This was announced in a short statement posted on the company’s website. When contacted for more information, a spokesperson declined to comment further. Among the victims of the incident was Stockton Rush, the diver’s pilot and CEO of OceanGate.

OceanGate announced in a statement that all exploration and commercial operations were suspended, without providing further details. Travel reservations and access to certain site features are currently unavailable, although the company’s website still features a photo of the Titanic’s wreck with the tagline “Explore the world’s most famous shipwreck.”

Information about the shutdown on the company’s website / 24 Channel screenshot

Human remains found in submarine wreck

According to the investigation, Titan’s explosion occurred during its dive. The services that carried out search and rescue efforts in the past days reported that human remains, presumably belonging to the dead, were removed from the wreckage of the underwater vehicle. American doctors are currently examining these remains.

• Debris from the submarine’s center explosion, which occurred at a depth of about 3,810 meters, was picked up by remotely operated vehicles (ROVs).
• The next operation was to ship the wreckage to a Canadian port for inspection.
• The wreckage was found about 488 meters from where the Titanic crashed.

OceanGate faces lawsuit

Headquartered in Everett, Washington, OceanGate operates under the umbrella of OceanGate Expeditions, a Bahamas-based sister company that manages Titanic dives.

Lawyers expect the victims’ families to file lawsuits not only against OceanGate, but also against the submarine’s manufacturer and suppliers of its components. However, according to Northeastern University Law School professor Richard Deynard, the potential for losses would be greatly reduced if OceanGate were to go completely bankrupt.

It’s worth noting that passengers are probably required to sign a liability waiver before embarking on an OceanGate cruise. Such a waiver, signed by a person planning to travel, acknowledged potential risks, including physical injury, disability, emotional trauma, and death.

Let us remind you that, in addition to Stockton Rush, the victims of the explosion were Shahzada Dawood, members of a well-known Pakistani family, and his son Suleman Dawood, British adventurer Hamish Harding and Titanic expert Paul-Henri Narjolet. Each passenger paid $250,000 for the opportunity to join the trip.