Certainly fits in with such classics as "Fresh-Water Whaling." I do wonder whether the first two lines of the second verse are correct:

Now the whales they had a mutiny upon this pirate ship,
They had run out of plankton because I had a ton of it.

Nonesense is one thing but such arkward rhyming!

I'd also like a clue about the tune before I begin learning it.

Cheerily,
Charley Noble