Spell vann (sparðit stillir)
spjótrunns (skaða bótir)
meingarðr margra jarða
mikit dýrligri skikkju.
Goðvefr gerðisk jǫfri
grôn ok skinn á hônum
sjónfagr svipstund eina
síðan jafn eða fríðri.
Meingarðr margra jarða vann mikit spell dýrligri skikkju spjótrunns; stillir sparðit bótir skaða. Síðan gerðisk jǫfri sjónfagr goðvefr ok grôn skinn á hônum jafn eða fríðri eina svipstund.
The harmful enclosure of many lands [SEA] did great harm to the splendid cloak of the spear-tree [WARRIOR = Þorkell]; the ruler did not hold back from remedying the damage. After that the beautiful precious cloth and the grey fur on it became for the ruler the same or even finer in a single moment.
[3] meingarðr margra jarða ‘the harmful enclosure of many lands [SEA]’: The context and skaldic convention suggest this interpretation (see Meissner 94 for comparable sea-kennings). Sveinbjörn Egilsson (Fms 12, 55) and Konráð Gíslason (1895-7) took the kenning as a reference to Óláfr as fence or protector against harm (perhaps specifically paganism), but this is unlikely.