OceanGate Suspends Exploration Operations Following Submersible Implosion

OceanGate is ceasing all exploration and commercial operations following the implosion of the Titan submersible that killed five people, including the company's CEO, Stockton Rush.

The company posted the announcement in red text atop its website, which was inaccessible as of 2 p.m. ET.

"OceanGate has suspended all exploration and commercial operations," the banner said.

The company did not provide any additional details.

The decision to suspend operations comes one week after the United States Coast Guard recovered pieces of the submersible from the bottom of the ocean. Officials said that likely human remains were found amid the wreckage.

In addition to Rush, the other victims killed when the submersible imploded were Hamish Harding, Paul-Henri Nargeolet, Shahzada Dawood, and his 19-year-old son, Suleman Dawood.

OceanGate lost contact with the Titan submersible on June 18 as it was heading down to view the wreckage of the Titanic. Investigators said the submersible suffered a catastrophic implosion and sunk to the bottom of the ocean, coming to a rest about 1,600 feet from the bow of the Titanic. Investigators are analyzing the debris to determine what caused the submersible to implode.