OceanGate Expeditions has indefinitely suspended all of its exploration and commercial operations following the catastrophic failure of its Titan submersible in late June.
OceanGate made the announcement via a banner on its website. The company had previously offered expensive tickets to visit the ocean floor and the wreck of the Titanic.
"OceanGate has suspended all exploration and commercial operations," the announcement read in red text.
The company did not immediately respond to a request for further comment from Fox News Digital.
LEGAL EXPERT SAYS FAMILIES OF SUBMERSIBLE VICTIMS HAVE NO CASE FOR SUING OCEANGATE
Photos on June 28 revealed debris from the Titan sub for the first time, as the visibly-damaged scrap was offloaded from a U.S. Coast Guard vessel in Canada.
LEGAL EXPERT SAYS FAMILIES OF SUBMERSIBLE VICTIMS HAVE NO CASE FOR SUING OCEANGATE
The Titan submersible suffered a catastrophic implosion 1 hour and 45 minutes into its descent toward the wreck of the Titanic. The submersible passengers included U.K billionaire Hamish Harding; OceanGate CEO Stockton Rush; father-son pair Shahzada Dawood and Suleman Dawood; and French mariner Paul-Henry Nargeolet.
OceanGate had charged tourists $250,000 for a ticket on the submersible to visit the legendary Titanic wreckage. Legal experts say the families of those aboard do not have a legal avenue to sue the company.
In addition to the debris, recovery teams found "presumed human remains" among the wreckage.
The search for the sub went on for days, and there was speculation that those aboard could still be alive, breathing from the 96 hours' worth of oxygen aboard the craft. Debris from the craft was found on June 22, and all those aboard were confirmed killed.
This is a developing story. Check back soon for updates.
