We analyze the changes in oceanic carbon dynamics, using a state-of-the-art Earth system model, by comparing two quasi-equilibrium states: the early, warm Eemian (125 ka) versus the cooler, late Eemian (115 ka). Our results suggest a considerably weaker ocean dissolved inorganic carbon storage at 125 ka, an alteration of the deep-water geometry and ventilation in the South Atlantic, and heterogeneous changes in phosphate availability and carbon export between the Pacific and Atlantic basins.