Understanding the factors that control carbonate systems is an important goal due to the complex interactions between the hydrophysical and chemical–biological conditions in coastal basins. The results of this paper present the state of the carbonate system in Penzhina Bay and its adjacent waters—the Shelikhov Gulf—in July 2023, during spring tides with 13 m height. The area we studied included the length of the largest river in the region, the Penzhina River, from the peak of its summer flood to its boundary with the Shelikhov Gulf (the Sea of Okhotsk). This unique dynamic basin, with a length of about 800 km, was studied over 17 days. During this period, the entire water column of Penzhina Bay, down to a depth of about 60 m, and the surface water layer of the Shelikhov Gulf were undersaturated in terms of CO2, with low levels relative to those of the atmosphere. To explain this observation, the dissolved oxygen, nutrients in mineral and organic forms, humic substances, chlorophyll a, and photic zone thickness are presented for the entire basin under study, together with its hydrological data. The results of daily observations of the carbonate system at fixed anchorage stations characterize two contrasting regions of Penzhina Bay: one that was more exposed to continental runoff, which had salinity levels in the range of 8.0–21.3 psu during one tidal cycle; the second had smaller variations in salinity in the range of 31.6–32.9 psu during one tidal cycle. This study emphasizes the importance of biological processes and continental runoff on the variability of the carbonate system parameters and CO2 fluxes at a water/atmosphere boundary with extreme tidal conditions in this ecosystem that is barely affected by human activities.