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

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The U.S. Coast Guard launched a rescue operation on Monday after a submersible tourist vessel went missing while on its way to the wreck of the Titanic in the Atlantic Ocean. The Titan, operated by the luxury travel company OceanGate Expeditions, disappeared 900 miles off the coast of Cape Cod, Mass., just one hour and 45 minutes into the dive.

The Coast Guard’s Rear Admiral 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 EST.

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,"What exactly was this trip supposed to entail? During the expedition, the Titan, which can hold up to five people, including three paying passengers, dives 13,000 feet to reach the wreck of the RMS Titanic which, despite being advertised as “unsinkable,” sank after hitting an iceberg during its maiden voyage in 1912, killing more than 1,500 people. The ship’s wreckage was discovered in 1985 around 350 miles off the coast of Newfoundland, Canada.A seat on OceanGate’s eight-day voyage to the Titanic costs $250,000.

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