Came across this awesome piece of free software:
http://www.delftship.net/delftship/...&view=article&id=31&Itemid=4

"DELFTship™Free is a fully functional 3D hullform modeling program perfectly suited for students, home users or anyone else with an interest in ship design. And as the name already implies it's completly free of charge! DELFTship™ uses subdivision surfaces to represent the 3D geometry instead of conventional nurbs. This technique allows for rapidly modeling the most complex shapes in a very flexible way."

I havent installed it yet but it looks really good.