Sounds like there are a couple of different concepts going by here...
Pure displacement should just be based on the total mass of the ship, right? Given reliable mass properties for assembly components, getting an accurate assembly mass roll-up from NX should not be hard. This total mass will equal the mass of the water being displaced, and so dividing the mass of the ship by the density of the relevant type of water should give you the total displacement volume.
Now... What I think John is driving at is finding an actual waterline, based on the displacement calculated above, and the know geometry of the ship. Simplistically, this involves creating a (normally simplified) displacement volume -- often an extracted copy of the outer hull, trimmed to a parametric datum plane (representing the waterline) and then capped to create a single solid. As the datum is then adjusted (representing moving the ship up or down relative to the waterline, displacing more or less water) the volume of the displacement solid can be made to represent the correct displaced volume, at which point the datum plane is a pretty good representation of an accurate waterline.
...and this is where the optimization comes in... Automating the variation of the datum plane and the investigation of the displaced volume to "find" the right combination.
But this is a little bit simplistic, as the shape of the hull and the distribution of mass around the ship will change the orientation of the hull relative to horizontal, and thus change the actual waterline. Think of a level canoe floating on a lake, versus a canoe with a big guy like me sitting in the very back... The CG matters a lot.
In practice, ship manufacturers do some nice hydrostatics calculations to determine the waterline -- and they often do this inside NX as well. This video clip shows one such application at Wartsilla, using NX.
[URL unfurl="true"]https://www.youtube.com/watch?v=Cq28nvjSYbg[/url]
...and if you know me, you won't be surprised to find that they've used Product Template Studio to create this UI. ;-)
Does this help?
Taylor Anderson
NX Product Manager, Knowledge Reuse and NX Design
Product Engineering Software
Siemens Product Lifecycle Management Software Inc.
(Phoenix, Arizona)