Mediterranean Shipping Company (MSC) and the Transport ministry on Thursday entered into an agreement towards the revival of the Kenya National Shipping Line.
President Uhuru Kenyatta witnessed the signing of KNSL deal during a ceremony at State House.
Cabinet Secretary James Macharia signed for the ministry while Capt Giovanni Cuomo - the MSC first Vice President, represented the shipping firm.
MSC is one of the leading global container shipping companies in the world.
Uhuru said the revival of the shipping line was a priority for Kenya because it will create jobs for thousands of Kenyans.
"We are very keen to revive the shipping line. And we are confident that we can run the shipping line again," Uhuru said.
The Head of State welcomed the government’s partnership with the Mediterranean Shipping Company in the revival efforts.
The president said he expects the relevant teams to work with dedication and speed so that the shipping line is launched soon.
"This is a valued partnership between Kenya and the private sector. I look forward to launching the shipping line soon."
The shipping line is expected to once again become an active participant in international seaborne trade, which accounts for a significant percentage of Kenya’s total trade.
Apart from reviving the shipping line, there are plans to upgrade Bandari College into a centre of excellence for maritime studies.
The project with a view to transforming Mombasa into a trans-shipment hub in the region.
The move has been hailed as a huge boost to the ongoing efforts to streamline the blue economy.
The Kenya National Shipping Line was established in 1987 as the national carrier for seaborne trade.
However, years of mismanagement led to its near collapse necessitating the current proactive efforts to restart its operations.