The movie is based on the amazing, unsinkable ship, The Titanic that lay in the bottom of the North Atlantic Ocean. There was once a saying, that claimed the ship could not sink, and once it went down, it was rumored no one could reach it, until now, hence the title, Raise The Titanic. There are a group of American amateurs that are going to raise this massive ship, because they are led to believe that there is a mineral upon this vessel that the U.S. Armed Forces believe can take down a missile in U.S. airspace. The Russians have also been doing their homework as well, because they are familiar with this information also, so they too want a piece of the action. Therefore, they are going to try and get The Titanic up as well.
This film unfortunately received the First Golden Raspberry Award, for The Worst Film, which is very sad for such a legend. It was very expensive to produce and still bombed out. The film was not at all appealing to many critics. This movie was produced in 1980, but the real Titanic was not discovered in the ocean floor until 1985. So, at that time, there was a great deal of information found, that could have helped in filming this movie, and may have even made it a huge success.