Have you directly modded any of the core files? Try verifying local files on steam sounds like an issue with the texture our model file for the default ship it displays.

I too have had this issue, since day 1. I can see the ships models in game and in the shipyard/designer no problem - just not at all in the custom race designer. While I've modded extensively, never in the core files, and I've tried removing all mods, renaming the "My Games" GalCiv3 folder (to force the game to generate a clean folder), verified local files, etc. all to no avail.

I never bothered to post about it since no one else seemed to have the issue and I'm operating on a below-minimum spec GPU (an old Radeon 3870), so I just figured it was an issue related to an 8-year old graphics card. The game runs well enough on low settings, so I've just dealt with it. (and yes, my video card drivers are up to date. Well, up to date for a card that is no longer supported by AMD - October 2013 is their last driver update for my card)

Two other graphical issues I've had, that may or may not be related:

• Ship icons for custom designed ships are invisible; I can click on the spot for them in the fleet windows and it works, but I cannot actually see the icons on the main map, in the shipyard, or in the battle viewer.
• During UP votes the other races are sometimes invisible, sometimes not. I did finally track this down to whether or not I had a video background for the race I am playing. If I replace the default race background with a picture, the UP looks fine. Again, just figured it was a graphics card issue.

I am curious now, what graphics card are you using OP? A relic like mine, or something a bit more recent?