Here’s my translation
11. Utanför Hrafns með Guðmundi byskupsefni.
11. Hrafn’s journey-abroad with Guðmundr bishop-elect.
Sá atburðr gerðist norðr at Hólum at byskupsstóli, at Brandr byskup tók sótt ok andaðist fjórum nóttum fyrir Laurentiusmessu.
That incident happened north at [the] episcopal-seat at Hólar, that bishop Brandr took ill and died four nights before Laurentius-mass (Feast of St Lawrence, 10 August).
Ok er hann var andaðr, þá var körinn til byskups af Norðlendingum Guðmundr, sonr Ara Þorgeirssonar, Hallasonar, Ormssonar, Gellissonar, Omssonar, Hallasonar ins hvíta.
And when he was dead, then Guðmundr - son of Ari, son-of-Þorgeirr, son of Halli, son-of-Ormr, son-of-Gellir, son-of-Ormr [typo?], son-of-Halli the White - was chosen (ie elected) as bishop of [the] folk of the North-quarter (of Iceland).
Móðir Guðmundar hét Úlfheiðr Gunnarsdóttir.
[The] mother of Guðmundr was-called Úlfheiðr daughter-of-Gunnarr.
Ok er hann var körinn til byskups, þá sendi hann orð Hrafni Sveinbjarnarsyni, at hann skyldi koma á fund hans norðr í Miðfjörð.
And when he was chosen (ie elected) as bishop, then he sent word to Hrafn Sveinnbjörn’s-son, that he should come to see him (lit: to a meeting of him) north in Miðfjörðr.
Hrafn fór á fund byskupsefnis, svá sem hann sendi orð til, ok er þeir fundust, þá bað byskupsefni, at hann skyldi fara utan með honum, því at honum þótti hann bezt til fallinn þeirar ferðar fyrir vizku sakir ok vinsældar, er hann hafði utanlendis.
Hrafn journeyed to see (lit: to a meeting of) [the] bishop-elect, as he (ie Guðmundr) sent word for such [ie for that purpose] (<til>, Z4), and when they met-one-another, then [the] bishop-elect asked, that he (ie Hrafn) should journey abroad with him (ie Guðmundr), because, [it] seemed to him (ie Guðmundr) he (ie Hrafn) best fitted for that journey for reasons of wisdom and [the] popularity, which he had abroad.
Var þar ok in mesta vinátta með þeim Hrafni ok Guðmundi inum góða, ok því helt, á meðan þeir lifðu báðir.
The greatest friendship was also there (ie also existed at that point) between them, Hrafn and Guðmundr the good, and that continued (<halda>, Z8, impers with dat), while they both lived.
Frá þessu sagði Guðmundr Svertingsson:
About this, Guðmundr Svertingr’s-son said:
see under Option B
Guðmundr bauð inn góði,
getk jafnan þess, Hrafni,
síð mun at enda óðar,
útferð með sér, lúta.
Farar leizk flotna stýri
fallinn bezt með öllu
geira veðrs til góðrar
Guðmundr inn góði bauð Hrafni útferð með sér.
Guðmundr the Good (<góði>, not <goði>) offered Hrafn a journey-abroad with him.
Getk jafnan þess.
I mention (<geta> with gen, Z.ii) that constantly.
Síð mun lúta at enda óðar.
Late will [I] be-thankful for (or, perhaps, bow down for, <lúta>, Z4?) [the] end (<endi>, noun?) of [the] poetry (looks like a genitive ending to me).
Flotna stýri leizk geira veðrs gangnistir með öllu bezt fallinn farar til góðrar forvistu:
[The] warrior (eagle-feeder of [the] wind of spears, <gangnistir> nominative, probably = <gjóðnistir> Lexicin poeticum, 1931) sought [the] captain (acc of <stýrir> = <stýrimaðr>) of seamen (ie the leader of men, chief) best fitted withal for journeys on account of good leadership.
Guðmundur hinn góði bauð Hrafni utanför með sér.
Guðmundr the good invited (<bjóða> not <bíða>) Hrafn to a journey-abroad with him.
Eg get þess oftlega.
I mention (<geta> with gen, Z.ii) that often.
Seint mun kvæðið enda.
Late will [I] the-poem bring-to-an-end (<enda>, verb).
Höfðingjanum leizt bardagamaðurinn (Hrafn) að öllu leyti bezt fallinn til fararinnar til góðrar forustu.
The warrior (Hrafn) sought the chief, in every part best fitted for the-journey by reason of (<til>, Z4) leadership.
Ok fyrir því at Hrafn var vinr Guðmundar, þá hét hann honum förinni, ok eftir þat fór Hrafn vestan ór fjörðum norðr til skips í Eyjafjörð á fund Guðmundar byskupsefnis.
And for that that (ie because) Hrafn was a friend of Guðmundr, then he promised him the-journey (ie promised to take the journey), and after that Hrafn journeyed from-the-west out-of [the] fjords north to [the] ship in Eyjafjörðr to a meeting with Guðmundr bishop-elect.
Í þeiri för var með Hrafni Tómas Þórarinsson, annarr maðr Þórðr Vermundarson, þriði Eyjólfr Snorrason.
On that journey with Hrafn was Tómas Þórarinn’s-son; a second person [was] Þórðr Vermundr’s-son, a third Eyjólfr Snorri’s-son.
Byskupsefni varð feginn Hrafni ok hans förunautum.
[The] bishop-elect was glad of Hrafn and his travelling-companions.
Ok er sldp var búit ok veðr gaf til, þá létu þeir í haf.
And when [the] ship was ready and [it] gave wind/weather towards [it], (ie they had favourable wind/weather), then they put-out to sea.
Þeim byrjaði erfiðliga um sumarit ok váru lengi úti.
[It] blew adversely for them (ie they got adverse winds, (<byrja>, impers) during the-summer and [they] were a long-time out [at sea]
Rak þá suðr í haf, svá at þeir höfðu fogl af Írlandi.
[It] drove them south (ie they were driven south) in [the] sea, so that they had a fowl (masc sg acc) off Ireland (ie they were within 50-70 miles of the Irish coast).
Allir vinir Hrafns urðu honum fegnir, er hann kom heim, en hann valdi sínum ástvinum, þeim er hann fundu, góðar gjafir.
All friends of Hrafn became glad of him, when he came home, but (and) he chose (picked out, <velja>) good gifts for his dear-friends, those whom he met,
Svá segir Guðmundr:
So says Guðmundr:
see under Option B.
Hverr gekk hyrjar þverrir
hodda brjót at móti,
hrings es heim kom slöngvir,
en menfergir mörgum
mótrunn frömum spjóta,
æ sé efri skýjum
ókvalðr, gjafar valði.
Hverr haukstrandar hyrjar þverrir gekk fagnandi at móti hodda brjót, es hrings slöngvir kom heim.
Each generous man (adversary of [the] arm of fire [sword], Lexicon Poeticum, 1931) went rejoicing (in good cheer) to a meeting of [the] breaker of treasures (ie man), when [the] distributor of [the] ring (ie man) came home.
En menfergir valði gjafar mörgum frömum spjóta mótrunn.
But [the] generous man chose gifts for many a prominent (<framr>) ‘meeting-tree’ (presumably this is the dat sg form of <mótrunnr> = <mótruðr>, Lexicon Poeticum, 1931) of spears (ie warrior)
Æ sé ókvalðr efri skýjum:
Always [he] would-be untormented above [the] clouds (ie in heaven).
Hver maður gekk fagnandi á móti hinum örláta manni, er hann kom heim.
Each person (man) went rejoicing (in good cheer) to a meeting with that open-handed (generous) person (man), when he came home.
En hann valdi gjafir mörgum hraustum bardagamanni.
But (And) he chose (picked out, <velja>) gifts for many a valiant warrior.
Lifi hann ætíð ókvalinn ofar skýjum.
He would-live always untormented (at peace) higher-up than (ie above) [the] clouds (ie in heaven).