The Maritime Administration has approved in principle an application from Shearson River Barge Associates I, New York, N.Y., for a Title XI guarantee to aid in refinancing twenty 195-foot river barges.

The barges, five built by Cargo Carriers, Inc., and 15 by Nashville (Tenn.) Bridge Co., were delivered in 1979. The applicant indicated the barges' main employment will be in the carriage of grain, but that they may also be used for other dry-bulk cargoes, such as coal. The approved guarantee is for $4,141,000, or up to 87½ percent of the depreciated actual cost of the barges.