From walkthrough:
Winch - Go to the back wheel part of the Cyclops-catapult.
Look down and see that the winch cable loop on the ground. Look up and see the winch to hold it is up on the beam.
Turn around and pick up the ladder. Turn around and prop the ladder on the beam.
Pick up the winch cable loop from the ground.
Climb the ladder and attach the winch cable loop on the winch.
Thomas says that it will not hold together and needs a peg.
Go down and pick up the broken peg on the ground.
Go to the galley. Open the galley carpenter's chest left of the beam.
Take the hammer and chisel. Use the chisel on the beam to get piece of wood.
In inventory, combine the broken peg, piece of wood, hammer and chisel to get new peg. Good day - The peg will hold.
Bad day - The peg breaks and have to make a new one again.
Climb the ladder and place the new peg on the hole of the winch cable to hold it tight.
