OceanGate Expeditions shuts down operations after submersible implosion killed five on Titanic expedition

OceanGate Expeditions, the company responsible for the tragic journey of the Titan submersible to the Titanic wreckage in recent months, has terminated its activities. Tragically, the submersible, constructed from carbon-fibre, succumbed to the immense pressures of the deep ocean, resulting in a catastrophic implosion that claimed the lives of five individuals, including the CEO of the company, Stockton Rush.

Paul-Henri Nargeolet, a French deep-sea explorer and Titanic historian; British billionaire businessman Hamish Harding; Pakistani-British billionaire businessman Shahzada Dawood and his 19-year-old son Suleman, lost their lives alongside Rush in the submarine.

WATCH: Old video showing Titanic submersible spinning out of control on mission goes viral

A small message in the top-left corner of OceanGate's website in red explains that the company has ceased its operations. In a comment to a news organisation, it said, "OceanGate has suspended all exploration and commercial operations."

Before shutting down, OceanGate provided its clients with an opportunity to participate in a selection of expeditions. One such expedition was the ill-fated journey to explore the Titanic, which carried a hefty price tag of at least $250,000 (£196,000) for interested individuals.

The second was an excursion to the Azores to explore thermal vents. The price was the same although the trip lasted for half as long as its Titanic-focused counterpart.

Following the catastrophic research expedition, OceanGate has faced intense public scrutiny, primarily centered around Stockton Rush's approach to safety and innovation. The company's actions and practices have drawn significant attention and criticism from the public.

Pictured: Final moments of Shahzada Dawood, Suleman before boarding doomed Titanic submersible

David Lochridge, a former OceanGate employee, was reportedly fired shortly after he insisted the Titan submersible required more, unmanned testing before it could be considered safe for commercial expeditions.

After his firing, Mr Lochridge reportedly emailed his associate at the company Rob McCallum – who also left over safety concerns – to share his worry that Rush would get himself and others killed in a quest to satiate his "ego".

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