The company that owned the Titan submersible that imploded on its way to explore the wreck of the Titanic, killing all five onboard, has suspended operations.

Investigators believe the Titan imploded as it made its descent into deep North Atlantic waters on June 18th.

Among those killed was Stockton Rush, the submersible’s pilot and chief executive officer of the company, OceanGate.

The U.S. Coast Guard has convened a Marine Board of Investigation, its highest level of investigation, into the implosion, and plans to hold a public hearing in the future.

The statement on OceanGate’s website says the Everett, Washington-based company “has suspended all exploration and commercial operations,” but doesn’t elaborate.