Hi christian!
I think it has really to do with the ship´s friction. Plain bow shapes are producing bigger bow waves flowing alongside the hull - an energy wasting effect. Think of modern frigates and destroyers having their sonar-dome incoorporated into the bow bulge design. Modern freighters and tankers also have it - but for not wasting energy the bulge has to be completely under water - otherwise you have a braking effect. On many ships the bulbous bow is only visible when you´re looking directly from the front to it - not from the side.
Hope this helps a bit,
Cheers, Olaf.
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