It's pretty clear to me that it's about the death of a man's girlfriend. Both of them look at life as being a slow death, with death being so very far away that neither of them will seize the moment while they can (the sea being boundless, time stands still)...When it becomes clear she doesn't have much time left ("EVENING light chases the shadows away", "It becomes autumn") she starts withdrawing into herself over her impending death (standing next to the lantern alone crying). His fear of her impending death drives him to do something ("yearning becomes the helmsman") and he appeals to her by saying he was the best boyfriend she could find, though not her dream boyfriend (hence the angry/unsure "doch" about him being the best sailor), and certainly not enough of a boyfriend to distract her from her sadness. He's angry that she has second thoughts because he's already devoted his years to her (as they are both old at this point). She's jealous about how many mourned for her mother's passing, while few will mourn hers. When she dies, he's left alone, sad, and still he won't make an effort to live the remainder of his life differently (time standing still again). He's stuck being morose over her death.
It's pretty clear to me that it's about the death of a man's girlfriend. Both of them look at life as being a slow death, with death being so very far away that neither of them will seize the moment while they can (the sea being boundless, time stands still)...When it becomes clear she doesn't have much time left ("EVENING light chases the shadows away", "It becomes autumn") she starts withdrawing into herself over her impending death (standing next to the lantern alone crying). His fear of her impending death drives him to do something ("yearning becomes the helmsman") and he appeals to her by saying he was the best boyfriend she could find, though not her dream boyfriend (hence the angry/unsure "doch" about him being the best sailor), and certainly not enough of a boyfriend to distract her from her sadness. He's angry that she has second thoughts because he's already devoted his years to her (as they are both old at this point). She's jealous about how many mourned for her mother's passing, while few will mourn hers. When she dies, he's left alone, sad, and still he won't make an effort to live the remainder of his life differently (time standing still again). He's stuck being morose over her death.