Preheat oven to 350 degree F. Grease a 10-inch fluted tube pan; set aside.
Stir together flour, cinnamon, ground ginger, baking powder, and baking soda in a large mixing bowl; set aside.
Place shortening in another large mixing bowl; beat with an electric mixer on medium speed for 30 seconds. Add brown sugar; beat until fluffy. Add eggs and molasses; beat for 1 minute. Add flour mixture and water alternately to egg mixture, beating on low speed after each addition until combined. Pour batter into prepared pan.
Bake in preheated oven for 50 to 55 minutes or until a wooden toothpick inserted near the center comes out clean. Cool for 30 minutes in pan on a wire rack. Remove from pan and cool completely.
Combine powdered sugar, 1/4 teaspoon vanilla, and 1 tablespoon lemon juice in a mixing bowl. Add additional lemon juice, if necessary, for drizzling consistency. Drizzle over cake. If desired, garnish with crystallized ginger strips. Makes 12 to 16 servings.