OceanGate's Five Missing Passengers 'Have Sadly Been Lost,' Company SaysOn Thursday, the U.S. Coast Guard announced that a debris field was found within the search area, identified as belonging to the external body of the submersible.

ByMadeline Garfinkle

Anadolu Agency | Getty Images
The OceanGate Titan has been missing since June 18.

As the search for the OceanGate Titan,a submarine dedicated to Titanic exploration, continues, the company said itbelieves the passengers have "sadly been lost."

On Thursday, the U.S. Coast Guardannouncedthat a debris field was found within the search area, identified as belonging to the external body of the submersible. The debris is consistent with a "catastrophic implosion" of the submersible, said John Mauger, the First Coast Guard District commander, in a press conference.

Mauger also told reporters that the Coast Guard is still working through the timeline of what went wrong in the "incredibly complex" situation.

Related:Two Billionaires Among the Missing on Tourist Submarine Exploring the Titanic

The Titan, a 21-foot submersible, went missing on Sunday, prompting an urgent rescue mission to find the submarine that was intended to take five passengers to the Titanic wreckage site.

After a nearly four day search of the area, the company issued a statement about the fate of the passengers missing.

"We now believe that our CEO Stockton Rush, Shahzada Dawood and his son Suleman Dawood, Hamish Harding, and Paul-Henri Nargeolet, have sadly been lost,"OceanGate saidin a statement, perCNN. "Our hearts are with these five souls and every member of their families during this tragic time."

Related:Rescuers Searching for Lost Titanic Submarine Detect Sounds

OceanGate成立于2009年,专门从事深海expeditions, many of which are in the "adventure tourism" category.

"We signed waivers that would curl your toes," said David Pogue, a reporter who went on the Titan in 2021 on assignment, perNPR. "I mean, it was basically a list of eight paragraphs describing ways that you could be permanently disabled or killed."

The company began offering trips to the wreckage site in 2021 and has made three successful trips since the launch. The cost of a seat is $250,000, per OceanGate's website, which (as of Thursday) is still offering dates for June 2024.

Wavy Line
Madeline Garfinkle

Entrepreneur Staff

News Writer

Madeline Garfinkle is a News Writer at Entrepreneur.com. She is a graduate from Syracuse University, and received an MFA from Columbia University.

Editor's Pick

Related Topics

Data & Recovery

Get 1TB of Cloud Storage for Life for $119.97 With This Back-to-School Sale

This 1TB Cloud Storage Solution Is Only $119.97 for Back to School

Business News

Kevin O'Leary Slams Anheuser-Busch CEO's Listening Tour, Says It Won't Stop Bud Light Backlash for One Huge Reason

Anheuser-Busch U.S. CEO Brendan Whitworth announced plans to hear consumers out this summer.

Money & Finance

Want to Become a Millionaire? Follow Warren Buffett's 4 Rules.

企业家是不能过度指狗万官方望太多a company exit for their eventual 'win.' Do this instead.

Business News

Netflix is Hiring an AI-Focused Role—and the Starting Salary is up to $900,000

The streaming giant is looking for a leader in its machine learning department.

Business News

Kristen Bell and Dax Shepard's Family 'Stranded' at Boston Airport During 9-Hour Delay: 'We Made Quite a Home Here'

The actors spent $600 on pillows and blankets while waiting for their flight.