A bearing assembly for supporting a drive shaft of a ship wherein the shaft is generally to be supported by such bearing assembly in a horizontally extending position. The bearing assembly has a housing with a cylindrical shell mounted therein having a central bore with a longitudinally extending central axis. The shell has a set of circumferentially spaced staves to support the drive shaft. All of the staves are comprised of a slippery polymer alloy and project into the central bore of the shell. The staves are held in place by gripping members comprised of an elastomeric member compressed by a rigid plate.