Vel hefr hefnt, en hafna
hjǫrs berdraugar fjǫrvi,
— folkrakkr, of vannt, fylkir,
framligt — Haraldr Gamla,
es dǫkkvalir drekka
dolgbands fyr ver handan
— roðin frák rauðra benja
reyr — Hôkunar dreyra.
Haraldr hefr vel hefnt Gamla, en berdraugar hjǫrs hafna fjǫrvi — folkrakkr fylkir, of vannt framligt —, es dǫkkvalir dolgbands drekka dreyra Hôkunar fyr handan ver; frák reyr rauðra benja roðin.
Haraldr has avenged Gamli well, and the bare logs of the sword [WARRIORS] give up life — battle-bold leader, you fought outstandingly —, when the dark falcons of the battle-god [= Óðinn > RAVENS] drink Hákon’s blood across the sea; I have heard that reeds of red wounds [SPEARS] were reddened.
[8] Hôkunar: ‘hak̄’ J1ˣ, Bb, Hôkuni FskBˣ
[8] dreyra Hôkunar ‘Hákon’s blood’: This is taken here as acc. sg. object of drekka ‘drink’ (l. 5). Dreyra could alternatively be taken as dat. sg. with p. p. roðin (l. 7), hence ‘(the spears) reddened with Hákon’s blood’.