Abstract: The invention relates to an apparatus and method for cutting submerged trees at an underwater logging site and for retrieving the cut trees. Once cut, each tree is retrieved to the water surface by an inflatable bag deployed from and inflated by the apparatus. The apparatus includes a control unit positioned on a surface vessel, such as a barge or large boat, and an underwater vessel connected together by an umbilical. Preferably the underwater vessel is a remotely controllable submersible including a grapple for releasably holding each tree to be cut, a saw, a gas supply connectable to a gas source located on the surface vessel, and an air bag deployment and inflation assembly for inflating the air bag and securely attaching it to the tree. The underwater vessel is initially loaded with a plurality of air bags which are stored in a magazine located in the interior of the vessel.