1 The dreadful fish that has deserved the name 2 Of Death, and like him looks in dreadful hue;
Death > (The morse or walrus, named from the Lapp word morsa, and not from the Latin mors (death), as the bestiarists believed) hue > appearance; colour
3 The grisly Wasserman, that makes his game
grisly > horrible, fearsome Wasserman > merman (German word, from Gesner's Historia Animalium)
4 The flying ships with swiftness to pursue;
flying > {Fleeing; sailing before the wind}
5 The horrible sea-satyr, that does show
sea-satyr > (Satyrus marinus, satyr of the sea: each creature or monster of the land was believed to have its counterpart in the sea)
6 His fearful face in time of greatest storm; 7 Huge xiphias, whom mariners eschew
xiphias > swordfish (Greek)