Hoffnung is German for "Hope".
Here's what Stan Hugill had to say about this Low German (Plattdeutsch) song:
Ilearned this hauling song from a young Hamburg seaman in the twenties. It was popular in all German sailing ships. It has a touch of the German folk legend Faust about it. It would appear that the skipper in this tale was a bit overdue on the homeward run. When Old Nick appears the skipper offers him his soul if Satan can speed up the ship a little. When the time comes for repayment the skipper isn't so happy. However, the cunning old carpenter hooks the Devil up to the anchor, and on dropping the "hook" the Devil is sent to the bottom of the sea!
Oh! De Hoffnung wör hunnert Dag ünner wegs
Ch: To me way hay ho, howday!
Se seilt von Hamborg na Valparais',
Ch: Oh! A long time ago!
Se seilt goot un se seilte hart,
Se harr so'ne gode un kostbare Fracht.
Un as de Ool nu flucht un gnattert,
Dor keem de Düvel över de Reeling klattert.
"Wenn mi in tein Dag nen Kanal du bringst,
Denn krigst mien Seel, so waar as du stinkst."
De Pott Peep negentein Milen toletzt,
Dor harr de Duvel de skyseils bisett.
Un as se nu kemen in'n Kanal to Stell,
Dar seggt de Düvel, "Nu her mit de Seel!"
Dar seggt de Ool, "Nu lot di man tiet,
Wi goot to Anker bi Cape St. Patrick."
De Düvel de weet vör Freid ganz weg,
He peep op de Back, sett den Anker op slip.
De old Timm'mann harr grote Freid,
He harr den Düvel sien'n Steert mitvertaut.
Un as de Anker nu suust an den Grund,
Suust de Düvel mit, disse Swienehund.
The Hoffnung was a hundred days on the go,
Ch: To me way hay ho, howday!
She sailed from Hamburg to Valparaiso,
Ch: Oh, a long time ago!
She sailed good and she sailed hard,
She had such a fine and costly cargo.
And as the Old Man swore and cursed,
The Devil came climbing over the rail.
"If you bring me to the Channel in ten days' time,
Surely as you stink you will get my soul."
The old hulk at last went eighteen knots,
The Devil had the skys'ls set.
And when she came to the Channel to anchor,
Then said the Devil, "Give me your soul."
Then said the Old Man, "Take your time,
We have to anchor by Cape St. Patrick."
The Devil was now more than overjoyed,
He ran up the fo'c'slehead to let go the anchor.
The old carpeneter was greatly pleased,
He had spliced the Devil's backside to the anchor.
And as the anchor went down to the ground,
The Devil went with it - the dirty big hound!