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A bright spot in the report was Oceaneering International's (OII) free cash flow, which turned positive through the first half of 2019. Oceaneering (OII) Dips on Wider Q2 Loss, Subdued Outlook ...
Oceaneering was founded in 1964 with the incorporation of World Wide Divers, Inc., one of three companies who merged in 1969 to operate under the name Oceaneering International, Inc. The merged companies were World Wide Divers, Inc. (Morgan City, LA), California Divers, Inc. (Santa Barbara, CA), and Can-Dive Services Ltd (North Vancouver, BC).
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The new subsidiary contained all of Oceaneering's non-oilfield businesses including US Navy search and recovery, Space Systems, Environmental Services, Marine Construction and Ocean Cable Operations. Mullen led Oceaneering Technologies for over five years, diversifying its business base and growing revenues.
A JIM suit used by NOAA is recovered from the water. The JIM suit is an atmospheric diving suit (ADS), which is designed to maintain an interior pressure of one atmosphere despite exterior pressures, eliminating the majority of physiological dangers associated with deep diving.
On 18 June 2023, Titan, a submersible operated by the American tourism and expeditions company OceanGate, imploded during an expedition to view the wreck of the Titanic in the North Atlantic Ocean off the coast of Newfoundland, Canada.