Jul 6, 2023 - Economy

Titanic submersible owner OceanGate suspends operations

A trailer with the OceanGate logo is pictured at OceanGate Expeditions' headquarters in the Port of Everett Boat Yard in Everett, Washington, on June 22. Photo: Jason Redmond / AFP via Getty Images

The company whose submersible imploded on its voyage to the wreckage of the Titanic is suspending operations.

Driving the news: OceanGate Expeditions said on its website that it "has suspended all exploration and commercial operations."

  • The decision comes after the pilot and four passengers of the company's Titan submersible died when it apparently imploded during its journey to the bottom of the sea.
  • OceanGate Expeditions CEO and Titan pilot Stockton Rush was among those killed.

Details: In addition to the Titan, OceanGate has another submersible: the Cyclops 1, which according to its website is capable of transporting up to five passengers to depths of 500 meters.

  • An OceanGate spokesperson did not immediately respond to a request seeking comment.
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