My answer is inspired by @Stiv's answer.
I think it describes a journey from
the north pole to London, Kiribati via N0° E0° and the intersection of the date line and the equator (N0° E180°).
A travel starts, for our hero
From a spot, where the time is zero
To fantasy land she'll go first
Though only water, she'd die of thirst
The starting point is the North Pole, as Stiv explained.
However, I do believe that 'fantasy land' refers to Null Island.
This fits hint 4: Despite being called 'island' no one ever stood there since it's in the ocean, and a lot of places erroneously have these coordinates as its often used as a default placeholder coordinates (hence 'where errors find their place of birth').
'Though only water, she'd die of thirst' refers to the Atlantic salt water.
Then east or west, it doesn't matter
Either way, that's where isles scatter
As far as possible she'll travel
But where she's gone, she'll not unravel
She starts to count all that's around
She shouts all numbers, but there's no sound
With compass and raft, she will be fine
She'll sail until she finds the line
She is going on the equator to the International date line. It does not matter whether she goes east or west since the distance to Null Island is the same in either direction since it as far away from Null Island as possible.
Islands scatter there since the regions, Micronesia and Polynesia, are full of small islands and atolls.
'With compass and raft, she will be fine' might refer to the early polynesian civilzations who already travelled between these remote islands with small boats (and probably not even a compass but rather navigation via the stars).
I am just not sure what the counting might refer to...
Hunger starts to kill her mood
It's time to find some needed food
Bird or fish, or beef or veal
or maybe something she can peel
She follows the date line in the ocean where obviously she will not find any food.
However, close to the date line is the island nation of Kiribati, where a town called Banana - something you can indeed peel in its usual meaning - is located.
Finally, she's almost here
She starts to walk, that's fine from there
London is where she'll find her rest
Her chosen route was not the best
Once she sets foot on Kiritimati (the atoll on which Banana is located) she can walk to London, Kiribati.
'Her chosen route was not the best' because the detour via Null Island was not necessary.
I do really hope this is correct since
I always found Kiribati a fascinating place and was very excited to apply my otherwise pretty useless knowledge of I-Kiribati settlements (yes, that's the proper adjective).