OceanGate's Titan submersible imploded on its journey to the wreck of the Titanic because of poor engineering and multiple failures to test the vessel, according to an official report. Titan imploded in June 2023, killing all five passengers on board including OceanGate's chief executive.

The US National Transportation Safety Board (NTSB) found the engineering process behind the vehicle was 'inadequate', resulting in faults which meant it failed to meet strength and durability requirements. The NTSB said because the firm did not adequately test Titan it did not know its actual strength. It was also unaware it was damaged and should have been removed from service before its last voyage.

Titan disappeared in the North Atlantic as it attempted to dive to the wreck of Titanic which lies some 372 miles from St. John's in Newfoundland and Labrador in Canada. In August, the US Coast Guard released a damning report into the implosion which found that the incident was 'preventable' and criticized OceanGate's 'critically flawed' safety practices.

The passengers, who paid up to $250,000 each to take part in the dive, were deep-sea explorer Paul-Henri Nargeolet, Shahzada Dawood and his 19-year-old son Suleman Dawood and Hamish Harding. Designed and built by OceanGate, the Titan was 6.7m (22ft) long with a passenger compartment made of carbon fibre, with titanium used in its domes and some other segments.

The doomed submersible, which imploded at a depth of 3,363m (11,033ft), was the second version of the craft. OceanGate had condemned the first version following testing. During its investigation, the NTSB discovered issues with the safety culture at OceanGate.

Some employees claimed safety was a priority, while others highlighted an environment 'where safety issues, particularly design issues, were ignored'. One technician at the firm stated he had concerns about OceanGate's business model, particularly in accepting paying clients as 'mission specialists' rather than passengers.

Under US regulations, it is illegal to transport passengers in an experimental submersible. The technician shared a conversation where Mr. Rush suggested he could simply 'buy himself a congressman' to resolve any potential issues with the Coast Guard.

Since the incident, OceanGate has permanently wound down its operations. In its report, the NTSB found that inadequate US regulations contributed to the implosion and recommended a review into the assessment of pressure vessels that carry people.