A system, apparatus and method of processing and/or removing radioactive materials from a body of water that utilizes the buoyancy of the water itself to minimize the load experienced by a crane and/or other lifting equipment. In one aspect, the invention is a method comprising: a) submerging a container having a top, a bottom, and a cavity in a body of water having a surface level, the cavity filling with water; b) positioning radioactive material within the cavity of the submerged container; c) raising the submerged container until the top of the containment apparatus is above the surface level of the body of water while a major portion of the container remains below the surface level of the body of water; and d) removing bulk water from the cavity while the top of the container remains above the surface level of the body of water and a portion of the container remains submerged. The bulk water can be added back into the cavity to add neutron shielding after the container is placed in a staging area and prior to personnel performing the desired operations to the container. As a result, gamma radiation and neutron shielding of the container can be maximized for any crane capacity.