Eyðendr, fregnk, at elska þjóðir
— inndrótt þín es hǫfð at minnum —
grœði lostins goði it næsta
geima Vals í þessum heimi.
Fregnk, at þjóðir elska eyðendr Vals geima, lostins grœði, it næsta goði í þessum heimi; inndrótt þín es hǫfð at minnum.
I hear that people love the clearer of the Valr <horse> of the ocean [SHIP > SEA-WARRIOR], lashed by the swell, next after God in this world; your personal troop is held in memory.
[1] fregnk (‘fregn ec’): frá ek H, Hr
[1] fregnk ‘I hear’: The pret. variant frák (so H, Hr) would give equally good sense.