A lengthy report released by the US Coast Guard Tuesday identified glaring issues with the Titan submersible and the company that ran it, a little more than two years after five people were killed when the deep-sea craft imploded on its way to the Titanic wreckage.

Coast Guard investigators say the event was "a preventable tragedy," with OceanGate's failure to follow safety and testing protocols being the main reason the sub imploded.

Multiple contributing factors — including OceanGate’s toxic workplace environment and profit-over-safety ethos — led to the entirely "preventable" implosion of a submersible that killed five people off Newfoundland two years ago, Coast Guard investigators said Tuesday.