Dieses Lied heißt "Dead Man's Boots" [Stiefel eines toten Mannes], das beschreibt, wie schwer es ist, Arbeit zu bekommen, d. h. man bekommt nur einen Job in der Werft, wenn jemand anderes gestorben ist.
This song is called "Dead Man's Boots," which describes how difficult it is to get a job; in other words, you'd only get a job in the shipyard if somebody else died.