An aftermarket closed loop cooling system was installed on my 1998 Mercruiser 7.4l engine about 7 years ago. I recently replaced the water pump and thought I would replace the thermostat while I was at it. There was no thermostat installed. The boat has been running at about 153 degrees F and I know it should have a 165 degrees F thermostat (typically). I tried installing a thermostat and the engine heated to 200 degrees F + and I shut it down and removed the thermostat. So, it's now running at 153 degrees F again. I tested the t-stat in boiling water and it opened up, so it was good. Does a closed loop cooling system not require a t-stat? Am I losing power, efficiency and engine longevity running at 153 degrees F, in lieu of 165 - 170 degrees F?