Harðr hefr ǫrt frá jǫrðu
élvindr — svana strindar
blakkr lætr í sog søkkva
snægrund — skipi hrundit.
Harðr élvindr hefr hrundit skipi ǫrt frá jǫrðu; blakkr strindar svana lætr snægrund søkkva í sog.
The strong storm-wind has pushed the ship quickly away from the shore; the steed of the land of swans [SEA > SHIP] makes the snow-ground [= Iceland] sink into the sea.
[3] blakkr lætr: so W, U, 744ˣ, 2368ˣ, 743ˣ, blakkleitr R, ‘bla er letr’ Tˣ