This song was written about her ex-boyfriend who she finished with if I remember rightly. So it makes me wonder what she is trying to say in the song if she was the dumper. I think she's saying she will always be in love with this person and will never get over them just because they had such a long history together, but her saying "I will go down with this ship..." is like her saying, she cannot go back, she's made her choice and she knows she will suffer the loss of a lover/friendship.
This song was written about her ex-boyfriend who she finished with if I remember rightly. So it makes me wonder what she is trying to say in the song if she was the dumper. I think she's saying she will always be in love with this person and will never get over them just because they had such a long history together, but her saying "I will go down with this ship..." is like her saying, she cannot go back, she's made her choice and she knows she will suffer the loss of a lover/friendship.