I thought it must be a made-up word, but no (The Free Dictionary):

par·buck·le (pärbkl)
n.
1. A rope sling for rolling cylindrical objects up or down an inclined plane.
2. A sling for raising or lowering an object vertically.
tr.v. par·buck·led, par·buck·ling, par·buck·les
To raise or lower with such a sling.

The Parbuckling Project is a consortium of engineering talent with a truly vast (and challenging) task: remove the sunken Costa Concordia safely and cleanly. I had a look and marvel at the ingenuity.

Now let’s hope it works.