Abstract: The invention relates to a floating lifting device, using two movable lifting structures (13, 14) which can be alternatively engaged with broaden support members (5, 6, 7) of a cable (4). The cable (4) is stored substantially without tension in the vessel (1), for instance on a drum or in a hawse-hole (10) in a looped configuration. Large loads (9) can be lowered and raised from the seabed at large water depths such as at 3000 m. Preferably, the cable is formed by neutral buoyancy material, such as synthetic cable.