OceanGate suspends operations after ‘Titan’ submersible imploded on its way to the ‘Titanic’

The company that owned a submersible that imploded on its way to explore the wreck of the Titanic, killing all five onboard, said Thursday it has suspended operations. OceanGate announced the action in a brief statement posted atop its website. Contacted for additional information, a spokesperson declined to comment further. Among those killed in the implosion was Stockton Rush, the submersible’s pilot and chief executive officer of the company.

OceanGate had been planning to conduct two “exploration missions” to the wreckage of the 1912 ocean liner in June 2024. Its website’s offer to “join us on a deep-sea adventure to explore the 95% of the seafloor human eyes have rarely seen” has been frozen in time.

In its statement Thursday, OceanGate said it “has suspended all exploration and commercial operations,” but didn’t elaborate.

Investigators believe the Titan imploded as it made its descent into deep North Atlantic waters on June 18. The Coast Guard said last week that human remains have likely been recovered from the wreckage of the submersible and are being examined by medical officials in the U.S.

The U.S. Coast Guard has convened a Marine Board of Investigation, its highest level of investigation, into the implosion, and plans to hold a public hearing in the future. Under its unified direction and with the participation of the Transportation Safety Board of Canada and observers from France and the United Kingdom — the countries of origin of four of the victims — the investigation is trying to determine the cause of the accident. The effect of the implosion, caused by the external pressure of the cabin, disintegrated the bodies of the passengers.

The company that, according to CEO Stockton Rush, was going to become a sort of underwater SpaceX — in reference to the Elon Musk company that has popularized space travel — had been the target of criticism and repeated warnings over issues with its safety certificates. OceanGate is based in Everett, Washington, and OceanGate Expeditions, a related company that led the Titan’s dives to the Titanic, is registered in the Bahamas.

The multiday search and eventual recovery of debris from the 22-foot (6.7-meter) vessel captured attention around the world. The company charged passengers $250,000 each to participate in the voyage. Legal experts have said they expect family members of those killed to file lawsuits not only against OceanGate, but noted that if the company has ceased operating, “there’s essentially no chance of recovering damages,” said Richard Daynard, a distinguished professor at Northeastern University School of Law.

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