Ungr skjǫldungr stígr aldri
jafnmildr á við skildan
(þess vas grams) und gǫmlum
(gnóg rausn) Ymis hausi.
Jafnmildr ungr skjǫldungr stígr aldri und gǫmlum hausi Ymis á skildan við; rausn þess grams vas gnóg.
Never beneath the ancient skull of Ymir <giant> [SKY/HEAVEN] will an equally bounteous young king step aboard a shield-hung vessel; the magnificence of that lord was ample.
[2] skildan: so U, skjaldar R, W, B, 743ˣ, ‘scildar’ Tˣ, skjalda 2368ˣ
[2] skildan ‘shield-hung’: (a) This reading, although only in ms. U, is supported by the similar scildar in Tˣ. It is m. acc. sg. p. p. from skilda ‘array with shields’, and it qualifies við ‘(timber) ship, bark’ (so Björn Magnússon Ólsen 1909a, 293-4). (b) Skjaldar ‘of the shield’ does not make sense in the context, nor does it supply the necessary aðalhending with mildr.