Ugglaust Íra byggðir
ókvíðinn lét síðan
él-Freyr Ullar kjóla
endr fíkula brenndar.
Skotland skǫrpum brandi
skjald†fryðr† of nam ryðja;
oddr beit — ulfar sǫddusk —
ódeigr Skota feiga.
Síðan lét ókvíðinn Ullar kjóla él-Freyr endr ugglaust byggðir Íra fíkula brenndar. Skjald†fryðr† of nam ryðja Skotland skǫrpum brandi; ódeigr oddr beit feiga Skota; ulfar sǫddusk.
Then the unworried Freyr <god> of the storm of the ships of Ullr <god> [(lit. ‘storm-Freyr of the ships of Ullr’) SHIELDS > BATTLE > WARRIOR] once fearlessly caused the settlements of the Irish to be powerfully burned down. The shield-... [WARRIOR?] proceeded to clear Scotland with a sharp sword; the unblunt point bit fated Scots; the wolves had their fill.
 Ullar kjóla ‘of the ships of Ullr <god> [SHIELDS]’: This is a recognized type of shield-kenning (SnE 1998, I, 67; Meissner 166), but the myth that must underlie it is now lost; see further Note to Gamlkan Has 64/1VII.
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