Lyric discussion by Jenezzy 

The song appears to be using the common image of a siren enticing a sailor over to her, just for him to be destroyed in the rocks, so the meaning of the individual lines is affected (at least for me) by this image. Here is how I interpret the song meaning (from the "sailor's" voice):

Long afloat on shipless oceans I did all my best to smile

--> I was lonely but I tried to get by

'Til your singing eyes and fingers Drew me loving to your isle

--> Then I saw you and was drawn in by you

And you sang Sail to me Sail to me Let me enfold you Here I am Here I am Waiting to hold you

--> you encouraged me over, offering me comfort and love (an escape from loneliness)

Did I dream you dreamed about me?

--> Did I imagine you wanted me too? Perhaps this is one-sided love.

Were you hare when I was fox?

--> Am I pursuing you only, like a fox pursues a hare?

Now my foolish boat is leaning Broken lovelorn on your rocks

--> Coming over to you has destroyed me. Love has destroyed me. You drew me into your trap.

For you sing, "Touch me not, touch me not, come back tomorrow: O my heart, O my heart shies from the sorrow"

--> You didn't let me in or give love back, perhaps because you were scared.

I am puzzled as the newborn child

--> So now I'm confused based on the signals you gave me.

I am troubled at the tide

--> (I thought this was "riddled as the tide" which would imply the same as the previous line since riddled also means puzzled and the tide goes up and down.) Troubled at the tide implies that the the singer doesn't know what to do.

Should I stand amid the breakers? Should I lie with Death my bride?

--> Should I continue waiting or should I give up?

Hear me sing, "Swim to me, Swim to me, Let me enfold you: Here I am, Here I am, Waiting to hold you"

--> I'm right here, I love you

This last line is the same message as the "siren" originally gave the "sailor", but there is no more left to the song, which implies that the offer is not responded to.

@Jenezzy Or maybe the last lines were responded to, and that's why the song ended. :)

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