Because it says the process continues- ie doing a slower maneuver and seeing if it overlaps. If it did overlap, you repeat the process and go back to step 1 which is move. At the end of all that, once you've completed a maneuver, you deal a damage to the ship that moved and the closest ship it overlapped as a result of the "loop". In pseudo code it might be something like:
1 Closest_Ship = null
2 move ship
3 IF ship overlaps an enemy ship
5 THEN temporarily reduce speed by 1, Closest_Ship = overlapped enemy ship, GO TO 2
6 ELSE complete maneuver
7 IF Closest_Ship is not null
8 THEN deal one face down card to activated ship and Closest_Ship
9 ELSE end activation
Sorry if that's a bit rough to understand
So, I think there's a actually a subtelty that this misses. By my understanding, rather than updating Closest_Ship at each point, every ship that you would overlap in the course of attempting the maneuver gtes added to a list of ram candidates. Once you get to the moving ship's final stopping place, you check distance to EVERY ONE of those candidates, and the closest one to that point--regardless of whether is was the most recently overlapped--is the one that is rammed.
I had this come up in a tournament game recently (I think it was a Sullust game?), where the most recently overlapped ship was not the closest to the final stopping position. We dug through rules trying to verify, and I'm pretty sure this is how it works. Unfortunately, don't have the RRG in front of me so I can't reference right now.
