The strategy for Hammerfest Level 9, Toy Boat, is to release the boat to make it swing. The troll will eventually fall into the boat and get hammered into oblivion. Release the Viking when the boat reaches its apex on the right. If your objective is par, then your 2 cuts have been used; if your objective is coins, release the treasure chest when the boat reaches its right apex.
If you have a different strategy for completing this level feel free to leave a comment below.