A pod propulsion system comprises a housing defining a fluid duct and an annular drum rotatably mounted to the housing within the fluid duct. The annular drum has a drum interior and a cylindrical outer surface. The system further comprises a rotor mounted to the drum for rotation therewith, the rotor and the drum having a common axis of rotation. A bearing assembly mounted to the housing comprises a first bearing comprising a first plurality of bearing pads disposed circumferentially around the drum. Each pad has a pad bearing surface adapted to contact a first drum portion in a predetermined manner and is pivotably mounted to the housing so as to maintain contact of the pad bearing surface with the first drum portion in the predetermined manner when an orientation of the drum portion relative to the housing changes.