Abstract: A latching apparatus for lifting and lowering loads. The apparatus comprises a prong and a receiving receptacle configured to receive the prong. The receiving receptacle comprises a body having a central passage, a plurality of jaws arranged about the central passage, and a spring for biasing the jaws to extend into the central passage. The latching apparatus may further comprise an activation disc for disengaging the jaws from the prong. The jaws have a pin extending therefrom; and wherein the activation disc contains a plurality of cam surfaces that engage the pin of the jaws. A method of latching onto a container is also disclosed.