The
dd d>d c<G z B | A>B AF G2 z G |
w:Bounty's on the bot-tom, she'll ne-ver rise a-gain Ye
d/2d/2d- d d cc/2 z/2 c>c | AA AG (F<D) z2 |
w:ma-ri-ners_ take wa-rning, heed the sea in all its forms
B<B B>B cc c>c | A4 z4 |
w:Never turn a blind eye to the storm
d<d d>d dc A>G | F4 z4 ||
w:Never turn a blind eye to the storm!

SOME EXAMPLES OF VARIATIONS

Verse 1, measures 1-2:
dd dd c<c c>B | AA AG D2
w:went down in Oc-to-ber in a mas-sive hur-ri-cane

Verse 1, measure 3:
dd d<d c>c G z/2B/2
w:waves were run-ning moun-tain high with
        
Verse 2, measure 3:
BB dd c>c c>B
w:fast ap-proa-ching hur-ri-cane di-

Verse 1, measure 5:
d/2d/2d- d d c/2c/2c z3/2 B/2
w:nine-ty miles_ off Hat-ter-as she
        
Verse 2, measure 5:
d/2d/2d- d d c z cc
w:re-as-sured_ his crew "We'll be

Verse 1, measures 7-8:
BB B2 c<c c<c | A4
w:H. M. S. Boun-ty she rolled o'er

Verse 2, measures 7-8:
B>B B>B cc c>c | A4
w:who were they to ques-tion his de-cree?

Verse 3, measures 7-8:
BB BB c z z B | A>B A<G A2
w:great storm snatched the ship in-to its migh-ty claws

Verse 2, measure 9:
dd dd cc- c z
w:fit the ship in Booth-bay_

Verse 3, measure 11:
dd d>d c2 c>B
w:pumps were overwhelmed as the

Verse 3, measures 13-16:
dd dd c2 z c | AA AG D z3 | B>B BB cc- c z | A>B AG A
w:cap-tain and his crew, it was their fi-nal trip They pre-pared the life rafts_ to a-ban-don ship

Chorus, measure 5:
dd d2 c>c cc
w:learn your trade, weigh the risks, and