Trautt erumk lausa at láta
— leiðs oss konungs reiði —
(gjarn es gramr at arna)
Grímsey (of trǫð fleyja).
Hǫldum vér fyr hildar
— hanns dýrr konungr — stýri
holmgjarðar — fremsk hilmir
hagli peitu — nagla.
Erumk trautt at láta Grímsey lausa; reiði konungs [e]s oss leið; gramr es gjarn at arna of trǫð fleyja. Hǫldum vér nagla holmgjarðar fyr stýri hildar; hanns dýrr konungr; hilmir fremsk hagli peitu.
I am reluctant to let Grímsey go; the king’s anger is hateful to us [me]; the prince is eager to travel over the path of vessels [SEA]. Let us hold the stud of the islet-belt [SEA > ISLAND] against the controller of battle [WARRIOR]; he is a splendid king; the ruler advances himself by the hail of the spear [BATTLE].
[4] of: und 61
[4] of trǫð fleyja ‘over the path of vessels [SEA]’: Ms. und would yield the sense (or rather nonsense) ‘under the sea’, and emendation to um, hence normalised of ‘over’, has been generally accepted.