Lyric discussion by Balkazar 

There are several meanings:

1. This sailor is a soldier who pities the crew of a sinking ship (perhaps he destroyed it). He wants to help them, but in the end he can't forgive himself for his "murder".

2. It's about a broken relationship. If you read the lyric, the details should be obvious.

3. It's about a person who lost someone, who was a sailor. In german you would say: "Er ist auf See geblieben." That means that the person died, because his ship sank or he drowned. The protagonist doesn't want to accept his/her death and waits at the lantern for his/her friedn to come back.

Surely, there are several more meanings ... just wanna to give you a little push - this one of the most emotional songs i've ever heard.

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