The missing tourist submersible with five people onboard including British billionaire Hamish Harding is believed to have been above its destination when communication was lost.
OceanGate Expeditions, which owns and operates the vessel, was taking five people, including company CEO Stockton Rush, French submersible pilot Paul-Henry Nargeolet and Harding, to the wreckage of the Titanic.
The trip, which is thought to cost £195,000 per head, launched at 4am on Sunday, but communications disappeared one hour and 45 minutes into the two-hour descent to the Titanic wreck site - which sits about 3,800m (12,500ft) below sea level at the bottom of the ocean around 370 miles off the coast of Newfoundland but in US waters.