Heat shortening in a cast iron dutch oven to 360 degrees (don't walk away from oil while preheating and don't let it get above 375 degrees, remove from heat and reduce heat as needed).
Meanwhile, prepare glaze by mixing together all of the glaze ingredients in a shallow dish (don't add too much water, you'll be dipping warm doughnuts in glaze so you don't want it to be runny, fairly thick is good).
Carefully transfer doughnuts to oil (I could fry 3 at a time) and fry until golden on bottom, then using a wooden chopstick, flip to opposite side and fry opposite side until golden brown.
Transfer to a wire rack and allow to cool 1 - 2 minutes then dip top half in glaze while still warm and return to wire rack and allow glaze to set at room temperature. Best served warm.
Once cool reheat in microwave 5 - 10 seconds if desired.