According to
Rick Jolly's book
Jackspeak, this is a
British Royal Navy slang term. More likely it is merely a standard
phrase that due to
overuse became on object of
parody.
The term is the standard phrase used when something gets bent (q.v.), implying a lack of blame on the speaker's part. Compare (from The Jargon File) geekspeak I didn't change anything!
Note: Chief here means Chief Petty Officer.