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For those checking in on the latest updates now, here's what we know:

The five people aboard the Titan sub have died in a catastrophic implosion of the vessel, the US Coast Guard has confirmed.

A debris field was found overnight at the bottom of the ocean near the Titanic, consistent with a loss of the missing sub's pressure chamber.

David Mearns, who specialises in deep water search and recovery operations, warned they don’t use phrases like “debris field” unless there’s no chance of a recovery of the men alive.

Speaking to Sky News, Mearns said "a debris field implies a break-up of the submersible … that really sort of indicates the worse case scenario, which is a catastrophic failure, generally that’s an implosion."

“The only saving grace about that is that it would have been immediate, literally in milliseconds, and the men would have had no idea what was happening.”

A US Navy acoustic system, used to detect enemy submarines, detected an "anomaly" on Sunday that was likely the Titan’s fatal implosion, according to a senior military official.

The Navy went back and analysed its acoustic data after the Titan submersible was reported missing Sunday. 

That anomaly was “consistent with an implosion or explosion in the general vicinity of where the Titan submersible was operating when communications were lost,” according to the senior Navy official.

The official spoke on condition of anonymity to discuss a sensitive acoustic detection system.

The Navy passed on the information to the Coast Guard, which continued its search.

The Wall Street Journal on Thursday first reported the Navy’s involvement.

The five men who perished aboard the sub have all been identified. Among them was a 19-year-old who went on the journey with his dad, who was reportedly obsessed with the Titanic.

Suleman Dawood, the 19-year-old passenger who died aboard the Titan sub, was "terrified" ahead of his trip with his dad to the Titanic wreck, according to his aunt. 

Speaking to the NBC, Azmeh Dawood, the older sister of Pakistani billionaire Shahzada Dawood, said 19-year-old Suleman "wasn't very up for it".

“I am thinking of Suleman, who is 19, in there, just perhaps gasping for breath ... It’s been crippling, to be honest,” she said.

“I feel like I’ve been caught in a really bad film, with a countdown, but you didn’t know what you’re counting down to… I personally have found it kind of difficult to breathe thinking of them.”

Azmeh Dawood said her brother, who also died in the implosion, was "absolutely obsessed" with the Titanic from an early age.  “He was my baby brother… I held him up when he was born," she also said.

Due to the nature of the event, the bodies of the five men may never be recovered.

'You’re remembered for the rules you break' - Stockton Rush

An old, undated video is circulating online showing OceanGate CEO Stockton Rush admitting he "broke some rules" to create the submarine.

“I’d like to be remembered as an innovator. I think it was general McArthur that said, ‘You’re remembered for the rules you break.’ I have broken some rules to make this. I think I’ve broken them with logic and good engineering behind me. The carbon fibre and titanium there is a rule that you don’t do that. Well, I did,” Stockton said in the footage being shared online.

David Mearns, who specialises in deep water search and recovery operations, warned they don’t use phrases like “debris field” unless there’s no chance of a recovery of the men alive.

Speaking to Sky News, Mearns said "a debris field implies a break-up of the submersible … that really sort of indicates the worse case scenario, which is a catastrophic failure, generally that’s an implosion."

“The only saving grace about that is that it would have been immediate, literally in milliseconds, and the men would have had no idea what was happening.”

Shahzada Dawood’s company paid tribute to him and his son, Suleman, after it was confirmed they both died aboard the Titan sub.

“With heavy hearts and great sadness, we grieve the loss of our vice chairman, Shahzada Dawood, and his beloved son, Suleman Dawood," a statement from Engro Corporation read.

“Our thoughts and prayers are with the Dawood family at this tragic time.

“We extend our heartfelt condolences to the family, colleagues, friends and all those around the world who grieve this unthinkable loss.”

A U.S. Navy acoustic system detected an ‘anomaly’ Sunday that was likely the Titan’s fatal implosion, according to a senior military official.

The Navy went back and analysed its acoustic data after the Titan submersible was reported missing Sunday. Coast Guard officials on Thursday announced that the craft suffered a catastrophic implosion, killing all five aboard.

That anomaly was “consistent with an implosion or explosion in the general vicinity of where the TITAN submersible was operating when communications were lost,” according to the senior Navy official.

The official spoke on condition of anonymity to discuss a sensitive acoustic detection system.

The Navy passed on the information to the Coast Guard, which continued its search.

The Wall Street Journal on Thursday first reported the Navy’s involvement.

- AP

A renowned Titanic expert, a world record-holding adventurer, two members of one of Pakistan’s wealthiest families and the CEO of the company leading an expedition to the world’s most famous shipwreck were killed aboard the Titan submersible when it imploded in the Atlantic Ocean sometime this week.

Here's what we know about each of the victims.

The family of British billionaire Hamish Harding have released a statement described him as “one of a kind” after it was confirmed that he was one of the five people dead aboard the Titan sub.

"Today we are united in grief with the other families who have also lost their loved ones," the family said in a statement released by Harding’s company Action Aviation.

“Hamish Harding was a loving husband to his wife and a dedicated father to his two sons, whom he loved deeply. To his team in Action Aviation, he was a guide, an inspiration, a support, and a living legend.

“He was one of a kind and we adored him. He was a passionate explorer - whatever the terrain - who lived his life for his family, his business and for the next adventure. What he achieved in his lifetime was truly remarkable and if we can take any small consolation from this tragedy, it’s that we lost him doing what he loved.

“He will leave a gap in our lives that can never be filled. We know that Hamish would have been immensely proud to see how nations, experts, industry colleagues and friends came together for the search and we extend our heartfelt thanks for all their efforts.”

Suleman Dawood, the 19-year-old passenger who died aboard the Titan sub, was "terrified" ahead of his trip with his dad to the Titanic wreck, according to his aunt. 

Speaking to the NBC, Azmeh Dawood, the older sister of Pakistani billionaire Shahzada Dawood, said 19-year-old Suleman "wasn't very up for it".

“I am thinking of Suleman, who is 19, in there, just perhaps gasping for breath ... It’s been crippling, to be honest,” she said.

“I feel like I’ve been caught in a really bad film, with a countdown, but you didn’t know what you’re counting down to… I personally have found it kind of difficult to breathe thinking of them.”

Azmeh Dawood said her brother, who also died in the implosion, was "absolutely obsessed" with the Titanic from an early age.  “He was my baby brother… I held him up when he was born," she also said.