The present invention is directed to a shaft bearing support assembly for waterborne equipment, including: at least one bearing; at least one tapered forcing ring; a housing; and at least one adjusting device. The outer circumference of each of the at least one bearing is surrounded by one tapered forcing ring which is arranged inside the housing. The at least one adjusting device communicates with each of the at least one tapered forcing ring. A force generated by the at least one adjusting device is transmitted to the at least one tapered forcing ring to longitudinally move the at least one tapered forcing ring, causing the at least one bearing to constrict radially and to adapt to a desired clearance over a diameter of a shaft.