So the first two sentences are all you really need from this report by The Guardian:
Iggy Pop, Patti Smith, Tom Waits and the Pogues’ Shane MacGowan are among the contributors to a new compilation of pirate ballads. The grizzled, A-list crew was assembled by Johnny Depp, who performs on the album, and the people behind the Pirates of the Caribbean movies.
Right? Also Pirates of the Caribbean Director Gore Verbinski, Nick Cave, Michael Gira, Broken Social Scene, and Dr. John. But like we said, this is the second iteration of this idea, and sports many of the same artists as the first. Unfortunately, not White Magic or Jarvis Cocker.