Behind the submarine tourism industry, where people pay $250,000 to visit the Titanic

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A seat on OceanGate’s voyage to the Titanic costs $250,000. Aimed at the super-rich, such trips promise wealthy explorers an unforgettable experience. “We've had people who have mortgaged their home to come and do the trip,” the company’s CEO said.

Coast Guard Rear Adm. John Maugar told reporters that the vessel was designed with a 96-hour sustainment capability in case of an emergency onboard. “We’re using that time and the best use of every moment of that time to locate the vessel,” Maugar said. It is expected the oxygen will last until Thursday midday local time.

OceanGate Expeditions released a statement on Monday saying they were “exploring and mobilizing all options” to bring the crew home safely. “We are working toward the safe return of the crewmembers,”The incident has drawn new awareness to the exclusive submarine tourism industry.

A search-and-rescue operation is underway by the U.S. Coast Guard in Boston after a tourist submarine bound for the Titanic's wreckage site went missing off the southeastern coast of Canada. OceanGate describes its vessels as “experimental,” making clear to potential customers that they have not been “approved or certified by any regulatory body.

 

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