I was hospitalized recently and a show would come on very late at night about a world where everyone lived in underwater ships, I guess land was no longer livable or available. I've searched and searched and all that comes up is SeaQuest. This was much better quality and was filmed much more realistic so I'm guessing it was produced more recently than SeaQuest. There were huge ships with lots of people in each one. It was like they were in a spaceship but underwater.
It was a show, on every night. I'm not sure of the channel but it was definitely an ongoing plot. The people were definitely from Earth, and Earth had flooded completely, hence why they were living in this underwater world on these huge ships that traveled all around the globe. The ships resembled spaceships even though they were high tech submarines.
It was in color, a seemingly recent show (no older than the 90s) and was NOT Stargate Atlantis or The Girl from Tomorrow. One of the plots there was a big something in the way underwater and the ship had underestimated where it was in it's path and it almost hit the obstacle.