Shippo is related to act of hoping that two people or characters form a romantic pair, mainly in movies, series, manga, comic books and so on.
The word shippo is derived from shippar, a neologism that originated from English relationship, which means "relationship", in the Portuguese translation.
Thus, shippar works as a verb in the Portuguese language, making shippo the conjugated form in the 1st person singular.
Example: "I ship Matthew and Lara".
In the example above, the interlocutor means that he wants a romantic couple to be formed between Mateus and Lara.
This neologism would have appeared in forums and fanfics - alternative stories created by fans of a certain work - where participants expressed the desire to see formed romantic couples between their favorite characters, even if that didn't happen in the original plot of story.
Learn more about meaning of Fanfics.
A peculiarity to ship a certain couple is in the formation of a new name consisting of the individual names of each person involved in the ship (the couple).
Example: Matthew and Lara = "Matera"; Daniel and Pedro = "Danidro"; Luciana and Flávia = "Luvia".
Learn more about meaning of ship.