The missing submersible that vanished while touring the wreckage of the Titanic is believed to have been above its destination when communication was cut off.
Five people were onboard the vessel - which is owned and run by OceanGate Expeditions - including company CEO Stockton Rush, French submersible pilot Paul-Henry Nargeolet and British billionaire Hamish Harding,
The sub launched at 4am on Sunday, however communication was lost one hour and 45 minutes into the two-hour descent to the shipwreck, the Mirror reports. Roughly 370 miles off the coast of Newfoundland but in US waters, the site is located around 3,800m (12,500ft) below sea level.
It is understood the last "ping" sent from the submersible to its mothership MV Polar Prince pinpointed them just above the Titanic. A search has since been launched to trace the vessel, named Titan, by the US Coast Guard in Boston. Lieutenant Commander Len Hickey said a Canadian Coast Guard vessel and military aircraft were also assisting with efforts.
OceanGate Expeditions, which runs deep-sea expeditions understood to cost £195,000 per passenger, confirmed in a statement that it owns the missing submersible. The company's managing director Mark Butler said the crew set out on Friday, adding: "Every attempt is being made for a rescue mission.
"There is still plenty of time to facilitate a rescue mission, there is equipment on board for survival in this event. We're all hoping and praying he comes back safe and sound."
Rear Admiral John Mauger, who is leading the rescue mission, said the sub is designed with a 96 hour "emergency capacity" - meaning there should be enough oxygen for those onboard until midday on Thursday. There are concerns that the vessel could have became trapped somewhere in the Titanic as it explored the wreckage.
The expedition is OceanGate's third annual voyage to monitor the deterioration of the iconic ocean liner that sunk in 1912 after hitting an iceberg. Of the 2,200 passengers and crew onboard, only 700 survived.
Since the ship's wreckage was discovered in 1985, its remnants have been slowly succumbing to metal-eating bacteria, with some predicting that vessel could completely disappear in just a matter of decades.
Unlike submarines that leave and return to port under their own power, submersibles require a ship to launch and recover them. OceanGate hired the Canadian vessel Polar Prince, a medium duty icebreaker that was formerly operated by the Canadian Coast Guard, to ferry dozens of people and the submersible craft to the Titanic wreck site.
David Concannon, an advisor to OceanGate Expeditions who was supposed to be on the dive but could not go due to another client matter, said officials are working to get a remotely operated vehicle that can reach a depth of 20,000ft to the site as soon as possible.
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