Seems like it has something to do with a possibly drunken UK lager lout getting seasick possibly on a channel ferry. He falls overboard and meets a mermaid.
I think the keyboard player sued to be included for songwriting credits because the organ bots were such an integral part of the song.
Thank you!! It does seem to make a little more sense now. Can you now explain “Rainy Day women #12 and 36” or whatever the numbers were in the Dylan song???:)