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UPDATE: Debris of missing submersible found near Titanic wreck, all passengers presumed dead

BREAKING: The Coast Guard has announced tragic update in the missing Titanic submersible case... rest in peace.

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The case of the missing OceanGate Titan which caught the attention of the entire world ended with a tragedy as all of the passengers are presumed dead after it was revealed that the submersible they were in imploded.

Shortly after authorities reported that they had identified debris field near the Titanic, the owner and operator of the hired submersible that had been missing since Sunday, announced Thursday afternoon that the five passengers aboard had died.

“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,” the company said in a statement. “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.”

BOSTON, MASSACHUSETTS – JUNE 21: Capt. Jamie Frederick of the U.S. Coast Guard, joined by others from the U.S. Navy, Royal Navy and Woods Hole Oceanographic Institute, gives an update on the search efforts for five people aboard a missing submersible approximately 900 miles off Cape Cod, on June 21, 2023 in Boston, Massachusetts. The Coast Guard is racing to find a submersible with five passengers that went missing during a dive to the wreck of the Titanic. (Photo by Scott Eisen/Getty Images)

It is assumed that the death of the five passengers was immediate following the failure of the pressure chamber in the submersible.

The passengers were British businessman Hamish Harding, OceanGate CEO Stockton Rush, French explorer Paul-Henry Nargeolet, Pakistani businessman Shahzada Dawood and his teenage son Sulaiman.

The Titan‘s tail cone, which was found approximately 1,600 feet from the Titanic’s bow, was discovered by a remotely operated vehicle from Horizon Arctic, as reported by Rear Admiral John Mauger.

NEW YORK, NY – JANUARY 05: Premier Exhibitions, Inc Director of Underwater Research, P.H. Nargeolet speaks at the Titanic Auction preview at the Intrepid Sea-Air-Space Museum on January 5, 2012 in New York City. (Photo by Mike Coppola/Getty Images)

“These men were true explorers who shared a distinct spirit of adventure, and a deep passion for exploring and protecting the world’s oceans,” their statement reads, according to BBC. “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.

“This is an extremely sad time for our dedicated employees who are exhausted and grieving deeply over this loss. The entire OceanGate family is deeply grateful for the countless men and women from multiple organizations of the international community who expedited wide-ranging resources and have worked so very hard on this mission.”

(Photo by Ocean Gate / Handout/Anadolu Agency via Getty Images)

The passengers paid around $250,000 each for what was supposed to be an eight-day expedition to the wreck of the RMS Titanic. The circumstances of its disappearance are still unclear.

For the victims’ families, the fight may not be over as they would probably sue OceanGate and others involved in the construction of the lost craft.