BREAKING: Five Men Onboard Missing Titan Sub Dead- OceanGate

All five onboard the missing Titan sub are believed to have died, the company that operates the submersible 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,” the company said in a statement on Thursday.

The confirmation comes a few hours after a “debris field” was discovered by an underwater robot searching near the wreck of the Titanic for the missing submersible.

The development came after rescuers insisted that the multinational mission to locate the craft was still focused on finding the crew alive despite fears that the vessel’s oxygen may have run out.

“Experts within the unified command are evaluating the information,” the US Coast Guard said in a tweet.

The coast guard said the debris field was found “within the search area by an ROV (Remotely Operated Vehicle) near the Titanic.”

It did not give more details but said it would hold a press briefing in Boston later on Thursday.

In a news conference minutes later, Rear Admiral John Mauger – who is leading the search – confirmed that a remotely operated vehicle had discovered the tail cone of the missing sub, approximately 1,600ft from the bow of the Titanic on the seafloor.

Additional debris was found nearby, with Mr 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.”

“This is an incredibly complex operating environment on the seafloor, over two miles beneath the surface. The remote operating vehicle has been searching, and it s highly capable, and we’ve been able to classify parts of the pressure chamber for the Titan submersible.”

When asked about the prospects for recovering crew members, Mr Mauger warned “it is an incredibly unforgiving environment on the seafloor” – and the debris is consistent with a “catastrophic implosion” of the vessel.

“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.

An expert later added that no debris from the Titanic is based in the area.