The torque measuring system can be mounted on intermediate shafts after the thrust bearing. When a shaft is subject to thrust and/or torque this results in a small strain at the shaft surface. The torque meters can detect these small displacements, in both axial and radial directions. The measured values are transferred continuously from the rotating shaft to the stator part through wireless data connection. Power transmission from the stator to the rotating shaft is performed by means of induction. The stator part consists of a power transmission coil, a data signal receiver and a control box equipped with digital or analogue output connections. These outputs can be linked directly to the vessels data network, monitoring- or control system. The stator part can optionally be connected to a Propulsion Efficiency Monitor, which displays propeller, shaft power, torque and speed.