Updated: 20:45
All five men onboard a missing submersible in the Atlantic Ocean are believed to have died after the vessel suffered a "catastrophic implosion."
OceanGate, the company that operates the vessel, said in a statement: "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.
"These men were true explorers who shared a distinct spirit of adventure, and a deep passion for exploring and protecting the world's oceans.
"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."
The submersible Titan departs its launch platform Picture by: OceanGateIn a news conference, US Coast Guard Rear Admiral John Mauger - who is leading the search - confirmed that a remotely operated vehicle had discovered the nose cone of the missing sub, approximately 1,600ft from the bow of the Titanic on the seafloor.
Additional debris was found nearby, with Admiral Mauger adding: "In consultation with experts from within unified command, the debris is consistent with the catastrophic loss of the pressure chamber.
"On behalf of US Coast Guard and entire unified command, I offer deepest condolences to the families. I can only imagine what this has been like for them, and I hope this discovery provides some solace during this difficult time."
While the debris is consistent with a "catastrophic implosion" of the vessel, he stressed that it is too early to know when this happened - and underwater robots remain on scene to gather information.
"We'll continue to work and continue to search the area down there, but I don't have an answer for prospects at this time," he told reporters.
Carl Hartsville, an expert from the Woods Hole Oceanographic Institution, later added that no debris from the Titanic is based in the area.
British businessman Hamish Harding, who is one of those missing, posted this photo on social media the day before the craft disappeared. Picture by: Facebook/Hamish HardingEarlier David Mearns, a rescue expert who knew two of the five men onboard, said: "A debris field implies a break-up of the submersible... that really sort of indicates what is the worst-case scenario, which is a catastrophic failure and generally that's an implosion.
"The only saving grace is that it would have been immediate - literally in milliseconds - and the men wouldn't have known what was happening."
Mr Mearns knew British businessman Hamish Harding and the French submersible pilot Paul-Henri Nargeolet, who were on the voyage.
He said his "worst fears have now been realised" - and he had been praying for a different outcome.
"Two friends of mine are gone," Mr Mearns said.
Titan had disappeared on Sunday in the Atlantic Ocean - 700km south of Newfoundland, Canada - during an expedition dive to see the wreck of the Titanic.
Map showing the location of the wreck of the Titanic. Source: OceanGateWhile there had been speculation in past news conferences that underwater banging noises heard near the site could be linked to Titan, the US Coast Guard said there doesn't appear to be a connection.
The air supply in the vessel was set to run out at 12:08pm Irish time on Thursday.
Also on Thursday, a deep-sea robot called Victor 6000 headed to the search area.
It has remotely controlled arms that can cut cables and perform other manoeuvres to release a stuck vessel, and is able to go deeper than the Titanic itself.
Ships, planes and underwater craft from multiple countries were deployed to the area with rescuers searching a remote part of the Atlantic Ocean - more than twice the size of the US state of Connecticut.
Reporting by: IRN
