My wife and I were taught this tune by its composer, Duncan Johnstone, at a workshop in Kentucky USA in the 80's. The farewell of the title refers to an oil drilling rig headed offshore and incidentally hanging the largest sail ever deployed as of that time to reduce towing fuel costs. I'm also a sailboat sailor and had been a youth regional race winner 20 years earlier, so the tune has that extra significance for me.
Not sure about the march or the second strathspey, the first strathspey is The Smith's A Gallant Fireman, the reels are Sleepy Maggie and The Ale is Dear.
You can't see me but I was feeling pretty down that day, I walked past as they played this and for a few minutes things didn't seem so bad. Always come back to this video when I need cheering up.