Hi UTS. Here's a link that describes VOLTAGE drop
http://www.redarc.com.au/handy-hints/-/ ... ltage_drop
Make sure you get a good understanding of electrical safety and potentially fatal electric shock hazards before playing around with anything over 12 volts. Also, water increases risk of shock.
With the battery at the surface (ie not in the ROV), use the lowest current thrusters that you can, and the thickest wire that is practical.
For thinner cable and a hence a more practical tether, consider using relays to switch the motors from a RC model battery in the ROV. Relay control current is much lower than motor current so you can use thinner tether wire. Google "motor reversing relay" to find diagrams and descriptions
Ross