All these words are "bad words" in the Dutch language. Seems that the censoring is being used in several languages.

Pest = Plaque (this is weird, after all we do have Plaque ships in this game)

Trut = t w i t

Reet = a s s 

Tering = just like the plaque a bad disease

Pic = something only males have, lol

So thats why words like: Truth, Tempest, Greeting and Blistering are being cencored.