There's a WW2 Royal Naval version of this song, about HMS Jervis Bay, an Armed Merchant Cruiser (a liner with guns added) which was sunk in a gallant action with a German 'pocket battleship' the Admiral Sheer. By ordering the convoy to scatter she saved many merchant ships, and the Commanding Officer Captain Fegen was awarded a postumous VC. The words are available if you look in old threads for Jervis Bay.

The song was very popular in the Royal Navy, even after the war.

Les