Reply to rancor
I think I can help you here, being reasonably conversant with the machinery of the ship (I have written a document on how to start it from cold if anyone's interested - this outlines all the machinery operations that need to be carried out in order to put to sea from dead ship).
As the ship was "Full Away on Passage" (FAOP), all systems would have been geared to running the main machinery. As you state, the main generators would have been exhausting to the contact feed heater situated high in the engineroom in order to give the required NPSH for the boiler feed pumps. The main reciprocating engines would have been exhausting via the LP turbine to the condensers, which in turn were fed with seawater by the main seawater pumps, and the condensate extracted by the dry/wet air pumps (known these days as air ejector and condensate pumps respectively).
The ringing of the telegraph from the bridge to "STOP" would have caused some consternation down below (it still does today), and the watch engineers would have immediately swung the throttles to STOP on both engines, at the same time operating the Browns engines to switch the exhaust valves over from the turbine to the condensers. On receipt of the STOP from the bridge, another action would have been to also signal STOP on the boiler room telegraphs. These, and the stoking indicators, were operated by the watchkeeping engineers in order to keep the requisite steam generation required for full sea revolutions.
This would have transmitted the same consternation to the boiler room engineers and staff, and this is shown in the movies where the Leading Stoker shouts out to close dampers in order to reduce steam production. All the double ended boilers were used for driving the main engines, whereas the single ended ones could handle the main and auxiliary generators in port (called "hotel services"). To go to STOP from FULL AHEAD with firetube boilers would indubitably cause the lifting of the safety valves on all the boilers in order to vent the steam elsewhere than to the main engines. I think this was accurately described in the Cameron movie, as I have been in that situation myself on more than one occasion.
The Chief Engineer would have reported to the Captain once things had settled down below, and would be fully expecting to carry on with the voyage. The main generators would still be exhausting to the contact feed heater (not the surface feed heater), so without the feed to the boilers (this was manual, not via automatic feed regulators), live steam would have to be added to the heater in order not to cool the feed water too much, which would affect the boilers if FULL AHEAD had been signalled within a short time.
We don't know what passed between the Captain and the Chief, but having been a Chief Engineer myself, and hearing that the ship was going to sink, I would have been straight down below again to issue instructions. Knowing that the main engines would never run again, the first thing to do is to switch the main generators on to the auxiliary condenser. This was supplied with steam driven seawater and air pumps, which would have been quite quick to set up in the normal way. My theory - in view of where this equipment is situated on the ship (starboard side of the reciprocating engine room) was that it was the discharge from this pump overboard that suddenly started up and nearly flooded one of the starboard aft lifeboats. This can be seen in the Titanic Sinking in Real Time video. The main seawater pumps and dry/wet air pumps could then be shut down as they consumed a fair bit of steam. The engineers would also know that they had to keep steam up in as many boilers as possible, but I would think that the steam still in the drums of the boilers from BR 4 back to BR 2 would have been more than sufficient.
Drawing -
Bruce Beveridge from Titanica site
The Olympic Class didn't have an Emergency Generator as such, as the Auxiliary Generators (sometimes referred to as Emergency Generators) were still steam driven, and not diesel like in subsequent ships. These two small 30kW engines were run regularly to keep them drained and ready to start, and were used for testing various electrical kit around the ship such as the radio system, lighting etc. The Chief would have instructed the engineers to start these two sets up (depending on what the lighting load was - possibly only one was required) and to shut down the main generators as they would not be needed for the rest of the life of the ship, in order to save steam. The engineroom is now running on the Auxiliary Generators, the only steam consumers being the Auxiliary condenser seawater and air pumps. Little if any boiler feed water would need to be transferred to the boilers with such a large reserve of steam. With no fires lit, water level was not important, and would only have served to reduce the steam pressure.
The boilers: As the water gradually passed to and flooded each boiler room, a few engineers would have been posted above the boilers to swing boiler stops (valves to close off a boiler) and the isolation valves on the steam lines provided for redundancy in just this eventuality. Here - copyright Sam Halpern - is the arrangement of the steam lines from the boilers -
From this excellent drawing (I must ask Sam where the original came from...) you can see how the redundancy was built into the system. It's actually a lot of redundancy, so someone really though this one out. If we assume that the engineers have isolated boiler rooms 6 and 5 at this time (water in both, via the damage to the side plating, fires drawn), then our auxiliary generators can be fed from BR 3 via the direct purple line shown between bulkheads G&H, with BR 4 supplying the steam lines until isolated due to further flooding of the boiler room, leaving only BRs 3&2. The green main generator lines would all be isolated at this point. There is now very little for the engineers to remain below for, and one of the firemen reported that they and most of the engineers were sent up top. One said that "All the engineers were up top, I saw Mr Farquharson (2/E) up there" or words to that effect. If I was the Chief, I would have kept two or three of the engineers there besides myself, a few firemen to draw the fires (no need to shovel coal as there was such a huge reserve of steam), and possibly an electrician at the switchboard to carry out isolations when fittings shorted out due to rising water. All they had to do was wait, make sure the auxiliary pumps carried on working, and keep an eye on the steam isolation valves as the water gradually filled the ship.
Once BR 3 started to flood, the stops would have been shut, and the isolation line valve (purple) to the auxiliaries also closed, leaving the one open from boiler room 2. I would have thought about the steam demand and maybe shared the boilers in BR 2 between the main steam lines to the auxiliary condenser pumps (maybe one or two boilers on the starboard side), with the remaining three boilers on the purple line between WTB J&H to the generators. Possibly and to save on manpower, it would have been even better (if such a word can be used in this situation) to shut down that line as well, and feed the auxiliary generators from the purple line coming from the main lines in the reciprocating engineroom. By this time there was nothing more the engineers left below could do but sit there and wait. Once the aft end started to rise out of the water, it would have been nigh on impossible to evacuate anyway, though I would think they would have tried.
The lights are still on via the emergency switchboard, reliant on either the sea suctions for the auxiliary pumps coming out of the water (they were still submerged right to the end, even though the main suctions were well out of the water by this time (good design, though maybe with hindsight)) or loss of steam by either decaying pressure, or - as I believe actually happened - the steam lines fracturing as the ship broke in two. The survivors who stated the lamps glowed for a few seconds could have been the generators winding down. The "explosions" heard could have been the steam lines rupturing (the red ones in the drawing), as a "sudden release of pressure" is pretty much the definition of an explosion.
Some have mentioned boilers exploding when in contact with seawater, for both Lusitania and Titanic, but to me, seawater suddenly flooding of a boiler room cools a boiler such that a vacuum forms inside. This would cause an implosion rather than an explosion if the boiler shell couldn't take the vacuum, and there are videos on YT of 45 gallon drums filled with steam and sprayed with water doing just that.
PS: I have written starting documents for the following ships, if anyone wants a pdf copy -
Olympic class (with notes on the Titanic sinking)
Mauretania
Aquitania
Empress of Britain
Normandie
Queen Mary (not yet started - the book is buried in our move from Malaysia...)