Ed,

I don't know what meter you plan to use, but when I read through the lyrics I see too many syllables.

For example:

I've been a wild sailor for many a year
I've spent all my money on whiskey and beer
And now I'm returning, I'm sunburned and sore
and I never will be a wild sailor no more


Could read:

I've been a wild sailor for many a year
Spent all my money on whiskey and beer
Now I'm returning; sunburned and sore
Never will be a wild sailor no more

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There's no need for all the 'and' and 'I' words if you aren't changing the main subject; which happens to be you, the wild sailor, telling this tale.

-Scott