OceanGate Suspends Operations After Titanic Sub Implosion

OceanGate, the firm responsible for operating the tourist submarine that collapsed during an expedition to the Titanic’s century-old wreckage, has “put a halt to all exploration and commercial activities,” as revealed on its website on Thursday.

The incident occurred in the North Atlantic on June 18, during OceanGate’s submersion. The catastrophic failure led to the deaths of all five passengers, among them Stockton Rush, the submarine’s operator and OceanGate’s CEO.

The Coast Guard has launched an inquiry into the disastrous event.

OceanGate, a U.S.-based company, has a subsidiary, OceanGate Expeditions, which is registered in the Bahamas and had spearheaded the Titan’s voyages to the Titanic. According to the Coast Guard, the Titan submersible was “not registered under the U.S. flag, nor had it ever received certification from the U.S. Coast Guard.”