In an update on the Titan sub passengers, OceanGate declared some tragic news. All five passengers traveling on missing Titanic-bound submersible “have sadly been lost,” OceanGate said in 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 statement began. “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.”

“This is an extremely sad time for our dedicated employees who are exhausted and grieving deeply over this loss,” they continued. “The entire OceanGate family is deeply grateful for the countless men and women from multiple organizations of the international community who expedited wide-ranging resources and have worked so very hard on this mission.”

“We respectfully ask that the privacy of these families be respected during this most painful time.”

Earlier in the day, the U.S. Coast Guard announced the discovery of debris on the ocean floor near the sunken Titanic. It was later confirmed to be pieces of the Titan sub. However, this situation was always a race against time. When the company lost contact with the submersible, it was more than halfway into its dive to the Titanic. The submersible, if unbroken, was believed to be equipped with only 96 hours worth of oxygen.