I got a great deal on a sling line hook on Ebay. All it needed was sand blasting and a coat of paint. The hook has a flange that sits on a bearing inside the housing. I cleaned and greased the bearing and now it works like new. I still need to come up with a method to secure the end of the rope to the hook fitting.
As received
After painting
The back end of the housing is threaded and removes to access the bearing