OceanGate, the company that operated the ill-fated Titan submersible that tragically imploded last month, resulting in the loss of all five passengers on board, has made the difficult decision to halt all of its operations. In a brief statement on its website, the company announced the complete suspension of "exploration and commercial activities." Alongside its primary focus on submersible technology, the company had previously advertised tours of captivating destinations such as the Azores archipelago in Portugal and the Bahamas.

An ongoing investigation is currently underway to determine the cause of the implosion that occurred during the sub's dive to the wreckage of the Titanic on June 18. The United States Coast Guard, leading the inquiry, aims to prevent similar accidents from happening in the future. Captain Jason Neubauer, the chief investigator, stated last month that this investigation has been designated the highest level of priority by the Coast Guard and will involve collaborative efforts with authorities from Canada, the United Kingdom, and France. Captain Neubauer also noted that the investigation holds the power to recommend both civil and criminal charges, if necessary.

On June 28, the Coast Guard announced that debris and human remains from the Titan had been successfully recovered and brought ashore, marking an initial stage of the investigation's progress. The collected debris will be transported to a port in the United States for further analysis.

Captain Neubauer recently stated that there is still a significant amount of work ahead for the investigative team, underscoring the complex nature of the case.

Among the unfortunate victims of the incident was OceanGate's CEO, Stockton Rush, aged 61, who had a reputation as a daring explorer and an inspiring leader. Driven by his passion for deep-sea exploration, Rush occasionally disregarded safety warnings in pursuit of his visionary dream. The other passengers who lost their lives were British-Pakistani businessman Shahzada Dawood, 48, and his son Suleman, 19, British businessman Hamish Harding, 58, and Paul-Henry Nargeolet, 77, a former French navy diver.