"As now we are sailing out of Sheet Harbour Bay And ... Scaterie." When the singer leaves the Labrador factory "I pray ... I'll come back here no more" and have "a chance for a wife"
Sheet Harbour is on the Atlantic coast of Nova Scotia and Scaterie Island is off Cape Breton. Creighton-Nova Scotia: "[The singer] tells me it was written about a schooner that took men to Labrador to work in a lobster factory." - BS