The Maritime Administration has approved in principle an application from Ocean Barge Corp., No. 2 Canal Street, New Orleans, La., for a Title XI guarantee to aid in financing the construction of an oceangoing dry cargo barge. The 550-foot, 33,000-dwt barge is intended for operation in domestic coastwise coal carriage, but may be used initially in preference grain trades.

Bay Shipbuilding Corp., Sturgeon Bay, Wis., was selected to build the barge. Delivery is expected in November.

The approved guarantee is for a maximum of $16,257,000, which is 87½ percent of the barge's estimated actual cost of $18,580,000.