According to its website, OceanGate, the owner of the ill-fated Titan submersible that tragically imploded during a voyage to the Titanic, resulting in the loss of five lives, has announced the suspension of its exploration and commercial operations.
Last month, Stockton Rush, CEO of OceanGate, was among those who perished in the disaster during a trip to explore the Titanic wreck in the North Atlantic Ocean.
On the website, the company provided no further details apart from a prominent red banner: "OceanGate has suspended all exploration and commercial operations."
However, the website still showcases highlights of expeditions and equipment, as well as providing details on available offerings, such as tours of the Titanic wreckage.
According to their website, in June 2024, OceanGate had planned for two expeditions to the historic wreckage of the Titanic, situated in a secluded area of the North Atlantic.
Read more: The implosion of the Titan sub raises concerns about damage to tourist expeditions
U.S. and Canadian authorities are investigating the cause of the undersea explosion in June that resulted in the loss of lives of five passengers on board.
According to the report, the Titan sub was crushed under immense water pressure at a depth of 3,800 meters in the North Atlantic Ocean, and the victims died on the spot.
Read more: Panicked passengers stuck onboard as Titan submersible spins out of control
OceanGate offered tourist excursions to the Titanic's remains for $250,000 per ticket, using the Titan submersible. The Titanic wreckage lies approximately 12,500 feet beneath the ocean's surface, which is roughly 10 times taller than the Empire State Building.
During the dive towards the Titanic, the Titan sub, with five passengers on board, lost contact with its mother ship on June 18.
An extensive and global search operation took place, and a captivating search effort garnered worldwide attention for several days. On June 22, authorities officially confirmed Titan had suffered a “catastrophic implosion.”
Five victims were confirmed during the expedition on the Titan submersible including British billionaire Hamish Harding, French expert Paul-Henry Nargeolet, founder of OceanGate Expeditions Stockton Rush, Pakistani businessman Shahzada Dawood, and son Suleman.
U.S. and Canadian authorities are investigating the cause of the undersea explosion in June. Additionally, the authorities salvaged what appeared to be human remains from wreckage found on the ocean floor and brought them to St. John's, Newfoundland, Canada.
