It remains unknown whether there were any people on board the submarine, the report said.
Meanwhile, OceanGate Expeditions, a US firm deploying submersibles for deep sea expeditions, said in a statement on Monday that it is trying to re-establish contact with one of its vessels that went missing during an expedition to the wreckage site of the Titanic.
"Our entire focus is on the crewmembers in the submersible and their families," OceanGate said in a statement to a American broadcaster.
The company stressed that it was "deeply thankful for the extensive assistance we have received from several government agencies and deep sea companies in our efforts to reestablish contact with the submersible."
The firm did not reveal in its statement how many people were on board the vessel and whether there were any tourists there.
The Titanic, the largest luxury ship in the beginning of the twentieth century, struck an iceberg during her maiden voyage from Southampton to New York on April 15, 1912, and sunk in the Atlantic. The incident resulted in the death of more than 1,500 passengers and crew.
The Titanic wreck is located about 370 miles off the coast of Newfoundland in Canada at a depth of 2.5 miles.