Anybody Familiar with this type of Stern Tube?

[Albin1975]

I realize this thread is old but I only recently joined. What you are looking at appears identical to the self aligning cutlass bearing on my Swedish-built Albin. They are still available from a guy in Sweden who supplies parts for the Albin diesels. His website offers them for both 25 and 30mm shafts. The website is:
Albinmotor.se. Look up at top of the page(partially hidden on my ipad) for web shop
Choose Albin Batdelar and then A25/motorbat
30mm is part #76092000 currently priced at 12000 SEK

[RaymondR]

Originally Posted by Uncle Bob

My wild assed guess would be that the shaped rubber bush holds the cutlass bearing in such a way that it is effectively self aligning.

That would be my guess also with the addition that it also acts as a vibration isolator.

There are folks who will machine you a new rubber bush, try your local bearing service center.