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It may be referring to one of three possibilities.
Explanation: If the ship has an engine room located midship (which is the case with most break bulk cargo and passenger ships) then the propeller shaft runs from the engine room to the shaft seal at the stern (rear) in a long tunnel with many support bearings. Engine men can walk all the way from the engine room to the shaft seal inside this tunnel to check the shaft bearings. In this case it's referring to the tunnel with all the shaft bearings.
If the ship has the engine room aft (rear) then there is no tunnel. The propeller shaft goes from the engine room to the shaft seal, perhaps supported by one or two intermediate bearings, and to the outside. In this case it's referring mainly to the bearing seal which can be perhaps 10 feet long.
Lastly, in Navy ships and also ships with two propellers (screws) the shaft runs for a long distance (about 80 feet) on the outside of the hull and is supported by one or two struts (with bearings) before it reaches the position where the screws are located. In this case it's referring to the struts.
Luis Luis United States Local time: 05:05 Native speaker of: Portuguese PRO pts in pair: 171
Explanation: "portahélice" is another term, or even "eje de hélice." It may refer to the operating mechanism that makes the propeller go - sometimes a pulley-aparatus (polea) or a belt (correa, but I doubt it. "Corredera" specifically refers to the track along which something runs, glides, slides.
Explanation: Corredera means log (that is, the apparatus used to measure the vessel's speed through the water). The name comes from the ancient type in which a knotted cord attached to a piece of timber was allowed to run out (correr)over the stern and the speed was measured in "knots". A patent log consists of an impeller which rotates as it is towed behind the vessel, a braided line attaches the impeller to a device like a speedometer, from which the vessel's speed is read. Though the patent log has now been replaced by the pitot-static log and all sorts of fancy electronics, it is still carried by many ships and - especially - yachts. Hope this is of some use.
Marine Encyclopedia - Capt. H. Paasch
Peter Spence Local time: 06:05 Native speaker of: English PRO pts in pair: 22