>I am not sure if this would be considered on topic or not, so my apologies if
>it isn't.

It's just perfect as far as I'm concerned.

>The two strophs (is that the correct terminology?) are these:

I use "strophe" for simple verse "stanza" for elaborate (rhymed) verse.
Doesn't matter much, though.

I have translated as literally as I could:

Hrymr drives from the east;
[he] has a shield before [himself]
Jörmungandr {the great staff} turns
in giant-rage.
[The] worm drives [the] waves
and [the] eagle screeches
Niðfölr {down-pale} tears apart corpses
Naglfar loosens.

[The] ship goes from the east / [A] ship goes from the east
Múspell's people will come
over [the] sea
and Loki steers.
All sons of [the] fool
go with [the] wolf
the brother of Býleistr
is with them in [the] journey.

Notice that the definite article isn't used much in poetry
so you have to decide whether a given word is definite or not.
In this case you can take "kjóll" to refer to "a new ship" or
"the ship already mentioned" (which I find more natural).

Latin would have the same problem wouldn't it?
(Navis oriente transit??;).

>Also some of the translations consulted were Hollander, Terry and Thorpe.

I like those - but if you're looking for literal translations they're probably
not very good.

>Any opinions on Simek?

Oh well... use it to get ideas but always look things up in the primary
sources.
Don't rely on a work such as Simek's.

Regards,
Haukur