Nús jódraugum ægis
arnar flaug (ok bauga
hygg, at heimboð þiggi
hangagoðs) of vangi.
Nús flaug arnar of vangi ægis jódraugum; hygg, at þiggi heimboð hangagoðs ok bauga.
Now there is an eagle’s flight above the field for the logs of the steed of the ocean [(lit. ‘ocean’s steed-logs’) SHIP > SEAFARERS]; I believe that they may receive an invitation from the god of the hanged [= Óðinn] and rings.
[2] bauga: hauga U
[2] ok bauga ‘and rings’: It is not mentioned anywhere that Óðinn’s warriors (einherjar) received rings as gifts in Valhǫll, and it appears that the poet imagined the feasting there as a stereotyped banquet scene involving the consumption of alcoholic beverages and the distribution of precious objects.