The Maritime Administration has approved in principle an application from Shearson River Barge Associates IV, New York, for a Title XI guarantee to aid in financing 15 river barges. Built by Nashville Bridge Co., Nashville, Tenn., the 195-foot-long vessels were delivered in mid-1980 and are to be operated and managed by the Marine Equipment Corporation. The barges are expected to be used primarily in the carriage of grain, but also may be used to transport northbound cargoes such as coal.

The approved guarantee is for a maximum of $3,637,000, which is 87 1/2 percent of the total depreciated actual cost of $4,157,457.