Influence of anisotropy on velocity and age distribution at Scharffenbergbotnen blue ice area

first_imgWe use a full-Stokes thermo-mechanically coupled ice-flow model to study the dynamics of the glacier inside Scharffenbergbotnen valley, Dronning Maud Land, Antarctica. The domain encompasses a high accumulation rate region and, downstream a sublimation-dominated bare ice ablation area. The ablation ice area is notable for having old ice at its surface since the vertical velocity is upwards, and horizontal velocities are almost stagnant there. We compare the model simulation with field observations of velocities and the age distribution of the surface ice. A satisfactory match with simulations using an isotropic flow law was not found because of too high horizontal velocities and too slow vertical ones. However, the existence of a pronounced ice fabric may explain the present day surface velocity distribution in the inner Scharffenbergbotnen blue ice area. Near absence of data on the temporal evolution of Scharffenbergbotnen since the Late Glacial Maximum necessitates exploration of the impact of anisotropy using prescribed ice fabrics: isotropic, single maximum, and linear variation with depth, in both two-dimensional and three dimensional flow models. The realistic velocity field simulated with a non-collinear orthotropic flow law, however produced surface ages in significant disagreement with the few reliable age measurements and suggests that the age field is not in a steady state and that the present distribution is a result of a flow reorganization at about 15 000 yr BP. In order to fully understand the surface age distribution a transient simulation starting from the Late Glacial Maximum including the correct initial conditions for geometry, age, fabric and temperature distribution would be needed. It is the first time that the importance of anisotropy has been demonstrated in the ice dynamics of a blue ice area. This is useful to understand ice flow in order to better interpret archives of ancient ice for paleoclimate research.last_img read more

Denmark’s largest pension funds sue collapsed shipping company

first_imgHe described the collapse as a “highly negative event on the Danish stock market” and said there was a strong need to clarify events leading up to it and to determine responsibility.The group of investors includes Danish pension funds ATP, PFA, PensionDanmark, DIP, JØP and AP Pension, as well as the investment arms of PenSam, Lærernes Pension and Unipension.In December last year, a smaller group of Danish institutional investors including seven pension funds launched an investigation into the collapse to see whether there were grounds for a case.ATP and PKA said that investigation focussed on errors and flaws in the company’s IPO prospectus, liability in connection with the offering and the sale of shares plus the management’s liability for OW Bunker’s operations in the time between the IPO and the bankruptcy.The investors are bringing two actions – one about prospectus liability against OW Bunker, relevant former members of OW Bunker’s management and relevant entities of Altor, and the other concerning liability for non-compliance with stock exchange disclosure duties against OW Bunker and relevant former members of its management.Altor is the Swedish investment fund that was OW Bunker’s main shareholder.Anders Damgaard, CIO at PFA Pension, said the whole course of events surrounding the IPO and bankruptcy was regrettable.“It should not be possible for the company described in the prospectus to be declared bankrupt only six months after the IPO,” he said.Because of this, he said it was now crucial to find out what went wrong and whose fault it was – “both in order to obtain the best possible compensation for our clients’ losses, to shed light on the weaknesses of the framework conditions for IPOs, and not least to ensure that something like this will not happen again.”In December, ATP said it had invested around DKK150m in OW Bunker.Engineers’ pension fund DIP put its exposure to the company at DKK16m, while lawyers and economists’ pension fund JØP said it had DKK9m invested.Industriens Pension said it lost DKK15m.Other parties may be involved in the actions if more information is obtained, ATP and PFA said.The legal action will take place through Danish courts, and writs are now being prepared.Law firm Bruun & Hjejle will represent the investors in the proceedings, which will, in turn, be assisted by legal firm Accura and auditors KPMG. Denmark’s biggest pension funds, ATP and PFA, are planning to sue collapsed shipping fuel firm OW Bunker as part of a group of institutional investors aiming to recoup more than DKK800m (€107m) lost just six months after the company’s much-heralded IPO.The two pension funds said the group of 27 institutional investors was now instituting legal proceedings concerning prospectus liability and disclosure obligations under securities regulation.The investors together represent claims for more than DKK800m.Kenneth Joensen, chief general counsel at ATP, said: “It is our duty towards ATP’s members to seek to recover as much as possible of the loss incurred as a result of OW Bunker’s bankruptcy.”last_img read more