Owner of the submersible that imploded during Titanic dive suspends operations

WASHINGTON — The company that owned a submersible that fatally imploded on its way to explore the wreck of the Titanic said Thursday it has suspended operations.

OceanGate, a company based in Everett, Washington, owned the Titan submersible that is believed to have imploded as it made its descent on June 18 in the North Atlantic. The implosion killed all five people on board, including Stockton Rush, the submersible's pilot and the chief executive officer of the company.

The company's website said Thursday that it “has suspended all exploration and commercial operations.”

The Coast Guard is investigating the implosion. Human remains were believed to have been recovered from the wreckage shortly after it was found. 

OceanGate is based in the U.S. and OceanGate Expeditions, a related company that led the Titan’s dives to the Titanic, is registered in the Bahamas. The Titan submersible itself “was not a U.S. flagged vessel and was never certified or certificated by the U.S. Coast Guard,” the Coast Guard has said.

For nearly a week, rescue crews searched the ocean near the Titanic, looking for any signs of life from the passengers after contact was lost with them. Although some banging noises were heard during the search, raising hopes that the victims had survived and were waiting for rescue, by the fourth day of searching, the sub's estimated 96-hour supply of breathable air would have run out, ending any possibility of a rescue even if the sub hadn't imploded. 

The submersible was found shortly after by an underwater vehicle designed to handle the pressure at the depth of the ocean floor where the Titanic sunk, near the wreck of the ship.