There are two main types of inorganic carbon that are found in the oceans. Dissolved inorganic carbon (DIC) is made up of bicarbonate (HCO), carbonate (CO) and carbon dioxide (including both dissolved CO and carbonic acid HCO).  DIC can be converted to particulate inorganic carbon (PIC) through precipitation of CaCO (biologically or abiotically). DIC can also be converted to particulate organic carbon (POC) through photosynthesis and chemoautotrophy (i.e. primary production). DIC increases with depth as organic carbon particles sink and are respired. Free oxygen decreases as DIC increases because oxygen is consumed during aerobic respiration.
Particulate inorganic carbon (PIC) is the other form of inorganic carbon found in the ocean. Most PIC is the CaCO that makes up shells of various marine organisms, but can also form in whiting events. Marine fish also excrete calcium carbonate during osmoregulation.
Some of the inorganic carbon species in the ocean, such as bicarbonate and carbonate, are major contributors to alkalinity, a natural ocean buffer that prevents drastic changes in acidity (or pH). The marine carbon cycle also affects the reaction and dissolution rates of some chemical compounds, regulates the amount of carbon dioxide in the atmosphere and Earth's temperature.