'tis very popular in Cornwall: the Cadgwith "Fishermen" still sing it on Friday nights .... Maybe something to do with the wreckers and smugglers who made such a good living in days of yore: note Admiral Benbow of Penzance.
"Stand and deliver" is the command offered by the highwaymen of the 18th Century, so some other tradition is involved here too.
Cheers,
Brian