Sounds like my '73 25 Mk1 has a similar setup to your 27 Mk 5.  The upper 
gudgeon casting is a single and the lower gudgeon casting is a double.  On the 
25 there is a single hinge rod, half-inch diameter, which passes through both 
gudgeons.  I had a similar clunk in my rudder whenever I was on the mooring.  I 
was not able to locate any off-the-shelf replacement gudgeons which were 
anywhere near as beefy as these originals on my boat.

I brought the gudgeons, the hinge rod, and the mating parts from the rudder to 
a machine shop so they understood the issue.  They opened up the already 
enlarged hole in the gudgeon only slightly, enough to make it round again.  
Then they turned down the OD of two flanged bronze bushings to achieve the 
desired fit, and pressed them into the gudgeon.  The ID of the bushings was 
then bored to match the rod size.  I don't have any concerns with the strength 
of it.  These pinned joints are strong as long as the clearance between the pin 
and the journal is minimized.

I just noticed that South Shore Yachts does sell the single gudgeons, $90 each. 
 They advise you to replace the double gudgeon with two of the singles.
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