The fishing rod is a preowned item in the game. It is helpful for fishing in the ocean to get extra gold. It can be used on an island and on a moving boat. Before the update, the Player had to buy it, but after the update, the Fishing rod and cannon are preowned at the beginning of the game.

The fishing rod can also be used to pick up stuff that is floating on the sea like crates, chests, and ships loot.

Tools | Fishing RodSpyglass
Weapons | Cannon
Basic Upgrades | Distance UpgradeAttack Speed UpgradeDamage UpgradeShip Speed Upgrade
Ship Upgrades | Air PeglegNitro PegReinforced PlanksSteel Reinforced PlanksAdvanced Toolkit
Cannon Upgrades | Steel BarrelSinker's GlovesBlue GunpowderTitanium Barrel
Hybrid Upgrades | BruiserDrifterDemolisher
Other | Fountain of Youth