Ocean Sciences (ASX:OSS) Opens Iota-Carrageenan Market With 25-Tonne Spinosum Seaweed Sale

Sonal Goyal

21 October 2026 01:23 PM AEDT

Ocean Sciences (ASX:OSS) Opens Iota-Carrageenan Market With 25-Tonne Spinosum Seaweed Sale

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Key Highlights

Ocean Sciences has made its first commercial sale of Spinosum seaweed, taking its trading beyond the Cottonii species for the first time.
The sale is a purchase order for 25 metric tonnes from an existing Chinese customer, Greenwich (China) Technology Development Limited.
The shipment has arrived at Xiamen Port in China, and delivery to the customer is subject to customs inspection and clearance.
Spinosum is the principal raw material for iota-carrageenan, and the company says Spinosum and Cottonii together account for about 90% of the seaweed used in global carrageenan production.

Ocean Sciences Ltd (ASX:OSS) has secured the first commercial sale of Eucheuma spinosum seaweed, known as Spinosum, through its Indonesian operating subsidiary, PT BPH Global Indonesia. The sale is a purchase order for 25 metric tonnes from an existing Chinese customer, Greenwich (China) Technology Development Limited, and the shipment has already reached Xiamen Port in China. Delivery to the customer remains subject to customs inspection and clearance. Until now the company's seaweed trading has centred on a different species, Kappaphycus alvarezii, known as Cottonii, so the order widens the range of seaweed the company sells beyond a single product.

Order Details and Where the Shipment Stands

The order came from Greenwich (China) Technology Development Limited, which Ocean Sciences described as an existing customer. A purchase order is a customer's formal request to buy a stated quantity, and here the quantity is 25 metric tonnes of Indonesian Spinosum, equal to 25,000 kilograms. PT BPH Global Indonesia, the subsidiary through which the company runs its Indonesian seaweed trading, secured the sale. Because Greenwich already buys from the company, what is new is the product rather than the buyer: the customer relationship predates the Spinosum order, and the species is what is being introduced.

The cargo has arrived at Xiamen Port in China. Before it reaches the customer it must pass through the applicable customs inspection and clearance procedures, so delivery to Greenwich has not yet taken place. The shipment is therefore in China, while handover to the buyer depends on those procedures being completed. Ocean Sciences did not disclose the value of the order or a delivery date. The status therefore has two stages: arrival at port, which has occurred, and delivery to the customer, which is pending.

Cottonii and Spinosum: Two Seaweeds, Two Carrageenan Types

Ocean Sciences described its seaweed trading to date as focused on Kappaphycus alvarezii, or Cottonii, which is primarily used in the production of kappa-carrageenan. Spinosum is the principal raw material for iota-carrageenan, which the company called a distinct form of carrageenan. It listed applications of iota-carrageenan that include dairy desserts, plant-based food products, personal care products and pharmaceuticals. Spinosum therefore gives the company access to the iota-carrageenan market, a segment separate from the kappa-carrageenan market that Cottonii supplies.

The company also set out the scale of the two species within carrageenan production. Ocean Sciences describes itself as a commercial seaweed supply, research and development company. The company said Cottonii and Spinosum are the two principal commercially cultivated carrageenan-producing seaweed species, and together they account for approximately 90% of the seaweed used in global carrageenan production. That leaves about 10% to other seaweed. With the first Spinosum sale secured, Ocean Sciences now trades both of the species that make up that 90% share.

Management's Rationale and Supply Chain Base

Ocean Sciences said that by adding Spinosum it is positioning itself to serve a broader range of customers across the global carrageenan market. It said it is drawing on its established Indonesian seaweed procurement network, quality control processes and export infrastructure to do so, meaning the sourcing, checking and shipping arrangements built around Cottonii are being used for a second species.

Managing Director Matthew Leonard called the first Spinosum sale another step in developing the Indonesian seaweed trading business. He said that, having built the trading operations around Cottonii, the addition of Spinosum lets the company take part in a separate segment of the global carrageenan market. Leonard said the company believes broadening its product range will help expand its customer base, increase trading volumes and strengthen its position as a supplier of Indonesian seaweed to international markets.

The company added that it will continue to pursue expansion of its trading across both Cottonii and Spinosum as part of a strategy to develop a diversified and scalable international seaweed business.

Where the Spinosum Sale Leaves Ocean Sciences

Ocean Sciences Ltd (ASX:OSS) now has a second seaweed in its trading range, with a 25-tonne Spinosum purchase order from Greenwich (China) Technology Development Limited sitting at Xiamen Port awaiting customs inspection and clearance. The sale gives the company a position in iota-carrageenan, a distinct segment from the kappa-carrageenan market linked to Cottonii. The company described the expansion as part of a wider plan to build a diversified and scalable international seaweed business, with its Indonesian procurement network, quality control processes and export infrastructure cited as the base for the trade.

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