I heard this track on BBC Radio 3's Late Junction the other evening. It comes from the 2006 compilation album of sea shanties and the like Rogue's Gallery: Pirate Ballads, Sea Songs, and Chanteys.
Baby Gramps turns out to be a legend of the Seattle music scene. Patrick Ferris once said of him:
His voice is a cross between Popeye the Sailor and a Didgeridoo and the plinkity plink of his VERY worn National steel guitar, sounds like a wind up jack in the box. If you listen closely and know anything about music, you'll realize Gramps is an absolutely incredible guitar player.