I normally name my ships after my dogs, Solaris Balthazar London and Mutluck, though i did recently change the name of my ship on my main character to the Enter Prize to piss off a friend of mine who hates seeing players ships named the Enterprise. I'll be changing it back soon enough.
Most of my ships names are related to inside jokes I share with friends. They're all named for people (All guys too, yikes); some are fictional characters. All in all they're decent names in my opinion; no fancy translations, nothing too superfluous, and with a tinge of humor in all of them.
Light cruiser: USS Fairfield
It was a decent name that I always have had in the back of my head. There are other details but probably not relevent
Cruiser: USS Harkinian
Named for King Harkinian Hyrule of the old Zelda cdi games (Those of you who watch too much youtube know who I'm talking about).
Ambassador: USS Cage
Named for the "greatest" actor ever, Nicolas Cage of course. Never really used it because it's an in-game freebee.
Heavy Escort: USS Hale
Named for reverend John Hale from the Salem Witch trials (for those who've read "The Crucible") who is a certified badass. This is my longest serving ship so far.
Exploration Cruiser: USS Bowen
Interesting default name that happened to match a teacher that I had that was fat, slow, boring, and ineffective. Just like the Galaxy. As a matter of fact I hated this ship so much that I went back to using the USS Hale. Guess I'm more of an escort guy, but I've never tried a science vessel.
Danube Class Runabout: USS Michio Kaku
Named for that Annoying "Physicist" who tends to appear on television more times then needed. No reasoning behind this name.
Shuttle: USS Kepler
Named for scientist Johannes Kepler, known for his laws of planetary motion.