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OceanGate suspends all exploration and commercial operations following death of five explorers
6 July 2023, 18:07 | Updated: 6 July 2023, 18:56
OceanGate is suspending all of its exploration and business operations following the death of five explorers on the company's Titan sub.
Five people died in a catastrophic implosion while aboard the Titan sub, including the company's CEO Stockton Rush.
Rush had been travelling down to the Titanic wreckage with British billionaire Hamish Harding, French explorer Paul Henry Nargeolet, businessman Shahzada Dawood and his son, Suleman.
A banner on the company's website reads: "OceanGate has suspended all exploration and commercial operation."
An investigation into the Titan tragedy was launched following the catastrophic implosion in June.
The Transportation Safety Board of Canada (TSB) said it would launching an investigation into the fatal incident, sending a team of investigators to Newfoundland to gather information and conduct interviews.
Days after the US Coast Guard announced the Titan five were killed in a catastrophic implosion, "presumed human remains" were found on the debris.
The US Coast Guard said in a statement at the time: "United States medical professionals will conduct a formal analysis of presumed human remains that have been carefully recovered within the wreckage at the site of the incident."
Jason Neubauer, a captain with the Marine Board of Investigation, said: "The evidence will provide investigators from several international jurisdictions with critical insights into the cause of this tragedy.
"There is still a substantial amount of work to be done to understand the factors that led to the catastrophic loss of the Titan and help ensure a similar tragedy does not occur again."
Following the catastrophic implosion, details emerged about how Mr Rush built the doomed sub, with a number of people expressing safety concerns.
David Lochridge was raising the alarm about a raft of issues onboard when he carried out a check on the Titan.
According to the New Yorker, he found an iridium satellite beacon had been secured with zip ties, the floor was highly flammable and thruster cables represented "snagging hazards".
Lochridge, who worked as director of marine operations, was sacked after voicing his worries.
He ultimately warned Rush risked killing "himself and others in the quest to boost his ego" and branded the Titan "an accident waiting to happen".