I've noticed two different situations where trees submerged in water for a long period of time have been pulled out and put to good use in drinking situations.
The first time was at the Four Roses distillery in Kentucky. The wooden fermentation vats are made from cyprus logs that were submerged in the Suwannee River (I always that it was spelled "swanee"). Apparently the logs were cut in the 1800s, so they've been under water a very long time.
The wood lasts a long time in this wet environment because the cyprus trees grew in swamps and are used to being waterlogged.
The second time waterlogged wood came to my attention was as part of a bar at a new hotel. The new hotel is the Trump Ocean Club, opening July 6th in Panama.
Tejas Restaurant’s bar is made of “cedro espino” wood, cultivated from trees preserved underwater for more than 95 years. Since the construction of the Panama Canal – finished in 1914 – the cedar trees have been submerged in nearby Lake Gatun, a manmade reservoir used to support the Canal’s locks during dry season.
I didn't know that reclaimed underwater wood was a thing, but it turns out it may be a thing.