--- description: OceanGate said it has halted all exploration and business operations following the fatal Titan accident. title: OceanGate Suspends Operations After Loss of Titan Submersible image: https://static.time.com/v3/assets/bltea6093859af6183b/blt9ea32f73956a232c/698a3e7122fb85fc5ae2ed3a/oceangate-suspends-operations-after-titan-loss.jpg?branch=production&width=2400&quality=75&auto=webp&crop=16:9 ---  * [Business](/section/business/) ## Business Update your preferences in [Account Settings](/account/preferences/) Close * [Companies](/tag/companies/) ## Companies Update your preferences in [Account Settings](/account/preferences/) Close # OceanGate Suspends Operations After Loss of Titan Submersible by [Brandon Sapienza / Bloomberg](/author/bloomberg/) ## Brandon Sapienza / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Jul 6, 2023 6:53 PM CUT  A decal on a piece of equipment which reads "Titan" is pictured near a trailer with the OceanGate logo at OceanGate Expedition's headqurters in the Port of Everett Boat Yard in Everett, Washington, on June 22, 2023\. All five people aboard a submersible missing near the wreck of the Titanic died -- likely in an instant -- after their vessel suffered what the US Coast Guard said June 22, 2023 was a "catastrophic implosion" in the ocean depths. A decal on a piece of equipment which reads "Titan" is pictured near a trailer with the OceanGate logo at OceanGate Expedition's headqurters in the Port of Everett Boat Yard in Everett, Washington, on June 22, 2023\. All five people aboard a submersible missing near the wreck of the Titanic died -- likely in an instant -- after their vessel suffered what the US Coast Guard said June 22, 2023 was a "catastrophic implosion" in the ocean depths.Ason Redmond—AFP/Getty Images by [Brandon Sapienza / Bloomberg](/author/bloomberg/) ## Brandon Sapienza / Bloomberg Update your preferences in [Account Settings](/account/preferences/) Close Jul 6, 2023 6:53 PM CUT OceanGate said it has halted all exploration and business operations, just a few weeks after five people were killed in a company-owned submersible on an expedition to see the wreck of the Titanic. A banner on the company’s [website](https://oceangateexpeditions.com/blog/ "undefined") announcing the news offered no further details. Read More: [_The Titan Sub and the Dangers of Unregulated Deep-Sea Tourism_](https://time.com/6289279/titanic-tourism-sub-deep-sea-regulation/ "undefined") Last month, a multinational search effort took place after OceanGate’s Titan submersible went missing near the Titanic’s resting place in the North Atlantic Ocean. The US Coast Guard announced days later it had found the submersible, saying it suffered a “[catastrophic implosion](https://time.com/6288253/titanic-tourist-missing/ "undefined").” OceanGate did not immediately respond to a request for comment by phone. ```json [{"@context":"https://schema.org","@type":"NewsArticle","@id":"https://time.com/6292632/oceangate-suspends-operations-after-titan-loss/","mainEntityOfPage":{"@type":"WebPage","@id":"https://time.com/6292632/oceangate-suspends-operations-after-titan-loss/"},"headline":"OceanGate Suspends Operations After Loss of Titan Submersible","datePublished":"2023-07-06T18:53:01.000Z","dateModified":"2026-02-24T16:07:12.037Z","description":"OceanGate said it has halted all exploration and business operations following the fatal Titan accident.","url":"https://time.com/6292632/oceangate-suspends-operations-after-titan-loss/","keywords":["Companies","wire","bloomberg wire"],"thumbnailUrl":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9ea32f73956a232c/698a3e7122fb85fc5ae2ed3a/oceangate-suspends-operations-after-titan-loss.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","author":[{"@type":"Person","name":"Brandon Sapienza / Bloomberg"}],"articleSection":"Business","image":[{"@type":"ImageObject","url":"https://static.time.com/v3/assets/bltea6093859af6183b/blt9ea32f73956a232c/698a3e7122fb85fc5ae2ed3a/oceangate-suspends-operations-after-titan-loss.jpg?branch=production&width=1200&quality=75&auto=webp&crop=1200:675&height=675","width":1200,"height":675,"headline":"OceanGate Suspends Operations After Loss of Titan Submersible","caption":"oceangate-suspends-operations-after-titan-loss","creditText":"Ason Redmond—AFP/Getty Images","representativeOfPage":true}],"publisher":{"@type":"Organization","name":"Time","url":"https://time.com/","logo":{"@type":"ImageObject","url":"https://time.com/images/logo.png","width":528,"height":156},"foundingDate":"March 3, 1923","sameAs":["https://www.facebook.com/time","https://www.instagram.com/time/?hl=en","https://twitter.com/time","https://www.pinterest.com/timemagazine"]}},{"@context":"https://schema.org","@type":"BreadcrumbList","itemListElement":[{"@type":"ListItem","position":1,"item":{"@id":"/section/business/","name":"Business"}},{"@type":"ListItem","position":2,"item":{"@id":"/tag/companies/","name":"Companies"}},{"@type":"ListItem","position":3,"item":{"@id":"https://time.com/6292632/oceangate-suspends-operations-after-titan-loss/","name":"OceanGate Suspends Operations After Loss of Titan Submersible"}}]}] ```