The debris discovered earlier today is understood to belong to the missing Titan submersible, with the pilot and four passengers onboard the vessel believed to be dead.
OceanGate Expeditions, the company behind the voyage, confirmed that the Titan submersible's pilot and chief executive Stockton Rush – along with UK citizens Hamish Harding, Shahzada Dawood and his 19-year-old son Suleman Dawood and French national Paul-Henri Nargeolet "have sadly been lost."
The tragic update comes just hours after the US Coast Guard confirmed the discovery of a 'debris field' near the wreckage of the Titanic following the deployment of a multi-national search operation.
READ MORE - 'Debris field' found in search for Titan submersible as US Coast Guard issues update
The US Coast Guard offered its "deepest condolences" to the families after the tail cone of the submersible was found around 1,600ft from the bow of the Titanic shipwreck.
In a press conference, Rear Admiral John Mauger said further debris was "consistent with a catastrophic loss of the pressure chamber".
In a statement, OceanGate Expeditions said: "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."
At the press conference in Boston, Rear Admiral Mauger said: "This morning, an ROV, or remote operated vehicle from the vessel Horizon Arctic discovered the tail cone of the Titan submersible approximately 1,600ft from the bow of the Titanic on the sea floor.
"The ROV subsequently found additional debris. In consultation with experts from within the unified command, the debris is consistent with the catastrophic loss of the pressure chamber.
"Upon this determination, we immediately notified the families.
"On behalf of the United States Coast Guard and the entire unified command, I offer my deepest condolences to the families. I can only imagine what this has been like for them.
"And I hope that this discovery provides some solace during this difficult time."
Asked what the prospects of recovering crew members were, Rear Admiral Mauger said: "This is an incredibly unforgiving environment down there on the sea floor and the debris is consistent with a catastrophic implosion of the vessel.
"And so 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."
