The gods of asgard have traveled to visit the place of Aeger, a sea diety worshipped by many sailors. The banquets in his place were legendary. But Aeger was not in the mood to organize a grand feast for the gods. He came up with an excuse and said “ I would love to welcome but since you are many, i wont be able to produce the mead you desire. To satiate the gods you would need a huge cauldron.” 

Tyr, the god of war, whose father was Heimir, a giant, knew that his progenitor had a huge cauldron that would satisfy Aegar's needs. So Tyr and Thor went to search for the giant. As they arrived at his house, they asked his mother to lend him the huge cauldron but she replied that tyr should please Haimir. So the giants invited them for a meal. Thor devoured a whole ox and seeing this the giant said that he was going out to fish some whales. Thor insisted on going with him but the giant said that this was not to be a job for the tiny Asgardians. Thor, feeling challenged claimed that he was a better fisherman than anyone else. So they set out to fish.

The giant first caught a huge whale and challenged thor to catch something bigger. So he paddled the boat to even deeper waters. Haimir warned thot that this was the territory of Jormungandr, the serpent of the world, but this did not scare thor. He used a bulls head to start his fishing trip. As he felt something big has been caught, the boat started to be pulled by the creature. The giant serpent emerged as thor has succeeded in capturing Jormungandr. Haimir warned thor to cut the fishing line otherwise they would be taken to the bottom of the ocean. But thor did not listen and the fight between thor and Jormungandr continued. Thor managed to bring the creature closer to his hammer. But just as he was about to strike,  haimir cut the fishing line and Jormungandr managed to escape at the last minute.

Thor was furious by Haimir's actions but held himself from smashing the giants head as he was the father of Tyr and they still needed the cauldron. After that, they took the cauldron and Aegar made plenty of mead for the gods who had wonderful time during their stay. But while everyone were enjoying, Thor couldnt forget Jormungandr and vowed to kill that vile creature. And they met again in Ragnarok.