This is the Plattdeutsch (Low German) version of the American Banks of the Sacramento. According to Stan Hugill:
It was very popular in ships of the Laiesz line of Hamburg engaged in the Chilean nitrate trade, and was even heard aboard the German four-masted bark Pamir.
It is also said to be one of the very efw German sailorsongs taught in school and known to most German school children. The English refrains of "Hoodah, hoodah!" are sung here as "Howday, howday!" The Norwegians, who also like this shanty, sang "Ota Hayti, ota Hayti!" - referring to the Pacific island of Tahiti; the Swedes, in their own language version, had "O, Bermudas, O, Bermudas!" Like many sailorsongs it is critical of the state of the old-time sailing ships - bad grub, rotten gear, a surfeit of bugs and weevils, rotten salt junk, and maggoty salt horse.