Just ran a google search on "lifeboat songs". Apparently somebody else has been inspired by the Eliza Fearnley disaster, and has posted their lyrics here Eliza Fearnley. To be honest, I prefer the vigour of Warriors of the Sea ;the modern lyrics just sound bathetic.
Considering that the Open is currently being contested at Lytham and St Annes I'm surprised that nobody has leapt in with a song about Colin Montgomerie leaving all the others "lost at sea"!