The British Titanic Society has said it sincerely hopes and prays for the safe rescue of all those onboard the Titanic tourist submersible which went missing on Sunday.

The sub, named The Titan, lost contact with its surface ship, the Polar Prince, one hour and forty-five minutes into Sunday's dive, around 370 miles from the coast of Newfoundland, Canada.

The mission was to visit the wreckage of HMS Titanic, which famously sank in the Atlantic Ocean during its maiden voyage from Southampton.

It had five people on board which included British businessman Hamish Harding, and the father and son of one of Pakistan’s richest families, Shahzada and Suleman Dawood.

Made from carbon fibre and with a titanium composite hull, the vessel went missing about an hour and 45 minutes into its dive off the Atlantic coast of Newfoundland Island in Canada.

The rescue operation has continued overnight but so far there has been no sign of it.

The incident has resulted in US and Canadian agencies, its naval forces and commercial deep-sea firms all helping in the rescue operation.

READ MORE: Titanic tourist sub's dwindling oxygen supply means rescuers face race against time

The chairman of the British Titanic Society, David Scott-Beddard, said all the members of the society are praying for those onboard and for the family at this time.

He said: “The entire British Titanic Society, along with our worldwide pool of members, extends its prayers to those on board the submersible, and to their families, at this tense time.

“We sincerely hope and pray for a successful rescue operation.’’

A spokesperson from French explorer Paul-Henry Nargoelet has also confirmed that he was on board the missing submarine.

READ MORE: Who is British billionaire Hamish Harding as hunt for Titanic submarine continues?

Since the discovery of the Titanic’s wreckage, the ship has been visited by manned submersibles on various occasions.

The sub is owned by OceanGate Expeditions which has allowed fee-paying passengers to see the wreckage of the Titanic in person.

RMS Titanic sailed from Southampton on April 10, 1912 from Southampton's White Star Dock on her maiden voyage to New York.

The Titan is one of the most advanced submersibles of its kind in the world and is capable of diving to depths of 4000 meters.