Ítrfermðum réð Ormi
orðsæll jǫfurr norðan
— snǫrp varð at þat sverða
snót — Eireki á móti.
En hýjǫfnum hefnir
hlýrs þeim Gota stýrði
— áðr óx of gram góðan
gunnr — Hôkonar sunnan.
Orðsæll jǫfurr réð ítrfermðum Ormi norðan á móti Eireki; snót sverða varð snǫrp at þat. En hefnir Hôkonar stýrði þeim hýjǫfnum Gota hlýrs sunnan; gunnr óx áðr of góðan gram.
The acclaimed prince [Óláfr] guided splendidly-laden Ormr (‘Serpent’) from the north against Eiríkr; the lady of swords [= Hildr (hildr ‘battle’)] became keen at that. But Hákon’s avenger [= Eiríkr] steered that very straight Goti <legendary horse> of the bow [SHIP] from the south; battle had swelled earlier around the good ruler.
 stýrði ‘steered’: The pres. tense variant stýrir ‘steers’ intensifies the contrast between the two helmingar (see Note to [All] above), but is not strictly necessary.
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