I'm not sure if you're referring to the bulbous bow. I think that's what you're referring to. Yes, you're right. It is used by some of the fishermen here in Newfoundland as well, to give better fuel efficiency. Again, it's supposed to increase the stability of the boat as well. It prevents the bobbing up and down in the front of the boat. It seems to be one of the newer things in the boat-building industry that's happening right now.
On November 6th, 2006. See this statement in context.