The movie has a group of people who either were exploring an island or another mysterious continent. At a point in the movie, I think their ship was damaged or was thrown around by either an extremely large monster/dinosaur (or maybe even Godzilla?) I think this scene happened on land or right by water. I remember that the ship was not that fancy. I don't think that it had the look of a submarine. It almost just looked like a silver tube. Almost like a cylinder. Maybe with a cone at one end. The ship may have just have sides dented. I don't think it was destroyed and the people may have still been able to escape in the ship.
I would say that the movie was made between 1950 through the 1960's. I saw it on TV in the 70's or 80's. I remember it being in color but it could have been a black and white movie with a certain hue to it to make me think it was color.