OceanGate said it is suspending all exploration and commercial operations weeks after its submersible imploded near the Titanic wreckage site killing all five people on board.
The company made the announcement Thursday, posting a brief message on the top of its website. "OceanGate has suspended all exploration and commercial operations," it read.
About two weeks ago, human remains were recovered from the wreckage of the Titan, a submersible operated by OceanGate Expeditions that was carrying the company's CEO Stockton Rush, British billionaire Hamish Harding, French diver Paul Henry Nargeolet, prominent Pakistani businessman Shahzada Dawood and his son, Suleman, on a voyage to explore the remnants of the luxury cruise liner that sank 111 years ago.
It was the OceanGate submersible's third trip to the remains and cost $250,000 per traveler.
Debris from the Titan was found on the ocean floor near the bow of the Titanic. A remote-operated vehicle was sent roughly 12,500 feet underwater to recover the sub's remains.
What appeared to be chunks of the Titan were transported to the Horizon Arctic, a Canadian ship. It's unclear what parts were recovered; one particularly large piece could be seen with several large wires attached to it.
The dive started from the Polar Prince, a Canadian research vessel, on June 18 but an hour and 45 minutes in the Polar Prince lost contact with the Titan, sparking a frantic four-day search that captured the world's attention. Multiple countries sent resources to help find the sub.
Initially, there were concerns that the Titan would run out of air before rescuers could get to it, but officials believe the sub suffered a "catastrophic implosion" that instantaneously killed the crew. The cause remains under investigation.
Dawood's parents released a statement after the remains were found, asking people to "keep the departed souls and our family in your prayers." Suleman's aunt, Azmeh Dawood, recalled how he had been "terrified" about going on the submersible. He did it because the trip fell on Father's Day weekend and he wanted to please his father, who Azmeh Dawood said was "absolutely obsessed" with the Titanic from a young age.
She said their deaths were an "unreal situation."
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The Transportation Safety Board of Canada launched a safety investigation into the incident. Several past passengers have shared eerie accounts of safety and design issues and communication failures. A former employee claimed he was fired after he raised concerns.
One of those passengers, Brian Weed, a camera operator for Discovery Channel's "Expedition Unknown" recalled how "things started going wrong" the moment he started a test dive on the Titan in May 2021. He said "there were malfunctions with the propulsion system," leaving the passengers like "sitting ducks in the water."
Weed also expressed concern about the sub's door being bolted from the outside. He ultimately declined an invitation to dive again a week later.
Josh Gates, the host of "Expedition Unknown," told NBC News' Tom Costello that he thought the sub needed more testing.
Colin Taylor, who went on the submersible when it explored the Titanic site last July, described the communication system as "very difficult."
However, Aaron Newman, a former Titan passenger on the missing Titan and an investor in OceanGate, said he felt "safe" during his voyage but said there are risks in taking such expeditions.
The Transportation Safety Board of Canada said its investigation will focus on finding "all causal and contributing factors" in the incident "without attributing blame or civil or criminal liability." The National Transportation Safety Board will investigate what happened and issue any safety recommendations to prevent a similar tragedy from happening in the future.
— Doha Madani, Daniel Arkin, Marlene Lenthang and Melissa Chan contributed.