The first verse refers to the boat trip along with Flora (who was "trim[ming] the sail") and the crew of six boatmen (who were "heaving the shallop") to the Isle of Skye. From there they went overland to Portree, where arrangements had been made for Charles to travel to Raasay in the hope of being picked up by a French warship. Presumably, the "young Raasay" of the second verse is the young native of Raasay who was operating that second boat and was "hold[ing] fast the helm." Finally, the "tall ship" of the third verse is presumably the ship that took Prince Charles to France, with the crew being the 'heroes' who were "pull[ing] hard" the sheets (controlling the sails) or oars.