5 Passengers Aboard ‘Titan’ Submersible Are Dead; OceanGate Says They’ve ‘Sadly Been Lost’

Officials from OceanGate Inc. have officially announced that the five passengers onboard the missing Titanic submersible, Titan, are dead. After a four-day-long search and rescue mission, it is believed that the vessel suffered a "catastrophic implosion."

The announcement comes just hours after the US Coast Guard reported that it had discovered a "debris field" located near the RMS Titanic wreck, believed to have been left behind by the missing submersible, shortly after officials presumed the vessel had run out of oxygen.

More from CafeMom: Missing Titanic Submersible Out of Oxygen: See Inside Vessel

The 'Titan' went missing shortly after its voyage began on Sunday.

According to multiple reports, the Titan tourist submersible went missing an hour and 45 minutes after it embarked on its journey to the site of the RMS Titanic wreck. There were five people onboard: OceanGate CEO Stockton Rush, 61; Hamish Harding, 58; Paul-Henri Nargeolet, 77; Shahzada Dawood, 48; and his son, Sulaiman Dawood, 19.

The debris found near the 'Titanic' wreck led to OceanGate's tragic conclusion.

In a press conference held Thursday afternoon, the US Coast Guard officially confirmed that a remotely operated underwater vehicle found debris from the Titan submersible's tail cone about 1,600 feet from the bow of the Titanic wreck.

Rear Adm. John Mauger of the First Coast Guard District said the debris "is consistent with a catastrophic implosion of the vessel," according to ABC 7 News.

The Coast Guard also asserted that the debris indicated that the vessel had suffered a "catastrophic loss of the pressure chamber," that would have resulted in the deaths of all five passengers.

More from CafeMom: Cardi B Slams Stepson of Missing Billionaire as Search for Titanic Submersible Continues

OceanGate has released a statement.

"We now believe that our CEO Stockton Rush, Shahzada Dawood and his son Suleman Dawood, Hamish Harding, and Paul-Henri Nargeolet, have sadly been lost," OceanGate said in statement issued on Thursday afternoon.

"These men were true explorers who shared a distinct spirit of adventure, and a deep passion for exploring and protecting the world’s oceans. Our hearts are with these five souls and every member of their families during this tragic time. We grieve the loss of life and joy they brought to everyone they knew," the statement continues.

The tragedy has captivated many around the world.

Seemingly the entire world has been captivated by the story of the missing Titan submersible, prompting discussions about safety amid rapid technological advances as well as the sheer wealth of the passengers, who reportedly paid $250,000 each to participate in the expedition.

Many have questioned whether OceanGate was aware there was a possibility of something like this happening, as well as the frivolity of the passengers themselves using their wealth in such a way.

Regardless of the criticisms OceanGate as well as individuals involved my face in the coming weeks or even months, this is a tragedy we won't collectively soon forget.

As of now, OceanGate is asking the public to afford the families of the victims privacy.

"This is a very sad time for the entire explorer community, and for each of the family members of those lost at sea. We respectfully ask that the privacy of these families be respected during this most painful time," the company's statement concludes.