Leitt hykk Leifa brautar
geirs við gumna stjóra
geigurþing at eiga,
þás fákhlaðendr frœknir
farligs at vin jarla
húfs með hamri þœfðar
hrings skyrtur framm gingu.
Hykk vôru leitt Leifa brautar lognôrungum at eiga geigurþing geirs við stjóra gumna, þás frœknir farligs húfs fákhlaðendr gingu framm at vin jarla með skyrtur hrings, þœfðar hamri.
I think it was hateful to possessors of the flame of the road of Leifi <sea-king> [(lit. ‘flame-possessors of the road of Leifi’) SEA > GOLD > MEN] to hold the dangerous meeting of the spear [BATTLE] with the steerer of men [RULER], when bold loaders of the steed of excellent planking [(lit. ‘steed-loaders of planking’) SHIP > SEAFARERS] advanced against the friend of jarls [KING] with shirts of the ring, beaten [MAIL-SHIRTS] with the hammer.
 vin jarla ‘the friend of jarls [KING]’: This could, given the context, refer to an ally of Óláfr’s adversary Eiríkr Hákonarson, jarl of Hlaðir (Lade), but it is a conventional king-kenning, and Óláfr may be meant.
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