I got a few minutes to run some quick calcs on that air/water cooling problem. You didn't give pressure, which of course affects how much water is condensed at 42 C, so I varied the inlet pressure until the water condensed matched your number. Pressure drop didn't have a strong affect; a different value just changed the inlet pressure needed to give the outlet pressure that matched the water. I had it do the weighted MTD calculation; 8 sections is enough, and increasing this to 10 or 12 only dropped the weighted MTD by 0.16 C. Below is the result for the exchanger, as excerpted from the PD-PLUS simulator output. I hope the formatting doesn't get too badly garbled due to word wrap. Let me know if you want the file emailed to you as an attachment (provide an address). As you can see (hopefully), the weighted MTD is 22 C, but multiplying that by the correction factor for one shell (assuming U-tubes) gives 17.5 C, which is close to the vendor's 16.2. The weighted MTD calcs assume mixed air/water side at any point, as though it were happening in the tube side. More likely, the cooling water would be on the tube side, and condensed water would fall off the tubes and flow along the bottom. A different strategy for weighting the MTD over multiple sections of the shell could account for the small difference. What is important to note is that half the duty occurs in just cooling the inlet air to the dew point, a steep part of the Q-T curve, and condensation flattens out the curve somewhat. The Q-T curve is concave-up, so that the weighted MTD is considerably less than for a straight-line heat release.
Hope this helps. Now the output (hope you can rearrange the lines).
HEAT EXCHANGER BLOCK TT-101 Wet air cooler, TT-101
DUTY= 2.7593 MM KCAL/HR
HOT SIDE INLET TEMP= 153.3 C, L/F=0.0000, FLOW= 64774.00 KG/HR
VAPOR DENSITY= 1.716 KG/M3
OUTLET TEMP= 42.0 C, L/F=0.0400
WT FRACTION VAPOR= 0.9744
VAPOR DENSITY= 2.356 KG/M3
LIQUID DENSITY= 991.83 KG/M3
COLD SIDE INLET TEMP= 34.5 C, L/F=1.0000, FLOW= 307460.63 KG/HR
LIQUID DENSITY= 994.50 KG/M3
OUTLET TEMP= 43.5 C, L/F=1.0000
LIQUID DENSITY= 991.26 KG/M3
MTD CORRECTION FACTOR (OVERALL, FOR EVEN TUBE PASS SHELLS):
0.791 FOR 1 SHELL
0.968 FOR 2 SHELLS
0.987 FOR 3 SHELLS
PROFILES (DEG C, FOR EQUAL DUTY SECTIONS):
HOT TEMP 153.3 132.2 111.0 89.8 68.5 54.7 51.1 46.9 42.0
L/F 0.0000 0.0000 0.0000 0.0000 0.0000 0.0051 0.0173 0.0290 0.0400
COLD TEMP 43.5 42.4 41.2 40.1 39.0 37.9 36.7 35.6 34.5
L/F 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000 1.0000
TEMP DIFF 109.8 89.8 69.7 49.6 29.5 16.8 14.3 11.3 7.5
WEIGHTED MTD= 22.2 C (UNCORRECTED)
REQUIRED U*A= 0.1244 MM KCAL/HR-C, BASED ON UNCORRECTED MTD