Had a go at transcribing it. Not perfect, but it's something like this...

Your great grey back seems so peaceful in the ocean
(woooo on the James Clark Ross)
Here we come a-chasin' you and causing a commotion
(look, there she blows with a hurry hurry-o
on the James Clark Ross)

We sailed out of Immingham a-hoping for some fair winds
(woooo on the James Clark Ross)
When we reached Ascention we were dancing with the mainwinds(?)
(look, there she blows with a hurry hurry-o
on the James Clark Ross)

If I had my life again I'd be what Claire Waluda is
(woooo on the James Clark Ross)
I'd quit the cosy pad-and-pen(?) and be a penguin scientist
(look, there she blows with a hurry hurry-o
on the James Clark Ross)

Your great grey back seems to know just what the game is
(woooo on the James Clark Ross)
I wish that I could talk to you, I'd ask you what your name is
(look, there she blows with a hurry hurry-o
on the James Clark Ross)

Down at the bottom of the deep blue sea
Catching fishes, one, two, three.

Your great grey back seems so peaceful in the ocean
(woooo on the James Clark Ross)
Here we come a-chasin' you and causing a commotion
(look, there she blows with a hurry hurry-o
on the James Clark Ross)