Methinks the School of Scottish studies has it originally in Gaelic
as a Trad (anon) and translated into a semi-understandable language
such as English. The Minch or Minge argument could conceivably have
something to do with the fact that the boats mentioned in the song
were made of wood, which had to be imported, much of which was
southern european meach or mingewood, so called owing to its strange
smell. The close proximity to decaying seaweed and rotting fish
might also explain a lot.

'Nuff said.