is it possible to create your own vessels?
for example with lightwave or 3dsmax
Nopes, that is not possible, and I dont even think it will be considered an option, however there will be some skin editing in the multiplayer game.
So a BS with my name and picture on it? Cool!
This is quite a tragedy - the scope for new warship designs is endless. For one thing, with the alternate timeline the treaty of Versailles never happened so ships like the German Pockets were never designed - so what was? What modern warships were coming off the production lines?
With support for brand new ships being made using commercially available modelling progs, ie trueSpace, Lightwave, 3DS Max etc new ships can appear, and not necessarily warships either. New merchant ships can show up, for example.
And this doesn't need to be for multiplayer either. If there are interested parties, I suggest you have a look at Hard Light Productions and see the FS2 SINGLE PLAYER modding community (of which I am part).
I personally would love to create things like 'Secret War' campaigns which would be for single players and not part of the multiplayer side. They could be referenced to, but not played online.
I'll shut up now.