Reports have indicated that all five people on board the missing Titan sub have died.

According to Sky News, the company that operates the submersible issued the following 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.”

“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.”

In a news conference a little while 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.”