The Blue Economy aims to balance sustainable economic benefits with longterm ocean health, in a manner which is consistent with sustainable development and its commitment to intra- and inter-generational equity. The term has also been used to give greater recognition to the many, though often not priced, ocean values ranging from cultural worth and village-based subsistence economies, to commercial and industrial commodities. Under this definition, not all ocean-based activities are consistent with the Blue Economy concept, because many ocean activities are not sustainable. Blue Economy, significantly advances practice beyond existing sustainable development frameworks. A proliferation in terms adds more complexity to an already challenging management space. Nevertheless, the conceptual framework is useful for structuring evaluations of practice, and helping to reveal missing ingredients necessary for the sustainable development of oceans. This paper examines the Blue Economy concept as an analytical frame for assessing initiatives aimed at achieving sustainable oceans development and management, with a particular focus on marine biorefinery as an example of an important sector within a Blue Economy. The policy implications of a rapidly evolving Blue Economy, across multiple sectors, are highlighted.