Here's the set I sing with some notes on its provenance:

   THE SAILOR'S ALPHABET

1. A is the anchor that holds a bold ship
    B is the bowsprit that often does dip
    C is the capstan on which we do wind and
    D is the davits on which the jolly boat hangs

CHORUS
    OH HI DERRY, HAY DERRY, HO DERRY DOWN
    GIVE SAILORS THEIR GROG AND THERE'S NOTHING GOES WRONG
    SO MERRY, SO MERRY, SO MERRY ARE WE
    NO MATTER WHO'S LAUGHING AT SAILORS AT SEA.

2. E is the ensign, the red, white and blue
    F is the fo'c'sle, holds the ship's crew
    G is the gangway on which the mate takes his stand and
    H is the hawser that seldom does stand.

3. I is the irons where the stuns'l boom sits
    J is the jib-boom that often does dip
    K are the keelsons of which you've heard told and
    L are the lanyards that always will hold.

4. M is the main-mast, so stout and so strong
    N is the North Point that never points wrong
    O are the orders of which we must be 'ware and
    P are the pumps that cause sailors to swear.

5. Q is the quadrant, the sun for to take
    R is the rigging that always does shake
    S is the starboard side of our bold ship and
    T are the topmasts that often do split.

6. U is the ugliest old captain of all
    V is the vapour that come with the squall
    W is the windlass on which we do wind and
    X, Y and Z, well, I can't put in rhyme!

- from Capt. Charles Cates (18??-1960) of North Vancouver, BC: PJT Coll #182; Canada Folk Bulletin I-4 p8: slightly amended in Cass-Beggs 40. Cf. Eckstorm 233; Peacock 885; Hugill 341; Palmer 220; note also "The Bargeman's ABC" by Bob Roberts (1907-82) of Suffolk, in Palmer 281, "The Fisherman's Alphabet", Peacock 125; Creighton Ballads 210 (3 sets); see also "Lumberman's Alphabet".

Jon Bartlett