Fishing Expedition
Aegir was holding a feast for the gods, but did not have enough ale to be able to invite everyone. Tyr suggested that they go to his father, the giant Hymir, who had a magic cauldron which would allow Aegir to brew almost unlimited ale.
Thor and Tyr had to fetch a cauldron to join Aegir's feast. The giant Hymir possessed the cauldron. After a series of arguments and tests between Thor and Hymir, they set out to sea test their strength.
Note that in Snorri Sturluson's version of this tale, he left out all details concerning Aegir's feast and winning the cauldron.
In the small boat, Thor used rope and a large hook. Thor killed the largest ox in Hymir's herd, then using an ox's head as bait, Thor tossed the hook into the sea. Soon, he caught Jörmungand and there was a titanic struggle between the thunder god and the Midgard Serpent, causing the boat to rock dangerously. Hymir was horrified when Thor brought the serpent's head out of the water. As the god and serpent faced one another, Thor tried to smash his hammer on the monster's head.
Hymir, who saw Jörmungand, was frightened almost to death. There are two different versions of what happened next.
According to the version from Hymiskvida (Poetic Edda), Thor managed to deliver one mighty blow, but failed to kill Jörmungand. Jörmungand escaped back into the sea when Thor's line snapped. Thor and Hymir returned to the giant's home with only two whales.
However, in the Prose Edda, Hymir was frightened by the size of the monster and used his bait-knife to cut off Thor's line. Thor threw Mjollnir at Jörmungand's head, but failed to kill the serpent.
Thor was angry with that the giant for allowing Jörmungand to escape, so the god struck Hymir's ear with his fist. Hymir plunged overboard; the giant's feet could be seen sticking out of the water.
Going back to Poetic Edda's version (Hymiskvida), Hymir told Thor he would give him the cauldron if he went through some tests of strength. The last test was to break the crystal goblet. When Thor threw the goblet on a stone column, it did not break.
One beautiful woman gave Thor some wise advice. Thor picked up the goblet and threw it again, but this time smashing the goblet on Hymir's forehead.
Hymir had no choice but to give his prized cauldron to Thor. Tyr could not even lift the cauldron off the ground. Thor easily carried the cauldron on top of his head.
Hymir and his companions disliked losing to Thor, so they went in pursuit of the two gods into the forest. Thor, realising the danger, decided to confront them. With Mjollnir, Thor killed Hymir and all the giants who had followed him.
Thor returned triumphant to Aegir's feast with the cauldron.
Related Information
Sources
Hymiskvida ("Hymir's Poem") from the Poetic Edda.
Gylfaginning, from the Prose Edda, written by Snorri Sturluson.
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By Jimmy Joe