STATE-owned Kenya National Shipping Line (KNSL) is to be revived in a restructuring after ailing for decades in a move that will lead to the exit of three foreign shareholders.The government believes KNSL is nearing insolvency due to a lack of business and the failure of previous efforts to revive the company."The recovery strategy proposed, among other things, is giving the company the sole mandate to handle government cargo," a cabinet statement said.This means it will ship government goods and state tenders offered to private investors such as imports of subsidised fertiliser, reported Nairobi's Business Daily.The government will seek to allocate a percentage of cargo to be shipped through the line and encourage partnerships with major international maritime companies. This is in addition to government cargo that should by law be transported by KNSL.The foreign shareholders in the dormant shipping line include Mediterranean Shipping Company and MS Oceanfreight Ltd.Sources said PIL, Maersk and MSC were all eyeing control of the carrier owing to the guarantee of handling millions of shillings worth of business from the government annually.