OceanGate has suspended all of its exploration and commercial operations, the company announced on its website on Thursday.
The announcement comes weeks after five people, including OceanGate CEO Stockton Rush, died in a submersible during an OceanGate expedition to the Titanic wreckage.
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OceanGate Expeditions’ Titan submersible went missing on June 18 about one hour and 45 minutes after embarking on its voyage, leading to a widespread search. Remnants of the submersible were found in the North Atlantic Ocean on June 22 and contained “presumed human remains,” the U.S. Coast Guard said.
The Coast Guard convened a Marine Board of Investigation to look into the buildup to the Titan implosion. The Transportation Safety Board of Canada is also investigating the implosion.
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British billionaire Hamish Harding, French explorer Paul-Henri Nargeolet, Pakistani businessman Shahzada Dawood and Dawood’s 19-year-old son, Suleman, were aboard the Titan with Rush.
OceanGate conducted over 14 expeditions and more than 200 dives into the Atlantic, Pacific and Gulf of Mexico, according to the company’s website. It offered spots on its Titanic expedition for $250,000 apiece.
Its next expedition was scheduled for the Azores in May 2024.
