Closed Cycle definition

Closed Cycle crude oil washing means that the tanker’s slop tank is used as the reservoir for the crude oil wash stock and this wash stock is stripped or cycled back to the slop tank for reuse. Thus, using a defined volume of crude oil for washing of the specified cargo tanks will limit the amount of VOC associated with the wash stock volume as distinct from using fresh crude oil throughout the washing programme.
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Related to Closed Cycle

  • Closed Position means the opposite of an Open Position.

  • Closed Session means a meeting or part of a meeting of a public body that is closed to the public.

  • Closed Period means (i) ten quotation days preceding and three quotation days following the disclosure to the public of the consolidated financial statements or annual statement of the Company; or (ii) the period as from the date the corporate management possesses material information which could, if disclosed to the public, significantly impact the quotation of the Shares of the Company, until ten quotation days after the day such information is disclosed to the public.

  • Closed season means all times, manners of taking, and places

  • Closed-End Fund means any fund with a fixed number of shares and which does not issue and redeem shares on a continuous basis. While Closed-End Funds are often listed and trade on stock exchanges, they are not “Exchange traded funds” as defined below in the Covered Securities definition.