This invention generally relates to a cable recovery device for use on bo a surface ship. The invention compensates for excessive tensions arising in cables carrying submerged loads which are caused by the swell of the ocean acting on the ship, and controls the tension at which the cable is wound. The invention includes a cable winding drum which is rotationally driven by a variable-speed motor, a loop-shaped cable passageway which circumscribes the drum which forms a loop of cable of varying length, and a means for sensing the length of said cable loop and for automatically controlling the speed of the variable speed motor in response thereto. The loop of cable of varying length compensates for excessive cable tensions resulting from the swell of the ship, and allows the cable to be wound around the drum at a desired uniform tension.