Behind the submarine tourism industry, where people pay $250,000 to visit the Titanic
A British billionaire is among the five who are missing in the vessel operated by tourism company OceanGate Expeditions.
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.
Coast Guard Rear Adm. 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 local time.
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,” the statement said.
The incident has drawn new awareness to the exclusive submarine tourism industry.
What are the details of the trip?
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, Can.
What is the cost?
A seat on OceanGate’s eight-day voyage to the Titanic costs $250,000.
Are these kinds of trips popular?
Aimed at the superrich, such trips promise to provide wealthy explorers with an unforgettable experience — something that money can buy. “This is your chance to step outside of everyday life and discover something truly extraordinary,” reads an archived version of OceanGate Expeditions’ website, which is no longer available online.
OceanGate CEO Stockton Rush told CBS News last year that the people booking the trips are typically Titanic enthusiasts or “Titaniacs.”
“We’ve had people who have mortgaged their home to come and do the trip,” Rush said. “And we have people who don't think twice about a trip of this cost. We had one gentleman who had won the lottery."
What are the risks involved?
OceanGate describes its vessels as “experimental,” making clear to potential customers that they have not been “approved or certified by any regulatory body.” Last year, CBS News correspondent David Pogue embarked on one of OceanGate’s expeditions to the Titanic, before which he was required to sign a waiver stating that the trip could “result in physical injury, emotional trauma, or death.”
Pogue reported that during the trip, a vessel became lost for a few hours. “There's no GPS underwater, so the surface ship is supposed to guide the sub to the shipwreck by sending text messages,” Pogue said at the time. “But on this dive, communications somehow broke down.”
Do other companies offer this type of trip?
OceanGate Expeditions is the only travel company that is currently selling expeditions to see the ruins of the Titanic. However, other companies offer much more affordable submarine excursions that venture just below sea level, allowing tourists to visit coral reefs and shallow sea floors.
What other kinds of extravagant excursions are available to the superrich?
In recent years, space tourism has flourished with the backing of billionaires such as Jeff Bezos and Richard Branson. In 2021, both Virgin Galactic, Branson’s company, and Bezos’s Blue Origin took their maiden voyages to Earth’s periphery and beyond, beginning a new era of space travel. Virgin Galactic is set to launch commercial flights by the end of this month, with tickets costing $450,000 per person.
For those who prefer to stay on solid ground, a trip up Mount Everest can cost $40,000 to $160,000.
