AusCan said..
Shaft horsepower is engine horsepower minus the parasitic load (alternator, gearbox drag etc). Usually this is only a couple of hp on engines this size.
Shaft horsepower does include alternator and gearbox drag, plus any other sources of drag as this then is the only reliable way of measuring useful working horsepower.
Horsepower
without the parasitic drag is brake horsepower and that will always yield a higher horsepower rating than actual useful horsepower.
The formula for measuring shaft horsepower is:
Sp = 2?NT
T – torque measured by means of torsion meter
N – revolution of the engine per second
Al sounds to much like hard work, easier to work out what size engine is the minimum required and then go one size up.