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OceanGate Suspends Operations After Loss of Titan Submersible

OceanGate said it has halted all exploration and business operations.

Brandon Sapienza
A logo on equipment stored near the OceanGate Inc. offices in Everett, Washington, US, on Thursday, June 22, 2023. The five crew members on the missing OceanGate Titan submersible that was headed to the Titanic died from a "catastrophic implosion" of their vessel. Photographer: David Ryder/Bloomberg

(Bloomberg) -- OceanGate said it has halted all exploration and business operations, just a few weeks after five people were killed in a company-owned submersible on an expedition to see the wreck of the Titanic. 

A banner on the company’s website announcing the news offered no further details. 

Last month, a multinational search effort took place after OceanGate’s Titan submersible went missing near the Titanic’s resting place in the North Atlantic Ocean. The US Coast Guard announced days later it had found the submersible, saying it suffered a “catastrophic implosion.”

OceanGate did not immediately respond to a request for comment by phone.

More stories like this are available on bloomberg.com

©2023 Bloomberg L.P.

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