Gráns (bera gollna spônu)
— gǫfug ferð es sú jǫfri —
skýtr holmfjǫturr Heita
hrafni (snekkju stafnar).
Holmfjǫturr skýtr hrafni gráns Heita; stafnar snekkju bera gollna spônu; sú ferð es gǫfug jǫfri.
The island-fetter [SEA] pushes the horse of the hostile Heiti <sea-king> [SHIP]; the prows of the warship bear golden plates; that journey is glorious for the prince.
[3] holm‑: so W, 744ˣ, 2368ˣ, 743ˣ, ‘hvm‑’ R, ‘hiolm‑’ Tˣ, ‘hlomn‑’ U