OceanGate Is Selling One Of Its Submarines

One of OceanGate’s two remaining submersibles, this one built in 1973, is looking for a new owner. 

The Antipodes has been listed for sale for the past five years with no success, according to Steve Reoch, an expedition-yacht broker. The 13.5-foot sub built by Perry Submersibles was purchased by OceanGate’s CEO, Stockton Rush, as the company’s first submersible. Rush was the most recent of its many owners.

Priced at $795,000, Reoch believes there won’t be a buyer, and he wants to distance himself from the vessel. It’s based in OceanGate’s headquarters in Everett, Washington, and is touted as capable of deep-water expeditions, reaching depths of 1,000 feet in the ocean, and accommodating a pilot and up to four crew members comfortably. 

Reoch claims that the submersible had a successful track record, with numerous dives, including a shark-spotting expedition with rapper Macklemore on board. Notably, unlike the ill-fated Titan, the Antipodes was classed by the American Bureau of Shipping, indicating that it met industry standards.

Reoch was asked by Rush to sell the Antipodes when the company’s second submersible, the Cyclops, was constructed. Despite OceanGate continuing to use the vessel for expeditions while it was on the market, Reoch has struggled to find legitimate buyers over the years. He anticipates that the submersible will be tied up in litigation for an extended period as OceanGate has ceased all exploration and commercial operations.

Reoch plans to remove the listing soon and wants to dissociate himself from the submersible due to the impending legal issues. He believes that potential buyers are uninterested in the vessel, especially given its association with OceanGate. 

He told Business Insider, which first reported on the matter, that selling the submersible would be a waste of time and has been for the past five years.


Information for this story was found via Business Insider, and the sources and companies mentioned. The author has no securities or affiliations related to the organizations discussed. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Baselode Energy To Acquire Forum Energy: The Merger Of Equals Deal

TriStar Gold: The Revised Castelo de Sonhos Prefeasibility Study

Gold is Up 30%, But the Real Bull Market is Only Starting Now! | Adrian Day

Recommended

ESGold To Expand Mine Building At Montauban In Advance Of Gold & Silver Production

Goliath Resources Expands 2025 Drill Program To 60,000 Metres

Related News

MrBeast Claims He Rejected An Offer To Join A Titan Expedition

YouTube giant MrBeast has been getting some flak on Twitter for claiming that he declined...

Tuesday, June 27, 2023, 02:18:00 PM

The Titan Submersible’s Ill-fated Voyage: A Modern Titanic Tragedy?

In the murky depths of the Atlantic, a modern-day troupe of explorers embarked on a...

Wednesday, June 21, 2023, 01:49:12 PM

OceanGate Still Offers Dives To Titanic After Fatal Submersible Tragedy

Update: OceanGate’s website is currently inaccessible as of this writing. OceanGate Expeditions is under fire...

Thursday, June 29, 2023, 01:34:00 PM

OceanGate Suspends All Operations After Submersible Implosion

OceanGate, the company that owned the Titan submersible which tragically imploded on a mission to...

Thursday, July 6, 2023, 05:14:24 PM

Boeing Engineers Warned OceanGate About Submarine Design Flaws Before Implosion

Documents and expert testimonies have allegedly surfaced revealing significant concerns raised by engineers involved in...

Wednesday, June 12, 2024, 12:31:00 PM