The subject of this disclosure relates to a diving apparatus and a method for marking a diver's' location. The disclosure provides a receptacle for diving equipment which is configured to float upon the surface of the water and optionally support a flag and pole to mark the diver's relative position underwater. An anchoring system is also disclosed coupling the apparatus to the sea floor or river bottom to maintain position of the apparatus in the general location of the diver. The apparatus further includes a perimeter ring handle, a receptacle for storing equipment, and a method for supporting a diver.