• The pilot of a Royal Canadian Air Force maritime surveillance aircraft flies over the Atlantic during the search for the missing OceanGate submersible. Reuters
    The pilot of a Royal Canadian Air Force maritime surveillance aircraft flies over the Atlantic during the search for the missing OceanGate submersible. Reuters
  • A Royal Canadian Air Force serviceman drops sonar buoys from a surveillance aircraft. Reuters
    A Royal Canadian Air Force serviceman drops sonar buoys from a surveillance aircraft. Reuters
  • Capt Jamie Frederick of the US coastguard speaks to reporters about the search for the submersible, during a press conference in Boston, Massachusetts. AFP
    Capt Jamie Frederick of the US coastguard speaks to reporters about the search for the submersible, during a press conference in Boston, Massachusetts. AFP
  • Carl Hartsfield, director and senior programme manager Oceanographic Systems Laboratory, faces reporters as Royal Navy Lt Cdr Rich Kantharia, left, and Capt Frederick look on during the news conference. AP
    Carl Hartsfield, director and senior programme manager Oceanographic Systems Laboratory, faces reporters as Royal Navy Lt Cdr Rich Kantharia, left, and Capt Frederick look on during the news conference. AP
  • Inside the submersible vessel Titan on a previous dive. The vessel is used to visit the wreckage site of the Titanic. PA
    Inside the submersible vessel Titan on a previous dive. The vessel is used to visit the wreckage site of the Titanic. PA
  • Titan went missing on a dive to the Titanic wreck site this week. PA
    Titan went missing on a dive to the Titanic wreck site this week. PA
  • Businessman Shahzada Dawood, the vice-chairman of Karachi conglomerate Engro, and his son Suleman are on board the missing sub. AFP
    Businessman Shahzada Dawood, the vice-chairman of Karachi conglomerate Engro, and his son Suleman are on board the missing sub. AFP
  • Paul-Henri Nargeolet, French explorer and director of a company that owns the rights to the Titanic wreck, is on board the submarine. Reuters
    Paul-Henri Nargeolet, French explorer and director of a company that owns the rights to the Titanic wreck, is on board the submarine. Reuters
  • The Titan submersible was taking five people to view the wreck of the Titanic when it went missing. AP
    The Titan submersible was taking five people to view the wreck of the Titanic when it went missing. AP
  • UAE-based British space explorer Hamish Harding posted this image of himself in Canada a day before the expedition. Photo: Instagram
    UAE-based British space explorer Hamish Harding posted this image of himself in Canada a day before the expedition. Photo: Instagram
  • Mr Harding, a businessman, receives his Blue Origin astronaut pin after a successful flight to space in June 2022. AP
    Mr Harding, a businessman, receives his Blue Origin astronaut pin after a successful flight to space in June 2022. AP
  • The submersible usually carries a pilot, three paying guests and a 'content expert'. It has enough oxygen for up to 96 hours. AP
    The submersible usually carries a pilot, three paying guests and a 'content expert'. It has enough oxygen for up to 96 hours. AP
  • The Titanic sank on April 15, 1912, during its maiden voyage from Southampton to New York, killing more than 1,500 of the 2,200 passengers on board. Getty
    The Titanic sank on April 15, 1912, during its maiden voyage from Southampton to New York, killing more than 1,500 of the 2,200 passengers on board. Getty
  • The wreck, which was located in 1985, sits 3,800 metres at the bottom of the Atlantic, about 600km off Newfoundland. AFP
    The wreck, which was located in 1985, sits 3,800 metres at the bottom of the Atlantic, about 600km off Newfoundland. AFP

Missing Titanic submarine has dwindling air supply


Willy Lowry
  • English
  • Arabic

International teams of rescuers led by the US Coast Guard were scouring a vast patch of the remote North Atlantic for a third day on Tuesday, racing against time to find a missing submersible before its air supply ran out.

Follow the latest news on the missing Titanic sub here

The US Coast Guard and its Canadian counterpart said the submersible that went missing on Sunday as it was descending to view the wreck of the RMS Titanic had about 40 hours of air left.

Authorities are scouring a 20,000-square-kilometre area as they search for the Titan, a submersible craft that was carrying four wealthy tourists and a pilot when it disappeared on Sunday.

Capt Jamie Frederick of the US Coast Guard gave a brief update on Tuesday in Boston, saying the submersible had about 40 hours of air left, meaning it would run out by early on Thursday morning.

“This is a very complex search and the unified team is working round the clock to bring all available assets and expertise to bear as quickly as possible in an effort to solve this very complex problem,” Capt Frederick said.

The Titanic site is about 1,450km east of Cape Cod and 644km south of St John's, Newfoundland.

US and Canadian aircraft have searched an area larger than the state of Connecticut, Capt Frederick said. New York Air National Guard has also sent members the help the search.

France has sent a research vessel with an underwater robot that could potentially reach the site of the sunken submersible.

The Canadian military has dropped sonar buoys to listen for any sounds that might be coming from the Titan and a commercial vessel with an unmanned vehicle capable of deep dives was also searching near the site, Capt Frederick said, but search efforts have come up empty so far.

Those aboard the submersible, the highlight of a tourist expedition that costs $250,000 per person, included British billionaire Hamish Harding, 58, who lives in Dubai, and Pakistani-born businessman Shahzada Dawood, 48, with his 19-year-old son Suleman, who are both British citizens.

The 77-year-old French explorer Paul-Henri Nargeolet and Stockton Rush, founder and chief executive of the vessel's US-based operating company OceanGate Expeditions, were also reported to be on board. Authorities have not confirmed the identity of any passenger.

A retired US Coast Guard captain has described the difficulties search and rescue crews face.

I can guarantee that they are scouring the globe for assets that are capable of even operating at the depths where the Titanic is,” Andrew Norris, who retired in 2016 after 26 years of active duty, told The National.

The biggest challenge is that even if Titan is located on the ocean floor, there are no vessels in existence that can transfer the passengers, so any sort of sub-to-sub rescue is impossible.

The wreck of the Titanic, which sank on its maiden voyage in 1912, lies at a depth of 3,800 metres, where it is pitch black and water pressure is nearly 400 times greater than at the surface.

He said the only hope for the tourist submersible is if the pilot is somehow able to untangle the vessel from whatever might be pinning it underwater – if that is what is happening.

“That's all that strikes me as a realistic chance. It's a very, very, very, very slim chance. But to me, that's the only one that's even feasible,” he said.

The Titanic wreck is located roughly 700km off the coast of Newfoundland, Canada.

The US Coast Guard is likely to conduct an aerial search of the area as well as use underwater sonar to search for the missing vessel.

“If it's on the surface the procedures are well known and well honed,” said Mr Norris. “If it's not, then you're left with an underwater search and that's completely sort of out of the coastguard's wheelhouse.”

The lowdown

Rating: 4/5

Company Profile

Company name: Fine Diner

Started: March, 2020

Co-founders: Sami Elayan, Saed Elayan and Zaid Azzouka

Based: Dubai

Industry: Technology and food delivery

Initial investment: Dh75,000

Investor: Dtec Startupbootcamp

Future plan: Looking to raise $400,000

Total sales: Over 1,000 deliveries in three months

Cryopreservation: A timeline
  1. Keyhole surgery under general anaesthetic
  2. Ovarian tissue surgically removed
  3. Tissue processed in a high-tech facility
  4. Tissue re-implanted at a time of the patient’s choosing
  5. Full hormone production regained within 4-6 months
Panipat

Director Ashutosh Gowariker

Produced Ashutosh Gowariker, Rohit Shelatkar, Reliance Entertainment

Cast Arjun Kapoor, Sanjay Dutt, Kriti Sanon, Mohnish Behl, Padmini Kolhapure, Zeenat Aman

Rating 3 /stars

21 Lessons for the 21st Century

Yuval Noah Harari, Jonathan Cape
 

Ten tax points to be aware of in 2026

1. Domestic VAT refund amendments: request your refund within five years

If a business does not apply for the refund on time, they lose their credit.

2. E-invoicing in the UAE

Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption. 

3. More tax audits

Tax authorities are increasingly using data already available across multiple filings to identify audit risks. 

4. More beneficial VAT and excise tax penalty regime

Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.

5. Greater emphasis on statutory audit

There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.

6. Further transfer pricing enforcement

Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes. 

7. Limited time periods for audits

Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion. 

8. Pillar 2 implementation 

Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.

9. Reduced compliance obligations for imported goods and services

Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations. 

10. Substance and CbC reporting focus

Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity. 

Contributed by Thomas Vanhee and Hend Rashwan, Aurifer

Updated: June 22, 2023, 7:36 AM