The magnetic levitation system for long distance delivery of water includes a magnetic levitation guideway and a magnetic levitation train of vehicles for carrying large amounts of water at high speed. Vehicles of the water train have a large, flexible balloon having a thick skin formed of reinforced flexible composite material for carrying water. When pressurized and filled with water, the container forms a streamlined cylinder that runs the full length of the vehicle. After delivery of the water load and depressurization, the flexible skins are depressurized and collapsed to minimize the frontal area and air drag on the vehicles. An "iron lift" guideway panel provides the magnetic lift force, with superconducting magnets on the vehicle attracted upwards to laminated steel plates attached to the guideway. Null flux aluminum loops provided for inherent stabilization. Unstable horizontal attractive forces are countered by null flux stability loop circuits making the stable restoring force from the null flux loops greater than the unstable force from the attraction to the steel plates, so that the net horizontal force is restoring, and the suspension is horizontally stable.