From The Cliffs.

[tectak]

Excellent edit billy. Anything else you do to this would be final buffing. It is already glossy. I am only going to make small suggestions accordingly.
The mainsail died, I saw it rip
dread ran like scurvy through the ship;Purely brasso. How about "Dread spread like scurvy through the ship"
it cut the rope that held the cloth I cut the rope. Typo? My earlier suggestion was to name a name ( Seb or Jed or Jake or suchlike.) I don't think "it" works at all. Apart from the totally impersonal nature of the word the implication is that "dread" cut the rope.
then dropped the tatters to the frothMaybe "which fell in tatters, or even "It fell in tatters.." at a push. "Then" implies by continuity that "you" dropped the tatters. This would be a big job under any circumstances! Full stop after "...through the ship.". Comma after "...to the froth," to permit the finality of the last line.
all white and roaring o'er the deck,....by putting the semi-colon after "...o'er the deck;". I still think that you could make more of the penultimate line by using something more descriptive than just " All....." but permitted vernacular if "o'er" is acceptable. Hmmm.
a misplaced foot, a broken neck.

The anchor lost, the boat's keel broke This is a nice enjambment but it slips under the reader's radar because you use "splintered" instead of "splint'ring". You could still get "splintering" in there and would have a nice clean sentence instead of two statements broken by the enjambment. "The anchor lost, the boat's keel broke upon the granite, splintering oak." What say you? Your poem. Just one other point. I know you used "ship" earlier and that you can put a boat on a ship but you cannot put a ship on a boat, so they are different thing's....but this gives you a chance to get more emotion going by avoiding the problem thus " The anchor lost, her proud keel broke upon the granite, splintering oak"
upon the granite, splintered oak.
Some jumped too late, some leapt too soon
their buckled bodies, smashed and strewn.
Across the knife-edged rocks they lay
undone and bloodied in the spray.

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As this gets closer to perfection, it gets harder to crit. It is very hard to crit
Best,
tectak

1st edit.
thanks to all the feedback, i've used some of the suggestion given and appreciated all the ones received. thanks

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original

The mainsail died, they heard it rip
dread ran like scurvy through the ship.
They cut the rope that held the cloth
and dropped the tatters to the froth;
all white and roaring o'er the deck,
a misplaced foot would break a neck.

The anchor lost, the boat's heart broke
upon the granite, splintered oak.
Some jumped too late, some leapt too soon
their buckled bodies bent and strewn
across the knife-edged rocks they lay
all cut and bloodied in the spray.