OceanGate Expeditions have shut down operations only two weeks after the Titan submersible imploded during a voyage to the Titanic wreckage.
The implosion resulted in the deaths of five people including chief executive of OceanGate Stockton Rush.
The company announced on their website that they have “suspended all exploration and commercial operations”.
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The decision comes as the company receives widespread criticism and a number of investigations over safety warnings and a lack of certification prior to the Titan’s doomed decent to the Titanic wreckage.
The vessel went missing on June 18, around one hour and 45 minutes into the vessel’s decent when the Titan lost contact.
A massive search was established for four days following the disappearance of the submersible, before debris identified as belonging to the Titan was found on the ocean floor.
Experts determined that the pressure from the ocean caused a massive implosion within the vessel, instantly killing all of the people onboard.
Onboard the vessel at the time were OceanGate chief executive Stockton Rush, British billionaire Hamish Harding, French maritime expert Paul-Henri Nargeolet, British-Pakistani businessman Shahzada Dawood and his son Suleman.