On July 6, U.S.-based OceanGate announced it had "suspended all exploration and commercial operations" indefinitely following the tragic implosion of the Titan sub two weeks prior.

The vessel, which was about the size of an SUV car, was reported missing on June 18 during a dive to explore the wreckage of the Titanic, and subsequently imploded at a depth of more than two miles, killing all five people on board.

Those aboard included CEO Stockton Rush, British explorer Hamish Harding, French submarine expert Paul-Henri Nargeolet, and Pakistani-British tycoon Shahzada Dawood and his son Suleman.

It is presumed that the victims died instantly when the Titan succumbed to the pressure of the North Atlantic. The wreckage was located 1,600 feet from the Titanic's bow, which rests 400 miles off the coast of Newfoundland.

The cost of a seat aboard the Titan sub was $250,000, but the tragedy has forced OceanGate to reconsider its safety policies. U.S. Coast Guard and Canadian authorities have launched an investigation into the cause of the implosion, which occurred about an hour and 45 minutes after the sub descended.

The Titanic itself has been an iconic symbol of maritime history since it famously sunk during its maiden voyage in 1912. It was only discovered in 1985, and since then it has been a popular destination for underwater tourists and nautical experts.

The tragedy has inevitably cast a pall over the vessel's legacy, and authorities are working to try and piece together what happened and to ensure that similar incidents never occur again.

OceanGate's suspension of its services is the latest in a series of measures taken in the wake of the tragedy, and it marks a solemn end to a search operation that had captivated the world.