These are collectible music sheets which your crew will sing while sailing. They will fly away as soon as you get near. In case you weren't able to catch up with them, you can just wait and they'll return to after a few minutes. These sheets follow the same exact path so it is possible to take shortcuts and get ahead of their designated paths if you're having problems catching up with them. You can also fast-travel using any nearby viewpoint to make it re-appear instantly.
Havana
01: The Dead Horse
Located floating on top of a wooden shack near the docks.
video: S_Hav_TheDeadHorse.mp4
02: Bully in the Alley
This is found floating over a wire between two houses, north of the tavern.
video: S_Hav_Bulley-Alley.mp4
03: Spanish Ladies
This is found on the rooftop of the restricted area southwest of Castillo San Salvador de la Punta.
video: S_Hav_Spanish-Ladies.mp4
4: Running down to Cuba
Found floating on a rope between two buildings, north of the Governor's villa.
video: S_Hav_Running-Cuba.mp4
5: The Cost of High Barbary
Floating on a rope between two buildings, southwest of the northern church.
video: S_Hav_HighBarbary.mp4
6: Derby Ram
This is found floating near the boats off the coast.
video: S_Hav_DerbyRam.mp4
7: Billy Riley
Floating above the general store, southeast of the tavern
video: S_Hav_BillyRiley.mp4
Nassau
01: Leave her, Johnny
Found hovering near the swamp. Can't be missed.
video: S_Nauss1.MP4
02: Stormalong John
This is located along the main road in the slums.
video: S_Nauss2.MP4
03: Randy Dandy Oh
This is found along the main path. Can't be missed.
video: S_Nauss3.MP4
04: Drunken Sailor
Found on the rooftop of a house near the cemetery.
video: S_Nauss4.MP4
05: Paddy Doyle's Boots
Found on the roof of the two-storey house, north of the tavern.
video: S_Nauss5.MP4
Kingston
1: The Sailboat Malarkey
video:S_Sailboat.mp4
2: Good Morning Ladies All
video:S_MorningLadies.mp4
3: Handy Me Boys
video:S_Handy.mp4
4: Hi-Ho Come Roll Me Over
video:S_RolleMe.mp4
5: Roll and Go
video:S_RollGo.mp4
6: Cheerly Man
video:S_Cheerly.mp4
Cape Bonavista
Further to the northeast of the second viewpoint, there's a floating "shanty" on top of a tree branch. Take note that it will fly away from you when you get near it and you have to catch it before it disappears; if you fail, you have to wait for it to reappear back to its original position and try again. This may take a few attempts unless you're very fluid in controlling Edward.
There's a trick for catching shanties however. They'll follow the same exact path and will fly up in the same exact spot. You can find the shortest way there and just wait for it to fly towards you. This is very useful instead of following shanties through tricky rooftop chases.
video: S_Early-in-the-Morning
Salt Key Bank
Fish in the Sea
video: S_FishinSea.MP4
Cat Island
The Rio Grande
Found in the small forest to the east of the plantation.
video: S_RioGrande.MP4
Great Inagua
1: Whiskey Johnny
video: S_WhiskeyJohnny.MP4
2: The Wild Goose
video: On a branch near the Mayan Stelae
S_wildGoose.MP4
Grand Cayman
Between two houses, east of the general store
video: S_CapKidd.mp4