[All]: Frank 1972 develops an elaborate interpretation in which this st. is not about a woman, but about Rǫgnvaldr’s ship Hjǫlp, as he ironically gives it a gold ring while it sinks. This interpretation does help to situate the st. in its prose context better than any other, but it depends on a double ofljóst ‘too transparent’ and Frank acknowledges that there is ‘no recognized double-entendre linking women and ships in Old Norse poetry’ (1972, 231).